Venezuela: Chocolate Market 2024

Chocolate Market Size in Venezuela

The Venezuelan chocolate market declined modestly to $X in 2022, which is down by X% against the previous year. In general, consumption recorded a perceptible decrease. The most prominent rate of growth was recorded in 2021 when the market value increased by X% against the previous year. Chocolate consumption peaked at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Venezuela

In value terms, chocolate production declined modestly to $X in 2022 estimated in export price. Overall, production continues to indicate a pronounced decrease. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Chocolate Exports

Exports from Venezuela

In 2022, overseas shipments of chocolate and cocoa products decreased by X% to X tons for the first time since 2016, thus ending a five-year rising trend. In general, exports, however, recorded a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons, and then shrank notably in the following year.

In value terms, chocolate exports shrank notably to $X in 2022. Over the period under review, exports, however, enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of $X, and then contracted rapidly in the following year.

Exports by Country

The United States (X tons) was the main destination for chocolate exports from Venezuela, accounting for a X% share of total exports. Moreover, chocolate exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), more than tenfold. Panama (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) emerged as the key foreign market for chocolate and cocoa products exports from Venezuela, comprising X% of total exports. The second position in the ranking was taken by Chile ($X), with a X% share of total exports. It was followed by Peru, with a X% share.

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

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price recorded a pronounced downturn. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the average export prices attained the maximum 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 Chile ($X per ton), while the average price for exports to Panama ($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 Ecuador (X%), while the prices for the other major destinations experienced mixed trend patterns.

Chocolate Imports

Imports into Venezuela

In 2022, purchases abroad of chocolate and cocoa products decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a noticeable downturn. The growth pace was the most rapid in 2020 when imports increased by X% against the previous year. Imports peaked at X tons in 2021, and then fell sharply in the following year.

In value terms, chocolate imports reduced notably to $X in 2022. Over the period under review, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X tons) constituted the largest supplier of chocolate to Venezuela, accounting for a X% share of total imports. Moreover, chocolate imports from Turkey exceeded the figures recorded by the second-largest supplier, Colombia (X tons), twofold. 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 Turkey amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Colombia (X% per year) and Brazil (X% per year).

In value terms, the largest chocolate suppliers to Venezuela were Turkey ($X), Colombia ($X) and the United States ($X), together comprising X% of total imports.

Turkey, with a CAGR of X%, 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 a decline.

Import Prices by Country

The average chocolate import price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price, however, recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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