Lithuania: Chocolate Market 2024

Chocolate Market Size in Lithuania

The Lithuanian chocolate market dropped to $X in 2022, with a decrease of -7.7% against the previous year. Over the period under review, consumption showed a pronounced decline. Chocolate consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Chocolate Production in Lithuania

In value terms, chocolate production fell modestly to $X in 2022 estimated in export price. In general, production recorded a abrupt contraction. The most prominent rate of growth was recorded in 2021 with an increase of 10% against the previous year. Chocolate production peaked at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Lithuania

For the seventh consecutive year, Lithuania recorded growth in overseas shipments of chocolate and cocoa products, which increased by 5% to X tons in 2022. Overall, total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.5% 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 +71.2% against 2012 indices. The growth pace was the most rapid in 2013 with an increase of 17%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

In value terms, chocolate exports expanded significantly to $X in 2022. In general, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +57.7% against 2015 indices. The pace of growth was the most pronounced in 2013 when exports increased by 24% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

The UK (X tons), the Netherlands (X tons) and Latvia (X tons) were the main destinations of chocolate exports from Lithuania, with a combined 37% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +57.0%), while the other leaders experienced more modest paces of growth.

In value terms, Latvia ($X), the UK ($X) and the Netherlands ($X) constituted the largest markets for chocolate exported from Lithuania worldwide, with a combined 34% share of total exports. Russia, Poland, Sweden, Norway, Germany, Estonia, France, the Czech Republic, Belarus and Uzbekistan lagged somewhat behind, together accounting for a further 50%.

Uzbekistan, with a CAGR of +55.7%, 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

In 2022, the average chocolate export price amounted to $X per ton, rising by 4.6% against the previous year. Over the period under review, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 5.7% 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.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Uzbekistan ($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 Uzbekistan (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Lithuania

For the seventh consecutive year, Lithuania recorded growth in overseas purchases of chocolate and cocoa products, which increased by 0.5% to X tons in 2022. The total import volume increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2019 when imports increased by 14%. Over the period under review, imports attained the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, chocolate imports stood at $X in 2022. The total import value increased at an average annual rate of +4.3% 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 2013 when imports increased by 17%. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

Poland (X tons), Germany (X tons) and Latvia (X tons) were the main suppliers of chocolate imports to Lithuania, together comprising 56% of total imports. The Netherlands, Belgium, Ukraine, Slovakia, Austria, Sweden, Italy, Hungary and Russia lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Slovakia (with a CAGR of +24.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Lithuania were Poland ($X), Germany ($X) and Latvia ($X), with a combined 59% share of total imports. The Netherlands, Belgium, Slovakia, Ukraine, Italy, Austria, Sweden, Hungary and Russia lagged somewhat behind, together comprising a further 32%.

Slovakia, with a CAGR of +23.8%, recorded the highest growth rate of the value of imports, in terms of the main suppliers 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, rising by 4.5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 when the average import price increased by 11% against the previous year. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+2.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform