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Colombia Chocolate Market Size, Share, Growth, Analysis: By Product Type: Dark Chocolate, Milk Chocolate, White Chocolate; By Category: Pure Chocolate, Compound Chocolate; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online, Others; Market Dynamics; Competitive Landscape; 2024-2032
Colombia Chocolate Market Outlook
The Colombia chocolate market size is projected to grow at a CAGR of 3.50% between 2024 and 2032.
Key Takeaways
- In 2022, Colombia imported $12.9 million worth of Cocoa Powder (a key component used in chocolate production), making it the 46th largest global importer. Cocoa Powder was the 506th most imported item in Colombia that year.
- In the year 2022, unfilled chocolate blocks/bars held the position of being the 1390th most imported commodity in Colombia. The primary sources of Colombia's imports for this product were the United States ($2.53M), Turkey ($591k), Germany ($369k), Poland ($582k), and China ($325k).
- In 2022, Colombia imported $12 million worth of filled Chocolate Blocks/Bars, ranking as the 70th biggest importer of this product globally. During that year, this category was also the 878th most imported product in Colombia.
According to the Food and Agriculture Organization (FAO) of the United Nations, Colombia emerged as the 11th largest cocoa bean producer in 2020, with a total output of 63,416 tonnes. Presently, approximately 176,000 hectares of land in 30 different regions are dedicated to cacao cultivation. However, Colombia possesses a vast potential for commercial cocoa production, with 12.8 million hectares of land suitable for this purpose. This abundance of suitable land has contributed to the growth of the market, as cocoa plays a vital role in chocolate production.
Nowadays, consumers are becoming more health-conscious and are actively seeking out chocolate options that align with their dietary preferences and wellness goals. As a result, the market is experiencing a growing demand for healthier chocolate alternatives. One of the key trends in this market is the preference for dark chocolate with a higher cocoa percentage. Dark chocolate is known for its rich flavour and potential health benefits, such as being a good source of antioxidants. Consumers are gravitating towards dark chocolate varieties that have a higher cocoa content, as it is believed to offer a more intense flavour and increased health benefits, consequently driving up the Colombia chocolate market share.
Another significant trend is the rise in demand for sugar-free or low-sugar chocolate options. With the increasing awareness of the negative effects of excessive sugar consumption on health, consumers are actively seeking out chocolate products that contain little to no added sugars. Moreover, veganism has become a mainstream lifestyle choice for many individuals, leading to a surge in the popularity of plant-based diets. This shift in consumer preferences has prompted chocolate manufacturers to develop innovative and delicious vegan alternatives that cater to this growing market, leading to the Colombia chocolate market development.
Market Segmentation
Colombia Chocolate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Product Type
- Dark Chocolate
- Milk Chocolate
- White Chocolate
Market Breakup by Category
- Pure Chocolate
- Compound Chocolate
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Competitive Landscape
The market participants are currently focusing on the production of vegan and sugar-free chocolate products to meet the dietary preferences of consumers.
- Nestlé S.A
- Ferrero International S.A.
- Hershey Co.
- CasaLuker S.A.
- Grupo Nutresa S.A.
- Produl SAS
- Nikadi
- F&M CHOCOLATES S.A.S
- Bean to Bar Colombia
- Fábrica de Chocolates Triunfo SA
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product Type |
|
| Breakup by Category |
|
| Breakup by Distribution Channel |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Market Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Latin America Chocolate Market Overview
8.1 Key Industry Highlights
8.2 Latin America Chocolate Historical Market (2018-2023)
8.3 Latin America Chocolate Market Forecast (2024-2032)
8.4 Latin America Chocolate Market Share by Country
8.4.1 Brazil
8.4.2 Mexico
8.4.3 Argentina
8.4.4 Colombia
8.4.5 Others
9 Colombia Chocolate Market Overview
9.1 Key Industry Highlights
9.2 Colombia Chocolate Historical Market (2018-2023)
9.3 Colombia Chocolate Market Forecast (2024-2032)
10 Colombia Chocolate Market by Product Type
10.1 Dark Chocolate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Milk Chocolate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 White Chocolate
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Colombia Chocolate Market by Category
11.1 Pure Chocolate
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Compound Chocolate
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Colombia Chocolate Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Market Dynamics
13.1 SWOT Analysis
13.1.1 Strengths
13.1.2 Weaknesses
13.1.3 Opportunities
13.1.4 Threats
13.2 Porter’s Five Forces Analysis
13.2.1 Supplier’s Power
13.2.2 Buyers Powers
13.2.3 Threat of New Entrants
13.2.4 Degree of Rivalry
13.2.5 Threat of Substitutes
13.3 Key Indicators for Demand
13.4 Key Indicators for Price
14 Value Chain Analysis
15 Trade Data Analysis (HS Code: 1806)
15.1 Major Importing Countries
15.1.1 By Volume
15.1.2 By Value
15.2 Major Exporting Countries
15.2.1 By Volume
15.2.2 By Value
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Nestlé S.A
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Ferrero International S.A.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Hershey Co.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 CasaLuker S.A.
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Grupo Nutresa S.A.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Produl SAS
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Nikadi
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 F&M CHOCOLATES S.A.S
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Bean to Bar Colombia
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Fábrica de Chocolates Triunfo SA
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Latin America Chocolate Market: Key Industry Highlights, 2018 and 2032
2. Colombia Chocolate Market: Key Industry Highlights, 2018 and 2032
3. Colombia Chocolate Historical Market: Breakup by Product Type (USD Million), 2018-2023
4. Colombia Chocolate Market Forecast: Breakup by Product Type (USD Million), 2024-2032
5. Colombia Chocolate Historical Market: Breakup by Category (USD Million), 2018-2023
6. Colombia Chocolate Market Forecast: Breakup by Category (USD Million), 2024-2032
7. Colombia Chocolate Historical Market: Breakup by Distribution Channel (USD Million), 2018-2023
8. Colombia Chocolate Market Forecast: Breakup by Distribution Channel (USD Million), 2024-2032
9. Major Importing Countries by Volume
10. Major Exporting Countries by Volume
11. Major Importing Countries by Value
12. Major Exporting Countries by Value
13. Colombia Chocolate Market Structure
Key Questions Answered in the Report
The market is estimated to grow at a CAGR of 3.50% between 2024 and 2032.
The market is driven by the rise in chocolate consumption, the implementation of sustainable practices in chocolate farming, and the expansion of chocolate shop establishments.
The chocolate market is witnessing significant trends, including the growth of the e-commerce platform and a rising consciousness regarding the advantages of consuming chocolate.
The major product types in the market are dark chocolate, milk chocolate, and white chocolate.
The major applications of distribution channels in the market are supermarkets and hypermarkets, convenience stores, and online, among others.
The major players in the market are Nestlé S.A, Ferrero International S.A., Hershey Co., CasaLuker S.A., Grupo Nutresa S.A., Produl SAS, Nikadi, F&M CHOCOLATES S.A.S, Bean to Bar Colombia, Fábrica de Chocolates Triunfo SA, and others.
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