South America Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

South America Chocolate Market is segmented by Type (Dark Chocolate, Milk and White Chocolate) by Product Type ( Softlines/Selflines, Boxed Assortments, Countlines, Seasonal Chocolate, Molded Chocolate, and Other Chocolate Confectionery), By Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channel, and Other Distribution Channels) and Geography.

South America Chocolate Market Size

Study Period: 2018 - 2028
CAGR: 4.2 %

Major Players


*Disclaimer: Major Players sorted in no particular order


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South America Chocolate Market Analysis

South America's chocolate market is expected to grow at a CAGR of 4.2% during the forecast period.

  • Innovation in products and packaging, impulse purchasing, and increased chocolate consumption are driving the market. Growing demand for premium chocolate further accelerated the chocolate market in South America.
  • Chocolate confectionery with fruits and seeds, in the Colombian market, are gaining prominence, as Colombian consumers are looking for new taste experiences. Therefore, manufacturers are trying to develop products that are both attractive and unexpected. 
  • The companies selling their chocolate products in the South American market are experimenting with launching and rebranding of their products, so as to maintain their sales and interest among the consumers. 

South America Chocolate Industry Segmentation

The market study of the South America chocolate market is available for alfajores, softlines/selflines, boxed assortments, chocolate with toys, countlines, seasonal chocolate, molded chocolate and other chocolate confectionaries. By distribution channel, the market is segmented as supermarkets/ hypermarkets, specialist retailers, convenience stores, online channel and other distribution channels

By Type
Dark Chocolate
Milk Chocolate
White Chocolate
By Product
Boxed Assortments
Seasonal Chocolates
Molded Chocolates
Other Product Types
By Distribution Channel
Supermarkets/ Hypermarkets
Specialist Retailers
Convenience Stores
Online Channel
Other Distribution Channels
Rest of South America

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South America Chocolate Market Trends

This section covers the major market trends shaping the South America Chocolate Market according to our research experts:

Increasing Demand of Premium and Healthy Chocolates

The shift in attitudes is forcing global firms, like Mars Inc., Mondelez International, Nestle  and other local brands, to rebrand or reformulate their mass-market chocolates to create a healthier image, or sell a more expensive and premium experience. Moreover, the consumers in South America are becoming more sophisticated and are increasingly searching for premium chocolate products, that are differentiated from common brands found in the retail sector. There is a minor market share that is earned by several smaller, premium chocolate companies, including Kopenhagen and Cauca Show. It is only over the past few years that premium chocolate has become desirable for the Brazilian market and other South American countries; only very recently, has organic and fair trade chocolate been introduced in the country. 



Brazil is the Largest Market Segment

Brazil’s National Association of the Cocoa Processing Industry (AIPC) expects the surge in cocoa planting to help double the country’s output of the raw material in chocolate by 2028, to 400,000 metric tons a year. This increase would raise global output by about 5 percent. The renewed planting could make Brazil one of the world’s top three cocoa growers. Thus, this factor makes this market profit-oriented, during the future forecast period. Moreover, Brazil dominates the chocolate consumption in the region, which is expected to maintain its position during the forecast period. Moreover, as per data published by Lindt & Sprüngli, in 2017, Brazil was one of the top countries in terms of per capita chocolate consumption, worldwide (in kilograms), thereby occupying the 21st position out of the total 24  countries taken under the scope.


South America Chocolate Industry Overview

The chocolate market in South America is competitive, with the significant presence of the top five global players, namely, Lindt & Sprungli AG, The Hershey Company, Ferrero Group, Mondelez International, and Nestle SA. The leading players in the South American chocolate market enjoy a dominant presence, worldwide. Brand loyalty among the consumers gives these companies an upper edge.

South America Chocolate Market Leaders

  1. Lindt & Sprüngli AG

  2. The Hershey Company

  3. Ferrero Group

  4. Mondelēz International

  5. Nestle SA

*Disclaimer: Major Players sorted in no particular order


South America Chocolate Market Report - Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study



    1. 3.1 Market Overview


    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porters Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry


    1. 5.1 By Type

      1. 5.1.1 Dark Chocolate

      2. 5.1.2 Milk Chocolate

      3. 5.1.3 White Chocolate

    2. 5.2 By Product

      1. 5.2.1 Softlines/Selflines

      2. 5.2.2 Boxed Assortments

      3. 5.2.3 Countlines

      4. 5.2.4 Seasonal Chocolates

      5. 5.2.5 Molded Chocolates

      6. 5.2.6 Other Product Types

    3. 5.3 By Distribution Channel

      1. 5.3.1 Supermarkets/ Hypermarkets

      2. 5.3.2 Specialist Retailers

      3. 5.3.3 Convenience Stores

      4. 5.3.4 Online Channel

      5. 5.3.5 Other Distribution Channels

    4. 5.4 Geography

      1. 5.4.1 Brazil

      2. 5.4.2 Argentina

      3. 5.4.3 Rest of South America


    1. 6.1 Market Share Analysis

    2. 6.2 Most Active Companies

    3. 6.3 Most Adopted Strategies

    4. 6.4 Company Profiles

      1. 6.4.1 Mars Incorporated

      2. 6.4.2 Ferrero Group

      3. 6.4.3 Mondalez International

      4. 6.4.4 Hershey Co.

      5. 6.4.5 Nestle SA

      6. 6.4.6 Pladis

      7. 6.4.7 Chocoladenfabriken Lindt & Spr�ngli AG

      8. 6.4.8 Arcor

    5. *List Not Exhaustive

**Subject to Availability
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South America Chocolate Market Research FAQs

The South America Chocolate Market is studied from 2018 - 2028.

The South America Chocolate Market is growing at a CAGR of 4.2% over the next 5 years.

Lindt & Sprüngli AG, The Hershey Company, Ferrero Group, Mondelēz International, Nestle SA are the major companies operating in South America Chocolate Market.

South America Chocolate Industry Report

Statistics for the 2023 South America Chocolate market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. South America Chocolate analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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