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

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

After two years of decline, the Asian market for chocolate bars with cereals, fruit or nuts increased by 2.6% to $X in 2022. The market value increased at an average annual rate of +2.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

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

In value terms, production of chocolate bars with cereals, fruit or nuts dropped modestly to $X in 2022 estimated in export price. The total production indicated a pronounced expansion from 2012 to 2022: its value increased at an average annual rate of +3.6% 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 +1.8% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of 27% 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 Chocolate Bars with Cereals, Fruit or Nuts

Exports in Asia

In 2022, after five years of growth, there was significant decline in shipments abroad of chocolate bars with cereals, fruit or nuts, when their volume decreased by -6.3% to X tons. Total exports indicated perceptible growth from 2012 to 2022: its volume increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 13%. Over the period under review, the exports of reached the maximum at X tons in 2021, and then reduced in the following year.

In value terms, exports of chocolate bars with cereals, fruit or nuts dropped to $X in 2022. Total exports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +4.7% 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 +28.8% against 2014 indices. The growth pace was the most rapid in 2014 with an increase of 17% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2021, and then declined in the following year.

Exports by Country

The biggest shipments were from South Korea (X tons), Singapore (X tons), Turkey (X tons), Malaysia (X tons) and Thailand (X tons), together amounting to 85% of total export. The following exporters - Japan (X tons) and China (X tons) - each amounted to a 6.2% 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, the largest cereal, fruit or nut chocolate bar supplying countries in Asia were Turkey ($X), Singapore ($X) and Malaysia ($X), with a combined 56% share of total exports.

In terms of the main exporting countries, Singapore, with a CAGR of +10.8%, 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 Asia amounted to $X per ton, remaining stable against the previous year. In general, the export price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 10% against the previous year. The level of export peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per ton), while Thailand ($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 more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports in Asia

In 2022, imports of chocolate bars with cereals, fruit or nuts in Asia amounted to X tons, remaining stable against the previous year's figure. The total import volume increased at an average annual rate of +4.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when imports increased by 13% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, imports of chocolate bars with cereals, fruit or nuts reached $X in 2022. Total imports indicated a remarkable increase from 2012 to 2022: its value increased at an average annual rate of +5.5% 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 +55.8% against 2015 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 22%. Over the period under review, imports of hit record highs in 2022 and are expected to retain growth in the near future.

Imports by Country

In 2022, Japan (X tons), distantly followed by China (X tons), the United Arab Emirates (X tons) and Saudi Arabia (X tons) were the key importers of chocolate bars with cereals, fruit or nuts, together constituting 41% of total imports. Israel (X tons), Iraq (X tons), South Korea (X tons), Thailand (X tons), Turkey (X tons), Uzbekistan (X tons), the Philippines (X tons), Kazakhstan (X tons) and Hong Kong SAR (X tons) followed a long way behind the leaders.

Imports into Japan increased at an average annual rate of +2.7% from 2012 to 2022. At the same time, Uzbekistan (+32.9%), the Philippines (+20.0%), Israel (+14.1%), Turkey (+13.0%), South Korea (+11.8%), China (+11.1%), Thailand (+9.3%), the United Arab Emirates (+7.8%), Hong Kong SAR (+3.1%) and Iraq (+1.8%) displayed positive paces of growth. Moreover, Uzbekistan emerged as the fastest-growing importer imported in Asia, with a CAGR of +32.9% from 2012-2022. By contrast, Saudi Arabia (-2.8%) and Kazakhstan (-3.0%) illustrated a downward trend over the same period. China (+3.5 p.p.), Uzbekistan (+3 p.p.), Israel (+2.6 p.p.), the Philippines (+2.1 p.p.), South Korea (+2.1 p.p.), the United Arab Emirates (+1.8 p.p.) and Turkey (+1.7 p.p.) significantly strengthened its position in terms of the total imports, while Kazakhstan, Japan and Saudi Arabia saw its share reduced by -2.5%, -2.9% and -5.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported chocolate bars with cereals, fruit or nuts in Asia, comprising 21% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 9.7% share of total imports. It was followed by China, with an 8.9% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to +4.7%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (+10.2% per year) and China (+11.8% per year).

Import Prices by Country

In 2022, the import price in Asia amounted to $X per ton, growing by 4.7% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.4%. The most prominent rate of growth was recorded in 2021 an increase of 8.7% against the previous year. Over the period under review, import prices attained the peak figure in 2022 and is expected to retain growth in years to come.

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 the United Arab Emirates ($X per ton), while Uzbekistan ($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

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