Peru: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Peru

The Peruvian chocolate bar with filling market rose modestly to $X in 2021, growing by 1.7% against the previous year. In general, consumption showed a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Production of Chocolate Bars With Fillings in Peru

In value terms, chocolate bar with filling production rose slightly to $X in 2021 estimated in export price. Over the period under review, production recorded a mild setback. The pace of growth was the most pronounced in 2013 with an increase of 22% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2021, production growth failed to regain momentum.

Exports of Chocolate Bars With Fillings

Exports from Peru

In 2021, shipments abroad of chocolate bars with fillings decreased by -4.8% to X tons for the first time since 2016, thus ending a four-year rising trend. In general, exports, however, continue to indicate a resilient expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 69%. Over the period under review, the exports hit record highs at X tons in 2020, and then fell in the following year.

In value terms, chocolate bar with filling exports declined sharply to $X in 2021. Overall, exports, however, posted moderate growth. The most prominent rate of growth was recorded in 2013 when exports increased by 95% against the previous year. As a result, the exports attained the peak of $X. From 2014 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Ecuador (X tons), Chile (X tons) and Bolivia (X tons) were the main destinations of chocolate bar with filling exports from Peru, with a combined 92% share of total exports. These countries were followed by the United States, Guatemala and Canada, which together accounted for a further 5.5%.

From 2012 to 2021, the biggest increases were recorded for Guatemala (with a CAGR of +141.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ecuador ($X), Chile ($X) and the United States ($X) constituted the largest markets for chocolate bar with filling exported from Peru worldwide, with a combined 85% share of total exports. These countries were followed by Bolivia, Guatemala and Canada, which together accounted for a further 9.4%.

Guatemala, with a CAGR of +118.3%, recorded the highest growth rate of the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2021, shrinking by -14.9% against the previous year. Overall, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2013 an increase of 26% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Chile ($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 Bolivia (+0.5%), while the prices for the other major destinations experienced a decline.

Imports of Chocolate Bars With Fillings

Imports into Peru

In 2021, the amount of chocolate bars with fillings imported into Peru skyrocketed to X tons, with an increase of 92% on the previous year. Overall, imports showed a strong expansion. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, chocolate bar with filling imports skyrocketed to $X in 2021. In general, imports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 with an increase of 97% against the previous year. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

The United States (X tons), Colombia (X tons) and Germany (X tons) were the main suppliers of chocolate bar with filling imports to Peru, with a combined 84% share of total imports. Italy, Costa Rica, Mexico and Brazil lagged somewhat behind, together accounting for a further 14%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Costa Rica (with a CAGR of +36.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of chocolate bars with fillings to Peru, comprising 54% of total imports. The second position in the ranking was taken by Colombia ($X), with a 13% share of total imports. It was followed by Germany, with an 11% share.

From 2012 to 2021, the average annual growth rate of value from the United States totaled +10.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (+6.8% per year) and Germany (+20.0% per year).

Import Prices by Country

In 2021, the average chocolate bar with filling import price amounted to $X per ton, which is down by -7.6% against the previous year. Over the last nine years, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2018 when the average import price increased by 27%. Over the period under review, average import prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Costa Rica ($X per ton), while the price for Colombia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+6.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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