Cocoa powder and cake market in Hungary

Earlier Report Observations

The Hungarian cocoa powder and cake market experienced a gradual contraction in volume from 2018 to 2023, declining from 8 988 t to 7 944 t. This overall reduction of over 1 000 t was characterized by a period of relative stability followed by a sharper drop in the final year of the data series.

This decline in total market size was primarily driven by a steady fall in imports, which decreased every year from 8 961 t in 2018 to 8 057 t in 2023. The shrinking import volume was partially offset by a significant expansion in domestic production, which more than doubled from 363 t in 2018 to a peak of 732 t in 2022 before moderating in 2023. Concurrently, export volumes showed growth, particularly a notable increase to 710 t in 2023, which further reduced net domestic availability.

The market structure shifted notably over the period, with domestic production claiming a larger share of a shrinking total volume. The combined effect of lower imports and higher exports points to a changing supply dynamic for the Hungarian market.

Production cocoa powder and cake in Hungary

In kind, 2018-2021, t

Top producers of cocoa powder and cake, 2018-2021

World map of production of cocoa powder and cake, 2018-2021

Hungary's cocoa powder and cake production has grown for the third year in a row. In 2021, the country produced 584.0 tonnes, marking a significant 27.1% increase from the previous year. Looking at the period from 2018 to 2021, production rose by 61.1%, which translates to an average annual growth rate of 17.2%.

Annual dynamics of production in Hungary in kind, 2018-2021, t

In value, 2018-2021, K $ US

Hungary's cocoa powder and cake production has expanded in value for the third consecutive year. In 2021, the output was valued at 2 620 thousand US dollars, showing a 21.1% rise compared to the year before. From 2018 to 2021, production value increased by 91.1%, with an average annual growth rate of 24.1%.

Annual dynamics of production in Hungary in value, 2018-2021, K $ US

Exports cocoa powder and cake from Hungary

Exports in kind, t

Hungary's cocoa powder and cake exports have increased for the second year running. In 2021, exports reached 534 tonnes, representing a sharp 50.9% jump from the previous year. Between 2018 and 2021, exports grew by 59.3%, averaging 16.8% per year. The lowest volume was recorded in 2019 at 314 tonnes, which also saw the largest decline of 6.4%.

Annual dynamics of product's exports from Hungary in kind, 2018-2021, t

From 2018 to 2021, the main destinations for Hungary's cocoa powder and cake exports in volume terms were the United Kingdom (40.9% of exports), the Netherlands (10.7%), and Slovakia (8.9%). Together, these three countries accounted for 60.4% of total exports.

Structure of product's exports in kind by countries, 2018-2021

World map of product's exports from Hungary in kind, 2018-2021

Exports in value, K $ US

Hungary's cocoa powder and cake exports have risen in value for the second consecutive year. In 2021, exports were valued at 2 394 thousand US dollars, up 43.8% from the previous year. Over the 2018-2021 period, export value increased by 89%, with an average annual growth rate of 23.6%. The lowest value was recorded in 2019 at 1 264 thousand US dollars, which also experienced the largest decline of 0.2%.

Annual dynamics of product's exports from Hungary in value, 2018-2021, K $ US

From 2018 to 2021, the United Kingdom (51.6% of export value), Slovakia (8.8%), and the Netherlands (8.1%) were the top buyers of Hungarian cocoa powder and cake in monetary terms. Combined, they made up 68.5% of total export value.

Structure of product's exports in value by countries, 2018-2021

World map of product's exports from Hungary in value, 2018-2021

Imports cocoa powder and cake to Hungary

Imports in kind, t

In 2021, Hungary imported 8 578 tonnes of cocoa powder and cake, reflecting a slight decline of 1.3% from the previous year. Between 2018 and 2021, imports decreased by 4.3%, averaging a 1.4% annual drop. The largest decline occurred in 2019 at 3.7%, while the largest increase was in 2020 at 0.8%.

Annual dynamics of product's imports to Hungary in kind, 2018-2021, t

During 2018-2021, the Netherlands (50.7% of import volume), Germany (22.2%), and Spain (10.5%) were the leading sources of cocoa powder and cake imports into Hungary. Together, they accounted for 83.4% of total import volume.

Structure of product's imports in kind by countries, 2018-2021

World map of product's imports to Hungary in kind, 2018-2021

Imports in value, K $ US

After two years of growth, Hungary's cocoa powder and cake imports declined in 2021, amounting to 25 203 thousand US dollars, a modest 2.0% decrease from the previous year. Over the 2018-2021 period, import value increased by 16.6%, with an average annual growth rate of 5.2%. The highest value was recorded in 2020 at 25 705 thousand US dollars, which also saw the largest increase of 12.1%.

Annual dynamics of product's imports to Hungary in value, 2018-2021, K $ US

From 2018 to 2021, the Netherlands (50.9% of import value), Germany (22.1%), and Spain (9.1%) contributed the most to Hungary's cocoa powder and cake imports in monetary terms. Jointly, they represented 82.1% of total import value.

Structure of product's imports in value by countries, 2018-2021

World map of product's imports to Hungary in value, 2018-2021