Ukraine: Chocolate Market 2024

Chocolate Market Size in Ukraine

In 2022, the Ukrainian chocolate market decreased by -2.1% to $X, falling for the second year in a row after two years of growth. The market value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Chocolate consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Chocolate Production in Ukraine

In value terms, chocolate production declined modestly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the production volume increased by 16% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Ukraine

In 2022, approx. X tons of chocolate and other food preparations containing cocoa were exported from Ukraine; waning by -37.3% compared with 2021. In general, exports saw a deep setback. The most prominent rate of growth was recorded in 2021 when exports increased by 29% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports dropped sharply to $X in 2022. Overall, exports continue to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of 71% against the previous year. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Moldova (X tons) was the main destination for chocolate exports from Ukraine, accounting for a 39% share of total exports. Moreover, chocolate exports to Moldova exceeded the volume sent to the second major destination, Georgia (X tons), twofold. Latvia (X tons) ranked third in terms of total exports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Moldova was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (-1.0% per year) and Latvia (+175.9% per year).

In value terms, Moldova ($X) remains the key foreign market for chocolate and other food preparations containing cocoa exports from Ukraine, comprising 38% of total exports. The second position in the ranking was taken by Georgia ($X), with a 16% share of total exports. It was followed by Latvia, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Moldova amounted to -1.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Georgia (+1.0% per year) and Latvia (+177.9% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, growing by 13% against the previous year. Overall, export price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.1% 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 +57.0% against 2019 indices. The most prominent rate of growth was recorded in 2021 an increase of 32% against the previous year. The export price peaked in 2022 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 Latvia ($X per ton), while the average price for exports to Belarus ($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 Romania (+8.2%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Ukraine

In 2022, after six years of growth, there was significant decline in supplies from abroad of chocolate and other food preparations containing cocoa, when their volume decreased by -57.6% to X tons. Overall, imports, however, enjoyed moderate growth. The growth pace was the most rapid in 2020 with an increase of 51% against the previous year. Over the period under review, imports hit record highs at X tons in 2021, and then shrank markedly in the following year.

In value terms, chocolate imports reduced markedly to $X in 2022. Over the period under review, imports, however, posted tangible growth. The most prominent rate of growth was recorded in 2020 when imports increased by 60% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced sharply in the following year.

Imports by Country

In 2022, Belgium (X tons) constituted the largest chocolate supplier to Ukraine, with a 47% share of total imports. Moreover, chocolate imports from Belgium exceeded the figures recorded by the second-largest supplier, Italy (X tons), threefold. The third position in this ranking was held by Poland (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Belgium stood at +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+0.1% per year) and Poland (+32.3% per year).

In value terms, Belgium ($X) constituted the largest supplier of chocolate and other food preparations containing cocoa to Ukraine, comprising 50% of total imports. The second position in the ranking was held by Italy ($X), with a 15% share of total imports. It was followed by Poland, with a 12% share.

From 2012 to 2022, the average annual growth rate of value from Belgium totaled +4.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+1.4% per year) and Poland (+33.1% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, rising by 8.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Germany (+5.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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