Chocolate and cocoa products market in Argentina

Earlier Report Observations

From 2018 to 2019, the chocolate market in Argentina faced high inflation and exchange rate volatility, which increased raw material costs and final prices, leading to a drop in market volume to 20 795 tons in 2019. However, in 2020, the COVID-19 pandemic altered consumer behavior, boosting demand for chocolate as a home-consumption product and stimulating the growth of artisanal and high-quality chocolate production, which helped restore market volume to 23 965 tons.

Starting in 2021, the Front-of-Pack Labeling Law (Law 27.642) began to influence the market, requiring manufacturers and importers to warn consumers about excess sugar, fats, and calories with black octagons on packaging. Preparations for the law's enforcement in 2022 drove a significant market volume increase to 30 582 tons in 2021, as companies reformulated products and launched new lines. In 2022, after mandatory labeling took effect, market volume temporarily declined to 27 987 tons as consumers became more cautious, but market value rose due to a shift toward premium segments and sugar-free products.

By 2023, the market continued to grow, reaching 29 014 tons in volume and 210.8 million USD in value, fueled by the active launch of healthy and premium lines by companies such as Mondelez, Nestlé, and Puratos, along with the expansion of e-commerce. In 2024, regulatory adjustments, including simplified labeling procedures and new nutrient calculation rules, further encouraged packaging innovations and convenient formats, reinforcing the trend toward transparency and sustainability.

Production chocolate and cocoa products in Argentina

In kind, 2017-2020, t

Between 2017 and 2020, Argentina ranked as the 19th largest producer of chocolate and cocoa products globally.

Top producers of chocolate and cocoa products, 2017-2020

World map of production of chocolate and cocoa products, 2017-2020

In 2020, Argentina produced 25 261 tonnes of chocolate and cocoa products, marking an 8.4% increase from 2019. Over the 2017-2020 period, production grew by 3.2%, with a compound annual growth rate (CAGR) of 1.1%. The lowest production level was recorded in 2019 at 23 314 tonnes, which also saw the largest decline of 6.2%.

Annual dynamics of production in Argentina in kind, 2017-2020, t

In value, 2017-2020, M $ US

Argentina's chocolate and cocoa products production value declined for the second year in a row. In 2020, output was valued at 179.0 million US dollars, reflecting a modest 6.5% decrease compared to the previous year. From 2017 to 2020, production value increased by 4.9%, equating to an annualized growth rate of 1.6%. The peak value occurred in 2018 at 218.1 million US dollars, which also saw the largest increase of 27.8%. The most significant decline was recorded in 2019 at 12.2%.

Annual dynamics of production in Argentina in value, 2017-2020, M $ US

Exports chocolate and cocoa products from Argentina

Exports in kind, t

Argentina's exports of chocolate and cocoa products declined for the third consecutive year. In 2020, the country exported 8 160 tonnes, representing a substantial 19.5% drop from 2019. Over the 2017-2020 period, exports decreased by 43.5%, with a compound annual decline rate of 17.3%.

Annual dynamics of product's exports from Argentina in kind, 2017-2020, t

From 2017 to 2020, Brazil, Uruguay, and Chile were the leading destinations for Argentina's chocolate and cocoa product exports by volume. Brazil accounted for 30.0% of exports, Uruguay for 17.6%, and Chile for 14.3%. Together, these three countries represented 61.9% of total export flows.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Argentina in kind, 2017-2020

Exports in value, M $ US

Argentina's chocolate and cocoa product exports by value declined for the third year in a row. In 2020, exports reached 57.8 million US dollars, marking a significant 30.5% decrease from the previous year. Between 2017 and 2020, export value fell by 42.5%, with a compound annual decline rate of 16.9%.

Annual dynamics of product's exports from Argentina in value, 2017-2020, M $ US

During the 2017-2020 period, Brazil, Uruguay, and Australia were the key partners for Argentina's chocolate and cocoa product exports by value. Brazil accounted for 51.1% of exports, Uruguay for 10.4%, and Australia for 6.4%. Collectively, these three countries represented 67.9% of total export value.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Argentina in value, 2017-2020

Imports chocolate and cocoa products to Argentina

Imports in kind, t

Argentina's imports of chocolate and cocoa products by volume declined for the second consecutive year. In 2020, import volume stood at 6 864 tonnes, showing a moderate 9.9% decrease from 2019. Over the 2017-2020 period, imports decreased by 14.7%, with a compound annual decline rate of 5.2%. The highest import volume was recorded in 2018 at 9 363 tonnes, which also saw the largest increase of 16.4%. The most significant decline occurred in 2019 at 18.6%.

Annual dynamics of product's imports to Argentina in kind, 2017-2020, t

From 2017 to 2020, Brazil, Germany, and the United States were the primary suppliers of chocolate and cocoa products to Argentina by volume. Brazil accounted for 68.7% of imports, Germany for 5.0%, and the United States for 3.8%. Together, these three countries supplied 77.5% of total import volume.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Argentina in kind, 2017-2020

Imports in value, M $ US

Argentina's imports of chocolate and cocoa products by value declined for the second year in a row. In 2020, imports totaled 36.6 million US dollars, down by 15.4% compared to the previous year. Between 2017 and 2020, import value decreased by 25.8%, equating to an annualized decline rate of 9.5%. The peak value was recorded in 2018 at 60.3 million US dollars, which also saw the largest increase of 22.3%. The most significant decline occurred in 2019 at 28.3%.

Annual dynamics of product's imports to Argentina in value, 2017-2020, M $ US

Over the 2017-2020 period, Brazil, Ecuador, and Germany were the main sources of chocolate and cocoa product imports to Argentina by value. Brazil accounted for 60.8% of imports, Ecuador for 10.8%, and Germany for 4.6%. Collectively, these three countries represented 76.2% of total import value.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Argentina in value, 2017-2020