Uruguay: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in Uruguay

The Uruguayan market for chocolate bars with cereals, fruit or nuts contracted slightly to $X in 2022, remaining relatively unchanged against the previous year. In general, consumption showed a perceptible decrease. As a result, consumption reached the peak level of $X. From 2016 to 2022, the growth of the market remained at a lower figure.

Production of Chocolate Bars with Cereals, Fruit or Nuts in Uruguay

In value terms, production of chocolate bars with cereals, fruit or nuts dropped to $X in 2022 estimated in export price. In general, production recorded a abrupt slump. The pace of growth appeared the most rapid in 2014 when the production volume increased by 20% against the previous year. Over the period under review, production of hit record highs at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Uruguay

In 2022, the amount of chocolate bars with cereals, fruit or nuts exported from Uruguay declined sharply to X kg, with a decrease of -95.1% compared with the previous year's figure. Over the period under review, exports saw a precipitous slump. The pace of growth was the most pronounced in 2020 with an increase of 351%. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports of remained at a lower figure.

In value terms, exports of chocolate bars with cereals, fruit or nuts contracted dramatically to $X in 2022. In general, exports saw a dramatic curtailment. The most prominent rate of growth was recorded in 2016 with an increase of 181%. Over the period under review, the exports of hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X kg) was the main destination for exports of chocolate bars with cereals, fruit or nuts from Uruguay, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to -2.5%.

In value terms, the United States ($X) emerged as the key foreign market for chocolate bars with cereals, fruit or nuts exports from Uruguay.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States amounted to -5.8%.

Export Prices by Country

The average export price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, almost unchanged from the previous year. In general, the export price continues to indicate a perceptible descent. The growth pace was the most rapid in 2019 an increase of 239% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United States.

From 2012 to 2022, the rate of growth in terms of prices for the United States amounted to -3.3% per year.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into Uruguay

In 2022, imports of chocolate bars with cereals, fruit or nuts into Uruguay contracted slightly to X tons, with a decrease of -2.7% on 2021. The total import volume increased at an average annual rate of +2.2% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 24% against the previous year. Imports peaked at X tons in 2021, and then shrank slightly in the following year.

In value terms, imports of chocolate bars with cereals, fruit or nuts reached $X in 2022. Overall, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 31% against the previous year. Imports peaked at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

Brazil (X tons), Argentina (X tons) and Belgium (X tons) were the main suppliers of imports of chocolate bars with cereals, fruit or nuts to Uruguay, with a combined 91% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Belgium (with a CAGR of +32.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Brazil ($X), Argentina ($X) and Belgium ($X) were the largest cereal, fruit or nut chocolate bar suppliers to Uruguay, with a combined 88% share of total imports.

Belgium, with a CAGR of +38.0%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, growing by 3.8% against the previous year. Overall, the import price, however, recorded a mild descent. The pace of growth was the most pronounced in 2015 when the average import price increased by 13% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the average import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Chile ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (+3.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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