Brazil: Chocolate Market 2024

Chocolate Market Size in Brazil

The Brazilian chocolate market stood at $X in 2022, approximately equating the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market remained at a somewhat lower figure.

Chocolate Production in Brazil

In value terms, chocolate production amounted to $X in 2022 estimated in export price. Overall, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 14% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Brazil

In 2022, exports of chocolate and cocoa products from Brazil expanded significantly to X tons, picking up by 8.4% on the previous year's figure. The total export volume increased at an average annual rate of +1.7% 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 2021 with an increase of 16% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, chocolate exports stood at $X in 2022. In general, exports showed a slight expansion. The most prominent rate of growth was recorded in 2021 with an increase of 30%. The exports peaked in 2022 and are expected to retain growth in years to come.

Exports by Country

Argentina (X tons), Paraguay (X tons) and Bolivia (X tons) were the main destinations of chocolate exports from Brazil, together accounting for 48% of total exports. Uruguay, Chile, Venezuela, the United States, Peru, Colombia, Ecuador, Democratic Republic of the Congo and the Dominican Republic lagged somewhat behind, together comprising a further 34%.

From 2012 to 2022, the biggest increases were recorded for Democratic Republic of the Congo (with a CAGR of +22.4%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the key foreign market for chocolate and cocoa products exports from Brazil, comprising 27% of total exports. The second position in the ranking was held by Chile ($X), with an 11% share of total exports. It was followed by Paraguay, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Argentina amounted to +1.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+5.6% per year) and Paraguay (-0.4% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, picking up by 3.9% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Democratic Republic of the Congo ($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 Colombia (+2.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Brazil

In 2022, chocolate imports into Brazil declined sharply to X tons, waning by -17.6% compared with the previous year. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when imports increased by 35%. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, chocolate imports fell to $X in 2022. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of 36% against the previous year. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports failed to regain momentum.

Imports by Country

Argentina (X tons), Germany (X tons) and Switzerland (X tons) were the main suppliers of chocolate imports to Brazil, with a combined 51% share of total imports. Italy, Belgium, India, Poland, France, the United States, Turkey, Spain, Mexico and Ecuador lagged somewhat behind, together comprising a further 44%.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +33.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) constituted the largest supplier of chocolate and cocoa products to Brazil, comprising 31% of total imports. The second position in the ranking was taken by Switzerland ($X), with a 14% share of total imports. It was followed by Germany, with a 13% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Argentina totaled -3.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Switzerland (+4.3% per year) and Germany (+24.0% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, picking up by 6.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 27%. Over the period under review, average import prices reached the maximum 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 origin: amid the top importers, the country with the highest price was Mexico ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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