Slovenia: Chocolate Market 2024

Chocolate Market Size in Slovenia

The Slovene chocolate market soared to $X in 2022, picking up by 38% against the previous year. In general, consumption, however, showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Chocolate Production in Slovenia

In value terms, chocolate production surged to $X in 2022 estimated in export price. In general, production, however, showed a abrupt decrease. Over the period under review, production reached the peak level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Slovenia

In 2022, after six years of growth, there was significant decline in shipments abroad of chocolate and cocoa products, when their volume decreased by -34.5% to X tons. In general, exports, however, showed a strong expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 40%. The exports peaked at X tons in 2021, and then contracted sharply in the following year.

In value terms, chocolate exports contracted sharply to $X in 2022. Over the period under review, exports, however, recorded a prominent increase. The pace of growth appeared the most rapid in 2019 with an increase of 47% against the previous year. The exports peaked at $X in 2021, and then dropped dramatically in the following year.

Exports by Country

Croatia (X tons), France (X tons) and Bulgaria (X tons) were the main destinations of chocolate exports from Slovenia, with a combined 44% share of total exports. Slovakia, Poland, Spain, Hungary, Austria, the Czech Republic, the Netherlands, Italy, Serbia and Portugal lagged somewhat behind, together accounting for a further 49%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the Netherlands (with a CAGR of +113.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate exported from Slovenia were Croatia ($X), Bulgaria ($X) and Slovakia ($X), together accounting for 49% of total exports.

Among the main countries of destination, Slovakia, with a CAGR of +102.6%, recorded the highest rates of growth with regard to the value of exports, 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, growing by 13% against the previous year. In general, export price indicated perceptible growth from 2012 to 2022: its price increased at an average annual rate of +4.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate export price increased by +57.6% against 2015 indices. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Austria ($X per ton), while the average price for exports to France ($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 Austria (+12.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Slovenia

In 2022, after four years of growth, there was decline in overseas purchases of chocolate and cocoa products, when their volume decreased by -1.5% to X tons. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 13%. As a result, imports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, chocolate imports shrank to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.2% 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 +50.1% against 2015 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 18% against the previous year. As a result, imports attained the peak of $X, and then reduced in the following year.

Imports by Country

Germany (X tons), Austria (X tons) and Italy (X tons) were the main suppliers of chocolate imports to Slovenia, with a combined 62% share of total imports. Poland, Croatia, Switzerland, the Netherlands, Belgium, Serbia, Hungary, the Czech Republic, Spain and North Macedonia lagged somewhat behind, together comprising a further 33%.

From 2012 to 2022, the biggest increases were recorded for the Czech Republic (with a CAGR of +34.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of chocolate and cocoa products to Slovenia, comprising 31% of total imports. The second position in the ranking was held by Austria ($X), with a 16% share of total imports. It was followed by Italy, with a 15% share.

From 2012 to 2022, the average annual growth rate of value from Germany stood at +4.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+0.8% per year) and Italy (+5.2% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, with a decrease of -4.9% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 7.5% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped slightly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the Czech Republic ($X per ton), while the price for North Macedonia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hungary (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform