Russian Federation: Chocolate Market 2024

Chocolate Market Size in the Russian Federation

For the seventh consecutive year, the Russian chocolate market recorded growth in sales value, which increased by 5.1% to $X in 2022. Over the period under review, the total consumption indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +6.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +42.4% against 2014 indices. Over the period under review, the market hit record highs in 2022 and is expected to retain growth in the immediate term.

Chocolate Production in the Russian Federation

In value terms, chocolate production amounted to $X in 2022 estimated in export price. Over the period under review, the total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.2% against 2020 indices. The pace of growth was the most pronounced in 2019 with an increase of 34%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from the Russian Federation

In 2022, approx. X tons of chocolate and other food preparations containing cocoa were exported from Russia; shrinking by -13.7% compared with 2021. Over the period under review, exports, however, saw prominent growth. The growth pace was the most rapid in 2017 with an increase of 63%. 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 declined remarkably to $X in 2022. In general, exports, however, posted a resilient increase. The growth pace was the most rapid in 2017 with an increase of 69%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Azerbaijan (X tons), Kazakhstan (X tons) and Ukraine (X tons) were the main destinations of chocolate exports from Russia, together accounting for 70% of total exports. Belarus, Mongolia, Tajikistan, Uzbekistan, Armenia and Kyrgyzstan lagged somewhat behind, together accounting for a further 29%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uzbekistan (with a CAGR of +101.9%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Russia were Kazakhstan ($X), Azerbaijan ($X) and Belarus ($X), with a combined 67% share of total exports. Ukraine, Mongolia, Armenia, Uzbekistan, Tajikistan and Kyrgyzstan lagged somewhat behind, together comprising a further 31%.

Uzbekistan, with a CAGR of +100.4%, 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

The average chocolate export price stood at $X per ton in 2022, waning by -7.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 26%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the average export prices remained at a 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 Armenia ($X per ton), while the average price for exports to Azerbaijan ($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 Tajikistan (+13.3%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into the Russian Federation

In 2022, purchases abroad of chocolate and other food preparations containing cocoa decreased by -6.9% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of +4.7% over the period 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 2013 with an increase of 33%. Imports peaked at X tons in 2021, and then declined in the following year.

In value terms, chocolate imports shrank to $X in 2022. The total import value increased at an average annual rate of +3.9% 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 2021 when imports increased by 30% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Belgium (X tons), Italy (X tons) and Belarus (X tons) were the main suppliers of chocolate imports to Russia, together accounting for 70% of total imports.

From 2012 to 2022, the biggest increases were recorded for Belarus (with a CAGR of +28.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Russia, comprising 41% of total imports. The second position in the ranking was taken by Italy ($X), with an 18% share of total imports. It was followed by Belarus, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Belgium amounted to +10.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+2.7% per year) and Belarus (+24.0% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, reducing by -4.9% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 12% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 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 Spain ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Latvia (+8.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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