Latin America and the Caribbean: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Latin America and the Caribbean

In 2021, the Latin American chocolate bar with filling market decreased by -1% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2020, and then declined in the following year.

Production of Chocolate Bars With Fillings in Latin America and the Caribbean

In value terms, chocolate bar with filling production shrank to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.9% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 38% against the previous year. The level of production peaked at $X in 2020, and then contracted modestly in the following year.

Exports of Chocolate Bars With Fillings

Exports in Latin America and the Caribbean

After two years of decline, shipments abroad of chocolate bars with fillings increased by 25% to X tons in 2021. Over the period under review, exports, however, showed a pronounced slump. The pace of growth appeared the most rapid in 2016 with an increase of 31% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, chocolate bar with filling exports soared to $X in 2021. In general, exports, however, showed a pronounced decrease. The most prominent rate of growth was recorded in 2016 with an increase of 32% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

In 2021, Mexico (X tons) and Trinidad and Tobago (X tons) were the major exporters of chocolate bars with fillings in Latin America and the Caribbean, together resulting at near 51% of total exports. It was distantly followed by Colombia (X tons), Brazil (X tons), Argentina (X tons) and Chile (X tons), together achieving a 42% share of total exports. Peru (X tons) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Colombia (with a CAGR of +14.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Trinidad and Tobago ($X), Mexico ($X) and Brazil ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 64% share of total exports. Colombia, Chile, Argentina and Peru lagged somewhat behind, together comprising a further 30%.

In terms of the main exporting countries, Colombia, with a CAGR of +11.2%, 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 export price in Latin America and the Caribbean stood at $X per ton in 2021, falling by -6.2% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the export price increased by 21% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Brazil ($X per ton), while Peru ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Brazil (+6.2%), while the other leaders experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports in Latin America and the Caribbean

In 2021, purchases abroad of chocolate bars with fillings was finally on the rise to reach X tons after two years of decline. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The volume of import peaked at X tons in 2018; however, from 2019 to 2021, imports failed to regain momentum.

In value terms, chocolate bar with filling imports surged to $X in 2021. The total import value increased at an average annual rate of +2.5% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Venezuela (X tons), Mexico (X tons) and Chile (X tons) was the main importer of chocolate bars with fillings in Latin America and the Caribbean, committing 41% of total import. Colombia (X tons) held a 6.2% share (based on physical terms) of total imports, which put it in second place, followed by Panama (6.2%), Brazil (5.9%) and the Dominican Republic (4.9%). The following importers - Guatemala (X tons), Ecuador (X tons), Jamaica (X tons), Costa Rica (X tons), Bolivia (X tons) and Honduras (X tons) - together made up 21% of total imports.

From 2012 to 2021, the biggest increases were recorded for Chile (with a CAGR of +20.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Panama ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 39% share of total imports. These countries were followed by Brazil, Venezuela, Guatemala, Jamaica, Colombia, Ecuador, Costa Rica, the Dominican Republic, Honduras and Bolivia, which together accounted for a further 44%.

Among the main importing countries, Jamaica, with a CAGR of +20.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Latin America and the Caribbean amounted to $X per ton, which is down by -6% against the previous year. Overall, the import price showed a mild curtailment. The pace of growth appeared the most rapid in 2019 an increase of 4.1% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bolivia (+5.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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