Norway: Chocolate Market 2024

Chocolate Market Size in Norway

The Norwegian chocolate market stood at $X in 2022, increasing by 1.9% against the previous year. Overall, consumption showed a buoyant increase. Chocolate consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Chocolate Production in Norway

In value terms, chocolate production dropped notably to $X in 2022 estimated in export price. Overall, production, however, enjoyed buoyant growth. The pace of growth appeared the most rapid in 2021 with an increase of 86% against the previous year. As a result, production reached the peak level of $X, and then dropped remarkably in the following year.

Chocolate Exports

Exports from Norway

In 2022, overseas shipments of chocolate and other food preparations containing cocoa decreased by -7.5% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports showed a slight decrease. The most prominent rate of growth was recorded in 2013 with an increase of 96% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, chocolate exports dropped to $X in 2022. Overall, exports continue to indicate a pronounced shrinkage. The pace of growth appeared the most rapid in 2013 when exports increased by 79% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Sweden (X tons), Germany (X tons) and Lithuania (X tons) were the main destinations of chocolate exports from Norway, together comprising 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for Germany (with a CAGR of +12.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Germany ($X) and Lithuania ($X) were the largest markets for chocolate exported from Norway worldwide, with a combined 91% share of total exports.

Lithuania, with a CAGR of +11.5%, saw the highest rates of growth with regard to the value of exports, among 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, falling by -7.4% against the previous year. In general, the export price saw a slight shrinkage. The growth pace was the most rapid in 2014 when the average export price increased by 10%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the countries with the highest prices were Sweden ($X per ton) and Lithuania ($X per ton), while the average price for exports to Poland ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Austria (+17.7%), while the prices for the other major destinations experienced a decline.

Chocolate Imports

Imports into Norway

In 2022, the amount of chocolate and other food preparations containing cocoa imported into Norway soared to X tons, picking up by 16% on the previous year's figure. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.6% 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 +46.7% against 2017 indices. The growth pace was the most rapid in 2014 when imports increased by 28% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, chocolate imports rose significantly to $X in 2022. Over the period under review, total imports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +37.9% against 2014 indices. The growth pace was the most rapid in 2014 when imports increased by 41% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

Belgium (X tons), Sweden (X tons) and Poland (X tons) were the main suppliers of chocolate imports to Norway, together accounting for 86% of total imports. Hungary, the UK, Germany and the Netherlands lagged somewhat behind, together comprising a further 12%.

From 2012 to 2022, the biggest increases were recorded for Hungary (with a CAGR of +401.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), Sweden ($X) and Poland ($X) appeared to be the largest chocolate suppliers to Norway, together accounting for 83% of total imports. These countries were followed by the UK, Hungary, Germany and the Netherlands, which together accounted for a further 13%.

Among the main suppliers, Hungary, with a CAGR of +258.9%, recorded the highest rates of growth with regard to the value of imports, 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 -2.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2020 an increase of 12% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 the UK ($X per ton), while the price for Hungary ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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