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

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

The Asian market for candies, sweets, and nonchocolate confectionery declined to $X in 2022, shrinking by -6.3% against the previous year. In general, consumption, however, recorded a relatively flat trend pattern. 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

In value terms, candy, sweets, and nonchocolate confectionery production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, posted perceptible growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 27%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in Asia

Candy, sweets, and nonchocolate confectionery exports totaled X tons in 2022, rising by 2% against the previous year. The total export volume increased at an average annual rate of +4.1% 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 when exports increased by 20%. The volume of export peaked in 2022 and is expected to retain growth in the immediate term.

In value terms, candy, sweets, and nonchocolate confectionery exports expanded markedly to $X in 2022. The total export value increased at an average annual rate of +4.8% 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 with an increase of 23%. Over the period under review, the exports reached the peak figure in 2022 and are likely to continue growth in the near future.

Exports by Country

China (X tons) and Turkey (X tons) represented roughly 61% of total exports in 2022. It was distantly followed by India (X tons), comprising an 11% share of total exports. Thailand (X tons), South Korea (X tons), Saudi Arabia (X tons), Indonesia (X tons), Kazakhstan (X tons), Malaysia (X tons), Taiwan (Chinese) (X tons) and Vietnam (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +11.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest candy, sweets, and nonchocolate confectionery supplying countries in Asia were China ($X), Turkey ($X) and Thailand ($X), with a combined 66% share of total exports. India, South Korea, Taiwan (Chinese), Vietnam, Indonesia, Malaysia, Saudi Arabia and Kazakhstan lagged somewhat behind, together comprising a further 20%.

In terms of the main exporting countries, India, with a CAGR of +11.0%, 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 amounted to $X per ton, increasing by 7.9% against the previous year. Overall, the export price recorded a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue 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 Vietnam ($X per ton), while India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+3.3%), while the other leaders experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in Asia

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were imported in Asia; therefore, remained relatively stable against the year before. The total import volume increased at an average annual rate of +3.2% 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 14% against the previous year. The volume of import peaked at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery imports stood at $X in 2022. The total import value increased at an average annual rate of +4.9% 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 16%. The level of import peaked in 2022 and is likely to continue growth in years to come.

Imports by Country

The Philippines (X tons), Saudi Arabia (X tons), China (X tons), South Korea (X tons), Kazakhstan (X tons), the United Arab Emirates (X tons), Iraq (X tons), Thailand (X tons), Indonesia (X tons), Malaysia (X tons), Yemen (X tons) and Japan (X tons) represented roughly 63% of total imports in 2022. Azerbaijan (X tons) followed a long way behind the leaders.

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 were China ($X), South Korea ($X) and Saudi Arabia ($X), together comprising 29% of total imports.

In terms of the main importing countries, China, with a CAGR of +13.0%, recorded the highest rates of growth with regard to 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

The import price in Asia stood at $X per ton in 2022, rising by 6.4% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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 Japan ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Azerbaijan (+6.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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