PRODUCT CLASSIFICATION
Chocolate is one of the most popular and cherished treats around the world. Made from cacao beans, it comes in different forms such as dark, milk and white, and it’s used worldwide not just for individual enjoyment, but also for cultural and emotional meaning because it’s often associated with celebrations, holidays and a way to express affection. Additionally, dark chocolate in particular is known for its health benefits like antioxidant properties and mood-enhancing effects.
Chocolate is a part of Cocoa & Cocoa preparations, a category that includes a wide range of products, for example Miscellaneous Chocolate/Cocoa Preparations Chocolate Products (Contains Cocoa, >2kg), Unfilled Chocolate Blocks/Bars (Contains Cocoa, >2kg), Filled Chocolate Blocks/Bars (Contains Cocoa, >2kg), and Sweetened Cocoa Powder.
It also has a Product Complexity Index of 0.35, ranking 431 out of 1044 products in 2023.
This post will not consider Chocolate trade in general, but it will be focused on the Swiss market, the ninth largest exporter of this product in the world.
EXPORT
In 2023, Switzerland exported an amount of $1.15B worth of Chocolate, becoming the 9th largest exporter of this category out of 202 countries in the world, with an estimated percentage of 3.11 of share in global exports; during the same year, Chocolate was the 38th most exported product in Germany out of 1211.
The main destinations of the country’s exports were
- Germany - $244M;
- United States - $101M;
- United Kingdom - $99.6M;
- France - $90.5M;
- Canada - $74.4M.
IMPORT
In 2023 it was estimated that Switzerland imported around $331M of Chocolate, becoming the 26th largest importer of the product in the world out of 225 countries, with a 0.9% of share in global imports; during the same year, Chocolate was the 128th most imported product in the country out of 1212.
It was imported primarily from
- Germany - $163M;
- Italy - $36.9M;
- France - $30.8M;
- Netherlands - $23.2M;
- Belgium - $22M.
GROWTH POTENTIAL
According to the source, the destinations with the highest export growth potential for Chocolate from Switzerland are Germany, with an estimated +$56.4M, followed by France, with +$51.8M, and United States, around +$27.8M.
On the other hand, between 2022 and 2023, the fastest growing markets for the category’s imports and exports in Switzerland were the following:
MARKETS FOR CHOCOLATE EXPORTS
- United Arab Emirates - $30.5M;
- United Kingdom - $20.7M;
- Belgium - $17.2M.
MARKETS FOR CHOCOLATE IMPORTS
- Germany - $22.7M;
- Italy - $7.94M;
- Sweden - $2.03M.
CONCLUSIONS
Switzerland’s deep-rooted tradition and expertise in chocolate making is so known that has become the ninth leader and largest exporter of the product in the world, proving that quality and craftmanship can have a global impact.
Source: https://oec.world/en
