Latin America and the Caribbean: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in Latin America and the Caribbean

In 2022, the Latin American market for chocolate bars with cereals, fruit or nuts decreased by X% to $X, falling for the third year in a row after three years of growth. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Chocolate Bars with Cereals, Fruit or Nuts in Latin America and the Caribbean

In value terms, production of chocolate bars with cereals, fruit or nuts declined slightly to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, production of hit record highs at $X in 2019; afterwards, it flattened through to 2022.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports in Latin America and the Caribbean

For the fourth consecutive year, LatAmerica and the Caribbean recorded growth in overseas shipments of chocolate bars with cereals, fruit or nuts, which increased by X% to X tons in 2022. Overall, exports, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports of reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. Over the period under review, exports, however, showed a mild downturn. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Mexico dominates nuts structure, recording X tons, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X tons), generating a X% share of total exports. Colombia (X tons) followed a long way behind the leaders.

Exports from Mexico decreased at an average annual rate of X% from 2012 to 2022. At the same time, Colombia (X%) displayed positive paces of growth. Moreover, Colombia emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. By contrast, Brazil (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico decreased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest cereal, fruit or nut chocolate bar supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with an X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Mexico amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Colombia (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. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 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 Colombia ($X per ton), while Mexico ($X per ton) was amongst the lowest.

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

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports in Latin America and the Caribbean

In 2022, imports of chocolate bars with cereals, fruit or nuts in Latin America and the Caribbean shrank modestly to X tons, standing approx. at 2021. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of X tons, leveling off in the following year.

In value terms, imports of chocolate bars with cereals, fruit or nuts amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports of reached the maximum in 2022 and are likely to continue growth in years to come.

Imports by Country

The purchases of the twelve major importers of chocolate bars with cereals, fruit or nuts, namely Chile, Mexico, Brazil, Argentina, Panama, Uruguay, Ecuador, Honduras, Bolivia, Paraguay, the Dominican Republic and Guatemala, represented more than two-thirds of total import. Peru (X tons) took a little share of total imports.

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

In value terms, the largest cereal, fruit or nut chocolate bar importing markets in Latin America and the Caribbean were Brazil ($X), Chile ($X) and Mexico ($X), with a combined X% share of total imports. Argentina, Panama, Uruguay, Peru, Ecuador, Paraguay, the Dominican Republic, Bolivia, Guatemala and Honduras lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Panama, with a CAGR of X%, recorded 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 import price in Latin America and the Caribbean stood at $X per ton in 2022, rising by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Peru ($X per ton), while Honduras ($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 more modest paces of growth.

Source: IndexBox Platform

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