MERCOSUR: Chocolate Market 2024

Chocolate Market Size in MERCOSUR

The MERCOSUR chocolate market stood at $X in 2023, leveling off at the previous year. Over the period under review, consumption showed 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 MERCOSUR

In value terms, chocolate production amounted to $X in 2023 estimated in export price. Overall, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced 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 somewhat lower figure.

Chocolate Exports

Exports in MERCOSUR

In 2023, shipments abroad of chocolate and cocoa products increased by X% to X tons, rising for the third year in a row after two years of decline. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, chocolate exports rose to $X in 2023. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2022 with an increase of X%. Over the period under review, the exports attained the maximum at $X in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

Exports by Country

Brazil was the key exporter of chocolate and cocoa products in MERCOSUR, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2023. Colombia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Argentina (X%), Peru (X%) and Chile (X%). Ecuador (X tons) took a little share of total exports.

Exports from Brazil increased at an average annual rate of X% from 2012 to 2023. At the same time, Peru (X%), Colombia (X%) and Ecuador (X%) displayed positive paces of growth. Moreover, Peru emerged as the fastest-growing exporter exported in MERCOSUR, with a CAGR of X% from 2012-2023. By contrast, Chile (X%) and Argentina (X%) illustrated a downward trend over the same period. While the share of Brazil (X p.p.), Peru (X p.p.) and Colombia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Chile (X p.p.) and Argentina (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Brazil ($X) remains the largest chocolate supplier in MERCOSUR, comprising X% of total exports. The second position in the ranking was taken by Argentina ($X), with a X% share of total exports. It was followed by Colombia, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Brazil totaled X%. In the other countries, the average annual rates were as follows: Argentina (X% per year) and Colombia (X% per year).

Export Prices by Country

In 2023, the export price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ecuador ($X per ton), while Colombia ($X per ton) was amongst the lowest.

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

Chocolate Imports

Imports in MERCOSUR

In 2023, the amount of chocolate and cocoa products imported in MERCOSUR shrank to X tons, with a decrease of X% on the previous year. The total import volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2022 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, chocolate imports expanded notably 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 in certain years. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2023 and are likely to see steady growth in the immediate term.

Imports by Country

Chile (X tons) and Brazil (X tons) represented the main importers of chocolate and cocoa products in 2023, reaching near X% and X% of total imports, respectively. It was distantly followed by Venezuela (X tons), Colombia (X tons), Argentina (X tons), Ecuador (X tons), Peru (X tons), Paraguay (X tons) and Uruguay (X tons), together achieving a X% share of total imports.

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

In value terms, Brazil ($X), Chile ($X) and Colombia ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Argentina, Peru, Ecuador, Paraguay, Venezuela and Uruguay lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Peru, with a CAGR of X%, recorded 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 import price in MERCOSUR amounted to $X per ton, growing by X% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Brazil ($X per ton), while Venezuela ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform