Brazil: Chocolate Market 2024

Chocolate Market Size in Brazil

The Brazilian chocolate market expanded modestly to $X in 2023, growing by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2015 to 2023, the growth of the market remained at a lower figure.

Chocolate Production in Brazil

In value terms, chocolate production totaled $X in 2023 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Chocolate Exports

Exports from Brazil

In 2023, chocolate exports from Brazil expanded rapidly to X tons, with an increase of X% against 2022. In general, total exports indicated a pronounced expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The exports peaked in 2023 and are likely to see gradual growth in the immediate term.

In value terms, chocolate exports skyrocketed to $X in 2023. Overall, total exports indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked in 2023 and are expected to retain growth in the immediate term.

Exports by Country

Argentina (X tons), Paraguay (X tons) and Saudi Arabia (X tons) were the main destinations of chocolate exports from Brazil, with a combined X% share of total exports.

From 2012 to 2023, the biggest increases were recorded for Saudi Arabia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X) remains the key foreign market for chocolate and cocoa products exports from Brazil, comprising X% of total exports. The second position in the ranking was held by Paraguay ($X), with an X% share of total exports. It was followed by Uruguay, with an X% share.

From 2012 to 2023, the average annual growth rate of value to Argentina stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Paraguay (X% per year) and Uruguay (X% per year).

Export Prices by Country

In 2023, the average chocolate export price amounted to $X per ton, increasing by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was Colombia ($X per ton), while the average price for exports to Venezuela ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Bolivia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Brazil

In 2023, chocolate imports into Brazil soared to X tons, increasing by X% compared with 2022. Over the period under review, total imports indicated a slight expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. Imports peaked at X tons in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

In value terms, chocolate imports skyrocketed to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2017 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Argentina (X tons), Germany (X tons) and Switzerland (X tons) were the main suppliers of chocolate imports to Brazil, together accounting for X% of total imports. Belgium, Italy, India, Poland, France, Turkey, the United States, Mexico and Ecuador lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Argentina ($X), Switzerland ($X) and Germany ($X) were the largest chocolate suppliers to Brazil, together accounting for X% of total imports. Belgium, India, Italy, Poland, France, the United States, Turkey, Mexico and Ecuador lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, India, with a CAGR of X%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2023, the average chocolate import price amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The import price peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform