Colombia and the Americas

Overview

• Population: 51.6 million  
• Market size: Total Colombian confectionery sales are $1.4 billion.** 
• Marketplace: 3.3% of total Latin American confectionery sales and 0.2% of global sales* 
• How much confectionery does the average Colombian eat annually? 1.29 kg in 2020, below the global and regional levels* 
• How much does the average Colombian spend on confectionery annually? $9, well below the global ($28) and Latin American ($23) averages*  

Colombia’s confectionery sales are low in comparison to powerhouses such as the U.S., Mexico and Canada. However, with an expected five-year annual growth rate of +1%, growth prospects are ahead of several other countries in the Americas. Growth prospects are also high for Guatemala (+3.0%), Honduras (+2.1%) and Peru (+2.0%).* 

Chocolate^**

+5.8%

Chocolate sales are expected to grow to COP $923 billion by 2026, with a five-year annual growth rate of +5.8%.

• Chocolate sales are slightly bigger than non-chocolate sales and reached COP $677.9 billion in 2021.
• Store-based retailing generates the bulk of chocolate sales, at 97.6%.
• E-commerce represents 2.4% of total chocolate sales, up from 1.4% in 2019.
• Chocolate sales rose as consumers started traveling more following stringent lockdowns in 2020.
• Tablets (bars) had the highest value growth in 2020, up 8%.
• Premium products with high cocoa content are expected to do well in the next five years.  

Chocolate sales experienced robust growth in 2021, up 6% with volume growth of 4%.

Non-Chocolate^**

• Non-chocolate candy is the second-largest seller in Colombia, with value sales of COP $602 billion in 2021.
• Sugar confectionery is typically bigger than chocolate but was severely impacted by the pandemic restrictions and reduced seasonal sales during Halloween 2020.
• Sugar confectionery is expected to see an annual growth rate of 3% over the next five years, to reach COP $696.5 billion in 2026.

98.8%