Norway: Cocoa Powder Market 2024

Cocoa Powder Market Size in Norway

After two years of growth, the Norwegian cocoa powder market decreased by -13.7% to $X in 2022. In general, consumption saw a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Cocoa Powder Production in Norway

In value terms, cocoa powder production shrank modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate measured growth. The growth pace was the most rapid in 2015 when the production volume increased by 226% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Cocoa Powder Exports

Exports from Norway

Cocoa powder exports from Norway totaled X tons in 2022, picking up by 11% compared with the previous year. In general, exports recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of 25,532% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, cocoa powder exports rose modestly to $X in 2022. Over the period under review, exports enjoyed significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 18,007% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports by Country

Sweden (X tons) was the main destination for cocoa powder exports from Norway, with a 71% share of total exports. Moreover, cocoa powder exports to Sweden exceeded the volume sent to the second major destination, Denmark (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to Sweden amounted to +99.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+27.2% per year) and Finland (+34.1% per year).

In value terms, Sweden ($X) remains the key foreign market for cocoa powder (not sweetened) exports from Norway, comprising 72% of total exports. The second position in the ranking was held by Denmark ($X), with a 17% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Sweden stood at +89.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Denmark (+27.1% per year) and Finland (+36.7% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, dropping by -7.1% against the previous year. Overall, the export price recorded a deep setback. The pace of growth was the most pronounced in 2016 an increase of 25% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Finland ($X per ton), while the average price for exports to Denmark ($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 Finland (+1.9%), while the prices for the other major destinations experienced a decline.

Cocoa Powder Imports

Imports into Norway

After four years of growth, purchases abroad of cocoa powder (not sweetened) decreased by -3.7% to X tons in 2022. Overall, total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +7.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 with an increase of 25%. Imports peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, cocoa powder imports contracted to $X in 2022. The total import value increased at an average annual rate of +2.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 32%. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the Netherlands (X tons) constituted the largest supplier of cocoa powder to Norway, with a 56% share of total imports. Moreover, cocoa powder imports from the Netherlands 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 15% share.

From 2012 to 2022, the average annual growth rate of volume from the Netherlands totaled +6.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+10.1% per year) and France (+21.7% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa powder (not sweetened) to Norway, comprising 56% of total imports. The second position in the ranking was taken by France ($X), with a 17% share of total imports. It was followed by Germany, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the Netherlands was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: France (+17.2% per year) and Germany (+2.4% per year).

Import Prices by Country

The average cocoa powder import price stood at $X per ton in 2022, which is down by -6.3% against the previous year. Over the period under review, the import price saw a abrupt descent. The most prominent rate of growth was recorded in 2016 an increase of 29%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Austria ($X per ton) and France ($X per ton), while the price for Germany ($X per ton) and Spain ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (-3.3%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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