Slovakia: Chocolate Market 2024

Chocolate Market Size in Slovakia

The Slovak chocolate market contracted to $X in 2022, with a decrease of -12.7% against the previous year. In general, consumption showed a abrupt descent. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Slovakia

In value terms, chocolate production reduced modestly to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by 21% against the previous year. Chocolate production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Slovakia

In 2022, the amount of chocolate and cocoa products exported from Slovakia amounted to X tons, picking up by 14% compared with the previous year. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 with an increase of 34% against the previous year. The exports peaked in 2022 and are likely to continue growth in the near future.

In value terms, chocolate exports surged to $X in 2022. The total export value increased at an average annual rate of +5.6% 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 2016 when exports increased by 21% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The Czech Republic (X tons), Poland (X tons) and Germany (X tons) were the main destinations of chocolate exports from Slovakia, with a combined 51% share of total exports. Hungary, Austria, Belgium, Russia, the UK, Lithuania, France, the Netherlands, Croatia and Sweden lagged somewhat behind, together accounting for a further 42%.

From 2012 to 2022, the biggest increases were recorded for Croatia (with a CAGR of +54.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Hungary ($X) were the largest markets for chocolate exported from Slovakia worldwide, with a combined 49% share of total exports. Poland, Austria, Russia, Belgium, the UK, France, Croatia, Sweden, the Netherlands and Lithuania lagged somewhat behind, together accounting for a further 42%.

Croatia, with a CAGR of +58.2%, saw the highest rates of growth with regard to the value of exports, among 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

In 2022, the average chocolate export price amounted to $X per ton, growing by 3.8% against the previous year. Overall, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the average export price increased by 6.7% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Lithuania ($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 Sweden (+3.4%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Slovakia

In 2022, after four years of growth, there was significant decline in purchases abroad of chocolate and cocoa products, when their volume decreased by -11.8% to X tons. Over the period under review, total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 51% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2021, and then shrank in the following year.

In value terms, chocolate imports shrank to $X in 2022. Overall, total imports indicated a resilient expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +7.0% against 2018 indices. The most prominent rate of growth was recorded in 2016 with an increase of 26%. Imports peaked at $X in 2021, and then contracted in the following year.

Imports by Country

The Czech Republic (X tons), Germany (X tons) and Poland (X tons) were the main suppliers of chocolate imports to Slovakia, together accounting for 47% of total imports. Belgium, Bulgaria, Austria, Hungary, France and the Netherlands lagged somewhat behind, together accounting for a further 25%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Bulgaria (with a CAGR of +74.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the Czech Republic ($X), Germany ($X) and Poland ($X) were the largest chocolate suppliers to Slovakia, together comprising 42% of total imports. Bulgaria, Hungary, Belgium, Austria, the Netherlands and France lagged somewhat behind, together comprising a further 21%.

Bulgaria, with a CAGR of +62.5%, recorded the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the average import price increased by 28% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Belgium ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+9.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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