Spain: Chocolate Market 2024

Chocolate Market Size in Spain

After two years of growth, the Spanish chocolate market decreased by -6.8% to $X in 2022. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Spain

In value terms, chocolate production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.2% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 with an increase of 7.6%. Chocolate production peaked at $X in 2021, and then contracted slightly in the following year.

Chocolate Exports

Exports from Spain

In 2022, exports of chocolate and cocoa products from Spain surged to X tons, growing by 18% against the year before. Overall, total exports indicated strong growth from 2012 to 2022: its volume increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +43.9% against 2015 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, chocolate exports totaled $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +6.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +37.8% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 23%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

France (X tons), Portugal (X tons) and Germany (X tons) were the main destinations of chocolate exports from Spain, with a combined 48% share of total exports. Belgium, the UK, Italy, Morocco, the Netherlands, Poland, the Czech Republic, Sweden, Greece and Algeria lagged somewhat behind, together comprising a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Morocco (with a CAGR of +28.0%), while the other leaders experienced more modest paces of growth.

In value terms, France ($X), Portugal ($X) and Germany ($X) constituted the largest markets for chocolate exported from Spain worldwide, with a combined 43% share of total exports. The UK, Italy, Belgium, Morocco, the Netherlands, Sweden, Poland, Greece, the Czech Republic and Algeria lagged somewhat behind, together accounting for a further 33%.

Among the main countries of destination, Morocco, with a CAGR of +30.1%, 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

In 2022, the average chocolate export price amounted to $X per ton, with a decrease of -5.4% against the previous year. In general, the export price continues to indicate a slight setback. The pace of growth appeared the most rapid in 2021 an increase of 14% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the UK ($X per ton), while the average price for exports to Poland ($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 Italy (+2.9%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Spain

In 2022, supplies from abroad of chocolate and cocoa products increased by 4.6% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when imports increased by 9%. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, chocolate imports totaled $X in 2022. The total import value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 16%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Germany (X tons), France (X tons) and Belgium (X tons) were the main suppliers of chocolate imports to Spain, with a combined 63% share of total imports. Italy, the Netherlands, Austria, Poland and the UK lagged somewhat behind, together comprising a further 27%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of +21.2%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Italy ($X) and France ($X) were the largest chocolate suppliers to Spain, with a combined 61% share of total imports. Belgium, the Netherlands, Poland, Austria and the UK lagged somewhat behind, together comprising a further 28%.

Poland, with a CAGR of +24.3%, recorded the highest growth rate of 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

The average chocolate import price stood at $X per ton in 2022, declining by -3.4% against the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by 7.4% against the previous year. The import price peaked at $X per ton in 2021, and then contracted 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 Italy ($X per ton), while the price for France ($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 UK (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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