Chocolate and cocoa products market in Finland

Earlier Report Observations

The Finnish chocolate market saw initial volatility from 2018 to 2020. In 2019, global supply chain disruptions and peak chocolate prices contributed to a contraction in import volumes, reducing the total market size in physical terms. The following year, the COVID-19 pandemic altered consumer behavior, with stockpiling and heightened demand for comfort foods driving a recovery in market volume.

Market growth resumed in 2021, supported by increased domestic production and sustained consumer interest in dark and organic chocolate varieties for health reasons. In 2022, while the volume of chocolate consumed continued to expand, a sharp drop in prices led to nearly flat market value; demand was also bolstered by the government's decision not to proceed with a proposed VAT increase on sweets after public criticism.

The market structure shifted notably in 2023 and 2024. The introduction of the EU Deforestation Regulation (EUDR) increased compliance costs and contributed to rising prices, explaining the growth in market value even as physical volume declined slightly. Concurrently, consumer preferences moved toward premium, artisanal, and sustainably sourced products, further elevating average prices. Major players like Fazer focused on sustainability and domestic sourcing, while a surge in import shipments indicated ongoing market activity.

Production chocolate and cocoa products in Finland

In value, 2017-2020, M $ US

After two consecutive years of growth, chocolate and cocoa products production in Finland experienced a decline. In 2020, the output was valued at 277.8 million US dollars, showing minimal change compared to 2019. Over the period from 2017 to 2020, production increased by 6.8%, with a compound annual growth rate of 2.2%. The highest value was recorded in 2019 at 279.1 million US dollars, while the largest annual increase occurred in 2018 at 7.0%.

Annual dynamics of production in Finland in value, 2017-2020, M $ US

In kind, 2017-2020, t

From 2017 to 2020, Finland ranked as the 14th largest producer of chocolate and cocoa products globally.

Top producers of chocolate and cocoa products, 2017-2020

World map of production of chocolate and cocoa products, 2017-2020

Following two years of growth, chocolate and cocoa products production in Finland declined. In 2020, Finland produced 33 817 tonnes of chocolate and cocoa products, down by 2.8% compared to the previous year. Between 2017 and 2020, production increased by 7%, equating to an annualized growth rate of 2.3%. The peak was reached in 2019 with 34 797 tonnes, which also saw the largest annual increase at 5.0%.

Annual dynamics of production in Finland in kind, 2017-2020, t

Exports chocolate and cocoa products from Finland

Exports in kind, t

The market performance showed noticeable fluctuations during this period. From 2019 to 2020, exports experienced a significant swing, with a 1.7-fold difference between the peak and trough. In 2020, Finland exported 13 690 tonnes of chocolate and cocoa products, marking a 73.2% increase year-over-year. The lowest volume was recorded in 2019 at 7 905 tonnes, which also saw the largest decline of 36.7%.

Annual dynamics of product's exports from Finland in kind, 2017-2020, t

From 2017 to 2020, Sweden, Estonia, and Russia formed the core group of markets for exports in kind. Sweden accounted for 53.9% of exports, Estonia for 8.0%, and Russia for 7.9%, together representing 69.8% of total flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Finland in kind, 2017-2020

Exports in value, M $ US

In 2020, Finland exported 74.0 million US dollars worth of chocolate and cocoa products, marking a substantial decrease of 11.7% year-over-year. Between 2017 and 2020, exports decreased by 4%, equating to an annualized decline of 1.3%. The lowest value was recorded in 2018 at 71.1 million US dollars, while the highest was in 2019 at 83.8 million US dollars, which also saw the largest increase of 17.9%.

Annual dynamics of product's exports from Finland in value, 2017-2020, M $ US

From 2017 to 2020, Sweden, Estonia, and Russia led the structure of exports in value terms. Sweden accounted for 45.6% of exports, Estonia for 10.7%, and Russia for 8.6%, together representing 64.9% of total flows.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Finland in value, 2017-2020

Imports chocolate and cocoa products to Finland

Imports in kind, t

After two years of decline, Finland's volume of chocolate and cocoa products imports increased. In 2020, import volume reached 26 095 tonnes, showing an uptick of 61.2% compared to the previous year. The lowest volume was recorded in 2019 at 16 186 tonnes, which also saw the largest decline of 31.0%.

Annual dynamics of product's imports to Finland in kind, 2017-2020, t

From 2017 to 2020, Sweden, Germany, and the Netherlands led the structure of imports in kind. Sweden accounted for 44.6% of imports, Germany for 19.0%, and the Netherlands for 6.7%, together representing 70.3% of total flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Finland in kind, 2017-2020

Imports in value, M $ US

In 2020, Finland's chocolate and cocoa products import volume registered 151.5 million US dollars, equivalent to a reduction of 1.8% compared to the previous year. Over the period from 2017 to 2020, imports decreased by 2.2%, with a compound annual growth rate of -0.7%. The lowest value was recorded in 2018 at 146.5 million US dollars, which also saw the largest decline of 5.4%. The largest increase occurred in 2019 at 5.3%.

Annual dynamics of product's imports to Finland in value, 2017-2020, M $ US

Throughout 2017 to 2020, Sweden, Germany, and Belgium remained the key directions for imports in value terms. Sweden accounted for 42.7% of imports, Germany for 19.4%, and Belgium for 6.6%, together taking 68.8% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Finland in value, 2017-2020