Analysis and Studies - Products analysis
World Chocolate Day: an insight of the Market in the EU
July 7th 2023
World Chocolate Day, also known as International Chocolate Day or Chocolate Day, is an annual global observance dedicated to the celebration of chocolate. It holds significant recognition worldwide on July 7th, with some considering it as the commemoration of chocolate's introduction to Europe in 1550.
The cultivation, consumption, and cultural importance of cacao were deeply rooted in Mesoamerica, the region where the cacao tree is indigenous. Before the 16th century, Europeans were unaware of the existence of the cacao tree. It was during Christopher Columbus's fourth voyage to the Americas that he first encountered the precious cacao bean, which he subsequently brought back to the Spanish court.
In the realm of international trade, chocolate holds a noteworthy position. In 2021, it ranked as the 141st most traded product globally, with a substantial trade value of $32.7 billion. Notably, there was a notable 14.2% increase in chocolate exports from 2020 to 2021, witnessing a rise from $28.7 billion to $32.7 billion. It is worth mentioning that the trade in chocolate accounts for a minute fraction, approximately 0.0016%, of the total world trade. Germany stood as the leading exporter of chocolate in 2021, while the United States emerged as the primary importer.
Within the European Union (EU), the export figures for chocolate and chocolate bars in 2019 were remarkable. EU Member States collectively exported a substantial 2.2 million tonnes of chocolate and chocolate bars, with 66% of these exports directed towards other EU Member States. Germany held the prominent position of the leading exporter, accounting for 640,000 tonnes or 30% of the total export volume. Belgium followed closely with 300,000 tonnes (14%), trailed by the Netherlands with 290,000 tonnes (13%), Poland with 230,000 tonnes (10%), and Italy with 180,000 tonnes (8%). These top five EU Member States combined accounted for a significant three-quarters of the overall EU chocolate and chocolate bar exports, showcasing the European Union's dominance in the global chocolate export market.
Conversely, EU Member States imported 220,000 tonnes of chocolate and chocolate bars from non-EU countries. Noteworthy contributors to these imports were the United Kingdom with 100,000 tonnes and Switzerland with 70,000 tonnes.
These statistics underline the substantial economic and trade impact of chocolate, further highlighting the European Union's pivotal position as a key player in both the export and import of this delectable commodity.