Bitter outlook for Swiss chocolate
Keystone-SDA
Sales of Swiss chocolate flatlined last year, with the industry describing export levels as “alarming”. This comes amid rising cocoa prices and increasing regulatory pressure, which are clouding the outlook.
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“The modest growth in the domestic market (+1.7%) was offset by stagnant exports (+0.2%),” the Chocosuisse umbrella organisation noted in a press release on Tuesday. With exports making up 72.1% of total sales, this “rings alarm bells for the industry”.
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In the end, the volume of Swiss chocolate sold increased marginally, rising by just 0.6% compared to 2023, reaching 209,096 tonnes.
The price of cocoa quadrupled last year, peaking at $10,888 (CHF9,136) a tonne at the end of 2024 after a long period of hovering around $2,000 and $3,000. This forced chocolate manufacturers to pass on the costs to consumers. As a result, revenues surged by 13.3%, reaching CHF2.2 billion.
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These price hikes are expected to persist this year. “The high cocoa price will only be fully reflected in sales prices this year, as many chocolate manufacturers still had cheaper cocoa in stock in 2024,” the report states.
Meanwhile, per capita chocolate consumption in Switzerland has dropped (-2.4% to 10.6 kilos), Chocosuisse warns. It remains to be seen how consumers will respond to the new price hikes.
The industry also highlights the upcoming regulatory changes. From the end of the year, the European Supply Chain Regulation (EUDR) will become mandatory, introducing stricter traceability requirements. The impact on companies remains uncertain.
Translated from French with DeepL/sp
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