Asia-Pacific: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Asia-Pacific

The Asia-Pacific chocolate and confectionery market contracted modestly to $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +3.8% 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 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Chocolate And Confectionery Production in Asia-Pacific

In value terms, chocolate and confectionery production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.1% 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 2015 when the production volume increased by 12% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Chocolate And Confectionery Exports

Exports in Asia-Pacific

In 2022, approx. X tons of chocolate and confectionery were exported in Asia-Pacific; waning by -7.3% against the year before. The total export volume increased at an average annual rate of +2.2% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 8%. As a result, the exports reached the peak of X tons, and then contracted in the following year.

In value terms, chocolate and confectionery exports expanded slightly to $X in 2022. The total export value increased at an average annual rate of +3.3% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 when exports increased by 24% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

Exports by Country

In 2022, Indonesia (X tons) and Malaysia (X tons) were the largest exporters of chocolate and confectionery in Asia-Pacific, together amounting to near 57% of total exports. It was distantly followed by Singapore (X tons) and China (X tons), together constituting a 25% share of total exports. The following exporters - Australia (X tons), South Korea (X tons) and India (X tons) - together made up 10% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by India (with a CAGR of +9.2%), while the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Singapore ($X) constituted the countries with the highest levels of exports in 2022, together comprising 70% of total exports. China, Australia, India and South Korea lagged somewhat behind, together accounting for a further 19%.

Among the main exporting countries, India, with a CAGR of +11.2%, saw the highest growth rate of 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-Pacific amounted to $X per ton, growing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2014 when the export price increased by 15%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices remained at a 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-Pacific

In 2022, approx. X tons of chocolate and confectionery were imported in Asia-Pacific; with a decrease of -2.7% on 2021 figures. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 when imports increased by 13% against the previous year. As a result, imports reached the peak of X tons, and then shrank slightly in the following year.

In value terms, chocolate and confectionery imports expanded slightly to $X in 2022. The total import value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 20%. The level of import peaked in 2022 and is likely to see gradual growth in years to come.

Imports by Country

In 2022, Japan (X tons), China (X tons), Australia (X tons), India (X tons), the Philippines (X tons), South Korea (X tons), Singapore (X tons), Thailand (X tons), Indonesia (X tons), Malaysia (X tons), New Zealand (X tons) and Hong Kong SAR (X tons) represented the main importer of chocolate and confectionery in Asia-Pacific, constituting 92% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key 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, the largest chocolate and confectionery importing markets in Asia-Pacific were Japan ($X), China ($X) and Australia ($X), together comprising 45% of total imports. South Korea, Singapore, India, the Philippines, Hong Kong SAR, Thailand, New Zealand, Malaysia and Indonesia lagged somewhat behind, together comprising a further 46%.

In terms of the main importing countries, the Philippines, with a CAGR of +14.1%, recorded the highest growth rate of 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

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by 5.8% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 8.2%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the 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 Hong Kong SAR ($X per ton), while India ($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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