Scandinavia: Chocolate Market 2024

Chocolate Market Size in Scandinavia

The Scandinavia chocolate market shrank to $X in 2022, with a decrease of -1.8% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +9.7% 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 +13.3% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2021, and then fell slightly in the following year.

Chocolate Production in Scandinavia

In value terms, chocolate production dropped modestly to $X in 2022 estimated in export price. The total production indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +11.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +5.5% against 2020 indices. The growth pace was the most rapid in 2013 when the production volume increased by 75% against the previous year. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports in Scandinavia

In 2022, approx. X tons of chocolate and other food preparations containing cocoa were exported in Scandinavia; which is down by -4.7% against the previous year. The total export volume increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2013 when exports increased by 24% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports dropped to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when exports increased by 26% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sweden dominates exports structure, recording X tons, which was approx. 83% of total exports in 2022. Finland (X tons) ranks second in terms of the total exports with a 9.4% share, followed by Norway (7.6%).

Sweden was also the fastest-growing in terms of the chocolate and other food preparations containing cocoa exports, with a CAGR of +1.7% from 2012 to 2022. Norway (-1.5%) and Finland (-1.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Sweden increased by +5.2 percentage points.

In value terms, Sweden ($X) remains the largest chocolate supplier in Scandinavia, comprising 80% of total exports. The second position in the ranking was taken by Finland ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Sweden was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Finland (-1.8% per year) and Norway (-3.3% per year).

Export Prices by Country

In 2022, the export price in Scandinavia amounted to $X per ton, shrinking by -1.9% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the export price increased by 11%. Over the period under review, the export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (-0.2%), while the other leaders experienced a decline in the export price figures.

Chocolate Imports

Imports in Scandinavia

In 2022, the amount of chocolate and other food preparations containing cocoa imported in Scandinavia fell to X tons, approximately equating 2021 figures. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 20%. As a result, imports reached the peak of X tons, leveling off 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 +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 22%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Sweden was the largest importer of chocolate and other food preparations containing cocoa in Scandinavia, with the volume of imports finishing at X tons, which was approx. 55% of total imports in 2022. It was distantly followed by Norway (X tons) and Finland (X tons), together creating a 45% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Norway (with a CAGR of +5.6%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of imports in 2022.

In terms of the main importing countries, Norway, with a CAGR of +6.7%, 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 mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in Scandinavia amounted to $X per ton, with a decrease of -1.7% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 10% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Finland (+1.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform