Chocolate Market in the United Kingdom
Market Overview
The UK chocolate market expanded markedly to $
in , increasing by % 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). In general, consumption, however, continues to indicate a slight slump. Chocolate consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.
In value terms, chocolate production stood at $ in estimated in export price. In general, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to , production remained at a lower figure.
in , increasing by % 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). In general, consumption, however, continues to indicate a slight slump. Chocolate consumption peaked at $ in 2007; however, from 2008 to , consumption failed to regain momentum.In value terms, chocolate production stood at $
in estimated in export price. In general, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2018 when the production volume increased by % against the previous year. Over the period under review, production hit record highs at $ in 2007; however, from 2008 to , production remained at a lower figure.Consumption
In , after two years of growth, there was decline in consumption of chocolate and cocoa products, when its volume decreased by -% to tons. Overall, consumption saw a mild downturn. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.
The revenue of the chocolate market in the UK reduced to $ in , dropping by -% 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). In general, consumption saw a slight contraction. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption remained at a lower figure.
, after two years of growth, there was decline in consumption of chocolate and cocoa products, when its volume decreased by -% to tons. Overall, consumption saw a mild downturn. Over the period under review, consumption hit record highs at tons in 2007; however, from 2008 to , consumption stood at a somewhat lower figure.The revenue of the chocolate market in the UK reduced to $
in , dropping by -% 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). In general, consumption saw a slight contraction. Over the period under review, the market hit record highs at $ in 2007; however, from 2008 to , consumption remained at a lower figure.Market Forecast
Depressed by shrinking demand for chocolate in the UK, the market is expected to continue its downward consumption trend over the next eight years. The performance of the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to depress the market volume to tons by the end of .
In value terms, the market is forecast to contract with an anticipated CAGR of -% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .
% for the period from to , which is projected to depress the market volume to tons by the end of .In value terms, the market is forecast to contract with an anticipated CAGR of -
% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .Trade Balance
The UK remains a net importer of chocolate; in physical and value terms, imports consistently exceeded exports from 2007 to . In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
. In , there was a significant trade deficit of tons, which was equal to $. This tangible trade deficit reflects the fact that the market remains dependent on imports, which is likely to continue in the medium term.
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