Luxembourg: Cocoa Powder Market 2024

Cocoa Powder Market Size in Luxembourg

After two years of decline, the Luxembourg cocoa powder market increased by 12% to $X in 2022. In general, consumption recorded a relatively flat trend pattern. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Cocoa Powder Production in Luxembourg

In value terms, cocoa powder production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2019 when the production volume increased by 42% against the previous year. Cocoa powder production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Cocoa Powder Exports

Exports from Luxembourg

In 2022, overseas shipments of cocoa powder (not sweetened) decreased by -25.9% to X tons for the first time since 2018, thus ending a three-year rising trend. Over the period under review, exports, however, showed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 162%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, cocoa powder exports fell to $X in 2022. Overall, exports, however, posted a perceptible increase. The most prominent rate of growth was recorded in 2017 when exports increased by 159% 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 somewhat lower figure.

Exports by Country

Hungary (X kg), France (X kg) and Germany (X kg) were the main destinations of cocoa powder exports from Luxembourg, with a combined 86% share of total exports.

From 2012 to 2022, the biggest increases were recorded for France (with a CAGR of +16.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, France ($X), Belgium ($X) and Germany ($X) constituted the largest markets for cocoa powder exported from Luxembourg worldwide, together comprising 86% of total exports.

Among the main countries of destination, France, with a CAGR of +14.1%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average cocoa powder export price stood at $X per ton in 2022, with an increase of 19% against the previous year. Overall, the export price, however, recorded a abrupt decrease. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Hungary ($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 Belgium (+0.1%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Luxembourg

In 2022, overseas purchases of cocoa powder (not sweetened) increased by 9.8% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by 145% against the previous year. As a result, imports attained the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, cocoa powder imports rose modestly to $X in 2022. In general, imports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2018 when imports increased by 61% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The Netherlands (X tons), Belgium (X tons) and Germany (X tons) were the main suppliers of cocoa powder imports to Luxembourg, with a combined 82% share of total imports. France and Austria lagged somewhat behind, together comprising a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Austria (with a CAGR of +10.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the Netherlands ($X) and Germany ($X) were the largest cocoa powder suppliers to Luxembourg, together accounting for 68% of total imports. France and Austria lagged somewhat behind, together comprising a further 18%.

Among the main suppliers, Austria, with a CAGR of +14.8%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, with a decrease of -6.7% against the previous year. Overall, the import price saw a mild decline. The pace of growth appeared the most rapid in 2020 an increase of 66%. Over the period under review, average import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+4.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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