South America Chocolate Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

The South America Chocolate Market is segmented by Confectionery Variant (Dark Chocolate, Milk and White Chocolate), by Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others) and by Country (Argentina, Brazil). Market Value in USD and Volume are both presented. Key data points observed include market segmental split by confections, confectionery variant, sugar content, and distribution channel.

South America Chocolate Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030

South America Chocolate Market Size

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South America Chocolate Market Summary
Study Period 2018 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Size (2025) USD 6.18 Billion
Market Size (2030) USD 7.68 Billion
CAGR (2025 - 2030) 4.43 %
Market Concentration High

Major Players

South America Chocolate Market Major Players

*Disclaimer: Major Players sorted in no particular order

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South America Chocolate Market Analysis

The South America Chocolate Market size is estimated at 6.18 billion USD in 2025, and is expected to reach 7.68 billion USD by 2030, growing at a CAGR of 4.43% during the forecast period (2025-2030).

The South American chocolate industry is experiencing a significant transformation in its retail landscape, driven by evolving consumer shopping preferences and digital acceleration. Supermarkets and hypermarkets continue to dominate the retail channels, offering extensive product ranges and convenient shopping experiences. The digital transformation of chocolate retail is particularly evident in Brazil, where approximately 38 million consumers shopped online for various products, including chocolates, in 2022. Additionally, 42% of online buyers showed a strong preference for fast-shipping applications, highlighting the growing importance of convenience and quick delivery services.


The industry is witnessing a notable shift toward premium chocolate and health-conscious consumption patterns, reflecting broader changes in consumer behavior and preferences. Dark chocolate, in particular, has gained significant traction among health-conscious consumers due to its perceived health benefits, including heart health promotion and blood pressure regulation. This trend is particularly evident in the growing consumer base seeking guilt-free indulgence, with a remarkable 81% of consumers in 2022 expressing a preference for snacks personalized to their health needs, demonstrating the market's evolution toward healthier alternatives.


Digital transformation and e-commerce adoption are reshaping the chocolate industry's distribution landscape, with online channels emerging as the fastest-growing distribution segment. The convenience of online shopping, coupled with the expansion of delivery networks and digital payment solutions, has created new opportunities for chocolate manufacturers and retailers. This shift is particularly pronounced among younger consumers, with studies showing that 39% of Brazilian consumers aged 16-34 years in 2023 consume chocolate snacks specifically for stress relief and relaxation purposes.


The chocolate industry is also benefiting from strong cultural factors and consumption patterns unique to South America. Regular chocolate consumption has become deeply embedded in daily routines, with surveys indicating that 67% of consumers enjoyed chocolate at least once per week in 2022. The gifting culture continues to drive premium chocolate sales, particularly during festivals and special occasions, while the rise of artisanal chocolate makers is adding new dimensions to the market. This trend is particularly evident in countries like Chile, where per capita chocolate consumption by country reached 2.1 kg per year in 2022, reflecting the region's growing appetite for premium chocolate products.

Segment Analysis: Confectionery Variant

Milk and White Chocolate Segment in South American Chocolate Market

The milk and white chocolate segment continues to dominate the South American chocolate market, commanding approximately 71% of the total market share in 2024. This substantial market presence is primarily attributed to the widespread consumer preference for milk chocolate and white chocolate varieties across key South American countries, particularly in Brazil, where these variants are especially popular. The segment's dominance is further strengthened by the relatively lower average selling price of USD 3.56 compared to dark chocolate, making it more accessible to a broader consumer base. The availability of milk and white chocolate products across various price points, from economy to premium ranges, has helped manufacturers cater to different consumer segments. Additionally, the segment's growth is supported by continuous product innovations, including the introduction of new flavors, textures, and formats, as well as the incorporation of local ingredients and taste preferences that resonate with South American consumers.

Market Analysis of South America Chocolate Market: Chart for Confectionery Variant

Dark Chocolate Segment in South American Chocolate Market

The dark chocolate segment is experiencing remarkable growth in the South American chocolate market, with an expected growth rate of approximately 5% during 2024-2029. This accelerated growth is primarily driven by increasing health consciousness among consumers and growing awareness of the potential health benefits associated with dark chocolate consumption. The segment's expansion is particularly notable in Brazil, where consumers are increasingly seeking premium dark chocolate products with higher cocoa content. The growth trajectory is supported by manufacturers' focus on sustainable cocoa sourcing practices and the introduction of innovative dark chocolate products that cater to health-conscious consumers. The premium positioning of dark chocolate products, with an average selling price of USD 6.34, has also contributed to its growth as consumers demonstrate increasing willingness to pay higher prices for products perceived as healthier and more sophisticated.

Segment Analysis: Distribution Channel

Supermarket/Hypermarket Segment in South American Chocolate Market

Supermarkets and hypermarkets represent the dominant distribution channel in the South American chocolate confectionery market, commanding approximately 44% of the market share in 2024. This channel's prominence is attributed to multiple factors, including the extensive range of chocolate products offered, convenient shopping experiences, and various promotional schemes. These retail outlets provide consumers with the ability to compare different brands, prices, and product varieties all under one roof. The segment's growth is further supported by the widespread penetration of popular chains including Carrefour, Dia, Jumbo, Walmart, and Assai across the region, which collectively provide a wide selection of both imported and locally manufactured retail chocolate products. Additionally, these outlets run various promotional schemes, including discounts, cash-back reward points, and contests, making shopping a rewarding experience for consumers.

Online Retail Segment in South American Chocolate Market

The online retail channel is experiencing remarkable growth in the South American chocolate market, with projections indicating significant expansion between 2024 and 2029. This channel's growth is primarily driven by the increasing penetration of internet services and the rising adoption of e-commerce platforms across the region. Online stores are revolutionizing the chocolate retail landscape by offering a vast collection of product offerings, including both private labels and mainstream brands. The segment's growth is further accelerated by the convenience of store-to-door delivery services, on-demand ordering capabilities, and click-and-collect in-store pickup options. Additionally, many online retail channels are attracting customers through instant discounts and cashback offers while shopping through various cards and digital wallets, making them an increasingly attractive option for convenience-seeking customers.

Remaining Segments in Distribution Channel

The convenience store and other distribution channels continue to play vital roles in the South American chocolate market. Convenience stores serve as crucial points of purchase due to their strategic locations near residential and commercial areas, offering easy accessibility and quick shopping experiences for consumers. The 'Others' category, which includes specialty stores, warehouse clubs, drug stores, vending machines, forecourt retailers, and direct selling, provides diverse purchasing options catering to specific consumer preferences and shopping habits. These channels are particularly important in reaching different consumer segments and maintaining product availability across various retail formats, contributing to the overall market accessibility and consumer convenience in the chocolate industry.

South America Chocolate Market Geography Segment Analysis

Chocolate Market in Brazil

Brazil dominates the South American chocolate market, commanding approximately 68% of the total market value in 2024. The country's chocolate industry benefits from its robust cocoa production capabilities and strong domestic consumption patterns. Brazilian consumers show a particular affinity for premium chocolate products, with a growing preference for high-quality, single-origin chocolates and artisanal chocolate varieties. The market is characterized by a diverse product portfolio ranging from traditional milk chocolates to innovative dark chocolate variants infused with local ingredients. The country's chocolate consumption is heavily influenced by seasonal factors and special occasions, with significant spikes during Easter, Christmas, and Valentine's Day. Local manufacturers have been increasingly focusing on sustainable sourcing practices and organic chocolate production to meet evolving consumer preferences. The market also benefits from a well-developed retail infrastructure, including both modern trade channels and traditional outlets, ensuring widespread product availability across urban and rural areas.

Chocolate Market in Argentina

Argentina's chocolate market is poised for remarkable growth, with projections indicating an expansion rate of approximately 6% during 2024-2029. The country's chocolate industry is experiencing a significant transformation driven by changing consumer preferences and increasing demand for premium products. Argentine consumers are increasingly gravitating towards dark chocolate varieties, particularly those with higher cocoa content, reflecting a growing awareness of the health benefits associated with cocoa consumption. The market is characterized by a strong presence of both international and domestic manufacturers, contributing to product innovation and competitive pricing. Local chocolate makers are increasingly incorporating indigenous ingredients and flavors, creating unique offerings that appeal to both domestic and international consumers. The country's chocolate industry also benefits from a well-established distribution network, with supermarkets and specialty stores playing a crucial role in product accessibility. The growing trend of chocolate gifting during special occasions and festivals continues to drive market growth.

Chocolate Market in Other Countries

The chocolate market across other South American countries, including Peru, Chile, Ecuador, Venezuela, Bolivia, and Uruguay, exhibits diverse consumption patterns and growth trajectories. These markets are characterized by varying levels of chocolate consumption, with urban areas showing a stronger preference for premium and international brands. Consumer preferences in these regions are evolving, with increasing appreciation for artisanal chocolate and unique flavor combinations. Local manufacturers in these countries are focusing on developing products that cater to regional tastes while maintaining international quality standards. The markets benefit from growing tourism sectors, which help introduce local chocolate varieties to international consumers. Distribution networks in these countries continue to expand, particularly in urban areas, improving product accessibility. The growing middle-class population and increasing disposable incomes in these regions are driving the demand for premium chocolate products. Additionally, these markets are witnessing increased penetration of South American chocolate brands, contributing to market diversification and product innovation.

South America Chocolate Industry Overview

Top Companies in South America Chocolate Market

The chocolate market in South America is characterized by intense competition and continuous innovation among major players. Companies are focusing on expanding their product portfolios through new flavor combinations, premium chocolate offerings, and healthier alternatives like dark chocolate variants. Operational agility is demonstrated through investments in research and development centers, sustainable sourcing practices, and modernization of chocolate manufacturing facilities. Strategic moves include strengthening distribution networks, particularly in emerging markets, and establishing partnerships with local retailers and distributors. Market leaders are expanding their presence through both organic growth and acquisitions, with a particular focus on enhancing their production capabilities and retail footprint across key markets like Brazil and Argentina. Companies are also emphasizing sustainability initiatives, including responsible cocoa sourcing and eco-friendly packaging solutions, to align with growing consumer consciousness.

Market Led by Global Giants and Regional Players

The South American chocolate market exhibits a balanced mix of global confectionery conglomerates and strong regional players. Global giants like Nestlé, Mondelez, and Mars leverage their extensive research capabilities, established brand portfolios, and widespread distribution networks to maintain market leadership. Regional specialists such as Arcor and Grupo Nutresa have carved out significant market share through their deep understanding of local preferences and strong distribution channels. The market structure is relatively consolidated at the top, with a few large players controlling a significant portion of the market, while numerous smaller local manufacturers compete in specific regional markets or specialty segments.


The market has witnessed active merger and acquisition activity, particularly involving larger companies acquiring local manufacturers to expand their regional presence. These strategic acquisitions help global players gain immediate access to established distribution networks and local market knowledge. Companies are also forming strategic partnerships and joint ventures to strengthen their market position and enhance operational efficiency. The competitive dynamics are further shaped by vertical integration strategies, with some major players investing in chocolate processing facilities to ensure supply chain control and quality consistency.

Innovation and Distribution Key to Market Success

Success in the South American chocolate market increasingly depends on companies' ability to innovate while maintaining operational efficiency. Market leaders must focus on developing premium products, expanding their organic and sustainable offerings, and creating unique flavor combinations that appeal to local tastes. Building strong relationships with retailers and investing in direct-to-consumer channels, including e-commerce platforms, is crucial for maintaining market share. Companies need to optimize their supply chain management and distribution networks while investing in digital technologies to improve operational efficiency and customer engagement.


For emerging players looking to gain market share, focusing on niche segments and developing unique value propositions is essential. This includes targeting specific consumer segments with specialized chocolate products, such as sugar-free or organic chocolates, and leveraging local chocolate ingredients and flavors. Success also depends on building strong brand identity through effective marketing campaigns and establishing partnerships with local distributors. Companies must navigate potential regulatory challenges, particularly regarding labeling requirements and food safety standards, while maintaining flexibility to adapt to changing consumer preferences and market conditions. The ability to maintain product quality while managing production costs will remain crucial for long-term success in this competitive market.

South America Chocolate Market Leaders

  1. Arcor S.A.I.C

  2. Cacau Show

  3. Ferrero International SA

  4. Mondelēz International Inc.

  5. Nestlé SA

  6. *Disclaimer: Major Players sorted in no particular order
South America Chocolate Market Concentration
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South America Chocolate Market News

  • July 2023: Ferrero's sister company, Ferrara Candy Co., announced the acquisition of Brazilian snacks company Dori Alimentos, which sells a variety of chocolate and sugar confectionery brands, including Dori, Pettiz, and Jubes.
  • December 2022: Mars Incorporated launched Snickers Caramelo & Bacon limited edition chocolate bars in Brazil.
  • November 2022: Nestlé announced the establishment of a new Research & Development (R&D) Center for Latin America. The inauguration of the new center was in Santiago, Chile. This center will enable the development of tasty, nutritious, affordable, and sustainable products that are highly relevant to local consumers. The center will also strengthen the company's collaborations with universities, start-ups, and entrepreneurs across Latin America.

South America Chocolate Market Report - Table of Contents

1. EXECUTIVE SUMMARY & KEY FINDINGS

2. REPORT OFFERS

3. INTRODUCTION

  • 3.1 Study Assumptions & Market Definition
  • 3.2 Scope of the Study​
  • 3.3 Research Methodology

4. KEY INDUSTRY TRENDS

  • 4.1 Regulatory Framework
  • 4.2 Consumer Buying Behavior
  • 4.3 Ingredient Analysis
  • 4.4 Value Chain & Distribution Channel Analysis

5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

  • 5.1 Confectionery Variant
    • 5.1.1 Dark Chocolate
    • 5.1.2 Milk and White Chocolate
  • 5.2 Distribution Channel
    • 5.2.1 Convenience Store
    • 5.2.2 Online Retail Store
    • 5.2.3 Supermarket/Hypermarket
    • 5.2.4 Others
  • 5.3 Country
    • 5.3.1 Argentina
    • 5.3.2 Brazil
    • 5.3.3 Rest of South America

6. COMPETITIVE LANDSCAPE

  • 6.1 Key Strategic Moves
  • 6.2 Market Share Analysis
  • 6.3 Company Landscape
  • 6.4 Company Profiles
    • 6.4.1 Arcor S.A.I.C
    • 6.4.2 Cacau Show
    • 6.4.3 Chocoladefabriken Lindt & Sprüngli AG
    • 6.4.4 Confiteca CA
    • 6.4.5 Ferrero International SA
    • 6.4.6 Grupo de Inversiones Suramericana SA
    • 6.4.7 Mars Incorporated
    • 6.4.8 Mondelēz International Inc.
    • 6.4.9 Nestlé SA
    • 6.4.10 Nugali Chocolates
    • 6.4.11 The Hershey Company
    • 6.4.12 The Peccin SA
  • *List Not Exhaustive

7. KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS

8. APPENDIX

  • 8.1 Global Overview
    • 8.1.1 Overview
    • 8.1.2 Porter’s Five Forces Framework
    • 8.1.3 Global Value Chain Analysis
    • 8.1.4 Market Dynamics (DROs)
  • 8.2 Sources & References
  • 8.3 List of Tables & Figures
  • 8.4 Primary Insights
  • 8.5 Data Pack
  • 8.6 Glossary of Terms
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South America Chocolate Industry Segmentation

Dark Chocolate, Milk and White Chocolate are covered as segments by Confectionery Variant. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel. Argentina, Brazil are covered as segments by Country.
Confectionery Variant Dark Chocolate
Milk and White Chocolate
Distribution Channel Convenience Store
Online Retail Store
Supermarket/Hypermarket
Others
Country Argentina
Brazil
Rest of South America
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South America Chocolate Market Research FAQs

How big is the South America Chocolate Market?

The South America Chocolate Market size is expected to reach USD 6.18 billion in 2025 and grow at a CAGR of 4.43% to reach USD 7.68 billion by 2030.

What is the current South America Chocolate Market size?

In 2025, the South America Chocolate Market size is expected to reach USD 6.18 billion.

Who are the key players in South America Chocolate Market?

Arcor S.A.I.C, Cacau Show, Ferrero International SA, Mondelēz International Inc. and Nestlé SA are the major companies operating in the South America Chocolate Market.

Which segment has the biggest share in the South America Chocolate Market?

In the South America Chocolate Market, the Supermarket/Hypermarket segment accounts for the largest share by distribution channel.

Which country has the biggest share in the South America Chocolate Market?

In 2025, Brazil accounts for the largest share by country in the South America Chocolate Market.

What years does this South America Chocolate Market cover, and what was the market size in 2025?

In 2025, the South America Chocolate Market size was estimated at 6.18 billion. The report covers the South America Chocolate Market historical market size for years: 2018, 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the South America Chocolate Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

South America Chocolate Market Research

Mordor Intelligence provides a comprehensive analysis of the South America chocolate industry. We leverage our extensive expertise in chocolate manufacturing and processing research. Our detailed report covers everything from industrial chocolate production to artisanal chocolate crafting. This includes segments such as dark chocolate, milk chocolate, and white chocolate. The analysis examines chocolate confectionery trends, chocolate coating applications, and emerging developments in compound chocolate and couverture chocolate manufacturing. We focus particularly on the evolving chocolate market in Latin America.

Stakeholders gain valuable insights through our report PDF, available for download. It details premium chocolate market dynamics, organic chocolate demand, and chocolate consumption patterns across countries. The research thoroughly examines South American chocolate brands and chocolate beverages innovations. It also highlights the growing influence of gourmet chocolate products. Our analysis supports strategic decision-making by providing detailed information about chocolate ingredients, chocolate processing technologies, and chocolate products distribution across retail channels. This helps businesses identify growth opportunities in both traditional and emerging market segments.