Ukraine: Chocolate Market 2024

Chocolate Market Size in Ukraine

In 2022, the Ukrainian chocolate market decreased by -2.4% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, consumption showed a mild downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Chocolate Production in Ukraine

In value terms, chocolate production shrank slightly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 17%. Over the period under review, production attained the peak level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Ukraine

In 2022, exports of chocolate and cocoa products from Ukraine shrank markedly to X tons, with a decrease of -26.8% on the previous year. Over the period under review, exports recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 6.8% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports dropped significantly to $X in 2022. Overall, exports saw a abrupt decline. The most prominent rate of growth was recorded in 2021 with an increase of 16%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Romania (X tons), Bulgaria (X tons) and Georgia (X tons) were the main destinations of chocolate exports from Ukraine, with a combined 28% share of total exports. Moldova, Kazakhstan, Azerbaijan, Uzbekistan, Lithuania, Turkey, Hungary, Latvia, Yemen and Poland lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Poland (with a CAGR of +125.2%), while the other leaders experienced more modest paces of growth.

In value terms, Romania ($X), Bulgaria ($X) and Kazakhstan ($X) constituted the largest markets for chocolate exported from Ukraine worldwide, with a combined 28% share of total exports. Georgia, Moldova, Uzbekistan, Azerbaijan, Hungary, Poland, Lithuania, Yemen, Turkey and Latvia lagged somewhat behind, together accounting for a further 43%.

In terms of the main countries of destination, Poland, with a CAGR of +128.5%, 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

In 2022, the average chocolate export price amounted to $X per ton, surging by 6.3% against the previous year. Over the period under review, the export price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 9% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2012; afterwards, it flattened through to 2022.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kazakhstan ($X per ton), while the average price for exports to Latvia ($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 Uzbekistan (+6.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Ukraine

In 2022, after five years of growth, there was significant decline in supplies from abroad of chocolate and cocoa products, when their volume decreased by -35.4% to X tons. Overall, imports continue to indicate a mild descent. The most prominent rate of growth was recorded in 2018 when imports increased by 37% against the previous year. Imports peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, chocolate imports fell notably to $X in 2022. Over the period under review, imports continue to indicate a noticeable decrease. The pace of growth was the most pronounced in 2018 with an increase of 44% against the previous year. Over the period under review, imports attained the maximum at $X in 2021, and then shrank rapidly in the following year.

Imports by Country

In 2022, Poland (X tons) constituted the largest chocolate supplier to Ukraine, with a 38% share of total imports. Moreover, chocolate imports from Poland exceeded the figures recorded by the second-largest supplier, the Netherlands (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a 9% share.

From 2012 to 2022, the average annual growth rate of volume from Poland stood at +16.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the Netherlands (+6.2% per year) and Germany (+9.2% per year).

In value terms, Poland ($X) constituted the largest supplier of chocolate and cocoa products to Ukraine, comprising 34% of total imports. The second position in the ranking was held by Germany ($X), with a 13% share of total imports. It was followed by the Netherlands, with a 9.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Poland stood at +6.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+5.9% per year) and the Netherlands (+4.0% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, declining by -9.5% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 when the average import price increased by 13% against the previous year. The import price peaked at $X per ton in 2018; however, from 2019 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 Russia ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Russia (+9.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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