Latin America and the Caribbean: Cocoa Powder Market 2024

Cocoa Powder Market Size in Latin America and the Caribbean

In 2022, the Latin American cocoa powder market decreased by X% to $X, falling for the second consecutive year after six years of growth. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Cocoa Powder Production in Latin America and the Caribbean

In value terms, cocoa powder production amounted 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; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

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Cocoa Powder Exports

Exports in Latin America and the Caribbean

In 2022, overseas shipments of cocoa powder (not sweetened) increased by X% to X tons, rising for the sixth consecutive year after two years of decline. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, cocoa powder exports surged to $X in 2022. Overall, exports, however, saw a perceptible reduction. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Brazil (X tons) was the largest exporter of cocoa powder (not sweetened), mixing up X% of total exports. It was distantly followed by Peru (X tons), Uruguay (X tons) and Ecuador (X tons), together creating a X% share of total exports. The following exporters - Mexico (X tons) and Colombia (X tons) - each amounted to a X% share of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of cocoa powder (not sweetened). At the same time, Peru (X%), Colombia (X%), Mexico (X%) and Uruguay (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. By contrast, Ecuador (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Peru, Uruguay, Colombia and Mexico increased by X, X, X and X percentage points, respectively.

In value terms, Brazil ($X) remains the largest cocoa powder supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Peru ($X), with a X% share of total exports. It was followed by Uruguay, with a X% share.

In Brazil, cocoa powder exports declined by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Peru (X% per year) and Uruguay (X% per year).

Export Prices by Country

The export price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2021 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Mexico ($X per ton) and Peru ($X per ton), while Uruguay ($X per ton) and Ecuador ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Uruguay (X%), while the other leaders experienced a decline in the export price figures.

Cocoa Powder Imports

Imports in Latin America and the Caribbean

In 2022, supplies from abroad of cocoa powder (not sweetened) decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at X tons in 2021, and then reduced rapidly in the following year.

In value terms, cocoa powder imports fell to $X in 2022. Over the period under review, imports continue to indicate a perceptible setback. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of cocoa powder (not sweetened), namely Argentina, Brazil, Chile and Mexico, represented more than two-thirds of total import. It was distantly followed by Colombia (X tons), creating a X% share of total imports. The following importers - Peru (X tons), Guatemala (X tons), Bolivia (X tons) and Uruguay (X tons) - together made up X% of total imports.

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

In value terms, the largest cocoa powder importing markets in Latin America and the Caribbean were Argentina ($X), Brazil ($X) and Chile ($X), together comprising X% of total imports. Mexico, Colombia, Peru, Guatemala, Bolivia and Uruguay lagged somewhat behind, together accounting for a further X%.

Guatemala, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, growing by X% against the previous year. Over the period under review, the import price, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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