Latin America and the Caribbean: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Latin America and the Caribbean

The Latin American chocolate and confectionery market dropped slightly to $X in 2022, with a decrease of X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Chocolate And Confectionery Production in Latin America and the Caribbean

In value terms, chocolate and confectionery production dropped slightly 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 remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth was the most pronounced in 2016 with an increase of X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth remained at a lower figure.

Chocolate And Confectionery Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of chocolate and confectionery were exported in Latin America and the Caribbean; picking up by X% against the previous year's figure. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by X%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, chocolate and confectionery exports amounted to $X in 2022. In general, exports showed a relatively flat trend pattern. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico was the largest exporting country with an export of around X tons, which reached X% of total exports. It was distantly followed by Brazil (X tons), Peru (X tons), Ecuador (X tons) and Colombia (X tons), together creating a X% share of total exports. The following exporters - Argentina (X tons) and Guatemala (X tons) - each resulted at a X% share of total exports.

Mexico experienced a relatively flat trend pattern with regard to volume of exports of chocolate and confectionery. At the same time, Peru (X%), Guatemala (X%), Colombia (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Brazil experienced a relatively flat trend pattern. By contrast, Argentina (X%) illustrated a downward trend over the same period. Peru (X p.p.), Colombia (X p.p.) and Ecuador (X p.p.) significantly strengthened its position in terms of the total exports, while Argentina and Mexico saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest chocolate and confectionery supplying countries in Latin America and the Caribbean were Mexico ($X), Brazil ($X) and Peru ($X), with a combined X% share of total exports.

Peru, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Argentina ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

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

Chocolate And Confectionery Imports

Imports in Latin America and the Caribbean

In 2022, purchases abroad of chocolate and confectionery decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The growth pace was the most rapid in 2021 with an increase of X%. As a result, imports attained the peak of X tons, and then contracted in the following year.

In value terms, chocolate and confectionery imports rose slightly to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the near future.

Imports by Country

The countries with the highest levels of chocolate and confectionery imports in 2022 were Mexico (X tons), Brazil (X tons), Argentina (X tons) and Chile (X tons), together recording X% of total import. The following importers - Uruguay (X tons), Colombia (X tons), Guatemala (X tons), Peru (X tons), Venezuela (X tons), Ecuador (X tons), Bolivia (X tons), Costa Rica (X tons) and the Dominican Republic (X tons) - together made up X% of total imports.

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

In value terms, Mexico ($X), Brazil ($X) and Argentina ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Chile, Peru, Colombia, Guatemala, Ecuador, Costa Rica, Uruguay, the Dominican Republic, Bolivia and Venezuela lagged somewhat behind, together comprising a further X%.

The Dominican Republic, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Latin America and the Caribbean amounted to $X per ton, surging by X% against the previous year. Over the period under review, the import price, however, recorded a slight descent. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Costa Rica ($X per ton), while Uruguay ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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