Argentina: Chocolate Market 2024

Chocolate Market Size in Argentina

The Argentinian chocolate market fell to $X in 2022, shrinking by -2.7% against the previous year. The market value increased at an average annual rate of +1.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Chocolate consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Chocolate Production in Argentina

In value terms, chocolate production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 when the production volume increased by 22% against the previous year. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Argentina

In 2022, shipments abroad of chocolate and cocoa products was finally on the rise to reach X tons after four years of decline. Overall, exports, however, recorded a abrupt setback. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate exports surged to $X in 2022. Over the period under review, exports, however, saw a deep contraction. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Brazil (X tons), Uruguay (X tons) and Chile (X tons) were the main destinations of chocolate exports from Argentina, together accounting for 70% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Uruguay (with a CAGR of +3.3%), while the other leaders experienced a decline.

In value terms, Brazil ($X) remains the key foreign market for chocolate and cocoa products exports from Argentina, comprising 55% of total exports. The second position in the ranking was taken by Uruguay ($X), with a 15% share of total exports. It was followed by Chile, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Brazil amounted to -3.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uruguay (+2.5% per year) and Chile (-5.9% per year).

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, growing by 25% against the previous year. In general, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2022, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Brazil ($X per ton), while the average price for exports to Bolivia ($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 Brazil (+3.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Argentina

In 2022, overseas purchases of chocolate and cocoa products increased by 16% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 36%. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

In value terms, chocolate imports expanded sharply to $X in 2022. In general, imports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 33%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Brazil (X tons) constituted the largest chocolate supplier to Argentina, with a 83% share of total imports. Moreover, chocolate imports from Brazil exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The third position in this ranking was held by Chile (X tons), with a 1.9% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil stood at +2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+3.7% per year) and Chile (-2.4% per year).

In value terms, Brazil ($X) constituted the largest supplier of chocolate and cocoa products to Argentina, comprising 76% of total imports. The second position in the ranking was held by Ecuador ($X), with a 6.2% share of total imports. It was followed by Germany, with a 2.9% share.

From 2012 to 2022, the average annual growth rate of value from Brazil totaled +1.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Ecuador (-1.1% per year) and Germany (+2.7% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, reducing by -3.8% against the previous year. Overall, the import price continues to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 9.6%. The import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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