Colombia Chocolate Market Report and Forecast 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