Scandinavia: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Scandinavia

The Scandinavia cocoa powder with sugar market fell to $X in 2021, standing approx. at the previous year. Overall, consumption continues to indicate a slight contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Scandinavia

In value terms, cocoa powder with sugar production amounted to $X in 2021 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 100%. As a result, production reached the peak level of $X. From 2018 to 2021, production growth failed to regain momentum.

Exports of Cocoa Powder (Containing Added Sugar)

Exports in Scandinavia

For the fourth year in a row, Scandinavia recorded decline in shipments abroad of cocoa powder (containing added sugar), which decreased by -26% to X tons in 2021. Overall, exports showed a noticeable contraction. The pace of growth appeared the most rapid in 2017 when exports increased by 64% against the previous year. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, cocoa powder with sugar exports contracted slightly to $X in 2021. Over the period under review, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by 44% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sweden prevails in exports structure, finishing at X tons, which was approx. 89% of total exports in 2021. It was distantly followed by Denmark (X tons), comprising a 10% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to cocoa powder with sugar exports from Sweden stood at -4.7%. At the same time, Denmark (+5.8%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in Scandinavia, with a CAGR of +5.8% from 2012-2021. While the share of Denmark (+5.8 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Sweden (-5.5 p.p.) displayed negative dynamics.

In value terms, Sweden ($X) remains the largest cocoa powder with sugar supplier in Scandinavia, comprising 75% of total exports. The second position in the ranking was held by Denmark ($X), with a 23% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Sweden totaled -2.3%.

Export Prices by Country

The export price in Scandinavia stood at $X per ton in 2021, with an increase of 33% against the previous year. Export price indicated measured growth from 2012 to 2021: its price increased at an average annual rate of +3.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, cocoa powder with sugar export price increased by +118.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the export price increased by 55%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Denmark ($X per ton), while Sweden totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sweden (+2.5%).

Imports of Cocoa Powder (Containing Added Sugar)

Imports in Scandinavia

In 2021, cocoa powder with sugar imports in Scandinavia reduced to X tons, with a decrease of -10% on 2020 figures. In general, imports recorded a noticeable setback. The pace of growth was the most pronounced in 2017 with an increase of 13% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, cocoa powder with sugar imports expanded to $X in 2021. Over the period under review, imports saw a perceptible contraction. The most prominent rate of growth was recorded in 2017 when imports increased by 13%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Norway (X tons), Denmark (X tons) and Finland (X tons) represented roughly 84% of total imports in 2021. It was distantly followed by Sweden (X tons), comprising a 14% share of total imports. Iceland (X tons) took a relatively small share of total imports.

From 2012 to 2021, the biggest increases were recorded for Norway (with a CAGR of +5.6%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, the largest cocoa powder with sugar importing markets in Scandinavia were Finland ($X), Norway ($X) and Denmark ($X), with a combined 76% share of total imports.

Norway, with a CAGR of +2.3%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2021, the import price in Scandinavia amounted to $X per ton, with an increase of 13% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, 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 (+3.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform