Asia: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Asia

The Asian chocolate and confectionery market contracted slightly to $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +3.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chocolate And Confectionery Production in Asia

In value terms, chocolate and confectionery production shrank slightly to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +2.1% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 16%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Chocolate And Confectionery Exports

Exports in Asia

In 2022, approx. X tons of chocolate and confectionery were exported in Asia; approximately mirroring the previous year. The total export volume increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 9.4%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, chocolate and confectionery exports rose rapidly to $X in 2022. The total export value increased at an average annual rate of +3.8% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of 22%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

In 2022, Indonesia (X tons), Malaysia (X tons), Turkey (X tons) and Singapore (X tons) represented the key exporter of chocolate and confectionery in Asia, comprising 75% of total export. It was distantly followed by the United Arab Emirates (X tons) and China (X tons), together committing a 12% share of total exports. South Korea (X tons) held a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +6.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Turkey ($X) were the countries with the highest levels of exports in 2022, together accounting for 56% of total exports.

Among the main exporting countries, Indonesia, with a CAGR of +6.1%, recorded 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 Asia amounted to $X per ton, surging by 9.9% against the previous year. Overall, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by 11% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained 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 China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the other leaders experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports in Asia

In 2022, approx. X tons of chocolate and confectionery were imported in Asia; flattening at 2021 figures. The total import volume increased at an average annual rate of +4.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 12% against the previous year. As a result, imports reached the peak of X tons, leveling off in the following year.

In value terms, chocolate and confectionery imports stood at $X in 2022. The total import value increased at an average annual rate of +3.8% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of 19% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Imports by Country

Japan (X tons) and China (X tons) represented the largest importers of chocolate and confectionery in 2022, recording approx. 13% and 10% of total imports, respectively. It was followed by the United Arab Emirates (X tons), Turkey (X tons), India (X tons) and Saudi Arabia (X tons), together making up a 23% share of total imports. The Philippines (X tons), South Korea (X tons), Singapore (X tons), Iraq (X tons), Kazakhstan (X tons), Israel (X tons) and Thailand (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by India (with a CAGR of +12.7%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 29% share of total imports. Saudi Arabia, Turkey, South Korea, Singapore, India, the Philippines, Israel, Thailand, Iraq and Kazakhstan lagged somewhat behind, together accounting for a further 40%.

The Philippines, with a CAGR of +14.1%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, increasing by 5.3% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 6.7% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 South Korea ($X per ton), while Iraq ($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 (+1.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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