Canada: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Canada

After two years of decline, the Canadian chocolate and confectionery market increased by 4.6% to $X in 2022. The market value increased at an average annual rate of +2.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the immediate term.

Chocolate And Confectionery Production in Canada

In value terms, chocolate and confectionery production totaled $X in 2022 estimated in export price. Over the period under review, the total production indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.4% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 49%. Chocolate and confectionery production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Chocolate And Confectionery Exports

Exports from Canada

For the eleventh year in a row, Canada recorded growth in overseas shipments of chocolate and confectionery, which increased by 1.7% to X tons in 2022. The total export volume increased at an average annual rate of +4.3% 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 2015 when exports increased by 8.2%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, chocolate and confectionery exports rose sharply to $X in 2022. Over the period under review, total exports indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +41.0% against 2018 indices. The pace of growth appeared the most rapid in 2015 with an increase of 13%. The exports peaked in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for chocolate and confectionery exports from Canada, accounting for a 94% share of total exports. It was followed by Mexico (X tons), with a 2.1% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +4.2%.

In value terms, the United States ($X) remains the key foreign market for chocolate and confectionery exports from Canada, comprising 94% of total exports. The second position in the ranking was taken by Mexico ($X), with a 1.6% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to +7.0%.

Export Prices by Country

In 2022, the average chocolate and confectionery export price amounted to $X per ton, growing by 8.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.7%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Mexico amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+2.7%).

Chocolate And Confectionery Imports

Imports into Canada

For the third consecutive year, Canada recorded growth in purchases abroad of chocolate and confectionery, which increased by 12% to X tons in 2022. Over the period under review, imports enjoyed a moderate increase. The pace of growth was the most pronounced in 2018 with an increase of 58%. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, chocolate and confectionery imports expanded remarkably to $X in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of chocolate and confectionery to Canada, with a 57% share of total imports. Moreover, chocolate and confectionery imports from the United States exceeded the figures recorded by the second-largest supplier, Belgium (X tons), more than tenfold. The third position in this ranking was taken by Malaysia (X tons), with a 4.5% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+5.3% per year) and Malaysia (+11.3% per year).

In value terms, the United States ($X) constituted the largest supplier of chocolate and confectionery to Canada, comprising 52% of total imports. The second position in the ranking was held by Belgium ($X), with a 5.3% share of total imports. It was followed by Switzerland, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value from the United States amounted to +3.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (+4.3% per year) and Switzerland (+4.2% per year).

Import Prices by Country

In 2022, the average chocolate and confectionery import price amounted to $X per ton, dropping by -3% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of 93% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2016; however, from 2017 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 Mexico ($X per ton), while the price for Cote d'Ivoire ($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 (+1.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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