Slovakia: Cocoa Paste Market 2024

Cocoa Paste Market Size in Slovakia

In 2021, after three years of growth, there was significant decline in the Slovak cocoa paste market, when its value decreased by -15.9% to $X. The market value increased at an average annual rate of +2.6% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then reduced remarkably in the following year.

Cocoa Paste Production in Slovakia

In value terms, cocoa paste production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.8% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 25%. As a result, production reached the peak level of $X, and then dropped in the following year.

Cocoa Paste Exports

Exports from Slovakia

In 2021, approx. X tons of cocoa paste were exported from Slovakia; picking up by 7.4% against the previous year's figure. The total export volume increased at an average annual rate of +4.0% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2016 with an increase of 36% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, cocoa paste exports skyrocketed to $X in 2021. The total export value increased at an average annual rate of +4.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2020 when exports increased by 40% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Bulgaria (X tons), Russia (X tons) and Poland (X tons) were the main destinations of cocoa paste exports from Slovakia, together accounting for 81% of total exports.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +56.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Bulgaria ($X), Russia ($X) and Lithuania ($X) were the largest markets for cocoa paste exported from Slovakia worldwide, together accounting for 80% of total exports.

Russia, with a CAGR of +55.7%, recorded the highest growth rate of 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

In 2021, the average cocoa paste export price amounted to $X per ton, growing by 7.6% against the previous year. Over the period under review, the export price continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the average export price increased by 18% against the previous year. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat for the major external markets. In 2021, amid the top suppliers, the countries with the highest prices were Germany ($X per ton) and Lithuania ($X per ton), while the average price for exports to Bulgaria ($X per ton) and Poland ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+6.1%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Paste Imports

Imports into Slovakia

After two years of growth, supplies from abroad of cocoa paste decreased by -67% to X tons in 2021. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 242% against the previous year. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, cocoa paste imports declined sharply to $X in 2021. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by 173% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, the Netherlands (X tons) constituted the largest supplier of cocoa paste to Slovakia, with a 67% share of total imports. Moreover, cocoa paste imports from the Netherlands exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. The third position in this ranking was held by France (X tons), with a 0.7% share.

From 2012 to 2021, the average annual growth rate of volume from the Netherlands totaled +44.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.7% per year) and France (-50.5% per year).

In value terms, the Netherlands ($X) constituted the largest supplier of cocoa paste to Slovakia, comprising 64% of total imports. The second position in the ranking was held by Germany ($X), with a 30% share of total imports. It was followed by France, with a 1.9% share.

From 2012 to 2021, the average annual growth rate of value from the Netherlands totaled +43.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-11.1% per year) and France (-39.7% per year).

Import Prices by Country

The average cocoa paste import price stood at $X per ton in 2021, growing by 30% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2016; however, from 2017 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+32.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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