Portugal: Chocolate Market 2024

Chocolate Market Size in Portugal

In 2022, the Portuguese chocolate market increased by X% to $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Chocolate Production in Portugal

In value terms, chocolate production soared to $X in 2022 estimated in export price. In general, production posted a measured expansion. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Chocolate Exports

Exports from Portugal

In 2022, approx. X tons of chocolate and cocoa products were exported from Portugal; picking up by X% on the year before. In general, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, chocolate exports amounted to $X in 2022. Overall, exports posted prominent growth. The pace of growth was the most pronounced in 2021 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Spain (X tons) was the main destination for chocolate exports from Portugal, accounting for a X% share of total exports. Moreover, chocolate exports to Spain exceeded the volume sent to the second major destination, Brazil (X tons), ninefold. The third position in this ranking was taken by Angola (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Spain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and Angola (X% per year).

In value terms, Spain ($X) remains the key foreign market for chocolate and cocoa products exports from Portugal, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Spain stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Brazil (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, approximately equating the previous year. In general, the export price, however, saw a slight decline. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Greece ($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 the United Arab Emirates (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Portugal

In 2022, overseas purchases of chocolate and cocoa products were finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate imports rose significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

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

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

In value terms, the largest chocolate suppliers to Portugal were Spain ($X), Germany ($X) and Italy ($X), together comprising X% of total imports. Belgium, France, the Netherlands and Austria lagged somewhat behind, together accounting for a further X%.

Austria, with a CAGR of X%, 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 chocolate import price amounted to $X per ton, flattening at the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the average import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Germany (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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