Cocoa powder and cake market in Finland

Earlier Report Observations

Between 2018 and 2020, the Finnish cocoa powder and cake market expanded from 2 638 t to 3 019 t. This growth was supported by regulatory developments, including EU labeling rules for cocoa solids content and Finnish Food Authority's product nomenclature, which shaped market entry. More directly, K-group's 2019 commitment to source 100% sustainable cocoa for its private-label products by end-2020, and its achievement of that target, strengthened consumer demand for certified cocoa and drove market volume upward.

The market volume dropped to 2 212 t in 2021 as heightened consumer price sensitivity, identified in industry reviews, led to greater emphasis on discount offerings and private-label goods. Despite a tripling of world cocoa prices in 2022, which increased raw material costs for manufacturers, the market recovered to 2 650 t that year, partly because price-conscious consumers shifted toward more affordable private-label products. However, the sustained high cocoa prices into 2023 contributed to a subsequent decline in volume to 2 479 t, as consumers adapted through promotion-led purchases and smaller package sizes.

Entering 2024, persistently high global cocoa prices continued to pressure manufacturers' cost structures. Concurrently, the focus on sustainability and well-being, reinforced by K-group's trend reporting, maintained the shelf share of sustainably produced cocoa. Updated Finnish Food Authority controls on sugar levels in sweetened cocoa powders also prompted the launch of sugar-free and low-sugar variants, reflecting ongoing product diversification.

Production cocoa powder and cake in Finland

In kind, 2017-2020, t

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

Finland's cocoa powder and cake production rebounded after a two-year decline. In 2020, production reached 2 199 tonnes, marking a 9.2% increase from the previous year. Over the period from 2017 to 2020, production grew by 5.5%, which translates to an average annual growth rate of 1.8%. The lowest production volume was recorded in 2019 at 2 014 tonnes, with the largest decline of 3.0% occurring that same year.

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

Exports cocoa powder and cake from Finland

Exports in kind, t

Market performance showed significant fluctuations during this period. Exports peaked in 2018 at 23.9 tonnes and dropped to their lowest point in 2019 at 1.2 tonnes, representing a 19-fold difference between these years. In 2020, Finland's cocoa powder and cake exports amounted to 17.5 tonnes, reflecting a dramatic year-over-year increase of 1 322.7%. The largest decline of 94.8% was recorded in 2019.

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

From 2017 to 2020, Estonia and Russia accounted for the majority of Finland's cocoa powder and cake exports by volume, while other markets played a less significant role.

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, K $ US

After two years of growth, Finland's cocoa powder and cake exports by value declined. In 2020, exports totaled 93 thousand US dollars, down 25.5% from the previous year. Over the 2017-2020 period, exports increased by 23.7%, with a compound annual growth rate of 7.4%. The highest value was recorded in 2019 at 125 thousand US dollars, while the largest increase of 31.5% occurred in 2018.

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

Throughout 2017-2020, Estonia, Russia, and Latvia remained the key export destinations by value. Estonia accounted for 54.2% of exports, Russia for 23.7%, and Latvia for 9.0%, together representing 86.9% of total export value.

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

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

Imports cocoa powder and cake to Finland

Imports in kind, t

Finland's cocoa powder and cake imports by volume increased for the second consecutive year. In 2020, imports totaled 837.7 tonnes, showing an 11.7% year-over-year increase. Between 2017 and 2020, imports grew by 24.6%, equivalent to an average annual growth rate of 7.6%. The lowest import volume was recorded in 2018 at 585.1 tonnes, with the largest decline of 13.0% occurring that year. The largest increase of 28.2% was recorded in 2019.

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

From 2017 to 2020, three main markets—the Netherlands, Germany, and Norway—together accounted for 75.4% of Finland's total cocoa powder and cake imports by volume.

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, K $ US

Finland's cocoa powder and cake imports by value increased for the second consecutive year. In 2020, imports reached 2 462 thousand US dollars, showing a solid 24.6% increase compared to 2019. Between 2017 and 2020, imports grew by 10.2%, which translates to an average annual growth rate of 3.3%. The lowest value was recorded in 2018 at 2 462 thousand US dollars, with the largest decline of 15.1% occurring that year.

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

From 2017 to 2020, the Netherlands, Norway, and Sweden formed the main group of import sources by value for Finland's cocoa powder and cake. The Netherlands accounted for 32.1% of imports, Norway for 20.7%, and Sweden for 16.7%, together representing 69.5% of total import value.

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

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