Dominican Republic: Chocolate Market 2024

Chocolate Market Size in the Dominican Republic

The Dominican chocolate market shrank modestly to $X in 2022, waning by X% against the previous year. Overall, the total consumption indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. Chocolate consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in the Dominican Republic

In value terms, chocolate production contracted slightly to $X in 2022 estimated in export price. In general, the total production indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Chocolate production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Join Us at HANNOVER MESSE 2024

Don’t miss your chance to connect with us directly. Schedule a personal meeting to dive deeper into how solutions.
Hall 002, Stand C10. 22 - 26 April 2024 | Hannover, Germany

Book Your Meeting

Chocolate Exports

Exports from the Dominican Republic

In 2022, exports of chocolate and cocoa products from the Dominican Republic soared to X tons, picking up by X% against 2021. Overall, exports enjoyed a remarkable increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, chocolate exports surged to $X in 2022. Over the period under review, exports showed a remarkable increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Trinidad and Tobago (X tons), the United States (X tons) and Haiti (X tons) were the main destinations of chocolate exports from the Dominican Republic, together accounting for X% of total exports. Bahamas, Barbados and Guyana lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahamas (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) remains the key foreign market for chocolate and cocoa products exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with a X% share of total exports. It was followed by Bahamas, with an X% share.

From 2012 to 2022, the average annual growth rate of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (X% per year) and Bahamas (X% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, reducing by X% against the previous year. Over the period under review, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the average export price increased by X%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2021, and then dropped notably in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahamas ($X per ton), while the average price for exports to Trinidad and Tobago ($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 Guyana (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into the Dominican Republic

In 2022, the amount of chocolate and cocoa products imported into the Dominican Republic reduced to X tons, falling by X% compared with the previous year's figure. Overall, imports, however, posted a resilient expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, chocolate imports expanded rapidly to $X in 2022. Over the period under review, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of chocolate to the Dominican Republic, with a X% share of total imports. Moreover, chocolate imports from the United States exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. The third position in this ranking was taken by Guatemala (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Guatemala (X% per year).

In value terms, the United States ($X) constituted the largest supplier of chocolate and cocoa products to the Dominican Republic, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Guatemala, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Guatemala (X% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2016 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :