Slovenia: Cocoa Powder Market 2024

Cocoa Powder Market Size in Slovenia

For the third year in a row, the Slovene cocoa powder market recorded growth in sales value, which increased by 1.9% to $X in 2022. Overall, consumption, however, continues to indicate a perceptible reduction. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Cocoa Powder Production in Slovenia

In value terms, cocoa powder production surged to $X in 2022 estimated in export price. In general, production, however, continues to indicate a abrupt decrease. Cocoa powder production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Cocoa Powder Exports

Exports from Slovenia

In 2022, shipments abroad of cocoa powder (not sweetened) decreased by -65% to X tons, falling for the third year in a row after four years of growth. Over the period under review, exports saw a noticeable descent. The growth pace was the most rapid in 2016 with an increase of 289% against the previous year. The exports peaked at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, cocoa powder exports declined sharply to $X in 2022. Overall, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when exports increased by 154%. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Croatia (X tons) was the main destination for cocoa powder exports from Slovenia, with a 38% share of total exports. Moreover, cocoa powder exports to Croatia exceeded the volume sent to the second major destination, Serbia (X tons), fivefold. The third position in this ranking was held by Bosnia and Herzegovina (X tons), with a 7.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Croatia stood at +4.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Serbia (+51.1% per year) and Bosnia and Herzegovina (+24.6% per year).

In value terms, Croatia ($X) emerged as the key foreign market for cocoa powder (not sweetened) exports from Slovenia, comprising 38% of total exports. The second position in the ranking was taken by Belgium ($X), with an 11% share of total exports. It was followed by North Macedonia, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value to Croatia amounted to +4.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+94.9% per year) and North Macedonia (+2.6% per year).

Export Prices by Country

In 2022, the average cocoa powder export price amounted to $X per ton, increasing by 36% against the previous year. In general, the export price recorded moderate growth. The most prominent rate of growth was recorded in 2015 an increase of 110% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to Serbia ($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 Belgium (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Cocoa Powder Imports

Imports into Slovenia

In 2022, overseas purchases of cocoa powder (not sweetened) decreased by -0.6% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, total imports indicated a measured expansion from 2012 to 2022: its volume increased at an average annual rate of +3.3% 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 +26.4% against 2017 indices. The growth pace was the most rapid in 2016 when imports increased by 58%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, cocoa powder imports shrank modestly to $X in 2022. In general, imports recorded a slight setback. The most prominent rate of growth was recorded in 2016 with an increase of 68%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Germany (X tons), the Netherlands (X tons) and Spain (X tons) were the main suppliers of cocoa powder imports to Slovenia, together comprising 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +44.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest cocoa powder suppliers to Slovenia were Germany ($X), the Netherlands ($X) and Spain ($X), with a combined 87% share of total imports.

Germany, with a CAGR of +33.4%, 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

In 2022, the average cocoa powder import price amounted to $X per ton, reducing by -4.2% against the previous year. Overall, the import price recorded a noticeable reduction. The pace of growth appeared the most rapid in 2021 an increase of 21% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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 Malaysia ($X per ton), while the price for Spain ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+2.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform