Chile: Breakfast Cereal Market 2022

Breakfast Cereal Market Size in Chile

In 2021, the Chilean breakfast cereal market increased by 4.2% to $X, rising for the fifth year in a row after two years of decline. In general, the total consumption indicated a resilient expansion from 2012 to 2021: its value increased at an average annual rate of +6.4% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +56.4% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see gradual growth in years to come.

Breakfast Cereal Production in Chile

In value terms, breakfast cereal production dropped to $X in 2021 estimated in export price. Overall, production saw a pronounced setback. The pace of growth appeared the most rapid in 2020 when the production volume increased by 18%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2021, production stood at a somewhat lower figure.

Breakfast Cereal Exports

Exports from Chile

In 2021, the amount of breakfast cereals exported from Chile fell significantly to X tons, with a decrease of -29.3% on 2020. In general, exports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2020 with an increase of 15%. The exports peaked at X tons in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, breakfast cereal exports declined to $X in 2021. Overall, exports faced a abrupt decrease. The growth pace was the most rapid in 2020 when exports increased by 20%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2021, the exports failed to regain momentum.

Exports by Country

Peru (X tons) was the main destination for breakfast cereal exports from Chile, accounting for a 56% share of total exports. Moreover, breakfast cereal exports to Peru exceeded the volume sent to the second major destination, China (X tons), fourfold. Colombia (X tons) ranked third in terms of total exports with a 13% share.

From 2012 to 2021, the average annual growth rate of volume to Peru amounted to -2.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: China (+184.9% per year) and Colombia (-18.4% per year).

In value terms, Peru ($X) remains the key foreign market for breakfast cereal exports from Chile, comprising 37% of total exports. The second position in the ranking was held by Colombia ($X), with an 18% share of total exports. It was followed by Ecuador, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Peru amounted to -5.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (-14.6% per year) and Ecuador (-14.8% per year).

Export Prices by Country

The average breakfast cereal export price stood at $X per ton in 2021, growing by 24% against the previous year. Overall, the export price showed a relatively flat trend pattern. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Dominican Republic ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Dominican Republic (+15.5%), while the prices for the other major destinations experienced more modest paces of growth.

Breakfast Cereal Imports

Imports into Chile

Breakfast cereal imports into Chile soared to X tons in 2021, growing by 28% against the previous year's figure. The total import volume increased at an average annual rate of +2.7% over the period from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, breakfast cereal imports soared to $X in 2021. The total import value increased at an average annual rate of +5.1% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Colombia (X tons) constituted the largest breakfast cereal supplier to Chile, accounting for a 32% share of total imports. Moreover, breakfast cereal imports from Colombia exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was held by Peru (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume from Colombia stood at +7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-6.4% per year) and Peru (+50.6% per year).

In value terms, Colombia ($X) constituted the largest supplier of breakfast cereal to Chile, comprising 33% of total imports. The second position in the ranking was held by Brazil ($X), with a 9.2% share of total imports. It was followed by the United States, with an 8.9% share.

From 2012 to 2021, the average annual growth rate of value from Colombia stood at +8.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+1.5% per year) and the United States (-8.0% per year).

Import Prices by Country

In 2021, the average breakfast cereal import price amounted to $X per ton, increasing by 16% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Spain ($X per ton), while the price for Argentina ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+8.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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