Asia-Pacific: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Asia-Pacific

The Asia-Pacific market for candies, sweets, and nonchocolate confectionery fell slightly to $X in 2022, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of +1.2% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Asia-Pacific

In value terms, candy, sweets, and nonchocolate confectionery production dropped to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2016 with an increase of 14% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in Asia-Pacific

In 2022, exports of candies, sweets, and nonchocolate confectionery in Asia-Pacific totaled X tons, picking up by 1.5% against the year before. The total export volume increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, candy, sweets, and nonchocolate confectionery exports totaled $X in 2022. The total export value increased at an average annual rate of +4.3% over the period from 2012 to 2022; 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 22%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

China represented the major exporter of candies, sweets, and nonchocolate confectionery in Asia-Pacific, with the volume of exports resulting at X tons, which was near 51% of total exports in 2022. It was distantly followed by India (X tons), Thailand (X tons) and South Korea (X tons), together mixing up a 27% share of total exports. Indonesia (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons), Vietnam (X tons), the Philippines (X tons), Hong Kong SAR (X tons), New Zealand (X tons) and Japan (X tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +6.6% from 2012 to 2022. At the same time, India (+11.5%), Japan (+10.4%), Taiwan (Chinese) (+4.9%) and the Philippines (+2.2%) displayed positive paces of growth. Moreover, India emerged as the fastest-growing exporter exported in Asia-Pacific, with a CAGR of +11.5% from 2012-2022. New Zealand and Thailand experienced a relatively flat trend pattern. By contrast, Hong Kong SAR (-1.4%), Vietnam (-2.3%), Malaysia (-2.6%), South Korea (-3.4%) and Indonesia (-7.4%) illustrated a downward trend over the same period. China (+14 p.p.) and India (+8.4 p.p.) significantly strengthened its position in terms of the total exports, while Vietnam, Malaysia, Thailand, South Korea and Indonesia saw its share reduced by -1.6%, -1.9%, -2.3%, -5% and -5.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest candy, sweets, and nonchocolate confectionery supplier in Asia-Pacific, comprising 51% of total exports. The second position in the ranking was taken by Thailand ($X), with a 6.7% share of total exports. It was followed by India, with a 6.3% share.

In China, candy, sweets, and nonchocolate confectionery exports increased at an average annual rate of +8.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Thailand (-0.5% per year) and India (+11.0% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by 6.8% against the previous year. Over the last decade, it increased at an average annual rate of +1.0%. The pace of growth was the most pronounced in 2016 an increase of 9.7% against the previous year. Over the period under review, the export prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

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 Japan ($X per ton), while India ($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 (+3.3%), while the other leaders experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in Asia-Pacific

In 2022, overseas purchases of candies, sweets, and nonchocolate confectionery increased by 4.1% to X tons, rising for the second year in a row after two years of decline. The total import volume increased at an average annual rate of +3.2% 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 2021 when imports increased by 16%. Over the period under review, imports reached the maximum at X tons in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports amounted to $X in 2022. The total import value increased at an average annual rate of +4.9% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Imports by Country

The countries with the highest levels of candy, sweets, and nonchocolate confectionery imports in 2022 were the Philippines (X tons), China (X tons), Australia (X tons), South Korea (X tons), Thailand (X tons), Indonesia (X tons), Malaysia (X tons), Japan (X tons), Vietnam (X tons), Hong Kong SAR (X tons), India (X tons) and New Zealand (X tons), together finishing at 86% of total import.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of +10.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest candy, sweets, and nonchocolate confectionery importing markets in Asia-Pacific were China ($X), Australia ($X) and South Korea ($X), together accounting for 42% of total imports.

China, with a CAGR of +13.0%, recorded the highest growth rate of 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

The import price in Asia-Pacific stood at $X per ton in 2022, picking up by 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2020 an increase of 6.5% against the previous year. The level of import peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Japan ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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