Chile: Chocolate Market 2024

Chocolate Market Size in Chile

After six years of growth, the Chilean chocolate market decreased by -3% to $X in 2022. The market value increased at an average annual rate of +4.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Chocolate consumption peaked at $X in 2021, and then contracted modestly in the following year.

Chocolate Production in Chile

In value terms, chocolate production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2014 when the production volume increased by 40%. As a result, production attained the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Chile

Chocolate exports from Chile soared to X tons in 2022, rising by 18% on the year before. Overall, exports, however, saw a pronounced decrease. The growth pace was the most rapid in 2019 with an increase of 20%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports soared to $X in 2022. Over the period under review, exports, however, showed a noticeable downturn. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Peru (X tons), Ecuador (X tons) and Bolivia (X tons) were the main destinations of chocolate exports from Chile, with a combined 64% share of total exports. Thailand, Paraguay, Colombia, El Salvador and Mexico lagged somewhat behind, together comprising a further 22%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Thailand (with a CAGR of +43.9%), while the other leaders experienced more modest paces of growth.

In value terms, Peru ($X), Ecuador ($X) and Bolivia ($X) were the largest markets for chocolate exported from Chile worldwide, together comprising 55% of total exports. Paraguay, Thailand, El Salvador, Colombia and Mexico lagged somewhat behind, together accounting for a further 27%.

Thailand, with a CAGR of +39.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, falling by -2.3% against the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 an increase of 22% against the previous year. The export price peaked at $X per ton in 2021, and then shrank in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Paraguay ($X per ton), while the average price for exports to Bolivia ($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 Bolivia (+4.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Chile

In 2022, after six years of growth, there was significant decline in purchases abroad of chocolate and cocoa products, when their volume decreased by -12.7% to X tons. Overall, imports, however, showed a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 63%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, chocolate imports contracted to $X in 2022. Over the period under review, imports, however, showed a strong expansion. The growth pace was the most rapid in 2021 when imports increased by 83%. As a result, imports attained the peak of $X, and then shrank in the following year.

Imports by Country

Brazil (X tons), the United States (X tons) and Italy (X tons) were the main suppliers of chocolate imports to Chile, with a combined 37% share of total imports. Germany, Belgium, Argentina, Colombia, Turkey, Spain, Peru, Sweden, Switzerland and the UK lagged somewhat behind, together comprising a further 48%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Sweden (with a CAGR of +56.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), the United States ($X) and Italy ($X) were the largest chocolate suppliers to Chile, together comprising 38% of total imports. Germany, Belgium, Argentina, Spain, Colombia, Turkey, Switzerland, the UK, Peru and Sweden lagged somewhat behind, together accounting for a further 44%.

Among the main suppliers, Sweden, with a CAGR of +58.4%, saw 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 average chocolate import price stood at $X per ton in 2022, surging by 2.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 12%. The import price peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat 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 Brazil ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (+1.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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