MERCOSUR: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in MERCOSUR

The MERCOSUR chocolate and confectionery market declined slightly to $X in 2022, approximately mirroring the previous year. Overall, consumption, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 8%. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Chocolate And Confectionery Production in MERCOSUR

In value terms, chocolate and confectionery production declined modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 7% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Chocolate And Confectionery Exports

Exports in MERCOSUR

After three years of growth, overseas shipments of chocolate and confectionery decreased by -12% to X tons in 2022. In general, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 11%. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, chocolate and confectionery exports stood at $X in 2022. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 15% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Brazil (X tons) was the largest exporter of chocolate and confectionery, mixing up 48% of total exports. Peru (X tons) held the second position in the ranking, distantly followed by Colombia (X tons), Ecuador (X tons), Argentina (X tons) and Uruguay (X tons). All these countries together took near 47% share of total exports. Chile (X tons) took a little share of total exports.

Brazil experienced a relatively flat trend pattern with regard to volume of exports of chocolate and confectionery. At the same time, Peru (+10.4%) and Uruguay (+2.6%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of +10.4% from 2012-2022. By contrast, Colombia (-1.1%), Chile (-2.1%), Ecuador (-7.8%) and Argentina (-9.5%) illustrated a downward trend over the same period. Peru (+13 p.p.) and Brazil (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Ecuador and Argentina saw its share reduced by -7.8% and -8.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X), Peru ($X) and Ecuador ($X) were the countries with the highest levels of exports in 2022, with a combined 76% share of total exports.

Peru, with a CAGR of +14.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries 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 MERCOSUR stood at $X per ton in 2022, picking up by 19% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; afterwards, it flattened through to 2022.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ecuador (+9.3%), while the other leaders experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports in MERCOSUR

After two years of growth, overseas purchases of chocolate and confectionery decreased by -11.4% to X tons in 2022. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 29%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, chocolate and confectionery imports fell to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2021 when imports increased by 39%. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Brazil (X tons), Argentina (X tons) and Chile (X tons) represented the main importer of chocolate and confectionery in MERCOSUR, committing 68% of total import. Uruguay (X tons) held a 7.4% share (based on physical terms) of total imports, which put it in second place, followed by Colombia (6.9%) and Peru (6.2%). The following importers - Venezuela (X tons) and Ecuador (X tons) - together made up 7.8% of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +5.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate and confectionery importing markets in MERCOSUR were Brazil ($X), Argentina ($X) and Chile ($X), with a combined 69% share of total imports.

Chile, with a CAGR of +6.0%, recorded 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

In 2022, the import price in MERCOSUR amounted to $X per ton, with an increase of 6.8% against the previous year. Overall, the import price, however, saw a mild slump. The most prominent rate of growth was recorded in 2021 when the import price increased by 7.4%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ecuador ($X per ton), while Venezuela ($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 (+1.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform