Venezuela: Confectionery Market 2024

Confectionery Market Size in Venezuela

In 2022, the Venezuelan confectionery market increased by X% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 when the market value increased by X%. Confectionery consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Confectionery Production in Venezuela

In value terms, confectionery production dropped modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of X%. Over the period under review, production hit record highs at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Confectionery Exports

Exports from Venezuela

Confectionery exports from Venezuela fell to X tons in 2022, with a decrease of X% against 2021 figures. Over the period under review, exports, however, saw a significant increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2021, and then reduced in the following year.

In value terms, confectionery exports amounted to $X in 2022. In general, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

Exports by Country

The United States (X tons) was the main destination for confectionery exports from Venezuela, accounting for a X% share of total exports. Moreover, confectionery exports to the United States exceeded the volume sent to the second major destination, Canada (X tons), fivefold. The third position in this ranking was taken by Bolivia (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Bolivia (X% per year).

In value terms, the United States ($X) remains the key foreign market for confectionery exports from Venezuela, comprising X% of total exports. The second position in the ranking was taken by Canada ($X), with a X% share of total exports. It was followed by Chile, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Chile (X% per year).

Export Prices by Country

The average confectionery export price stood at $X per ton in 2022, growing by X% against the previous year. In general, the export price, however, showed a slight contraction. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average 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 Chile ($X per ton), while the average price for exports to Bolivia ($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 Chile (X%), while the prices for the other major destinations experienced a decline.

Confectionery Imports

Imports into Venezuela

In 2022, overseas purchases of confectionery increased by X% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports, however, saw a perceptible setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, confectionery imports surged to $X in 2022. In general, imports, however, saw a abrupt contraction. The pace of growth was the most pronounced in 2020 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Colombia (X tons) constituted the largest supplier of confectionery to Venezuela, with a X% share of total imports. Moreover, confectionery imports from Colombia exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was held by Brazil (X tons), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Colombia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Brazil (X% per year).

In value terms, Colombia ($X) constituted the largest supplier of confectionery to Venezuela, comprising X% of total imports. The second position in the ranking was held by Turkey ($X), with an X% share of total imports. It was followed by the United States, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Colombia amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and the United States (X% per year).

Import Prices by Country

The average confectionery import price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, the import price, however, continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2014 an increase of X%. The import price peaked at $X per ton in 2016; however, from 2017 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 the United States ($X per ton), while the price for Brazil ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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