Chocolate Market Overview in Belgium
In value terms, chocolate production dropped to $ in 2019 estimated in export prices. Overall, the total production indicated a tangible expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2011 with an increase of % y-o-y. Chocolate production peaked at $ in 2018, and then dropped in the following year.
The size of the chocolate market in Belgium shrank rapidly to $ in 2019, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, saw prominent growth. The most prominent rate of growth was recorded in 2011 with an increase of % y-o-y. Chocolate consumption peaked at $ in 2018, and then shrank markedly in the following year.