Not filled chocolate bars market in Greece

Earlier Report Observations

In 2018, the market for not filled chocolate bars in Greece reached 14 446 t in volume, supported by a strong base of family-owned manufacturers like ION and Pavlidis that focused on domestic production. The following year, market volume saw a modest decline to 13 819 t, while its value increased to USD 109.9 million, a shift partly attributed to the introduction of new filled chocolate varieties such as Lacta with strawberry, which catered to consumer taste preferences and likely lifted average prices. By 2020, the COVID-19 pandemic led to heightened demand for chocolate as consumption habits changed, resulting in a volume recovery to 13 951 t and a further rise in market value to USD 112.2 million.

The period from 2021 onward was marked by significant corporate movements and external pressures. In 2021, increased merger and acquisition activity, exemplified by Chipita's deal for a chocolate factory, alongside legislation facilitating food-sector investments, pointed to ongoing market development. The following year, international cocoa prices surged due to climate-related shortages, directly affecting the Greek market and prompting manufacturers to reduce package sizes and alter product compositions to control costs. Concurrently, product recalls over aflatoxin contamination and stricter food-safety oversight, as well as regulatory changes that allowed for altered labeling when cocoa content was reduced, introduced additional dynamics to the market.

In the more recent years of 2023 and 2024, available trade data indicates a tapering in import volumes from 5 360 t to 5 289 t, coupled with a decline in exports from 2 014 t to 1 936 t, suggesting a stabilization in the external trade flows for not filled chocolate bars.

Production not filled chocolate bars in Greece

In value, 2017-2020, K $ US

Production of not filled chocolate bars in Greece has increased for the third consecutive year. In 2020, output was valued at 98 695 thousand US dollars, marking a 4.0% rise compared to the previous year. Over the period from 2017 to 2020, production grew by 9.9%, with a compound annual growth rate of 3.2%.

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

In kind, 2017-2020, t

After a two-year decline, production of not filled chocolate bars in Greece increased in 2020. Output reached 10 330 tonnes, showing a modest year-over-year increase of 1.9%. However, between 2017 and 2020, overall production decreased by 9.2%, which translates to an annualized rate of decline of 3.2%. The lowest production level was recorded in 2019 at 10 139 tonnes, while the largest drop occurred in 2018 with a 6.4% decrease.

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

Exports not filled chocolate bars from Greece

Exports in kind, t

Exports of not filled chocolate bars from Greece have risen for the third year in a row. In 2020, Greece shipped 1 610 tonnes abroad, which is 1.0% higher than the previous year. From 2017 to 2020, exports increased by 22.1%, with a compound annual growth rate of 6.9%.

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

Between 2017 and 2020, Bulgaria, Cyprus, and Albania were the core destinations for Greece's exports of not filled chocolate bars in volume terms. Bulgaria accounted for 35.1% of exports, Cyprus for 20.9%, and Albania for 14.6%. Together, these three countries represented 70.6% 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

The value of not filled chocolate bars exported from Greece has grown for the third consecutive year. In 2020, exports amounted to 10 321 thousand US dollars, reflecting a 17.2% increase year-over-year. Over the period from 2017 to 2020, export value rose by 45.4%, with a compound annual growth rate of 13.3%.

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

From 2017 to 2020, Cyprus, Bulgaria, and Albania formed the core group of markets for Greece's exports of not filled chocolate bars in value terms. Cyprus held a 28.0% share, Bulgaria 26.2%, and Albania 13.8%. Combined, these three countries accounted for 67.9% of total export value.

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

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

Imports not filled chocolate bars to Greece

Imports in kind, t

In 2020, Greece imported 5 231 tonnes of not filled chocolate bars, representing a slight decrease of 0.8% compared to the previous year. Between 2017 and 2020, imports declined by 7.9%, equating to an annualized rate of decrease of 2.7%. The largest drop was recorded in 2018 at 7.3%, while the only increase occurred in 2019 with a 0.2% rise.

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

From 2017 to 2020, Germany, Spain, and Bulgaria were the main sources of not filled chocolate bar imports to Greece in volume terms. Germany accounted for 61.0% of imports, Spain for 14.1%, and Bulgaria for 8.0%. Together, these three countries made up 83.1% 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

The value of not filled chocolate bars imported into Greece has increased for the second consecutive year. In 2020, imports were recorded at 23 834 thousand US dollars, showing minimal change compared to 2019. Over the period from 2017 to 2020, import value grew by 4.5%, with an annualized rate of 1.5%. The lowest value was in 2018 at 22 768 thousand US dollars, which also saw the largest decline of 0.2%. The largest increase occurred in 2019 with a 4.4% rise.

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

Throughout 2017 to 2020, Germany, Spain, and Bulgaria remained the key sources for Greece's imports of not filled chocolate bars in value terms. Germany held a 58.1% share, Spain 12.8%, and Bulgaria 9.7%. Combined, these three countries represented 80.6% of total import value.

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

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