Scandinavia: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Scandinavia

In 2022, the Scandinavia chocolate and confectionery market decreased by -14.1% to $X, falling for the second consecutive year after two years of growth. In general, consumption showed a pronounced reduction. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Chocolate And Confectionery Production in Scandinavia

In value terms, chocolate and confectionery production contracted to $X in 2022 estimated in export price. Overall, production showed a noticeable reduction. The most prominent rate of growth was recorded in 2020 with an increase of 4%. The level of production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Chocolate And Confectionery Exports

Exports in Scandinavia

Chocolate and confectionery exports rose modestly to X tons in 2022, picking up by 4.3% on the previous year's figure. The total export volume increased at an average annual rate of +3.0% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2013 when exports increased by 9.5%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, chocolate and confectionery exports shrank modestly to $X in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 18%. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Sweden represented the key exporting country with an export of about X tons, which accounted for 78% of total exports. Finland (X tons) held the second position in the ranking, distantly followed by Norway (X tons). All these countries together took near 22% share of total exports.

Exports from Sweden increased at an average annual rate of +3.2% from 2012 to 2022. At the same time, Norway (+3.3%) and Finland (+1.9%) displayed positive paces of growth. Moreover, Norway emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +3.3% from 2012-2022. From 2012 to 2022, the share of Finland decreased by -1.7 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) remains the largest chocolate and confectionery supplier in Scandinavia, comprising 78% of total exports. The second position in the ranking was taken by Finland ($X), with a 15% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at +4.4%. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (+0.4% per year) and Norway (+0.8% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2022, dropping by -4.6% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 9.7% against the previous year. As a result, the export price reached the peak level of $X per ton, and then declined slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+1.2%), while the other leaders experienced a decline in the export price figures.

Chocolate And Confectionery Imports

Imports in Scandinavia

Chocolate and confectionery imports amounted to X tons in 2022, surging by 8% against the previous year. The total import volume increased at an average annual rate of +2.4% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, chocolate and confectionery imports contracted modestly to $X in 2022. The total import value increased at an average annual rate of +2.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 11%. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

Sweden was the main importing country with an import of around X tons, which recorded 58% of total imports. Norway (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Finland (20%).

Sweden was also the fastest-growing in terms of the chocolate and confectionery imports, with a CAGR of +2.9% from 2012 to 2022. At the same time, Finland (+2.2%) and Norway (+1.7%) displayed positive paces of growth. From 2012 to 2022, the share of Sweden increased by +2.3 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X) constitutes the largest market for imported chocolate and confectionery in Scandinavia, comprising 53% of total imports. The second position in the ranking was taken by Norway ($X), with a 26% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Sweden stood at +2.5%. In the other countries, the average annual rates were as follows: Norway (+2.0% per year) and Finland (+1.8% per year).

Import Prices by Country

The import price in Scandinavia stood at $X per ton in 2022, reducing by -7.7% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the import price increased by 6.8% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Norway ($X per ton), while Sweden ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Norway (+0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform