Scandinavia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Scandinavia

The Scandinavia cocoa paste market reduced rapidly to $X in 2021, shrinking by -31.9% against the previous year. Overall, consumption enjoyed resilient growth. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Cocoa Paste Production in Scandinavia

In value terms, cocoa paste production reached $X in 2021 estimated in export price. The total production indicated perceptible growth from 2012 to 2021: its value increased at an average annual rate of +2.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -4.3% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 41%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Cocoa Paste Exports

Exports in Scandinavia

In 2021, overseas shipments of cocoa paste were finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Overall, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 470% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2021, the growth of the exports remained at a lower figure.

In value terms, cocoa paste exports surged to $X in 2021. In general, exports saw a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 514%. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Denmark (X tons) was the key exporter of cocoa paste, achieving 69% of total exports. It was distantly followed by Norway (X tons), mixing up a 26% share of total exports. Sweden (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to cocoa paste exports from Denmark stood at +23.1%. At the same time, Sweden (+29.6%) and Norway (+7.9%) displayed positive paces of growth. Moreover, Sweden emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +29.6% from 2012-2021. Denmark (+34 p.p.) and Sweden (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Norway saw its share reduced by -17.8% from 2012 to 2021, respectively.

In value terms, Denmark ($X) emerged as the largest cocoa paste supplier in Scandinavia, comprising 76% of total exports. The second position in the ranking was taken by Norway ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Denmark totaled +22.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Norway (+4.2% per year) and Sweden (+41.1% per year).

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, rising by 2.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the export price increased by 132% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 2021, the most notable rate of growth in terms of prices was attained by Sweden (+8.9%), while the other leaders experienced a decline in the export price figures.

Cocoa Paste Imports

Imports in Scandinavia

Cocoa paste imports shrank modestly to X tons in 2021, with a decrease of -3.2% compared with 2020 figures. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of 21%. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, cocoa paste imports reached $X in 2021. Over the period under review, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of 24% against the previous year. Over the period under review, imports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

Imports by Country

The countries with the highest levels of cocoa paste imports in 2021 were Sweden (X tons), Norway (X tons) and Finland (X tons), together resulting at 95% of total import. Iceland (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Sweden (with a CAGR of +4.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), Norway ($X) and Finland ($X) were the countries with the highest levels of imports in 2021, together comprising 95% of total imports.

Sweden, with a CAGR of +4.0%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, surging by 5.4% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 17% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, major importing countries recorded the following prices: in Norway ($X per ton) and Iceland ($X per ton), while Sweden ($X per ton) and Finland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+0.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform