Ecuador: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Ecuador

The Ecuadorian chocolate bar with filling market totaled $X in 2021, stabilizing at the previous year. In general, consumption, however, showed a tangible expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Production of Chocolate Bars With Fillings in Ecuador

In value terms, chocolate bar with filling production reduced slightly to $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed noticeable growth. The pace of growth appeared the most rapid in 2018 when the production volume increased by 64% against the previous year. Chocolate bar with filling production peaked at $X in 2020, and then contracted modestly in the following year.

Exports of Chocolate Bars With Fillings

Exports from Ecuador

In 2021, shipments abroad of chocolate bars with fillings increased by 0.9% to X tons, rising for the second consecutive year after three years of decline. Over the period under review, exports, however, faced a significant decrease. The growth pace was the most rapid in 2016 with an increase of 1,583%. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, chocolate bar with filling exports fell to $X in 2021. In general, exports, however, continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2016 when exports increased by 853%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for chocolate bar with filling exports from Ecuador, with a 59% share of total exports. Moreover, chocolate bar with filling exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), fourfold. Japan (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the United States amounted to -7.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (+12.2% per year) and Japan (+8.0% per year).

In value terms, the largest markets for chocolate bar with filling exported from Ecuador were the United States ($X), Chile ($X) and Japan ($X), with a combined 82% share of total exports.

In terms of the main countries of destination, Chile, with a CAGR of +16.8%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2021, which is down by -3.3% against the previous year. In general, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +2.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, chocolate bar with filling export price decreased by -14.1% against 2019 indices. The pace of growth was the most pronounced in 2017 when the average export price increased by 69% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to the United States ($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 Mexico (+35.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports into Ecuador

In 2021, imports of chocolate bars with fillings into Ecuador soared to X tons, picking up by 39% on the previous year's figure. Overall, imports posted a strong expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 92% against the previous year. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, chocolate bar with filling imports skyrocketed to $X in 2021. In general, imports recorded a strong expansion. The pace of growth was the most pronounced in 2017 when imports increased by 97% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Colombia (X tons), Turkey (X tons) and the United States (X tons) were the main suppliers of chocolate bar with filling imports to Ecuador, together comprising 77% of total imports. Brazil, China, Italy and Spain lagged somewhat behind, together accounting for a further 19%.

From 2012 to 2021, the biggest increases were recorded for Brazil (with a CAGR of +59.8%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of chocolate bars with fillings to Ecuador, comprising 48% of total imports. The second position in the ranking was held by Colombia ($X), with a 20% share of total imports. It was followed by Brazil, with a 7.8% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +18.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+0.5% per year) and Brazil (+58.3% per year).

Import Prices by Country

The average chocolate bar with filling import price stood at $X per ton in 2021, with a decrease of -4.1% against the previous year. Over the period under review, the import price recorded a mild contraction. The growth pace was the most rapid in 2018 when the average import price increased by 14%. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+4.1%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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