Chocolate and cocoa products market in Colombia

Earlier Report Observations

The Colombian chocolate and cocoa products market expanded between 2018 and 2019, reaching a volume of 33 946 t, driven by growing consumer interest in premium dark chocolate with perceived health benefits, which spurred product innovation. The industry was concentrated in key regions with hundreds of processing plants, contributing significantly to GDP.

A sharp contraction followed, with market volume falling to 18 493 t in 2020 and 14 588 t in 2021. During this period, the identification of cadmium contamination as a threat to the cocoa supply chain limited international market access and reduced the value of Colombian cocoa, affecting production. New technical standards for the cocoa chain were approved to facilitate commercialization and exports, aligning with international requirements. In 2021, the ratification of the International Cocoa Convention formalized Colombia's participation in the global market, focusing on trade and quality.

The market decline continued, dropping to 10 672 t by 2023. Government initiatives like 'Paisana', launched in 2022, aimed to connect producers from remote areas with large domestic markets, while the creation of 200 new companies producing cocoa derivatives increased the number of market players. However, strong export growth, which rose 26.3% in 2022, diverted production away from the domestic market, reducing available supply. Stricter nutritional labeling regulations introduced via Resolution 810 of 2021 and its 2022 amendment also required industry adaptation, influencing market dynamics.

Production chocolate and cocoa products in Colombia

In kind, 2017-2020, t

From 2017 to 2020, Colombia ranked 15th globally in the production of chocolate and cocoa products.

Top producers of chocolate and cocoa products, 2017-2020

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

Colombia's production of chocolate and cocoa products saw a two-year increase before declining. In 2020, the country produced 21 771 tonnes, marking a 41.4% drop from the previous year. Over the 2017-2020 period, production fell by 32.5%, with a compound annual growth rate of -12.3%. The peak was in 2019 at 37 131 tonnes, while the largest increase occurred in 2018 at 9.4%.

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

In value, 2017-2020, M $ US

Colombia's chocolate and cocoa products production declined for the second year in a row. In 2020, the output was valued at 81.0 million US dollars, down 43.6% from the prior year. From 2017 to 2020, production decreased by 35.9%, with a compound annual growth rate of -13.8%. The highest value was recorded in 2018 at 145.9 million US dollars, which also saw the largest increase of 15.5%.

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

Exports chocolate and cocoa products from Colombia

Exports in kind, t

Colombia's exports of chocolate and cocoa products fell for the second consecutive year. In 2020, the country exported 13 077 tonnes, a modest decline of 6.2% compared to 2019. Between 2017 and 2020, exports dropped by 10.3%, translating to an annualized rate of -3.6%. The maximum volume was in 2018 at 14 801 tonnes, with the largest increase that year at 1.5%.

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

From 2017 to 2020, Colombia's export destinations for chocolate and cocoa products in kind were diverse. Ecuador accounted for 21.6% of exports, the United States for 19.3%, and South Africa for 8.1%, together making up 49.0% of total flows. The remaining 51.0% went to numerous other countries.

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

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

Exports in value, K $ US

Colombia's chocolate and cocoa products exports in value terms declined for the second year in a row. In 2020, exports amounted to 48 650 thousand US dollars, a gradual decrease of 9.7% from 2019. Over the 2017-2020 period, exports fell by 14.8%, with an annualized rate of -5.2%. The peak was in 2018 at 61 176 thousand US dollars, which also saw the largest increase of 7.2%. The largest decline occurred in 2019 at 11.9%.

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

Between 2017 and 2020, the main markets for Colombia's chocolate and cocoa products exports in value terms were Ecuador with 22.5%, the United States with 22.0%, and Chile with 6.0%. Together, these three countries represented 50.4% of total export flows.

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

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

Imports chocolate and cocoa products to Colombia

Imports in kind, t

Colombia's imports of chocolate and cocoa products in kind increased for two years before declining. In 2020, imports totaled 9 800 tonnes, a slight reduction of 8.9% from the previous year. Over the 2017-2020 period, imports rose by 24%, with a compound annual growth rate of 7.4%. The highest volume was in 2019 at 10 752 tonnes, while the largest increase was in 2018 at 23.1%.

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

From 2017 to 2020, the United States was the leading source for Colombia's chocolate and cocoa products imports in kind, accounting for 36.8%. Turkey followed with 13.4%, and Germany with 12.2%. Together, these three countries made up 62.4% of total import flows.

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

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

Imports in value, K $ US

Colombia's imports of chocolate and cocoa products in value terms rose for two years before falling. In 2020, imports amounted to 47 839 thousand US dollars, down 8.2% from the prior year. Between 2017 and 2020, imports increased by 12.2%, equating to an annualized rate of 3.9%. The peak was in 2019 at 52 134 thousand US dollars, with the largest increase in 2018 at 18.7%.

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

Over the 2017-2020 period, the United States dominated Colombia's chocolate and cocoa products imports in value terms, representing 35.1%. Brazil contributed 10.3%, and Argentina 8.7%. Combined, these three countries accounted for 54.1% of total import flows.

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

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