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

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

The Venezuelan market for chocolate bars with cereals, fruit or nuts declined to $X in 2022, falling by -3.2% against the previous year. Over the period under review, consumption recorded a perceptible decline. Over the period under review, the market reached the maximum level at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of chocolate bars with cereals, fruit or nuts shrank slightly to $X in 2022 estimated in export price. In general, production saw a pronounced contraction. The most prominent rate of growth was recorded in 2013 with an increase of 25%. Over the period under review, production of attained the maximum level at $X in 2014; however, from 2015 to 2022, production failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Venezuela

In 2022, after three years of growth, there was significant decline in shipments abroad of chocolate bars with cereals, fruit or nuts, when their volume decreased by -22.6% to X tons. Overall, exports, however, enjoyed a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of 417%. The exports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, exports of chocolate bars with cereals, fruit or nuts declined markedly to $X in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 with an increase of 543%. Over the period under review, the exports of attained the maximum at $X in 2021, and then shrank dramatically in the following year.

Exports by Country

Panama (X tons), Chile (X tons) and Spain (X tons) were the main destinations of exports of chocolate bars with cereals, fruit or nuts from Venezuela, together accounting for 95% of total exports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +88.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) remains the key foreign market for chocolate bars with cereals, fruit or nuts exports from Venezuela, comprising 75% of total exports. The second position in the ranking was held by Panama ($X), with a 9.7% share of total exports. It was followed by the United States, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to Chile stood at +84.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Panama (-5.2% per year) and the United States (+21.8% per year).

Export Prices by Country

The average export price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, picking up by 5.6% against the previous year. In general, the export price, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2013 an increase of 24%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Panama ($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 (+3.5%), while the prices for the other major destinations experienced a decline.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into Venezuela

In 2022, imports of chocolate bars with cereals, fruit or nuts into Venezuela soared to X tons, increasing by 16% against the previous year's figure. Overall, imports, however, showed a deep downturn. The pace of growth was the most pronounced in 2019 with an increase of 335%. Over the period under review, imports of reached the maximum at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. In general, imports, however, saw a abrupt decrease. The pace of growth was the most pronounced in 2019 with an increase of 242% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest cereal, fruit or nut chocolate bar supplier to Venezuela, with a 79% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from Turkey exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by Spain (X tons), with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Turkey stood at +43.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-21.5% per year) and Spain (+10.6% per year).

In value terms, Turkey ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to Venezuela, comprising 66% of total imports. The second position in the ranking was taken by the United States ($X), with an 8.3% share of total imports. It was followed by Spain, with a 5.7% share.

From 2012 to 2022, the average annual growth rate of value from Turkey stood at +42.1%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-23.4% per year) and Spain (+10.2% per year).

Import Prices by Country

The average import price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, surging by 22% against the previous year. In general, the import price, however, continues to indicate a perceptible descent. The pace of growth appeared the most rapid in 2018 when the average import price increased by 132%. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the average 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 Germany ($X per ton), while the price for Brazil ($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 (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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