Cocoa powder and cake market in Greece

Earlier Report Observations

The Greek cocoa powder and cake market showed mixed trends between 2018 and 2023, with physical consumption fluctuating within a narrow band while market value expanded substantially. Volume peaked at 8 465 tons in 2019 before dipping to 7 963 tons in 2020, then partially recovering to 8 345 tons in 2021.

Market value demonstrated stronger momentum, jumping from 22 777 thousand US dollars in 2018 to 27 138 thousand US dollars in 2021, a rise of 24.8%. This surge coincided with a volume increase, but the value growth significantly outpaced physical consumption, pointing to higher average prices.

In the later years, volume eased to 8 053 tons in 2023, nearly matching the 2018 level, while value reached 27 973 thousand US dollars, representing a 22.8% gain over the six-year period. The market thus maintained stable volume demand but shifted toward higher monetary turnover.

Production cocoa powder and cake in Greece

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

In Greece, cocoa powder and cake production reached 3 058 tonnes in 2020, marking a slight increase of 0.9% from 2019. The lowest production level was recorded in 2019 at 3 032 tonnes, while the peak occurred in 2018 with 3 361 tonnes. The most significant decline was observed in 2019, dropping by 9.8%, whereas the largest increase took place in 2018, rising by 10.6%.

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

In value, 2017-2020, K $ US

In 2020, the output value of cocoa powder and cake in Greece was 9 246 thousand US dollars, showing little change compared to 2019. From 2017 to 2020, production value decreased by 10.5%, which translates to an annualized rate of 3.6%. The lowest value was recorded in 2019 at 9 237 thousand US dollars, while the highest was in 2018 at 11 175 thousand US dollars. The most substantial decline occurred in 2019, falling by 17.3%, and the largest increase was in 2018, growing by 8.1%.

Annual dynamics of production in Greece in value, 2017-2020, K $ US

Exports cocoa powder and cake from Greece

Exports in kind, t

Cocoa powder and cake exports from Greece have increased for the second year in a row. In 2020, exports amounted to 441 tonnes, up by 30.6% from the previous year. Between 2017 and 2020, exports grew by 53.3%, equivalent to an annualized rate of 15.3%. The lowest export volume was in 2018 at 253 tonnes, with the most significant decline that year at 12.0%. The largest increase was recorded in 2019, rising by 33.4%.

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

From 2017 to 2020, Albania, Bulgaria, and Cyprus were the primary markets for Greece's cocoa powder and cake exports in kind. Albania accounted for 32.9% of exports, Bulgaria for 32.1%, and Cyprus for 18.9%, together representing 83.9% of total export flows.

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

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

Exports in value, K $ US

Cocoa powder and cake shipments from Greece have risen for the second consecutive year. In 2020, exports were valued at 1 332 thousand US dollars, a 29.6% increase from 2019. Over the period 2017-2020, exports grew by 36.4%, with a compound annual growth rate of 10.9%. The lowest value was in 2018 at 841 thousand US dollars, with the most significant decline that year at 13.9%.

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

Between 2017 and 2020, Albania, Bulgaria, and Cyprus remained the top buyers of cocoa powder and cake from Greece in value terms. Albania contributed 31.3% of export value, Bulgaria 30.6%, and Cyprus 22.8%, collectively accounting for 84.7% of total exports.

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

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

Imports cocoa powder and cake to Greece

Imports in kind, t

In 2020, Greece imported 5 346 tonnes of cocoa powder and cake, reflecting a modest decline of 7.4% from 2019. From 2017 to 2020, imports increased by 4.2%, equating to an annualized rate of 1.4%. The lowest import volume was in 2018 at 4 881 tonnes, while the highest was in 2019 at 5 771 tonnes. The largest increase occurred in 2019, rising by 18.2%.

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

Throughout 2017-2020, the Netherlands, Germany, and Spain formed the core group of sources for Greece's cocoa powder and cake imports in kind. The Netherlands supplied 58.3% of imports, Germany 15.9%, and Spain 10.9%, together making up 85.1% of total import flows.

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

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

Imports in value, K $ US

Cocoa powder and cake shipments to Greece have increased for the second year in a row. In 2020, imports stood at 13 822 thousand US dollars, up by 3.7% from 2019. The lowest value was recorded in 2018 at 12 444 thousand US dollars, with the most significant decline that year at 10.3%. The largest increase was in 2019, growing by 7.1%.

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

From 2017 to 2020, the Netherlands, Germany, and Spain consistently remained the main sources for Greece's cocoa powder and cake imports in value terms. The Netherlands accounted for 59.3% of import value, Germany for 14.1%, and Spain for 8.4%, together representing 81.8% of total flows.

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

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