Dominican Republic: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in the Dominican Republic

The Dominican chocolate and confectionery market amounted to $X in 2022, standing approx. at the previous year. The market value increased at an average annual rate of +4.5% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Chocolate and confectionery consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Chocolate And Confectionery Production in the Dominican Republic

In value terms, chocolate and confectionery production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 when the production volume increased by 40%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chocolate And Confectionery Exports

Exports from the Dominican Republic

In 2022, approx. X tons of chocolate and confectionery were exported from the Dominican Republic; leveling off at the previous year's figure. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when exports increased by 24% against the previous year. As a result, the exports reached the peak of X tons, leveling off in the following year.

In value terms, chocolate and confectionery exports amounted to $X in 2022. Overall, total exports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +8.4% 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 +32.7% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 58% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

The United States (X tons) was the main destination for chocolate and confectionery exports from the Dominican Republic, with a 46% share of total exports. Moreover, chocolate and confectionery exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was held by Trinidad and Tobago (X tons), with a 7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States stood at +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (+73.6% per year) and Trinidad and Tobago (+20.0% per year).

In value terms, the United States ($X) remains the key foreign market for chocolate and confectionery exports from the Dominican Republic, comprising 36% of total exports. The second position in the ranking was held by Trinidad and Tobago ($X), with an 11% share of total exports. It was followed by Canada, with a 9.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +4.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Trinidad and Tobago (+32.3% per year) and Canada (+72.0% per year).

Export Prices by Country

The average chocolate and confectionery export price stood at $X per ton in 2022, picking up by 5% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +5.0%. The pace of growth appeared the most rapid in 2013 when the average export price increased by 42%. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Bahamas ($X per ton), while the average price for exports to Australia ($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 Trinidad and Tobago (+10.2%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into the Dominican Republic

Chocolate and confectionery imports into the Dominican Republic declined to X tons in 2022, waning by -7.8% against the previous year. Over the period under review, imports, however, enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when imports increased by 47% against the previous year. Imports peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, chocolate and confectionery imports rose sharply to $X in 2022. In general, total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.1% 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 +54.1% against 2020 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 39% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, the United States (X tons) constituted the largest chocolate and confectionery supplier to the Dominican Republic, with a 31% share of total imports. Moreover, chocolate and confectionery imports from the United States exceeded the figures recorded by the second-largest supplier, Turkey (X tons), twofold. Guatemala (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from the United States totaled +4.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+30.3% per year) and Guatemala (+13.5% per year).

In value terms, the United States ($X) constituted the largest supplier of chocolate and confectionery to the Dominican Republic, comprising 48% of total imports. The second position in the ranking was taken by Spain ($X), with an 8.1% share of total imports. It was followed by Turkey, with a 6.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +7.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+7.4% per year) and Turkey (+19.3% per year).

Import Prices by Country

The average chocolate and confectionery import price stood at $X per ton in 2022, jumping by 21% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The import price peaked at $X per ton in 2013; however, from 2014 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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+3.4%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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