Cocoa powder and cake market in Peru

Earlier Report Observations

The Peruvian cocoa powder and cake market volume grew from 24,258 t in 2018 to a peak of 32,578 t in 2021. This expansion was supported by the introduction of Peruvian Technical Standards (NTP), including NTP-CODEX STAN 105:2018 for cocoa powder, which promoted product quality and manufacturing practices. A ban on misleading terms like 'choc' or 'late' for cocoa products in 2020 further strengthened consumer transparency and demand for compliant goods.

Market volume stabilized in 2021 as external demand for processed cocoa products served as a primary growth driver for the industry, channeling output toward exports. The subsequent decline to 29,071 t in 2022 occurred alongside the implementation of the EU's anti-deforestation regulation (EUDR), which required cocoa producers to register in a georeferenced system, and ongoing adjustments to new sanitary warning labels on packaging that affected product presentation and market access.

By 2023, market volume settled at 28,135 t while export values reached record levels, boosted by high international cocoa prices and global demand for cardiovascular-health-friendly cocoa. Regulatory updates continued, including modifications to advertising warning manuals for processed foods and debates within the artisanal sector over mandatory origin labeling, introducing further evolution in the market's operating environment.

Production cocoa powder and cake in Peru

In kind, 2017-2020, t

On a global scale, Peru ranked as the 17th largest producer of cocoa powder and cake between 2017 and 2020.

Top producers of cocoa powder and cake, 2017-2020

World map of production of cocoa powder and cake, 2017-2020

Cocoa powder and cake production in Peru increased for the third consecutive year. In 2020, Peru produced 38 903 tonnes of cocoa powder and cake, marking a 22.5% rise compared to the previous year. Over the period from 2017 to 2020, production grew by 61.9%, with a compound annual growth rate of 17.4%.

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

In value, 2017-2020, K $ US

After a two-year decline, Peru's cocoa powder and cake production rebounded. In 2020, the output was valued at 98 856 thousand US dollars, reflecting a sharp increase of 39.8% compared to 2019. From 2017 to 2020, production rose by 23.2%, with a compound annual growth rate of 7.2%. The lowest value was recorded in 2019 at 70 727 thousand US dollars, while the largest decline occurred in 2018, dropping by 11.6%.

Annual dynamics of production in Peru in value, 2017-2020, K $ US

Exports cocoa powder and cake from Peru

Exports in kind, t

Cocoa powder and cake exports from Peru increased for the third consecutive year. In 2020, Peru exported 9 082 tonnes of cocoa powder and cake, representing a modest increase of 1.8% compared to 2019. Over the period from 2017 to 2020, exports surged by 110.5%, with a compound annual growth rate of 28.2%.

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

Between 2017 and 2020, the geographical structure of exports in kind was highly diversified. Argentina accounted for 15.7% of exports in kind, Chile for 13.8%, and Colombia for 13.5%, with these three countries together making up only 43.0% of total flows. The remaining 57.0% was distributed among numerous smaller partner countries.

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

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

Exports in value, K $ US

Exported cocoa powder and cake volumes from Peru increased for the third consecutive year. In 2020, Peru exported 23 079 thousand US dollars worth of cocoa powder and cake, constituting a substantial gain of 16.1% compared to 2019. Between 2017 and 2020, exports grew by 60.2%, equating to an annualized rate of 17.0%.

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

Between 2017 and 2020, the geographical structure of exports in value terms was highly diversified. The United States accounted for 20.8% of exports in value terms, Argentina for 12.2%, and Chile for 10.4%, with these three countries together representing only 43.5% of total flows. The remaining 56.5% was distributed among numerous smaller partner countries.

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

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

Imports cocoa powder and cake to Peru

Imports in kind, t

In 2020, Peru's volume of cocoa powder and cake imports amounted to 2 625 tonnes, which is 20.1% higher compared to 2019. Between 2017 and 2020, imports increased by 50.9%, equating to an annualized rate of 14.7%. The largest decline was recorded in 2019, falling by 9.2%, while the largest increase occurred in 2018, rising by 38.4%.

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

Between 2017 and 2020, Malaysia led the ranking of suppliers of cocoa powder and cake to Peru, accounting for 29.6% of imports in kind, followed by Singapore at 18.3% and Ecuador at 12.6%. Their combined share reached 60.6% of total imports in kind.

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

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

Imports in value, K $ US

In 2020, imported cocoa powder and cake volumes in Peru stood at 7 057 thousand US dollars, which is 15.6% higher compared to the previous year. Between 2017 and 2020, imports increased by 44.3%, equating to an annualized rate of 13.0%. The largest decline was recorded in 2019, dropping by 9.8%, while the largest increase occurred in 2018, rising by 38.5%.

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

Between 2017 and 2020, Malaysia accounted for 34.2% of imports in value terms, Singapore for 22.2%, and Spain for 8.5%, with these three countries together absorbing 64.9% of total imports in value terms of cocoa powder and cake to Peru, making them the main sources.

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

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