Lithuania: Cocoa Powder Market 2024

Cocoa Powder Market Size in Lithuania

After two years of growth, the Lithuanian cocoa powder market decreased by -14.8% to $X in 2022. Over the period under review, consumption saw a mild downturn. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Cocoa Powder Production in Lithuania

In value terms, cocoa powder production expanded slightly to $X in 2022 estimated in export price. Over the period under review, production, however, saw a mild contraction. The pace of growth was the most pronounced in 2017 when the production volume increased by 66% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Lithuania

In 2022, overseas shipments of cocoa powder (not sweetened) were finally on the rise to reach X tons after four years of decline. In general, exports saw a remarkable increase. The pace of growth appeared the most rapid in 2017 with an increase of 143% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, cocoa powder exports soared to $X in 2022. Overall, exports showed a perceptible increase. The pace of growth was the most pronounced in 2017 when exports increased by 138% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Belarus (X tons), Latvia (X tons) and Slovakia (X tons) were the main destinations of cocoa powder exports from Lithuania, together comprising 55% of total exports. Estonia, Russia, Croatia, Romania, Uzbekistan and Poland lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Croatia (with a CAGR of +377.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cocoa powder exported from Lithuania were Belarus ($X), Latvia ($X) and Russia ($X), with a combined 58% share of total exports. Estonia, Slovakia, Croatia, Uzbekistan, Romania and Poland lagged somewhat behind, together accounting for a further 34%.

Croatia, with a CAGR of +379.1%, 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 cocoa powder export price amounted to $X per ton, declining by -12.6% against the previous year. Over the period under review, the export price showed a deep slump. The pace of growth appeared the most rapid in 2016 an increase of 26% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Romania ($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 (+0.9%), while the prices for the other major destinations experienced mixed trend patterns.

Cocoa Powder Imports

Imports into Lithuania

In 2022, supplies from abroad of cocoa powder (not sweetened) increased by 6.4% to X tons, rising for the second year in a row after three years of decline. Overall, total imports indicated tangible growth from 2012 to 2022: its volume increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +13.9% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 48% against the previous year. Over the period under review, imports hit record highs at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, cocoa powder imports rose to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 30% against the previous year. Over the period under review, imports attained the maximum at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest cocoa powder supplier to Lithuania, with a 47% share of total imports. Moreover, cocoa powder imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Latvia (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the Netherlands totaled +8.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+3.8% per year) and Germany (+8.2% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa powder (not sweetened) to Lithuania, comprising 48% of total imports. The second position in the ranking was taken by Latvia ($X), with a 19% share of total imports. It was followed by Germany, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands totaled +2.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Latvia (+6.4% per year) and Germany (+3.1% per year).

Import Prices by Country

In 2022, the average cocoa powder import price amounted to $X per ton, dropping by -4.2% against the previous year. In general, the import price continues to indicate a noticeable setback. The pace of growth appeared the most rapid in 2016 when the average import price increased by 16%. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was France ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+13.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform