ASEAN: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in ASEAN

The ASEAN market for chocolate bars with cereals, fruit or nuts shrank slightly to $X in 2022, declining by -2.5% against the previous year. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Production of Chocolate Bars with Cereals, Fruit or Nuts in ASEAN

In value terms, production of chocolate bars with cereals, fruit or nuts shrank slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 14%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports in ASEAN

In 2022, exports of chocolate bars with cereals, fruit or nuts in ASEAN expanded slightly to X tons, increasing by 2.8% compared with the year before. Total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.7% against 2014 indices. The most prominent rate of growth was recorded in 2019 with an increase of 30%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, exports of chocolate bars with cereals, fruit or nuts expanded to $X in 2022. Over the period under review, exports posted a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 31% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in the immediate term.

Exports by Country

The shipments of the three major exporters of chocolate bars with cereals, fruit or nuts, namely Singapore, Malaysia and Thailand, represented more than two-thirds of total export. It was distantly followed by Vietnam (X tons), achieving a 5.5% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Thailand (with a CAGR of +22.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X), Malaysia ($X) and Thailand ($X) constituted the countries with the highest levels of exports in 2022, with a combined 94% share of total exports. These countries were followed by Vietnam, which accounted for a further 4.2%.

Among the main exporting countries, Vietnam, with a CAGR of +19.0%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ASEAN amounted to $X per ton, increasing by 2% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.2%. The pace of growth appeared the most rapid in 2017 when the export price increased by 15%. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+4.4%), while the other leaders experienced mixed trends in the export price figures.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports in ASEAN

In 2022, overseas purchases of chocolate bars with cereals, fruit or nuts increased by 10% to X tons, rising for the second year in a row after two years of decline. Over the period under review, imports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when imports increased by 61%. As a result, imports attained the peak of X tons. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2016 when imports increased by 42% against the previous year. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

In 2022, Thailand (X tons), the Philippines (X tons), Malaysia (X tons) and Singapore (X tons) was the largest importer of chocolate bars with cereals, fruit or nuts in ASEAN, creating 87% of total import. It was distantly followed by Indonesia (X tons), comprising a 6.5% share of total imports. The following importers - Vietnam (X tons) and Lao People's Democratic Republic (X tons) - together made up 5.3% of total imports.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +20.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest cereal, fruit or nut chocolate bar importing markets in ASEAN were Thailand ($X), the Philippines ($X) and Singapore ($X), with a combined 73% share of total imports.

In terms of the main importing countries, the Philippines, with a CAGR of +31.5%, recorded 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, with an increase of 6.7% against the previous year. Over the last decade, it increased at an average annual rate of +2.2%. The growth pace was the most rapid in 2015 an increase of 16%. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while Lao People's Democratic Republic ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Philippines (+9.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform