Italy: Chocolate Market 2024

Chocolate Market Size in Italy

The Italian chocolate market fell to $X in 2022, reducing by -6.8% against the previous year. Overall, consumption, however, saw a noticeable setback. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Chocolate Production in Italy

In value terms, chocolate production fell to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a perceptible descent. The most prominent rate of growth was recorded in 2014 with an increase of 41%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Italy

In 2022, the amount of chocolate and cocoa products exported from Italy rose significantly to X tons, increasing by 8.2% against 2021. Overall, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +69.7% against 2013 indices. The pace of growth appeared the most rapid in 2021 with an increase of 11%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, chocolate exports reduced slightly to $X in 2022. Over the period under review, total exports indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +4.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +53.4% against 2015 indices. The growth pace was the most rapid in 2017 with an increase of 20%. Over the period under review, the exports hit record highs at $X in 2021, and then reduced slightly in the following year.

Exports by Country

France (X tons), Germany (X tons) and Belgium (X tons) were the main destinations of chocolate exports from Italy, with a combined 33% share of total exports. The UK, Spain, Poland, the United States, Canada, the Netherlands, Saudi Arabia, Australia, Russia and Austria lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Canada (with a CAGR of +22.8%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Germany ($X) and the UK ($X) constituted the largest markets for chocolate exported from Italy worldwide, with a combined 33% share of total exports. Spain, the United States, Belgium, Poland, Canada, Australia, the Netherlands, Saudi Arabia, Russia and Austria lagged somewhat behind, together accounting for a further 34%.

Canada, with a CAGR of +17.3%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, which is down by -8.8% against the previous year. Over the period under review, the export price showed a mild shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 8.8% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Australia (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Italy

After three years of growth, supplies from abroad of chocolate and cocoa products decreased by -2.9% to X tons in 2022. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when imports increased by 16%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, chocolate imports declined to $X in 2022. The total import value increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, imports attained the peak of $X, and then dropped in the following year.

Imports by Country

In 2022, Germany (X tons) constituted the largest chocolate supplier to Italy, with a 40% share of total imports. Moreover, chocolate imports from Germany exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was held by France (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+1.5% per year) and France (-3.8% per year).

In value terms, Germany ($X) constituted the largest supplier of chocolate and cocoa products to Italy, comprising 41% of total imports. The second position in the ranking was taken by Belgium ($X), with a 13% share of total imports. It was followed by France, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany amounted to +1.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+0.7% per year) and France (-2.3% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, dropping by -3.4% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2016 an increase of 6.6% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then shrank in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Poland ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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