Unsweetened cocoa powder market in Greece

Earlier Report Observations

Between 2018 and 2020, the unsweetened cocoa powder market in Greece was influenced by a 16% increase in European production, which improved supply availability, and a growing consumer shift towards healthier options like unsweetened cocoa. The COVID-19 pandemic in 2020 further boosted demand as more home baking and pastry applications emerged, supporting import volumes despite broader economic disruptions.

The health and wellness trend continued into 2021-2022, driving the physical market volume to a peak of 6 027 t in 2022. Increased consumer awareness of sustainable and ethically sourced cocoa also shaped import patterns and demand during this period of growth.

By 2023, the market was impacted by rising cocoa powder prices due to global supply shortages and climatic issues in key producing countries like Ghana and Côte d'Ivoire, which contributed to a reduction in physical consumption to 5 450 t. In 2024, the impending EU Deforestation Regulation (EUDR) and heightened EU food safety requirements, including concerns over heavy metals like cadmium, added complexity for importers. Simultaneously, cocoa powder prices in Greece rose by 10-12% due to global cost pressures, leading to a significant 35% increase in the market's value to $27.7 million USD, even as the physical volume stabilized near 5 493 t.

Production unsweetened cocoa powder in Greece

According to Faostat, there is no production of unsweetened cocoa powder in Greece.

Exports unsweetened cocoa powder from Greece

Exports in kind, t

Greece's exports of unsweetened cocoa powder increased for the second consecutive year in 2020, reaching 438 tons. This represented a significant 30.7% increase compared to 2019. Over the period from 2017 to 2020, exports grew by 53.3%, with an average annual growth rate of 15.3%. The lowest export volume was recorded in 2018 at 252 tons, which also saw the largest decline of 11.9%. In contrast, 2019 experienced the largest increase of 33.2%.

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

From 2017 to 2020, Albania, Bulgaria, and Cyprus were the top buyers of unsweetened cocoa powder from Greece, accounting for 33.0%, 32.1%, and 18.7% of exports in kind, respectively. Together, these three countries represented 83.8% of Greece's total exports in kind during this period.

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 unsweetened cocoa powder exports from Greece rose for the second year in a row in 2020, totaling 1 321 thousand US dollars. This marked a sharp 29.7% increase compared to the previous year. Between 2017 and 2020, export values increased by 36.3%, equivalent to an annualized growth rate of 10.9%. The lowest value was recorded in 2018 at 835 thousand US dollars, which also saw the largest decline of 13.9%.

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

During 2017–2020, Albania, Bulgaria, and Cyprus consistently led as the top destinations for Greece's unsweetened cocoa powder exports in value terms, with shares of 31.5%, 30.6%, and 22.5%, respectively. Combined, these three markets accounted for 84.6% of total export flows in 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 unsweetened cocoa powder to Greece

Imports in kind, t

Greece imported 5 310 tons of unsweetened cocoa powder in 2020, a decrease of 7.6% from the previous year. Over the 2017–2020 period, imports increased by 3.8%, with an average annual growth rate of 1.2%. The lowest import volume was in 2018 at 4 855 tons, while the highest was in 2019 at 5 747 tons. The largest increase occurred in 2019, with an 18.4% rise.

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

From 2017 to 2020, the Netherlands, Germany, and Spain were the leading sources of unsweetened cocoa powder imports to Greece in kind, with shares of 58.6%, 16.0%, and 10.9%, respectively. Together, these three countries made up 85.5% of total import flows in kind.

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 unsweetened cocoa powder imports to Greece increased for the second consecutive year in 2020, reaching 13 676 thousand US dollars. This reflected a modest 3.4% rise compared to the previous year. The lowest value was recorded in 2018 at 12 315 thousand US dollars, which also saw the largest decline of 10.6%. In 2019, imports saw the largest increase of 7.4%.

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

Throughout 2017–2020, the Netherlands, Germany, and Spain remained the key markets for Greece's unsweetened cocoa powder imports in value terms, collectively accounting for 82.5% of total import flows.

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

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