Dominican Republic: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in the Dominican Republic

The Dominican market for chocolate bars with cereals, fruit or nuts was estimated at $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of +5.4% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Chocolate Bars with Cereals, Fruit or Nuts in the Dominican Republic

In value terms, production of chocolate bars with cereals, fruit or nuts rose slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +5.9% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when the production volume increased by 58%. Production of peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from the Dominican Republic

In 2022, the amount of chocolate bars with cereals, fruit or nuts exported from the Dominican Republic surged to X tons, picking up by 33% against the previous year's figure. In general, total exports indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +8.0% 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 +104.7% against 2017 indices. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, exports of chocolate bars with cereals, fruit or nuts skyrocketed to $X in 2022. Over the period under review, exports recorded a strong increase. The growth pace was the most rapid in 2013 with an increase of 99% against the previous year. Over the period under review, the exports of reached the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

The United States (X tons), Trinidad and Tobago (X tons) and Haiti (X tons) were the main destinations of exports of chocolate bars with cereals, fruit or nuts from the Dominican Republic, together comprising 81% of total exports. Bahamas, Barbados and Guyana lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahamas (with a CAGR of +8,216,300.0%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Trinidad and Tobago ($X) and Bahamas ($X) appeared to be the largest markets for cereal, fruit or nut chocolate bar exported from the Dominican Republic worldwide, with a combined 68% share of total exports.

Bahamas, with a CAGR of +33,177,750.0%, recorded the highest growth rate of 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

The average export price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, with an increase of 6.6% against the previous year. In general, export price indicated prominent growth from 2012 to 2022: its price increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for chocolate bars with cereals, fruit or nuts increased by +6.9% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by 57% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2016; however, from 2017 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 Bahamas ($X per ton), while the average price for exports to the United States ($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 Bahamas (+303.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into the Dominican Republic

In 2022, approx. X tons of chocolate bars with cereals, fruit or nuts were imported into the Dominican Republic; surging by 18% on the previous year's figure. Overall, imports continue to indicate strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 94% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

In value terms, imports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. In general, imports showed a buoyant expansion. The growth pace was the most rapid in 2013 when imports increased by 53%. Imports peaked in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

The United States (X tons), Turkey (X tons) and Guatemala (X tons) were the main suppliers of imports of chocolate bars with cereals, fruit or nuts to the Dominican Republic, with a combined 61% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +302.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to the Dominican Republic, comprising 46% of total imports. The second position in the ranking was taken by Spain ($X), with a 9.5% share of total imports. It was followed by Guatemala, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +15.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Spain (+37.3% per year) and Guatemala (+10.5% per year).

Import Prices by Country

In 2022, the average import price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, surging by 3.5% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the average import price increased by 40% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained 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 the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+6.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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