Slovakia: Chocolate Market 2024

Chocolate Market Size in Slovakia

The Slovak chocolate market declined remarkably to $X in 2022, which is down by -22.3% against the previous year. Over the period under review, consumption, however, showed prominent growth. Over the period under review, the market hit record highs at $X in 2021, and then shrank rapidly in the following year.

Chocolate Production in Slovakia

In value terms, chocolate production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2016 with an increase of 603%. Over the period under review, production reached the peak level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Slovakia

After two years of decline, shipments abroad of chocolate and other food preparations containing cocoa increased by 14% to X tons in 2022. Over the period under review, exports continue to indicate a buoyant increase. The growth pace was the most rapid in 2016 when exports increased by 241% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports rose notably to $X in 2022. In general, exports showed buoyant growth. The growth pace was the most rapid in 2014 when exports increased by 78% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Poland (X tons), the Czech Republic (X tons) and Hungary (X tons) were the main destinations of chocolate exports from Slovakia, with a combined 84% share of total exports. These countries were followed by Germany, Belgium and Greece, which together accounted for a further 15%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Germany (with a CAGR of +22,858.1%), while the other leaders experienced more modest paces of growth.

In value terms, Poland ($X), the Czech Republic ($X) and Hungary ($X) appeared to be the largest markets for chocolate exported from Slovakia worldwide, with a combined 84% share of total exports. Germany, Belgium and Greece lagged somewhat behind, together comprising a further 15%.

Germany, with a CAGR of +20,310.2%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The average chocolate export price stood at $X per ton in 2022, which is down by -2.8% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the average export price increased by 156% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Belgium ($X per ton) and Hungary ($X per ton), while the average price for exports to Greece ($X per ton) and Germany ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the Czech Republic (+0.0%), while the prices for the other major destinations experienced a decline.

Chocolate Imports

Imports into Slovakia

In 2022, supplies from abroad of chocolate and other food preparations containing cocoa increased by 6.6% to X tons, rising for the third consecutive year after four years of decline. Over the period under review, imports enjoyed strong growth. The pace of growth appeared the most rapid in 2013 with an increase of 91% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the immediate term.

In value terms, chocolate imports contracted modestly to $X in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 70% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Belgium (X tons) constituted the largest supplier of chocolate to Slovakia, accounting for a 39% share of total imports. Moreover, chocolate imports from Belgium exceeded the figures recorded by the second-largest supplier, the UK (X tons), threefold. Poland (X tons) ranked third in terms of total imports with an 8.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Belgium stood at +24.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+12.6% per year) and Poland (+22.4% per year).

In value terms, Belgium ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Slovakia, comprising 35% of total imports. The second position in the ranking was held by the UK ($X), with a 15% share of total imports. It was followed by the Czech Republic, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Belgium amounted to +23.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+12.3% per year) and the Czech Republic (+5.0% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, dropping by -7.5% against the previous year. Overall, the import price showed a slight decline. The pace of growth appeared the most rapid in 2017 an increase of 90%. Over the period under review, average import prices hit record highs 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 the Czech Republic ($X per ton), while the price for Austria ($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 Czech Republic (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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