Slovakia: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in Slovakia

The Slovak market for chocolate bars with cereals, fruit or nuts soared to $X in 2022, with an increase of 37% against the previous year. Overall, consumption showed a remarkable increase. Over the period under review, the market hit record highs in 2022 and is likely to see steady growth in the immediate term.

Production of Chocolate Bars with Cereals, Fruit or Nuts in Slovakia

In value terms, production of chocolate bars with cereals, fruit or nuts surged to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a deep downturn. The pace of growth was the most pronounced in 2020 when the production volume increased by 138% against the previous year. Production of peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Slovakia

In 2022, shipments abroad of chocolate bars with cereals, fruit or nuts increased by 47% to X tons, rising for the sixth year in a row after two years of decline. In general, exports showed a temperate increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. Overall, exports posted a tangible increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Czech Republic (X tons) was the main destination for exports of chocolate bars with cereals, fruit or nuts from Slovakia, with a 41% share of total exports. Moreover, exports of chocolate bars with cereals, fruit or nuts to the Czech Republic exceeded the volume sent to the second major destination, Austria (X tons), threefold. The third position in this ranking was taken by Russia (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the Czech Republic stood at +8.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Austria (+12.4% per year) and Russia (+281.3% per year).

In value terms, the Czech Republic ($X) remains the key foreign market for chocolate bars with cereals, fruit or nuts exports from Slovakia, comprising 44% of total exports. The second position in the ranking was held by Russia ($X), with a 14% share of total exports. It was followed by Austria, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the Czech Republic amounted to +14.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Russia (+278.5% per year) and Austria (+13.1% per year).

Export Prices by Country

In 2022, the average export price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, rising by 4.8% against the previous year. Overall, export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for chocolate bars with cereals, fruit or nuts increased by +21.5% against 2019 indices. The pace of growth was the most pronounced in 2015 when the average export price increased by 47%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Hungary ($X per ton), while the average price for exports to Spain ($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 the Czech Republic (+5.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into Slovakia

In 2022, purchases abroad of chocolate bars with cereals, fruit or nuts increased by 42% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, total imports indicated a buoyant increase from 2012 to 2022: its volume increased at an average annual rate of +10.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by 47% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, imports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. Overall, imports saw buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Germany (X tons), the Czech Republic (X tons) and Hungary (X tons) were the main suppliers of imports of chocolate bars with cereals, fruit or nuts to Slovakia, together accounting for 48% of total imports. Austria, Poland, Romania, Bulgaria, Belgium and Switzerland lagged somewhat behind, together accounting for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Romania (with a CAGR of +144.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cereal, fruit or nut chocolate bar suppliers to Slovakia were Germany ($X), the Czech Republic ($X) and Hungary ($X), together accounting for 38% of total imports. Poland, Austria, Romania, Bulgaria, Belgium and Switzerland lagged somewhat behind, together accounting for a further 8.7%.

Romania, with a CAGR of +137.5%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, with an increase of 12% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2015 when the average import price increased by 17%. Over the period under review, average import prices attained the maximum in 2022 and is likely to see gradual growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Poland (+6.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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