Chocolate Market in South America by Product and Geography - Forecast and Analysis 2022-2026

Published: Feb 2022 Pages: 120 SKU: IRTNTR72270

The chocolate market share in South America is expected to increase by USD 4.11 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.24%.

This chocolate market in South America research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the chocolate market in South America segmentation by product (dark chocolate and milk and white chocolate) and geography (Brazil, Chile, and the Rest of South America). The chocolate market in South America report also offers information on several market vendors, including Arcor Group, Colombina SA, Dori Alimentos SA, Empresas Carozzi SA, Ferrero International SA, Lindt and Sprungli (USA) Inc., Mars Inc., Mondelez International Inc., Nestle SA, and The Hershey Co. among others.

What will the Chocolate Market Size in South America be During the Forecast Period?

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Chocolate Market in South America: Key Drivers, Trends, and Challenges

The rising awareness regarding health benefits offered by chocolate is notably driving the chocolate market growth in South America, although factors such as growing health concerns about diabetes and obesity may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the chocolate industry in South America. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Chocolate Market Driver in South America 

One of the key factors driving the chocolate market growth in South America is the rising awareness regarding health benefits offered by chocolate. Dark chocolate contains a large proportion of cocoa and is especially recommended to prevent or slow down aging and certain diseases, such as cardiovascular diseases (CVDs). In addition, antioxidant-enrichment, blood pressure-suppressing character, and assumed anti-aging properties of chocolate will remain the key factors propelling the adoption of chocolate and chocolate products. A few recent research findings indicate that chocolate consumption aids in looking younger and relieves stress, which is expected to push the demand for chocolate in the market in focus during the forecast period.

Key Chocolate Market Trend in South America

Another key factor driving the chocolate market growth in South America is the impulse purchasing behavior of consumers. Confectionery items displayed at prominent places such as shops and supermarkets can attract buyers' attention and cause them to indulge in impulse purchases. Moreover, besides attractive display mechanisms adopted by stores, the rise in disposable income of consumers, and change in lifestyles are the key factors driving such impulsive purchases. The color and packaging of chocolate have played an important role in their purchase in the recent past. Manufacturers have invested majorly into product designing, labeling, pricing, and packaging after witnessing the change in product perception. For instance, purple was ranked as the most influential color in chocolate packaging, followed by red and blue color packages. Thus, such impulsive behavior would further drive the demand for chocolate in South America during the forecast period.

Key Chocolate Market Challenge in South America

One of the key challenges to the chocolate market growth in South America is the growing health concerns about diabetes and obesity. Chocolate is widely perceived to cause ailments and diseases such as migraines, acne, obesity, tooth cavities, and others. Some common risks of regular consumption of chocolate include dental health risks, migraine risks, and others. In addition, refined carbohydrates in chocolates can cause spikes in blood sugar, making the body resistant to insulin over time and may lead to type 2 diabetes. Chocolates, especially milk chocolates, contain high amounts of saturated fat and calories. These fats elevate blood cholesterol, which increases the risk of heart diseases and strokes. As per the American Heart Association, the added sugar in chocolates has no nutritional value. Instead, the high-calorie count due to high sugar and fat content can cause weight gain and heart diseases. Such factors are expected to limit the market growth during the forecast period.

This chocolate market in South America analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the chocolate market in South America as a part of the global packaged foods and meats market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the chocolate market in South America during the forecast period.

Who are the Major Chocolate Market Vendors in South America?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Arcor Group
  • Colombina SA
  • Dori Alimentos SA
  • Empresas Carozzi SA
  • Ferrero International SA
  • Lindt and Sprungli (USA) Inc.
  • Mars Inc.
  • Mondelez International Inc.
  • Nestle SA
  • The Hershey Co.

This statistical study of the chocolate market in South America encompasses successful business strategies deployed by the key vendors. The chocolate market in South America is fragmented and the vendors are deploying growth strategies such as an increase in product or service extensions and M&A to compete in the market.

Product Insights and News

  • Arcor Group -The company offers chocolate product brands such as AGUILA, COFLER, and RUMBA.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The chocolate market in South America forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Chocolate Market in South America Value Chain Analysis

Our report provides extensive information on the value chain analysis for the chocolate market in South America, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The value chain of the global packaged foods and meats market includes the following core components:

  • Inputs
  • Inbound logistics
  • Primary processing
  • Secondary and tertiary processing
  • Outbound logistics
  • End-customers
  • Marketing and sales
  • Service
  • Innovation

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Chocolate Market in South America?

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53% of the market's growth will originate from the Rest of South America during the forecast period. However, market growth in the Rest of South America will be slower than the growth of the market in Chile and Brazil.

This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Chocolate Market in South America?

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The chocolate market share growth in South America by the dark chocolate segment will be significant during the forecast period. The growth is attributed to the significant increase in the demand for dark chocolates as they are rich in fiber, antioxidants, iron, and magnesium, and also help to improve cardiovascular health, cognitive functions, and blood flow.

This report provides an accurate prediction of the contribution of all the segments to the growth of the chocolate market size in South America and actionable market insights on post COVID-19 impact on each segment.

You may be interested in:

Organic Chocolate market - The market share is expected to rise to USD 137.54 million by 2026, and the market's growth momentum will accelerate at a CAGR of 2.71%.

Truffle Chocolate market - The market share is expected to increase by USD 1.22 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.17%.

Chocolate Market Scope in South America

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.24%

Market growth 2022-2026

$ 4.11 billion

Market structure

Fragmented

YoY growth (%)

4.60

Regional analysis

South America

Performing market contribution

Rest of South America at 53%

Key consumer countries

 Brazil, Chile, and the Rest of South America

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Arcor Group, Colombina SA, Dori Alimentos SA, Empresas Carozzi SA, Ferrero International SA, Lindt and Sprungli (USA) Inc., Mars Inc., Mondelez International Inc., Nestle SA, and The Hershey Co.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Chocolate Market in South America Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive chocolate market growth in South America during the next five years
  • Precise estimation of the chocolate market size in South America and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the chocolate industry in South America  
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of chocolate market vendors in South America 

We can help! Our analysts can customize this report to meet your requirements. Get in touch

***1. Executive Summary                         

               **1.1 Market Overview 

                              *Exhibit 01:  Key Finding 1

                              *Exhibit 02:  Key finding 2

                              *Exhibit 03:  Key finding 3

                              *Exhibit 04:  Key finding 5

                              *Exhibit 05:  Key finding 6

                              *Exhibit 06:  Key finding 7

***2. Market Landscape                            

               **2.1 Market ecosystem             

                              *Exhibit 07:  Parent market

                              *Exhibit 08:  Market characteristics

               **2.2 Value chain analysis           

                              *2.2.1 Inputs

                              *2.2.2 Inbound logistics

                              *2.2.3 Primary processing

                              *2.2.4 Secondary and tertiary processing

                              *2.2.6 End-customers

                              *2.2.7 Marketing and sales

                              *2.2.8 Services

***3. Market Sizing                      

               **3.1 Market definition

                              *Exhibit 09:  Offerings of vendors included in the market definition

               **3.2 Market segment analysis  

                              *Exhibit 10:  Market segments

               **3.3 Market size 2021 

               **3.4 Market outlook: Forecast for 2021 - 2026 

                              *3.4.1 Estimating growth rates for emerging and high-growth markets

                              *3.4.2 Estimating growth rates for mature markets

                              *Exhibit 11:  South America - Market size and forecast 2021 - 2026 ($ billion)

                              *Exhibit 12:  South America market: Year-over-year growth 2021 - 2026 (%)

***4. Five Forces Analysis                         

               **4.1 Five Forces Summary         

                              *Exhibit 13:  Five forces analysis 2021 & 2026

               **4.2 Bargaining power of buyers            

                              *Exhibit 14:  Bargaining power of buyers

               **4.3 Bargaining power of suppliers        

                              *Exhibit 15: Bargaining power of suppliers

               **4.4 Threat of new entrants     

                              *Exhibit 16:  Threat of new entrants

               **4.5 Threat of substitutes          

                              *Exhibit 17: Threat of substitutes

               **4.6 Threat of rivalry   

                              *Exhibit 18: Threat of rivalry

               **4.7 Market condition 

                              *Exhibit 19:  Market condition - Five forces 2021

***5. Market Segmentation by Product              

               **5.1 Market segments

                              *The segments covered in this chapter are:

  • *Dark chocolate
  • *Milk and white chocolate

                              *Exhibit 20:  Product - Market share 2021-2026 (%)

               **5.2 Comparison by Product    

                              *Exhibit 21:  Comparison by Product

               **5.3 Dark chocolate - Market size and forecast 2021-2026          

                              *Exhibit 22:  Dark chocolate - Market size and forecast 2021-2026 ($ billion)

                              *Exhibit 23:  Dark chocolate - Year-over-year growth 2021-2026 (%)

               **5.4 Milk and white chocolate - Market size and forecast 2021-2026      

                              *Exhibit 24:  Milk and white chocolate - Market size and forecast 2021-2026 ($ billion)

                              *Exhibit 25:  Milk and white chocolate - Year-over-year growth 2021-2026 (%)

               **5.5 Market opportunity by Product     

                              *Exhibit 26:  Market opportunity by Product

***6. Customer landscape                        

                              *Technavio’s customer landscape matrix comparing Drivers or price sensitivity, Adoption lifecycle, importance in customer price basket, Adoption rate and Key purchase criteria

               **6.1 Overview

                              *Exhibit 28:  Customer landscape

***7. Geographic Landscape                    

               **7.1 Geographic segmentation

                              *The regions covered in the report are:

  • *Brazil
  • *Chile
  • *Rest of South America

                              *Exhibit 28:  Market share by geography 2021-2026 (%)

               **7.2 Geographic comparison    

                              *Exhibit 29:  Geographic comparison

               **7.3 Brazil - Market size and forecast 2021-2026             

                              *Exhibit 30:  Brazil - Market size and forecast 2021-2026 ($ billion)

                              *Exhibit 31:  Brazil - Year-over-year growth 2021-2026 (%)

               **7.4 Chile - Market size and forecast 2021-2026             

                              *Exhibit 32:  Chile - Market size and forecast 2021-2026 ($ billion)

                              *Exhibit 33:  Chile - Year-over-year growth 2021-2026 (%)

               **7.5 Rest of South America - Market size and forecast 2021-2026           

                              *Exhibit 34:  Rest of South America - Market size and forecast 2021-2026 ($ billion)

                              *Exhibit 35:  Rest of South America - Year-over-year growth 2021-2026 (%)

               **7.6 Market opportunity by geography

                              *Exhibit 36:  Market opportunity by geography ($ billion)

***8. Drivers, Challenges, and Trends                  

               **8.1 Market drivers      

                              *8.1.1 Rising awareness regarding health benefits offered by chocolate

                              *8.1.2 Increasing marketing activities

                              *8.1.3 Growing demand for customized chocolate

               **8.2 Market challenges              

                              *8.2.1 Growing health concerns about diabetes and obesity

                              *8.2.2 Shortage of vanilla

                              *8.2.3 Price fluctuation of raw materials

                              *Exhibit 37:  Impact of drivers and challenges

               **8.3 Market trends      

                              *8.3.1 The impulse purchasing behavior of consumers

                              *8.3.2 Increasing number of M&A

                              *8.3.3 Rising demand for premium chocolate

                              *8.3.4 Introduction of organic, vegan, and sugar and gluten-free chocolate

***9. Vendor Landscape                            

               **9.1 Overview

                              *Exhibit 38:  Vendor landscape

               **9.2 Landscape disruption         

                              *Exhibit 39:  Landscape disruption

                              *Exhibit 40:  Industry risks

***10. Vendor Analysis               

               **10.1 Vendors covered              

                              *Exhibit 41:  Vendors covered

               **10.2 Market positioning of vendors    

                              *Exhibit 42: Market positioning of vendors

               **10.3 Arcor Group        

                              *Exhibit 43:  Arcor Group - Overview

                              *Exhibit 44:  Arcor Group - Business segments

                              *Exhibit 45:  Arcor Group - Key offerings

                              *Exhibit 46:  Arcor Group - Segment focus

               **10.4 Colombina SA     

                              *Exhibit 47:  Colombina SA - Overview

                              *Exhibit 48:  Colombina SA - Business segments

                              *Exhibit 49:  Colombina SA - Key offerings

                              *Exhibit 50:  Colombina SA - Segment focus

               **10.5 Dori Alimentos SA            

                              *Exhibit 51:  Dori Alimentos SA - Overview

                              *Exhibit 52:  Dori Alimentos SA - Product and service

                              *Exhibit 53:  Dori Alimentos SA - Key offerings

               **10.6 Empresas Carozzi SA       

                              *Exhibit 54:  Empresas Carozzi SA - Overview

                              *Exhibit 55:  Empresas Carozzi SA - Business segments

                              *Exhibit 56:  Empresas Carozzi SA - Key offerings

                              *Exhibit 57:  Empresas Carozzi SA - Segment focus

               **10.7 Ferrero International SA 

                              *Exhibit 58:  Ferrero International SA - Overview

                              *Exhibit 59:  Ferrero International SA - Product and service

                              *Exhibit 60:  Ferrero International SA-Key news

                              *Exhibit 61:  Ferrero International SA - Key offerings

               **10.8 Lindt and Sprungli (USA) Inc.       

                              *Exhibit 62:  Lindt and Sprungli (USA) Inc. - Overview

                              *Exhibit 63:  Lindt and Sprungli (USA) Inc. - Business segments

                              *Exhibit 64:  Lindt and Sprungli (USA) Inc. - Key offerings

                              *Exhibit 65:  Lindt and Sprungli (USA) Inc. - Segment focus

               **10.9 Mars Inc.

                              *Exhibit 66:  Mars Inc. - Overview

                              *Exhibit 67:  Mars Inc. - Product and service

                              *Exhibit 68:  Mars Inc. - Key offerings

               **10.10 Mondelez International Inc.      

                              *Exhibit 69:  Mondelez International Inc. - Overview

                              *Exhibit 70:  Mondelez International Inc. - Business segments

                              *Exhibit 71:  Mondelez International Inc.- Key news

                              *Exhibit 72:  Mondelez International Inc. - Key offerings

                              *Exhibit 73:  Mondelez International Inc. - Segment focus

               **10.11 Nestle SA           

                              *Exhibit 74:  Nestle SA - Overview

                              *Exhibit 75:  Nestle SA - Business segments

                              *Exhibit 76:  Nestle SA- Key news

                              *Exhibit 77:  Nestle SA - Key offerings

                              *Exhibit 78:  Nestle SA - Segment focus

               **10.12 The Hershey Co.            

                              *Exhibit 79:  The Hershey Co. - Overview

                              *Exhibit 80:  The Hershey Co. - Business segments

                              *Exhibit 81:  The Hershey Co. - Key news

                              *Exhibit 82:  The Hershey Co. - Key offerings

                              *Exhibit 83:  The Hershey Co. - Segment focus

***11. Appendix                           

               **11.1 Scope of the report         

                              *11.1.1 Market definition

                              *11.1.2 Objectives

                              *11.1.3 Notes and caveats

               **11.2 Currency conversion rates for US$            

                              *Exhibit 84:  Currency conversion rates for US$

               **11.3 Research Methodology   

                              *Exhibit 85:  Research Methodology

                              *Exhibit 86:  Validation techniques employed for market sizing

                              *Exhibit 87:  Information sources

               **11.4 List of abbreviations        

                              *Exhibit 88:  List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

INFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases

DATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts

REPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape

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Key Questions Answered

  • What are the key global market and the regional market share?
  • What are the revenue-generating key market segments?
  • What are the key factors driving and challenging this market’s growth?
  • Who are the key market vendors and their growth strategies?
  • What are the latest trends influencing the growth of this market?
  • What are the variables influencing the market growth in the primary regions?
  • What are the factors influencing the growth of the parent market?

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