Croatia: Market for Cocoa Powder (Containing Added Sugar) 2024

Market Size for Cocoa Powder (Containing Added Sugar) in Croatia

The Croatian cocoa powder with sugar market dropped to $X in 2023, which is down by X% against the previous year. Over the period under review, consumption, however, recorded perceptible growth. Over the period under review, the market reached the maximum level at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.

Production of Cocoa Powder (Containing Added Sugar) in Croatia

In value terms, cocoa powder with sugar production declined to $X in 2023 estimated in export price. Over the period under review, production, however, continues to indicate notable growth. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2023, production growth remained at a lower figure.

Exports of Cocoa Powder (Containing Added Sugar)

Exports from Croatia

For the fourth consecutive year, Croatia recorded decline in shipments abroad of cocoa powder (containing added sugar), which decreased by X% to X tons in 2023. In general, exports recorded a dramatic slump. The most prominent rate of growth was recorded in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, cocoa powder with sugar exports dropped rapidly to $X in 2023. Overall, exports faced a deep setback. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Bosnia and Herzegovina (X tons) was the main destination for cocoa powder with sugar exports from Croatia, accounting for a X% share of total exports. Moreover, cocoa powder with sugar exports to Bosnia and Herzegovina exceeded the volume sent to the second major destination, Slovenia (X tons), threefold. The third position in this ranking was taken by Montenegro (X tons), with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of volume to Bosnia and Herzegovina totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (X% per year) and Montenegro (X% per year).

In value terms, Bosnia and Herzegovina ($X) remains the key foreign market for cocoa powder (containing added sugar) exports from Croatia, comprising X% of total exports. The second position in the ranking was taken by Slovenia ($X), with a X% share of total exports. It was followed by Montenegro, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Bosnia and Herzegovina totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Slovenia (X% per year) and Montenegro (X% per year).

Export Prices by Country

In 2023, the average cocoa powder with sugar export price amounted to $X per ton, surging by X% against the previous year. In general, export price indicated a notable increase from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, cocoa powder with sugar export price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by X% against the previous year. Over the period under review, the average export prices hit record highs in 2023 and is likely to continue growth in years to come.

Average prices varied somewhat for the major export markets. In 2023, amid the top suppliers, the countries with the highest prices were Serbia ($X per ton) and Montenegro ($X per ton), while the average price for exports to the United States ($X per ton) and Bosnia and Herzegovina ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Serbia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cocoa Powder (Containing Added Sugar)

Imports into Croatia

In 2023, supplies from abroad of cocoa powder (containing added sugar) decreased by X% to X tons, falling for the fourth consecutive year after four years of growth. Over the period under review, imports, however, posted a moderate increase. The most prominent rate of growth was recorded in 2019 when imports increased by X%. As a result, imports reached the peak of X tons. From 2020 to 2023, the growth of imports remained at a lower figure.

In value terms, cocoa powder with sugar imports reached $X in 2023. In general, total imports indicated a moderate expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2019; however, from 2020 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Germany (X tons) constituted the largest cocoa powder with sugar supplier to Croatia, accounting for a X% share of total imports. Moreover, cocoa powder with sugar imports from Germany exceeded the figures recorded by the second-largest supplier, Austria (X tons), sevenfold. The Czech Republic (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and the Czech Republic (X% per year).

In value terms, Germany ($X) constituted the largest supplier of cocoa powder (containing added sugar) to Croatia, comprising X% of total imports. The second position in the ranking was taken by Austria ($X), with an X% share of total imports. It was followed by Hungary, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Germany was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (X% per year) and Hungary (X% per year).

Import Prices by Country

The average cocoa powder with sugar import price stood at $X per ton in 2023, rising by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 an increase of X% against the previous year. Over the period under review, average import prices hit record highs in 2023 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Hungary ($X per ton), while the price for Slovenia ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Hungary (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform