Mexico: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Mexico

The Mexican chocolate bar with filling market expanded modestly to $X in 2021, growing by 2% against the previous year. In general, the total consumption indicated a noticeable expansion from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.8% against 2019 indices. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Production of Chocolate Bars With Fillings in Mexico

In value terms, chocolate bar with filling production expanded modestly to $X in 2021 estimated in export price. Over the period under review, the total production indicated tangible growth from 2012 to 2021: its value increased at an average annual rate of +4.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -2.4% against 2019 indices. The growth pace was the most rapid in 2014 with an increase of 85% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2021, production growth failed to regain momentum.

Exports of Chocolate Bars With Fillings

Exports from Mexico

In 2021, the amount of chocolate bars with fillings exported from Mexico soared to X tons, growing by 44% compared with the year before. Over the period under review, exports, however, faced a abrupt downturn. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, chocolate bar with filling exports reduced to $X in 2021. Overall, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2016 with an increase of 27%. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for chocolate bar with filling exports from Mexico, accounting for a 71% share of total exports. Moreover, chocolate bar with filling exports to the United States exceeded the volume sent to the second major destination, Guatemala (X tons), sixfold. The third position in this ranking was taken by Honduras (X tons), with a 6.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States stood at -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (+4.1% per year) and Honduras (+21.4% per year).

In value terms, the United States ($X) remains the key foreign market for chocolate bars with fillings exports from Mexico, comprising 63% of total exports. The second position in the ranking was held by Honduras ($X), with a 15% share of total exports. It was followed by Guatemala, with an 8.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United States stood at -9.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Honduras (+33.7% per year) and Guatemala (+2.0% per year).

Export Prices by Country

In 2021, the average chocolate bar with filling export price amounted to $X per ton, falling by -37.9% against the previous year. Over the period under review, the export price showed a noticeable decline. The pace of growth was the most pronounced in 2014 an increase of 39%. The export price peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Guatemala ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+10.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports into Mexico

In 2021, supplies from abroad of chocolate bars with fillings was finally on the rise to reach X tons for the first time since 2016, thus ending a four-year declining trend. Overall, imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2013 when imports increased by 23%. Over the period under review, imports reached the peak figure at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, chocolate bar with filling imports expanded significantly to $X in 2021. Over the period under review, imports, however, continue to indicate a slight shrinkage. The most prominent rate of growth was recorded in 2013 with an increase of 40% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, the United States (X tons) constituted the largest chocolate bar with filling supplier to Mexico, with a 70% share of total imports. Moreover, chocolate bar with filling imports from the United States exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Turkey (X tons) ranked third in terms of total imports with a 1.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United States stood at -1.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+6.5% per year) and Turkey (+19.2% per year).

In value terms, the United States ($X), Germany ($X) and Canada ($X) were the largest chocolate bar with filling suppliers to Mexico, with a combined 99% share of total imports.

Among the main suppliers, Canada, with a CAGR of +16.0%, 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 average chocolate bar with filling import price amounted to $X per ton, picking up by 5.2% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the average import price increased by 14%. As a result, import price attained the peak level of $X per ton. From 2014 to 2021, 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 Belgium ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+7.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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