Latin America and the Caribbean: Confectionery Market 2024

Confectionery Market Size in Latin America and the Caribbean

For the fourth consecutive year, the Latin American confectionery market recorded decline in sales value, which decreased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the market value increased by X%. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Confectionery Production in Latin America and the Caribbean

In value terms, confectionery production declined to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Confectionery Exports

Exports in Latin America and the Caribbean

In 2022, approx. X tons of confectionery were exported in Latin America and the Caribbean; increasing by X% compared with the previous year's figure. Total exports indicated slight growth from 2012 to 2022: its volume increased at an average annual rate of X% 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 X% against 2016 indices. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, confectionery exports surged to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Mexico represented the main exporter of confectionery in Latin America and the Caribbean, with the volume of exports finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Brazil (X tons), Colombia (X tons) and Guatemala (X tons), together making up a X% share of total exports. Ecuador (X tons), Peru (X tons) and Argentina (X tons) took a relatively small share of total exports.

Exports from Mexico increased at an average annual rate of X% from 2012 to 2022. At the same time, Peru (X%), Guatemala (X%), Brazil (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in Latin America and the Caribbean, with a CAGR of X% from 2012-2022. Colombia experienced a relatively flat trend pattern. By contrast, Argentina (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mexico and Peru increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($X) remains the largest confectionery supplier in Latin America and the Caribbean, comprising X% of total exports. The second position in the ranking was taken by Brazil ($X), with a X% share of total exports. It was followed by Colombia, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Mexico amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Brazil (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2022, the export price in Latin America and the Caribbean amounted to $X per ton, rising by X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of X%. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Peru ($X per ton), while Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Peru (X%), while the other leaders experienced more modest paces of growth.

Confectionery Imports

Imports in Latin America and the Caribbean

In 2022, overseas purchases of confectionery increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, confectionery imports totaled $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Mexico (X tons), followed by Chile (X tons), Brazil (X tons), Argentina (X tons), Guatemala (X tons), Peru (X tons) and Venezuela (X tons) represented the main importers of confectionery, together achieving X% of total imports. The Dominican Republic (X tons), Colombia (X tons), Ecuador (X tons), Honduras (X tons), Bolivia (X tons) and Uruguay (X tons) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the Dominican Republic (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Chile ($X) and Brazil ($X) were the countries with the highest levels of imports in 2022, together comprising X% of total imports. Argentina, Peru, Guatemala, Colombia, Ecuador, the Dominican Republic, Venezuela, Bolivia, Uruguay and Honduras lagged somewhat behind, together accounting for a further X%.

Guatemala, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Latin America and the Caribbean stood at $X per ton in 2022, surging by X% against the previous year. Over the period under review, the import price, however, recorded a relatively flat trend pattern. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brazil ($X per ton), while Honduras ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bolivia (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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