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Country Report

Venezuela Flag Confectionery in Venezuela

| Pages: 44

Price: US$2,100

About this Report

Executive Summary

Chocolate Confectionery

TRENDS

  • 2015 was a difficult year for the chocolate industry, which has been harmfully impacted by smaller offerings and diminished product availability. Since February 2015 the importation of non-priority consumption goods (such as confectionery) has been governed by a new exchange system, SIMADI (Sistema Marginal de Divisas), in which the exchange rate fluctuates around BsF170 per US dollar, rather than the rate of BsF50 per US dollar, at which the US dollar was trading at SICAD II (Sistema Cambiario Alternativo de Divisas). Under this exchange rate, industry sources claim that it is unfeasible to import chocolate confectionery products, as prices will inevitably rise and the consumer will not be willing to pay such prices.

COMPETITIVE LANDSCAPE

  • Nestlé Venezuela is the leading company in chocolate confectionery, and registered a 61% value share in 2015. The company dominated tablets with a 75% share of value sales in 2015, due to the well-established position of its Savoy brand, which has been in the market for more than 70 years. It has also achieved top position in bagged selflines/softlines, in which it recorded a 58% value share in 2015. The company’s portfolio is considered very broad with products that target different segments, from children to adults.

PROSPECTS

  • Chocolate confectionery is projected to be harmfully impacted by a diminished product offering in the forecast period, with both manufacturers and importers being unable to maintain a steady supply given the restrictions in the acquisition of foreign exchange. Chocolate confectionery products are far from being considered priority products and therefore the government is very unlikely to increase foreign exchange allocation for both local producers and importers. Moreover, the exchange rate at which foreign currency is traded for non-priority categories is extremely high, rendering the final retail price of some chocolate confectionery products too expensive for the average Venezuelan. In view of this, a scenario of recovery is not foreseen in the medium term, and most companies will continue with a limited product offering.

Gum

TRENDS

  • Gum continues to be harmfully impacted by diminished product availability with both imported and domestic brands having massive shortages in 2015. Furthermore, given the devaluation of the local currency from an average exchange rate of BsF50 per US dollar to BsF170 per US dollar in February 2015, it is unfeasible to bring products into the market, as consumers are definitely unwilling to pay high prices for gum. In this regard, companies involved in confectionery have used the few resources they have to import and produce other confectionery products and snacks. At the same time, the rise in prices has made the maintenance of stock levels too costly for distributors; there is greater incentive to manage stock levels of other product categories.

COMPETITIVE LANDSCAPE

  • Cadbury Adams remains the leading company in gum, and held a 59% value share in 2015. The company has a monopoly of sugar-free gum, with its international brand Trident. It also dominates bubble gum, where it competes with Bubbaloo and Bubblicious, and held 58% of total value sales in 2015. Nestlé Venezuela ranked second in overall gum with 22% of total value sales, due to the performance of its Bolibomba brand, which has the top position in sugarised gum.

PROSPECTS

  • Given that gum is a category with a high dependence on imported products, there are few possibilities in the forecast period for significant further growth and expansion. Because of the devaluation of the local currency, importing products into the market is practically unfeasible as prices would be so high that not all consumers would be able to afford them. Given that Venezuelans will continue to deal with tight budgets, they will continue to prioritise more essential product categories, with gum being regarded the least essential.

Sugar Confectionery

TRENDS

  • In spite of sugar confectionery continuing to post a volume sales decline in 2015, maintaining the main trend of the review period, the fall was less pronounced than those of gum and chocolate confectionery (both showing 2-digit volume declines in 2014 and 2015). Dealing with such a limited allocation of foreign exchange, importers of confectionery products have rationalised their portfolios and are thus focusing on ensuring a more stable offering in highly profitable categories, such as sugar confectionery. Furthermore, the severe devaluation of the local currency in 2014 and 2015 that led to confectionery prices skyrocketing forced importers to focus on core business lines.

COMPETITIVE LANDSCAPE

  • Colombina de Venezuela remains the leading company in sugar confectionery, and registered a 33% value share in 2015. In boiled sweets and lollipops the company also dominates, while in pastilles, gums, jellies and chews it ranked second in 2015, surpassed by Super de Alimentos SA. Among other important distributors of sugar confectionery products are Distribuidora de Galletas Diga CA, Unidal Venezuela SA and Super de Alimentos SA.

PROSPECTS

  • Given that sugar confectionery is dominated by imported brands, its expansion will continue to be harmfully impacted by restrictions in the access to foreign exchange over the forecast period. Furthermore, as sugar confectionery is far from being an essential product category, it is very unlikely that the government will increase the assignment of foreign exchange for imports, especially when taking into account that the fall in international oil prices has led to a reduction in the revenues coming from oil activities.

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Overview

Discover the latest market trends and uncover sources of future market growth for the Confectionery industry in Venezuela with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Confectionery industry in Venezuela, our research will save you time and money while empowering you to make informed, profitable decisions.

The Confectionery in Venezuela market research report includes:

  • Analysis of key supply-side and demand trends
  • Detailed segmentation of international and local products
  • Historic volumes and values, company and brand market shares
  • Five year forecasts of market trends and market growth
  • Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

  • What is the market size of Confectionery in Venezuela?
  • What are the major brands in Venezuela?
  • With economic recovery far from guaranteed, are consumers cutting back on impulse and indulgence food items like confectionery?
  • How are manufacturers addressing consumer concerns over health and obesity?
  • What does the future hold for ethically sourced products?

Why buy this report?

  • Gain competitive intelligence about market leaders
  • Track key industry trends, opportunities and threats
  • Inform your marketing, brand, strategy and market development, sales and supply functions

This industry report originates from Passport, our Packaged Food market research database.

Table of Contents

Confectionery in Venezuela - Category Analysis

CHOCOLATE CONFECTIONERY

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 1 Sales of Chocolate Confectionery by Category: Volume 2010-2015
  • Table 2 Sales of Chocolate Confectionery by Category: Value 2010-2015
  • Table 3 Sales of Chocolate Confectionery by Category: % Volume Growth 2010-2015
  • Table 4 Sales of Chocolate Confectionery by Category: % Value Growth 2010-2015
  • Table 5 Sales of Chocolate Tablets by Type: % Value Breakdown 2010-2015
  • Table 6 NBO Company Shares of Chocolate Confectionery: % Value 2011-2015
  • Table 7 LBN Brand Shares of Chocolate Confectionery: % Value 2012-2015
  • Table 8 Distribution of Chocolate Confectionery by Format: % Value 2010-2015
  • Table 9 Forecast Sales of Chocolate Confectionery by Category: Volume 2015-2020
  • Table 10 Forecast Sales of Chocolate Confectionery by Category: Value 2015-2020
  • Table 11 Forecast Sales of Chocolate Confectionery by Category: % Volume Growth 2015-2020
  • Table 12 Forecast Sales of Chocolate Confectionery by Category: % Value Growth 2015-2020

GUM

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Table 13 Sales of Gum by Category: Volume 2010-2015
  • Table 14 Sales of Gum by Category: Value 2010-2015
  • Table 15 Sales of Gum by Category: % Volume Growth 2010-2015
  • Table 16 Sales of Gum by Category: % Value Growth 2010-2015
  • Table 17 Sales of Gum by Flavour: Rankings 2010-2015
  • Table 18 NBO Company Shares of Gum: % Value 2011-2015
  • Table 19 LBN Brand Shares of Gum: % Value 2012-2015
  • Table 20 Distribution of Gum by Format: % Value 2010-2015
  • Table 21 Forecast Sales of Gum by Category: Volume 2015-2020
  • Table 22 Forecast Sales of Gum by Category: Value 2015-2020
  • Table 23 Forecast Sales of Gum by Category: % Volume Growth 2015-2020
  • Table 24 Forecast Sales of Gum by Category: % Value Growth 2015-2020

SUGAR CONFECTIONERY

Headlines

Trends

Competitive Landscape

Prospects

Category Data

  • Summary 1 Other Sugar Confectionery: Product Types
  • Table 25 Sales of Sugar Confectionery by Category: Volume 2010-2015
  • Table 26 Sales of Sugar Confectionery by Category: Value 2010-2015
  • Table 27 Sales of Sugar Confectionery by Category: % Volume Growth 2010-2015
  • Table 28 Sales of Sugar Confectionery by Category: % Value Growth 2010-2015
  • Table 29 Sales of Pastilles, Gums, Jellies and Chews by Type: % Value Breakdown 2010-2015
  • Table 30 NBO Company Shares of Sugar Confectionery: % Value 2011-2015
  • Table 31 LBN Brand Shares of Sugar Confectionery: % Value 2012-2015
  • Table 32 Distribution of Sugar Confectionery by Format: % Value 2010-2015
  • Table 33 Forecast Sales of Sugar Confectionery by Category: Volume 2015-2020
  • Table 34 Forecast Sales of Sugar Confectionery by Category: Value 2015-2020
  • Table 35 Forecast Sales of Sugar Confectionery by Category: % Volume Growth 2015-2020
  • Table 36 Forecast Sales of Sugar Confectionery by Category: % Value Growth 2015-2020

Packaged Food in Venezuela - Industry Context

Executive Summary

Shortages in raw materials and inputs limit growth in packaged food

Yoghurt remains showing the fastest pace of innovation in 2015

Alimentos Polar remains as the largest player in packaged food

Modern grocery retailers continues to lead the retail distribution of packaged food in 2015

Packaged food expected to grow at a slow pace

Key Trends and Developments

Companies look to escape regulations by launching products with value-added features not found in price-regulated versions

Price-regulated staples show high index shortage over 2014 and 2015

Yoghurt remains showing the fastest pace of innovation in 2015

Impulse product categories remain negatively affected by price increases and limited offerings

Foodservice: Key Trends and Developments

Headlines

Trends: Sales to Foodservice

Trends: Consumer Foodservice

Prospects

Category Data

  • Table 37 Foodservice Sales of Packaged Food by Category: Volume 2010-2015
  • Table 38 Foodservice Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 39 Forecast Foodservice Sales of Packaged Food by Category: Volume 2015-2020
  • Table 40 Forecast Foodservice Sales of Packaged Food by Category: % Volume Growth 2015-2020

Market Data

  • Table 41 Sales of Packaged Food by Category: Volume 2010-2015
  • Table 42 Sales of Packaged Food by Category: Value 2010-2015
  • Table 43 Sales of Packaged Food by Category: % Volume Growth 2010-2015
  • Table 44 Sales of Packaged Food by Category: % Value Growth 2010-2015
  • Table 45 GBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 46 NBO Company Shares of Packaged Food: % Value 2011-2015
  • Table 47 LBN Brand Shares of Packaged Food: % Value 2012-2015
  • Table 48 Penetration of Private Label by Category: % Value 2010-2015
  • Table 49 Distribution of Packaged Food by Format: % Value 2010-2015
  • Table 50 Distribution of Packaged Food by Format and Category: % Value 2015
  • Table 51 Forecast Sales of Packaged Food by Category: Volume 2015-2020
  • Table 52 Forecast Sales of Packaged Food by Category: Value 2015-2020
  • Table 53 Forecast Sales of Packaged Food by Category: % Volume Growth 2015-2020
  • Table 54 Forecast Sales of Packaged Food by Category: % Value Growth 2015-2020

Sources

  • Summary 2 Research Sources

Segmentation

This market research report includes the following:

  • Packaged Food
    • Confectionery
      • Chocolate Confectionery
        • Bagged Selflines/Softlines
        • Boxed Assortments
          • Standard Boxed Assortments
          • Twist Wrapped Miniatures
        • Chocolate with Toys
        • Countlines
        • Seasonal Chocolate
        • Tablets
        • Other Chocolate Confectionery
      • Gum
        • Bubble Gum
        • Chewing Gum
      • Sugar Confectionery
        • Boiled Sweets
        • Liquorice
        • Lollipops
        • Medicated Confectionery
        • Mints
          • Power Mints
          • Standard Mints
        • Pastilles, Gums, Jellies and Chews
        • Toffees, Caramels and Nougat
        • Other Sugar Confectionery

Statistics Included

For each category and subcategory you will receive the following data in Excel format:

From Passport

  • Market Sizes
  • Company Shares
  • Brand Shares
  • Distribution
  • Analysis by Flavour
  • Analysis by Type
  • Pricing
  • Products by Ingredient

Market size details:

  • Retail volume
  • Retail volume % growth
  • Retail volume per capita
  • Foodservice volume
  • Foodservice volume % growth
  • Foodservice volume per capita
  • Total volume
  • Total volume % growth
  • Total volume per capita
  • Retail value retail selling price % growth
  • Retail value retail selling price local currency, USD, EUR, GBP, CHF, JPY
  • Retail value retail selling price per capita local currency, USD, EUR, GBP, CHF, JPY
  • Retail value manufacturer selling price % growth
  • Retail value manufacturer selling price local currency, USD, EUR, GBP, CHF, JPY
  • Retail value manufacturer selling price per capita local currency, USD, EUR, GBP, CHF, JPY
  • Retail volume (tonnes)
  • Retail volume (tonnes) % growth
  • Retail volume (tonnes) per capita
  • Foodservice volume (tonnes)
  • Foodservice volume (tonnes) % growth
  • Foodservice volume (tonnes) per capita
  • Total volume (tonnes)
  • Total volume (tonnes) % growth
  • Total volume (tonnes) per capita

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