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

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

The Asia-Pacific market for chocolate bars with cereals, fruit or nuts dropped to $X in 2022, approximately mirroring the previous year. The market 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 in certain years. 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 Asia-Pacific

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 +3.2% 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 2018 with an increase of 18%. Over the period under review, production of attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports in Asia-Pacific

Exports of chocolate bars with cereals, fruit or nuts rose markedly to X tons in 2022, growing by 5.2% compared with the previous year's figure. Total exports indicated prominent growth from 2012 to 2022: its volume increased at an average annual rate of +5.8% 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 +1.2% against 2019 indices. The most prominent rate of growth was recorded in 2019 with an increase of 26%. 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 surged to $X in 2022. Overall, exports recorded a buoyant expansion. The growth pace was the most rapid in 2019 with an increase of 24% against the previous year. Over the period under review, the exports of attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the four major exporters of chocolate bars with cereals, fruit or nuts, namely South Korea, Singapore, Malaysia and Thailand, represented more than two-thirds of total export. Australia (X tons) ranks next in terms of the total exports with a 7.6% share, followed by New Zealand (6.5%). Japan (X tons) held a little share 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 Thailand (with a CAGR of +22.8%), while the other leaders experienced more modest paces of growth.

In value terms, New Zealand ($X), Singapore ($X) and Malaysia ($X) were the countries with the highest levels of exports in 2022, together accounting for 54% of total exports.

Among the main exporting countries, New Zealand, with a CAGR of +19.5%, 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, with an increase of 9.4% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The pace of growth was the most pronounced in 2021 when the export price increased by 11% against the previous year. Over the period under review, the export prices reached the peak figure in 2022 and is expected to retain growth in the immediate term.

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 New Zealand (+7.0%), while the other leaders experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports in Asia-Pacific

Imports of chocolate bars with cereals, fruit or nuts expanded slightly to X tons in 2022, rising by 3.2% on 2021. The total import volume increased at an average annual rate of +3.5% over the period 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 2016 with an increase of 13% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, imports of chocolate bars with cereals, fruit or nuts totaled $X in 2022. Total imports indicated a buoyant 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 +25.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Over the period under review, imports of reached the peak figure in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Japan (X tons) represented the largest importer of chocolate bars with cereals, fruit or nuts, achieving 32% of total imports. It was distantly followed by Australia (X tons), China (X tons), South Korea (X tons), New Zealand (X tons) and Thailand (X tons), together making up a 41% share of total imports. The Philippines (X tons), Hong Kong SAR (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Singapore (X tons) and India (X tons) took a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cereal, fruit or nut chocolate bar imports into Japan stood at +2.7%. At the same time, the Philippines (+20.0%), India (+12.7%), South Korea (+11.8%), China (+11.1%), Thailand (+9.3%), Malaysia (+6.0%), Australia (+5.6%) and Hong Kong SAR (+3.1%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of +20.0% from 2012-2022. Taiwan (Chinese) and New Zealand experienced a relatively flat trend pattern. By contrast, Singapore (-7.7%) illustrated a downward trend over the same period. China (+5.4 p.p.), South Korea (+3.1 p.p.), the Philippines (+3.1 p.p.), Australia (+2.5 p.p.) and Thailand (+2.2 p.p.) significantly strengthened its position in terms of the total imports, while New Zealand, Japan and Singapore saw its share reduced by -2.5%, -2.7% and -7.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported chocolate bars with cereals, fruit or nuts in Asia-Pacific, comprising 29% of total imports. The second position in the ranking was held by Australia ($X), with a 14% share of total imports. It was followed by China, with a 12% share.

In Japan, imports of chocolate bars with cereals, fruit or nuts expanded at an average annual rate of +4.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Australia (+6.4% per year) and China (+11.8% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The level of import peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per ton), while Malaysia ($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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