Sweden: Chocolate Market 2024

Chocolate Market Size in Sweden

In 2022, the Swedish chocolate market was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. In general, consumption, however, showed a relatively flat trend pattern. Chocolate consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Sweden

In value terms, chocolate production rose significantly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced slump. The pace of growth was the most pronounced in 2015 with an increase of 28%. As a result, production reached the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Chocolate Exports

Exports from Sweden

Chocolate exports from Sweden was estimated at X tons in 2022, growing by 5.6% compared with the previous year's figure. The total export volume increased at an average annual rate of +3.3% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The growth pace was the most rapid in 2013 with an increase of 11%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, chocolate exports shrank to $X in 2022. Overall, total exports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +4.6% 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 +60.7% against 2015 indices. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. As a result, the exports reached the peak of $X, leveling off in the following year.

Exports by Country

Finland (X tons), Norway (X tons) and Denmark (X tons) were the main destinations of chocolate exports from Sweden, together comprising 49% of total exports. Belgium, Germany, the Netherlands, the UK, France and the United States lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the biggest increases were recorded for Belgium (with a CAGR of +30.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Norway ($X), Finland ($X) and Denmark ($X) appeared to be the largest markets for chocolate exported from Sweden worldwide, together accounting for 58% of total exports. Belgium, Germany, the Netherlands, the UK, the United States and France lagged somewhat behind, together accounting for a further 28%.

Among the main countries of destination, Belgium, with a CAGR of +29.7%, saw the highest growth rate of 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, declining by -5.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2021 an increase of 12%. As a result, the export price reached the peak level of $X per ton, and then dropped in the following year.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Norway ($X per ton), while the average price for exports to the UK ($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 Norway (+3.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Sweden

In 2022, the amount of chocolate and cocoa products imported into Sweden rose significantly to X tons, picking up by 12% against the previous year. The total import volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, chocolate imports expanded to $X in 2022. The total import value increased at an average annual rate of +3.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2017 when imports increased by 15%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Germany (X tons) constituted the largest chocolate supplier to Sweden, with a 24% share of total imports. Moreover, chocolate imports from Germany exceeded the figures recorded by the second-largest supplier, Poland (X tons), twofold. The third position in this ranking was held by the Netherlands (X tons), with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Germany amounted to +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+9.9% per year) and the Netherlands (+0.2% per year).

In value terms, Germany ($X) constituted the largest supplier of chocolate and cocoa products to Sweden, comprising 25% of total imports. The second position in the ranking was taken by the Netherlands ($X), with an 11% share of total imports. It was followed by Poland, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany stood at +3.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+2.1% per year) and Poland (+12.9% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, with a decrease of -7.7% against the previous year. In general, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 5.4%. The import price peaked at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Denmark ($X per ton), while the price for Lithuania ($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 (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :