Chile: Chocolate Market 2024

Chocolate Market Size in Chile

In 2022, the Chilean chocolate market decreased by X% to $X for the first time since 2015, thus ending a six-year rising trend. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Chocolate consumption peaked at $X in 2021, and then declined in the following year.

Chocolate Production in Chile

In value terms, chocolate production rose modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Chile

In 2022, exports of chocolate and cocoa products from Chile skyrocketed to X tons, picking up by X% against 2021. In general, exports, however, continue to indicate a pronounced contraction. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports surged to $X in 2022. Over the period under review, exports, however, showed a pronounced reduction. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Peru (X tons), Ecuador (X tons) and Bolivia (X tons) were the main destinations of chocolate exports from Chile, together accounting for X% of total exports. Thailand, Paraguay, Colombia, El Salvador, Argentina, Costa Rica, Uruguay, Venezuela, Panama and Mexico lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Ecuador ($X) and Bolivia ($X) were the largest markets for chocolate exported from Chile worldwide, with a combined X% share of total exports. Paraguay, Thailand, El Salvador, Costa Rica, Argentina, Colombia, Uruguay, Venezuela, Panama and Mexico lagged somewhat behind, together comprising a further X%.

Among the main countries of destination, Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Bolivia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Chile

In 2022, supplies from abroad of chocolate and cocoa products decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. Over the period under review, imports, however, saw strong growth. The growth pace was the most rapid in 2018 when imports increased by X%. Imports peaked at X tons in 2021, and then dropped in the following year.

In value terms, chocolate imports shrank to $X in 2022. Overall, imports, however, recorded prominent growth. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

Brazil (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of chocolate imports to Chile, with a combined X% share of total imports. Germany, Belgium, Argentina, Colombia, Turkey, Spain, Peru, Sweden, Switzerland and the UK lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate suppliers to Chile were Brazil ($X), the United States ($X) and Italy ($X), together accounting for X% of total imports. Germany, Belgium, Argentina, Spain, Colombia, Turkey, Switzerland, the UK, Peru and Sweden lagged somewhat behind, together comprising a further X%.

Among the main suppliers, Sweden, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Brazil ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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