Colombia: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Colombia

In 2022, the Colombian market for candies, sweets, and nonchocolate confectionery was finally on the rise to reach $X for the first time since 2018, thus ending a three-year declining trend. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption reached the peak level and is likely to continue growth in the immediate term.

Production of Candies, Sweets, and Nonchocolate Confectionery in Colombia

In value terms, candy, sweets, and nonchocolate confectionery production reduced slightly to $X in 2022 estimated in export price. Overall, production showed a noticeable setback. The pace of growth appeared the most rapid in 2017 with an increase of 23% against the previous year. Candy, sweets, and nonchocolate confectionery production peaked at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Colombia

In 2022, exports of candies, sweets, and nonchocolate confectionery from Colombia dropped significantly to X tons, waning by -46.8% against the previous year. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2017 with an increase of 50%. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports shrank markedly to $X in 2022. Over the period under review, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2017 with an increase of 63%. The exports peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Venezuela (X tons), Peru (X tons) and the United States (X tons) were the main destinations of candy, sweets, and nonchocolate confectionery exports from Colombia, together comprising 36% of total exports. Ecuador, Chile, the Dominican Republic, Nigeria, Costa Rica, Haiti, Bolivia, Congo, the United Arab Emirates and Guinea lagged somewhat behind, together accounting for a further 39%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Guinea (with a CAGR of +33.7%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Venezuela ($X) and Peru ($X) constituted the largest markets for candy, sweets, and nonchocolate confectionery exported from Colombia worldwide, together comprising 38% of total exports. Ecuador, Chile, the Dominican Republic, Costa Rica, Bolivia, Nigeria, Haiti, Congo, the United Arab Emirates and Guinea lagged somewhat behind, together accounting for a further 38%.

Among the main countries of destination, Guinea, with a CAGR of +34.4%, saw the highest rates of growth with regard to the value of exports, 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 export price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, picking up by 25% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. Over the period under review, the average export prices attained the maximum at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Costa Rica ($X per ton), while the average price for exports to Nigeria ($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 the United States (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Colombia

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were imported into Colombia; surging by 9.5% on the year before. Over the period under review, total imports indicated a temperate expansion from 2012 to 2022: its volume increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +28.7% against 2020 indices. The pace of growth appeared the most rapid in 2014 with an increase of 27%. Over the period under review, imports attained the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports rose modestly to $X in 2022. Overall, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +33.2% against 2020 indices. The pace of growth was the most pronounced in 2021 when imports increased by 28%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Mexico (X tons) constituted the largest candy, sweets, and nonchocolate confectionery supplier to Colombia, accounting for a 54% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from Mexico exceeded the figures recorded by the second-largest supplier, Spain (X tons), sevenfold. Guatemala (X tons) ranked third in terms of total imports with a 6.6% share.

From 2012 to 2022, the average annual growth rate of volume from Mexico amounted to +31.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+1.0% per year) and Guatemala (-4.3% per year).

In value terms, Mexico ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Colombia, comprising 55% of total imports. The second position in the ranking was held by the United States ($X), with an 8% share of total imports. It was followed by Spain, with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Mexico stood at +18.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-7.4% per year) and Spain (+0.3% per year).

Import Prices by Country

The average import price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, waning by -5.2% against the previous year. Over the period under review, the import price showed a mild curtailment. The pace of growth appeared the most rapid in 2021 when the average import price increased by 9.1%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Ecuador ($X per ton), while the price for Costa Rica ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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