Norway: Chocolate Market 2024

Chocolate Market Size in Norway

In 2022, after two years of growth, there was decline in the Norwegian chocolate market, when its value decreased by -1.7% to $X. Over the period under review, consumption showed a relatively flat trend pattern. Chocolate consumption peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Chocolate Production in Norway

In value terms, chocolate production reduced modestly to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 135%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Norway

In 2022, the amount of chocolate and cocoa products exported from Norway amounted to X tons, picking up by 6.5% on the previous year. The total export volume increased at an average annual rate of +1.8% 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 2018 with an increase of 29% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports totaled $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when exports increased by 34%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Sweden (X tons) was the main destination for chocolate exports from Norway, with a 64% share of total exports. Moreover, chocolate exports to Sweden exceeded the volume sent to the second major destination, Germany (X tons), threefold. Lithuania (X tons) ranked third in terms of total exports with a 4% share.

From 2012 to 2022, the average annual growth rate of volume to Sweden totaled +2.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+9.3% per year) and Lithuania (+6.3% per year).

In value terms, Sweden ($X) remains the key foreign market for chocolate and cocoa products exports from Norway, comprising 60% of total exports. The second position in the ranking was taken by Germany ($X), with a 23% share of total exports. It was followed by Denmark, with a 4.4% share.

From 2012 to 2022, the average annual growth rate of value to Sweden was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+5.6% per year) and Denmark (-13.6% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, leveling off at the previous year. In general, the export price, however, showed a pronounced contraction. The most prominent rate of growth was recorded in 2017 when the average export price increased by 14% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to Lithuania ($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 Austria (+14.3%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Norway

For the fourth consecutive year, Norway recorded growth in overseas purchases of chocolate and cocoa products, which increased by 3.5% to X tons in 2022. The total import volume increased at an average annual rate of +1.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 6.2%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate imports declined to $X in 2022. The total import value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 18%. As a result, imports attained the peak of $X, and then declined in the following year.

Imports by Country

Sweden (X tons), Germany (X tons) and Belgium (X tons) were the main suppliers of chocolate imports to Norway, with a combined 51% share of total imports. Lithuania, the Netherlands, Poland, France, Denmark, the UK, Spain, Italy and Finland lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for Poland (with a CAGR of +19.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Norway were Sweden ($X), Germany ($X) and Belgium ($X), with a combined 42% share of total imports. The Netherlands, Poland, Denmark, Lithuania, the UK, Italy, France, Spain and Finland lagged somewhat behind, together accounting for a further 50%.

Poland, with a CAGR of +20.5%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, waning by -4.6% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average import price increased by 13% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced modestly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Denmark (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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