Paraguay: Chocolate Market 2024

Chocolate Market Size in Paraguay

The Paraguayan chocolate market totaled $X in 2022, with an increase of 1.6% against the previous year. Over the period under review, the total consumption indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.1% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Paraguay

In value terms, chocolate production stood at $X in 2022 estimated in export price. Overall, the total production indicated prominent growth from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.1% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 46% against the previous year. Chocolate production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Paraguay

After two years of growth, overseas shipments of chocolate and cocoa products decreased by -63.4% to X tons in 2022. In general, exports, however, continue to indicate a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 1,969%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, chocolate exports contracted notably to $X in 2022. Overall, exports, however, saw a significant increase. The most prominent rate of growth was recorded in 2013 when exports increased by 1,848%. The exports peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X tons), Spain (X kg) and Brazil (X kg) were the main destinations of chocolate exports from Paraguay.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Spain (with a CAGR of +37.4%), while the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) emerged as the key foreign market for chocolate and cocoa products exports from Paraguay, comprising 62% of total exports. The second position in the ranking was taken by Spain ($X), with a 24% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Canada amounted to +1.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (+41.5% per year) and Brazil (-35.6% per year).

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, waning by -19.7% against the previous year. Over the period under review, the export price, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2021 when the average export price increased by 106% against the previous year. As a result, the export price attained the peak level of $X per ton, and then reduced rapidly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Uruguay (+53.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Paraguay

In 2022, chocolate imports into Paraguay rose slightly to X tons, increasing by 3.8% on 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by 8.4% against the previous year. Imports peaked at X tons in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate imports totaled $X in 2022. In general, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 18%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Brazil (X tons) constituted the largest chocolate supplier to Paraguay, with a 71% share of total imports. Moreover, chocolate imports from Brazil exceeded the figures recorded by the second-largest supplier, Argentina (X tons), fivefold. The third position in this ranking was held by Chile (X tons), with a 6.4% share.

From 2012 to 2022, the average annual growth rate of volume from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-3.8% per year) and Chile (-0.7% per year).

In value terms, Brazil ($X) constituted the largest supplier of chocolate and cocoa products to Paraguay, comprising 57% of total imports. The second position in the ranking was taken by Argentina ($X), with an 18% share of total imports. It was followed by Chile, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Brazil was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Argentina (-2.2% per year) and Chile (-3.7% per year).

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, increasing by 10% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the average import price increased by 16% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Switzerland (+3.8%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform