Italy: Chocolate Market 2024

Chocolate Market Size in Italy

The Italian chocolate market surged to $X in 2022, picking up by 18% against the previous year. Over the period under review, the total consumption indicated mild growth from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -21.9% against 2020 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Italy

In value terms, chocolate production rose sharply to $X in 2022 estimated in export price. Overall, production enjoyed strong growth. The pace of growth appeared the most rapid in 2014 with an increase of 486%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Italy

In 2022, exports of chocolate and other food preparations containing cocoa from Italy fell to X tons, which is down by -5.7% against the previous year. In general, total exports indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +7.4% 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 +22.6% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 30%. As a result, the exports reached the peak of X tons, and then reduced in the following year.

In value terms, chocolate exports reduced to $X in 2022. Overall, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +7.6% 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 +30.8% against 2019 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 35%. As a result, the exports attained the peak of $X, and then fell slightly in the following year.

Exports by Country

Belgium (X tons), Germany (X tons) and Poland (X tons) were the main destinations of chocolate exports from Italy, with a combined 46% share of total exports. France, the United States, Russia, Spain, Austria, the UK, Chile and Hungary lagged somewhat behind, together accounting for 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 the United States (with a CAGR of +34.1%), while the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Poland ($X) and Germany ($X) appeared to be the largest markets for chocolate exported from Italy worldwide, with a combined 45% share of total exports. These countries were followed by France, the United States, Russia, Spain, the UK, Austria, Hungary and Chile, which together accounted for a further 35%.

Among the main countries of destination, the United States, with a CAGR of +35.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 8.5%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($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 Germany (+2.2%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Italy

In 2022, supplies from abroad of chocolate and other food preparations containing cocoa decreased by -10.8% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 25%. As a result, imports reached the peak of X tons, and then shrank in the following year.

In value terms, chocolate imports fell to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by 22% against the previous year. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Belgium (X tons), Germany (X tons) and Spain (X tons) were the main suppliers of chocolate imports to Italy, with a combined 86% share of total imports. France, Romania, Austria, Poland and the Netherlands lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +22.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Germany ($X) and France ($X) appeared to be the largest chocolate suppliers to Italy, together accounting for 81% of total imports. Romania, Spain, Poland, Austria and the Netherlands lagged somewhat behind, together accounting for a further 17%.

Among the main suppliers, Poland, with a CAGR of +30.4%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, picking up by 1.7% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 an increase of 12%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Romania ($X per ton), while the price for Austria ($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 (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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