ASEAN: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in ASEAN

The ASEAN market for candies, sweets, and nonchocolate confectionery reached $X in 2022, flattening at the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in ASEAN

In value terms, candy, sweets, and nonchocolate confectionery production dropped modestly to $X in 2022 estimated in export price. In general, production, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 with an increase of 12% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in ASEAN

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were exported in ASEAN; which is down by -16.9% against the year before. Overall, exports recorded a pronounced setback. The pace of growth was the most pronounced in 2021 with an increase of 12% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports contracted to $X in 2022. In general, exports saw a mild decline. The most prominent rate of growth was recorded in 2021 with an increase of 14%. Over the period under review, the exports reached the peak figure at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Thailand (X tons) represented the major exporter of candies, sweets, and nonchocolate confectionery, creating 36% of total exports. Indonesia (X tons) took a 16% share (based on physical terms) of total exports, which put it in second place, followed by Malaysia (15%), Vietnam (13%), the Philippines (11%) and Singapore (7.5%).

Thailand experienced a relatively flat trend pattern with regard to volume of exports of candies, sweets, and nonchocolate confectionery. At the same time, the Philippines (+2.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in ASEAN, with a CAGR of +2.2% from 2012-2022. By contrast, Vietnam (-2.3%), Malaysia (-2.6%), Indonesia (-7.4%) and Singapore (-8.3%) illustrated a downward trend over the same period. While the share of Thailand (+9 p.p.) and the Philippines (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-5.7 p.p.) and Indonesia (-9.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest candy, sweets, and nonchocolate confectionery supplier in ASEAN, comprising 35% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 17% share of total exports. It was followed by Indonesia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Thailand was relatively modest. In the other countries, the average annual rates were as follows: Vietnam (+0.4% per year) and Indonesia (-5.3% per year).

Export Prices by Country

The export price in ASEAN stood at $X per ton in 2022, picking up by 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.0%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Singapore ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.4%), while the other leaders experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in ASEAN

In 2022, supplies from abroad of candies, sweets, and nonchocolate confectionery increased by 18% to X tons, rising for the second consecutive year after two years of decline. Total imports indicated a strong expansion from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.3% against 2020 indices. The pace of growth appeared the most rapid in 2016 when imports increased by 25%. The volume of import peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, candy, sweets, and nonchocolate confectionery imports surged to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.6% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Philippines (X tons) was the main importer of candies, sweets, and nonchocolate confectionery, achieving 35% of total imports. It was distantly followed by Thailand (X tons), Indonesia (X tons), Malaysia (X tons), Vietnam (X tons) and Singapore (X tons), together mixing up a 61% share of total imports. Lao People's Democratic Republic (X tons) followed a long way behind the leaders.

The Philippines was also the fastest-growing in terms of the candies, sweets, and nonchocolate confectionery imports, with a CAGR of +10.5% from 2012 to 2022. At the same time, Indonesia (+9.0%), Thailand (+6.8%), Vietnam (+4.7%) and Malaysia (+3.2%) displayed positive paces of growth. By contrast, Singapore (-2.4%) and Lao People's Democratic Republic (-3.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines and Indonesia increased by +12 and +3.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest candy, sweets, and nonchocolate confectionery importing markets in ASEAN were Thailand ($X), the Philippines ($X) and Malaysia ($X), with a combined 56% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +11.4%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ASEAN stood at $X per ton in 2022, standing approx. at the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 an increase of 8.3% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform