Ecuador: Market for Chocolate Bars With Fillings 2022

Market Size for Chocolate Bars With Fillings in Ecuador

The Ecuadorian chocolate bar with filling market contracted to $X in 2021, shrinking by -8.3% against the previous year. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X, and then declined in the following year.

Production of Chocolate Bars With Fillings in Ecuador

In value terms, chocolate bar with filling production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 36% against the previous year. As a result, production reached the peak level of $X, and then contracted in the following year.

Exports of Chocolate Bars With Fillings

Exports from Ecuador

In 2021, shipments abroad of chocolate bars with fillings increased by 0.9% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, saw a dramatic downturn. The growth pace was the most rapid in 2020 when exports increased by 25%. The exports peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, chocolate bar with filling exports contracted modestly to $X in 2021. Over the period under review, exports, however, faced a abrupt descent. The most prominent rate of growth was recorded in 2020 when exports increased by 11%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for chocolate bar with filling exports from Ecuador, accounting for a 68% share of total exports. Moreover, chocolate bar with filling exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), fourfold. The third position in this ranking was held by the Netherlands (X kg), with a 4.8% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+14.0% per year) and the Netherlands (-2.7% per year).

In value terms, the United States ($X), Chile ($X) and the Netherlands ($X) appeared to be the largest markets for chocolate bar with filling exported from Ecuador worldwide, with a combined 85% share of total exports.

Chile, with a CAGR of +19.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2021, with a decrease of -3.3% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.0%. The most prominent rate of growth was recorded in 2018 when the average export price increased by 17% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Paraguay ($X per ton), while the average price for exports to the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Peru (+67.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports into Ecuador

In 2021, the amount of chocolate bars with fillings imported into Ecuador soared to X tons, rising by 70% against the previous year. Over the period under review, imports enjoyed resilient growth. The pace of growth appeared the most rapid in 2017 when imports increased by 92% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, chocolate bar with filling imports soared to $X in 2021. In general, imports continue to indicate a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 97% against the previous year. Over the period under review, imports hit record highs at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Colombia (X tons), Turkey (X tons) and the United States (X tons) were the main suppliers of chocolate bar with filling imports to Ecuador, with a combined 78% share of total imports. Brazil, China and Italy lagged somewhat behind, together comprising a further 18%.

From 2012 to 2021, the biggest increases were in Brazil (with a CAGR of +63.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of chocolate bar with filling to Ecuador, comprising 48% of total imports. The second position in the ranking was taken by Colombia ($X), with a 20% share of total imports. It was followed by Brazil, with a 7.8% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+4.5% per year) and Brazil (+64.6% per year).

Import Prices by Country

In 2021, the average chocolate bar with filling import price amounted to $X per ton, rising by 11% against the previous year. Over the period under review, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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