Luxembourg: Chocolate Market 2024

Chocolate Exports

Exports from Luxembourg

In 2022, the amount of chocolate and other food preparations containing cocoa exported from Luxembourg fell to X tons, with a decrease of -7.8% against the previous year. Overall, total exports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.6% 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 +77.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 with an increase of 92%. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, chocolate exports plummeted to $X in 2022. Over the period under review, exports, however, continue to indicate a measured increase. The most prominent rate of growth was recorded in 2021 when exports increased by 151% against the previous year. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Belgium (X tons), France (X tons) and Germany (X tons) were the main destinations of chocolate exports from Luxembourg, with a combined 90% share of total exports. These countries were followed by Azerbaijan and Portugal, which together accounted for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Portugal (with a CAGR of +109.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Luxembourg were Belgium ($X), France ($X) and Germany ($X), together comprising 91% of total exports. Azerbaijan and Portugal lagged somewhat behind, together comprising a further 8.8%.

Portugal, with a CAGR of +95.9%, 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, dropping by -27.8% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 35% against the previous year. The export price peaked at $X per ton in 2021, and then contracted notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Portugal ($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 the United Arab Emirates (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Luxembourg

In 2022, the amount of chocolate and other food preparations containing cocoa imported into Luxembourg fell modestly to X tons, standing approx. at 2021 figures. The total import volume increased at an average annual rate of +3.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2016 when imports increased by 14% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then declined in the following year.

In value terms, chocolate imports rose modestly to $X in 2022. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.2% 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 +39.3% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 35% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of chocolate to Luxembourg, accounting for a 57% share of total imports. Moreover, chocolate imports from Belgium exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. The third position in this ranking was held by France (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+2.7% per year) and France (+5.1% per year).

In value terms, Belgium ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Luxembourg, comprising 51% of total imports. The second position in the ranking was held by France ($X), with a 23% share of total imports. It was followed by Germany, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Belgium stood at +5.9%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+5.9% per year) and Germany (+0.9% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, growing by 4.8% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 when the average import price increased by 22% against the previous year. The import price peaked in 2022 and is likely to see gradual growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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