Report Update Nov 1, 2024

Mexico - Chocolate and Cocoa Products - Market Analysis, Forecast, Size, Trends and Insights

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Mexico: Chocolate Market 2024

Chocolate Market Size in Mexico

In 2022, the Mexican chocolate market decreased by -3.5% to $X, falling for the fourth year in a row after five years of growth. In general, consumption showed a slight contraction. The pace of growth was the most pronounced in 2016 with an increase of 6%. Chocolate consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Chocolate Production in Mexico

In value terms, chocolate production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a mild downturn. The growth pace was the most rapid in 2014 with an increase of 3.4% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Chocolate Exports

Exports from Mexico

In 2022, shipments abroad of chocolate and cocoa products increased by 11% to X tons, rising for the third year in a row after six years of decline. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 968%. The exports peaked at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, chocolate exports rose sharply to $X in 2022. In general, exports showed a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for chocolate exports from Mexico, with a 95% share of total exports. It was followed by Canada (X tons), with a 2.2% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United States was relatively modest.

In value terms, the United States ($X) remains the key foreign market for chocolate and cocoa products exports from Mexico, comprising 89% of total exports. The second position in the ranking was held by Canada ($X), with a 4.2% share of total exports.

From 2012 to 2022, the average annual growth rate of value to the United States totaled +1.2%.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, growing by 2.5% against the previous year. Overall, the export price saw a slight increase. The most prominent rate of growth was recorded in 2018 an increase of 179%. The export price peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+1.8%).

Chocolate Imports

Imports into Mexico

Chocolate imports into Mexico surged to X tons in 2022, rising by 16% compared with 2021 figures. In general, imports, however, continue to indicate a perceptible slump. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, chocolate imports surged to $X in 2022. Over the period under review, imports, however, saw a perceptible shrinkage. Over the period under review, imports attained the peak figure at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Canada (X tons) and Germany (X tons) were the main suppliers of chocolate imports to Mexico, together comprising 91% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Germany (with a CAGR of +14.4%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United States ($X) constituted the largest supplier of chocolate and cocoa products to Mexico, comprising 75% of total imports. The second position in the ranking was held by Canada ($X), with a 12% share of total imports. It was followed by Germany, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from the United States stood at -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (-7.6% per year) and Germany (+10.1% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, approximately equating the previous year. Overall, the import price, however, saw a slight contraction. The most prominent rate of growth was recorded in 2014 an increase of 3.6%. As a result, import price attained the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for Canada ($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 (+3.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for chocolate and cocoa products in the world?

The countries with the highest volumes of chocolate consumption in 2021 were China, the United States and Germany, with a combined 32% share of global consumption. These countries were followed by Russia, Indonesia, Pakistan, Brazil, Bangladesh, Mexico, the UK, Nigeria, South Korea and France, which together accounted for a further 24%.

What are the largest producers of chocolate and cocoa products in the world?

The countries with the highest volumes of chocolate production in 2021 were China, the United States and Germany, together comprising 32% of global production. These countries were followed by Russia, Indonesia, Pakistan, Brazil, Mexico, Bangladesh, Italy, Nigeria, Belgium and Canada, which together accounted for a further 25%.

What are the leading suppliers of chocolate and cocoa products to Mexico?

In value terms, the United States constituted the largest supplier of chocolate to Mexico, comprising 71% of total imports. The second position in the ranking was occupied by Canada, with a 21% share of total imports.

What are the leading importers of chocolate and cocoa products from Mexico?

In value terms, the United States remains the key foreign market for chocolate exports from Mexico, comprising 88% of total exports. The second position in the ranking was occupied by Canada, with a 5.2% share of total exports.

What is the average export price for chocolate and cocoa products in Mexico?

In 2021, the average chocolate export price amounted to $3,156 per ton, standing approx. at the previous year.

What is the average import price for chocolate and cocoa products in Mexico?

The average chocolate import price stood at $3,325 per ton in 2021, waning by -3.9% against the previous year.

This report provides an in-depth analysis of the chocolate market in Mexico. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

Prodcom 10821400 - Cocoa powder, containing added sugar or other sweetening matter
Prodcom 10822130 - Chocolate and other food preparations containing cocoa, in blocks, slabs or bars > 2 kg or in liquid, paste, powder, g ranular or other bulk form, in containers or immediate packings of a content > 2 kg, containing . .18 % by weight of
Prodcom 10822150 - Chocolate milk crumb containing .18 % or more by weight of cocoa butter and in packings weighing > 2 kg
Prodcom 10822170 - Chocolate flavour coating containing .18 % or more by weight of cocoa butter and in packings weighing > 2 kg
Prodcom 10822190 - Food preparations containing <18 % of cocoa butter and in packings weighing > 2 kg (excluding chocolate flavour coating, chocolate milk crumb)
Prodcom 10822233 - Filled chocolate blocks, slabs or bars consisting of a centre (including of cream, liqueur or fruit paste, excluding chocolate biscuits)
Prodcom 10822235 - Chocolate blocks, slabs or bars with added cereal, fruit or nuts (excluding filled, chocolate biscuits)
Prodcom 10822239 - Chocolate blocks, slabs or bars (excluding filled, with added cereal, fruit or nuts, chocolate biscuits)
Prodcom 10822243 - Chocolates (including pralines) containing alcohol (excluding in blocks, slabs or bars)
Prodcom 10822245 - Chocolates (excluding those containing alcohol, in blocks, s labs or bars)
Prodcom 10822253 - Filled chocolate confectionery (excluding in blocks, slabs or bars, chocolate biscuits, chocolates)
Prodcom 10822255 - Chocolate confectionery (excluding filled, in blocks, slabs or bars, chocolate biscuits, chocolates)
Prodcom 10822260 - Sugar confectionery and substitutes therefor made from sugar substitution products, containing cocoa (including chocolate nougat) (excluding white chocolate)
Prodcom 10822270 - Chocolate spreads
Prodcom 10822280 - Preparations containing cocoa for making beverages
Prodcom 10822290 - Food products with cocoa (excluding cocoa paste, butter, p owder, blocks, slabs, bars, liquid, paste, powder, granular, o ther bulk form in packings > 2 kg, to make beverages, c hocolate spreads)

Country coverage:

Mexico

Data coverage:

Market volume and value
Per Capita consumption
Forecast of the market dynamics in the medium term
Trade (exports and imports) in Mexico
Export and import prices
Market trends, drivers and restraints
Key market players and their profiles

Reasons to buy this report:

Take advantage of the latest data
Find deeper insights into current market developments
Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

How to diversify your business and benefit from new market opportunities
How to load your idle production capacity
How to boost your sales on overseas markets
How to increase your profit margins
How to make your supply chain more sustainable
How to reduce your production and supply chain costs
How to outsource production to other countries
How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

1. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business
1. REPORT DESCRIPTION
2. RESEARCH METHODOLOGY AND AI PLATFORM
3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
4. GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance
1. KEY FINDINGS
2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects
1. MARKET SIZE
2. MARKET STRUCTURE
3. TRADE BALANCE
4. PER CAPITA CONSUMPTION
5. MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCT

Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO
1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
2. BEST-SELLING PRODUCTS
3. MOST CONSUMED PRODUCT
4. MOST TRADED PRODUCT
5. MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO
1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
2. TOP PRODUCING COUNTRIES
3. TOP EXPORTING COUNTRIES
4. LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO
1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
2. TOP CONSUMING MARKETS
3. UNSATURATED MARKETS
4. TOP IMPORTING MARKETS
5. MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry
1. PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
1. IMPORTS FROM 2012–2023
2. IMPORTS BY COUNTRY
3. IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
1. EXPORTS FROM 2012–2023
2. EXPORTS BY COUNTRY
3. EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO
LIST OF TABLES
1. Key Findings In 2023
2. Market Volume, In Physical Terms, 2012–2023
3. Market Value, 2012–2023
4. Per Capita Consumption In 2012-2023
5. Imports, In Physical Terms, By Country, 2012–2023
6. Imports, In Value Terms, By Country, 2012–2023
7. Import Prices, By Country Of Origin, 2012–2023
8. Exports, In Physical Terms, By Country, 2012–2023
9. Exports, In Value Terms, By Country, 2012–2023
10. Export Prices, By Country Of Destination, 2012–2023
LIST OF FIGURES
1. Market Volume, In Physical Terms, 2012–2023
2. Market Value, 2012–2023
3. Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
4. Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
5. Trade Balance, In Physical Terms, 2012-2023
6. Trade Balance, In Value Terms, 2012-2023
7. Per Capita Consumption, 2012-2023
8. Market Volume Forecast to 2030
9. Market Value Forecast to 2030
10. Products: Market Size And Growth, By Type
11. Products: Average Per Capita Consumption, By Type
12. Products: Exports And Growth, By Type
13. Products: Export Prices And Growth, By Type
14. Production Volume And Growth
15. Exports And Growth
16. Export Prices And Growth
17. Market Size And Growth
18. Per Capita Consumption
19. Imports And Growth
20. Import Prices
21. Production, In Physical Terms, 2012–2023
22. Production, In Value Terms, 2012–2023
23. Imports, In Physical Terms, 2012–2023
24. Imports, In Value Terms, 2012–2023
25. Imports, In Physical Terms, By Country, 2023
26. Imports, In Physical Terms, By Country, 2012–2023
27. Imports, In Value Terms, By Country, 2012–2023
28. Import Prices, By Country Of Origin, 2012–2023
29. Exports, In Physical Terms, 2012–2023
30. Exports, In Value Terms, 2012–2023
31. Exports, In Physical Terms, By Country, 2023
32. Exports, In Physical Terms, By Country, 2012–2023
33. Exports, In Value Terms, By Country, 2012–2023
34. Export Prices, By Country Of Destination, 2012–2023