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

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in Ecuador

In 2022, the Ecuadorian market for chocolate bars with cereals, fruit or nuts decreased by -4.4% to $X, falling for the second consecutive year after two years of growth. In general, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -4.9% against 2020 indices. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Chocolate Bars with Cereals, Fruit or Nuts in Ecuador

In value terms, production of chocolate bars with cereals, fruit or nuts reached $X in 2022 estimated in export price. In general, production showed a strong increase. The most prominent rate of growth was recorded in 2015 when the production volume increased by 43%. Production of peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Ecuador

In 2022, the amount of chocolate bars with cereals, fruit or nuts exported from Ecuador declined sharply to X tons, which is down by -17.4% on 2021. In general, exports continue to indicate a mild downturn. The most prominent rate of growth was recorded in 2014 with an increase of 283% against the previous year. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. Overall, exports, however, recorded a strong expansion. The pace of growth was the most pronounced in 2014 when exports increased by 231%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for exports of chocolate bars with cereals, fruit or nuts from Ecuador, accounting for a 59% share of total exports. Moreover, exports of chocolate bars with cereals, fruit or nuts to the United States exceeded the volume sent to the second major destination, France (X tons), eightfold. Chile (X tons) ranked third in terms of total exports with a 6.8% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States totaled +13.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+33.8% per year) and Chile (+8.2% per year).

In value terms, the United States ($X) remains the key foreign market for chocolate bars with cereals, fruit or nuts exports from Ecuador, comprising 46% of total exports. The second position in the ranking was held by France ($X), with a 14% share of total exports. It was followed by Peru, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to +19.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+52.7% per year) and Peru (+1.0% per year).

Export Prices by Country

In 2022, the average export price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, with an increase of 45% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.9% 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 +52.4% against 2019 indices. The pace of growth was the most pronounced in 2015 an increase of 77%. Over the period under review, the average export prices attained the maximum at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

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 France ($X per ton), while the average price for exports to the United States ($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 France (+14.1%), 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 Ecuador

Imports of chocolate bars with cereals, fruit or nuts into Ecuador reduced markedly to X tons in 2022, falling by -56.8% on the previous year's figure. In general, imports showed a deep slump. The growth pace was the most rapid in 2021 with an increase of 67%. As a result, imports reached the peak of X tons, and then contracted notably in the following year.

In value terms, imports of chocolate bars with cereals, fruit or nuts contracted dramatically to $X in 2022. Over the period under review, imports continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 with an increase of 58% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2021, and then fell sharply in the following year.

Imports by Country

In 2022, Colombia (X tons) constituted the largest cereal, fruit or nut chocolate bar supplier to Ecuador, with a 60% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from Colombia exceeded the figures recorded by the second-largest supplier, Chile (X tons), threefold. The third position in this ranking was taken by Peru (X tons), with a 7.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia amounted to -9.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+2.6% per year) and Peru (+4.5% per year).

In value terms, Colombia ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to Ecuador, comprising 59% of total imports. The second position in the ranking was taken by Chile ($X), with a 12% share of total imports. It was followed by Germany, with an 8% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia stood at -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+3.5% per year) and Germany (+21.8% 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, increasing by 9.7% against the previous year. Overall, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 when the average import price increased by 14% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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 Spain ($X per ton), while the price for Turkey ($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 (+3.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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