Peru: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Peru

In 2022, the Peruvian market for candies, sweets, and nonchocolate confectionery decreased by -11.3% to $X for the first time since 2016, thus ending a five-year rising trend. Over the period under review, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2021, and then shrank in the following year.

Production of Candies, Sweets, and Nonchocolate Confectionery in Peru

In value terms, candy, sweets, and nonchocolate confectionery production reached $X in 2022 estimated in export price. Over the period under review, production showed resilient growth. The growth pace was the most rapid in 2015 when the production volume increased by 23% against the previous year. Candy, sweets, and nonchocolate confectionery production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Peru

In 2022, exports of candies, sweets, and nonchocolate confectionery from Peru dropped to X tons, shrinking by -9.3% on the previous year. Over the period under review, exports showed a slight contraction. The growth pace was the most rapid in 2021 with an increase of 50%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports reduced modestly to $X in 2022. The total export value increased at an average annual rate of +1.6% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 74% against the previous year. As a result, the exports attained the peak of $X, leveling off in the following year.

Exports by Country

Chile (X tons) was the main destination for candy, sweets, and nonchocolate confectionery exports from Peru, accounting for a 52% share of total exports. Moreover, candy, sweets, and nonchocolate confectionery exports to Chile exceeded the volume sent to the second major destination, Ecuador (X tons), threefold. The third position in this ranking was taken by Bolivia (X tons), with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to Chile amounted to +15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Ecuador (-12.2% per year) and Bolivia (+0.6% per year).

In value terms, Chile ($X) remains the key foreign market for candies, sweets, and nonchocolate confectionery exports from Peru, comprising 41% of total exports. The second position in the ranking was taken by the United States ($X), with a 16% share of total exports. It was followed by Ecuador, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Chile totaled +16.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+15.1% per year) and Ecuador (-10.2% per year).

Export Prices by Country

In 2022, the average export price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, picking up by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +3.2%. The growth pace was the most rapid in 2021 an increase of 16%. The export price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Saudi Arabia ($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 the United States (+10.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Peru

Candy, sweets, and nonchocolate confectionery imports into Peru contracted notably to X tons in 2022, declining by -45% on 2021. Overall, imports continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2021 with an increase of 51%. As a result, imports attained the peak of X tons, and then declined sharply in the following year.

In value terms, candy, sweets, and nonchocolate confectionery imports declined sharply to $X in 2022. In general, imports recorded a noticeable setback. The most prominent rate of growth was recorded in 2021 with an increase of 62% against the previous year. As a result, imports attained the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, Colombia (X tons) constituted the largest supplier of candy, sweets, and nonchocolate confectionery to Peru, with a 45% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from Colombia exceeded the figures recorded by the second-largest supplier, China (X tons), threefold. The third position in this ranking was held by Mexico (X tons), with a 15% share.

From 2012 to 2022, the average annual growth rate of volume from Colombia stood at -7.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+4.9% per year) and Mexico (+31.9% per year).

In value terms, Colombia ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Peru, comprising 40% of total imports. The second position in the ranking was taken by Mexico ($X), with an 18% share of total imports. It was followed by China, with a 17% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia totaled -9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+23.8% per year) and China (+4.2% per year).

Import Prices by Country

In 2022, the average import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, falling by -1.8% against the previous year. In general, the import price saw a pronounced decrease. The most prominent rate of growth was recorded in 2021 when the average import price increased by 7.2% against the previous year. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the countries with the highest prices were Mexico ($X per ton) and Argentina ($X per ton), while the price for Colombia ($X per ton) and Guatemala ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Argentina (+2.2%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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