Luxembourg: Chocolate Market 2024

Chocolate Market Size in Luxembourg

The Luxembourg chocolate market contracted to $X in 2022, falling by -11.9% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw a relatively flat trend pattern. Chocolate consumption peaked at $X in 2021, and then dropped in the following year.

Chocolate Exports

Exports from Luxembourg

In 2022, overseas shipments of chocolate and cocoa products increased by 9.2% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports, however, saw a abrupt decline. The pace of growth appeared the most rapid in 2018 with an increase of 63% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports reduced slightly to $X in 2022. Overall, exports, however, saw a deep reduction. The pace of growth appeared the most rapid in 2018 with an increase of 95% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

Exports by Country

France (X tons) was the main destination for chocolate exports from Luxembourg, with a 63% share of total exports. Moreover, chocolate exports to France exceeded the volume sent to the second major destination, Belgium (X tons), fivefold. Malaysia (X tons) ranked third in terms of total exports with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to France totaled -7.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+5.9% per year) and Malaysia (+142.2% per year).

In value terms, France ($X) remains the key foreign market for chocolate and cocoa products exports from Luxembourg, comprising 44% of total exports. The second position in the ranking was held by Malaysia ($X), with a 12% share of total exports. It was followed by Belgium, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value to France amounted to -11.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (+154.5% per year) and Belgium (+5.1% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, which is down by -9.6% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of 19% against the previous year. The export price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to the United Arab Emirates ($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 Malaysia (+5.3%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Luxembourg

In 2022, approx. X tons of chocolate and cocoa products were imported into Luxembourg; declining by -4.7% compared with 2021 figures. In general, imports recorded a slight contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 13% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, chocolate imports shrank to $X in 2022. Over the period under review, imports saw a mild setback. The most prominent rate of growth was recorded in 2018 when imports increased by 18%. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Belgium (X tons) constituted the largest chocolate supplier to Luxembourg, with a 47% share of total imports. Moreover, chocolate imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. France (X tons) ranked third in terms of total imports with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-3.8% per year) and France (-1.0% per year).

In value terms, Belgium ($X) constituted the largest supplier of chocolate and cocoa products to Luxembourg, comprising 45% of total imports. The second position in the ranking was taken by Germany ($X), with a 20% share of total imports. It was followed by France, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled -1.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-4.9% per year) and France (-0.6% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, shrinking by -7.2% against the previous year. In general, the import price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 10% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 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 Switzerland ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+0.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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