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

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

The Ecuadorian market for candies, sweets, and nonchocolate confectionery dropped to $X in 2022, with a decrease of -9.9% against the previous year. The market value increased at an average annual rate of +2.2% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Ecuador

In value terms, candy, sweets, and nonchocolate confectionery production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 34% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Ecuador

In 2022, shipments abroad of candies, sweets, and nonchocolate confectionery increased by 5.9% to X tons, rising for the second consecutive year after six years of decline. In general, exports, however, recorded a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 26% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports rose notably to $X in 2022. Over the period under review, exports, however, continue to indicate a deep reduction. The pace of growth was the most pronounced in 2021 when exports increased by 36%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons), Brazil (X tons) and Mexico (X tons) were the main destinations of candy, sweets, and nonchocolate confectionery exports from Ecuador, with a combined 60% share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +33.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for candy, sweets, and nonchocolate confectionery exported from Ecuador were Brazil ($X), Mexico ($X) and the United States ($X), together accounting for 53% of total exports.

Among the main countries of destination, the United States, with a CAGR of +25.0%, recorded the highest growth rate of 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

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, increasing by 1.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The pace of growth was the most pronounced in 2020 an increase of 8.3%. The export price peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Mexico ($X per ton), while the average price for exports to the United Arab Emirates ($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 Colombia (+13.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Ecuador

In 2022, the amount of candies, sweets, and nonchocolate confectionery imported into Ecuador contracted notably to X tons, declining by -38.7% compared with the previous year's figure. In general, imports showed a abrupt downturn. The pace of growth was the most pronounced in 2017 when imports increased by 39% against the previous year. Over the period under review, imports reached the maximum at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports contracted dramatically to $X in 2022. Overall, imports recorded a deep contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 43%. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Colombia (X tons) constituted the largest supplier of candy, sweets, and nonchocolate confectionery to Ecuador, with a 52% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. Mexico (X tons) ranked third in terms of total imports with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Colombia stood at -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.4% per year) and Mexico (+52.5% per year).

In value terms, Colombia ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Ecuador, comprising 51% of total imports. The second position in the ranking was held by China ($X), with a 10% share of total imports. It was followed by Mexico, with a 7.1% share.

From 2012 to 2022, the average annual growth rate of value from Colombia stood at -6.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.8% per year) and Mexico (+37.2% per year).

Import Prices by Country

In 2022, the average import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, with an increase of 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 15% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the near future.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Peru ($X per ton) and Guatemala ($X per ton), while the price for China ($X per ton) and Argentina ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guatemala (+2.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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