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

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

The Bangladeshi market for candies, sweets, and nonchocolate confectionery rose modestly to $X in 2022, surging by 4% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Production of Candies, Sweets, and Nonchocolate Confectionery in Bangladesh

In value terms, candy, sweets, and nonchocolate confectionery production totaled $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when the production volume increased by 22%. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Bangladesh

After ten years of growth, overseas shipments of candies, sweets, and nonchocolate confectionery decreased by -52% to X tons in 2022. Overall, exports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2014 when exports increased by 97%. Over the period under review, the exports hit record highs at X tons in 2021, and then shrank dramatically in the following year.

In value terms, candy, sweets, and nonchocolate confectionery exports contracted sharply to $X in 2022. Over the period under review, exports, however, recorded a significant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 98% against the previous year. Over the period under review, the exports hit record highs at $X in 2021, and then reduced notably in the following year.

Exports by Country

India (X tons) was the main destination for candy, sweets, and nonchocolate confectionery exports from Bangladesh, accounting for a 73% share of total exports. Moreover, candy, sweets, and nonchocolate confectionery exports to India exceeded the volume sent to the second major destination, Australia (X tons), tenfold. The third position in this ranking was taken by the UK (X tons), with a 4.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India amounted to +29.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+93.2% per year) and the UK (+39.4% per year).

In value terms, India ($X) remains the key foreign market for candies, sweets, and nonchocolate confectionery exports from Bangladesh, comprising 63% of total exports. The second position in the ranking was taken by Australia ($X), with a 13% share of total exports. It was followed by the UK, with a 4.5% share.

From 2012 to 2022, the average annual growth rate of value to India amounted to +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+88.8% per year) and the UK (+37.9% per year).

Export Prices by Country

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, surging by 27% against the previous year. Overall, export price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, candy, sweets, and nonchocolate confectionery export price increased by +29.8% against 2020 indices. The pace of growth appeared the most rapid in 2016 an increase of 36% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Nepal (+6.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Bangladesh

In 2022, overseas purchases of candies, sweets, and nonchocolate confectionery increased by 22% to X tons, rising for the second year in a row after four years of decline. Overall, imports saw a prominent expansion. The pace of growth was the most pronounced in 2014 with an increase of 224%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports rose significantly to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2014 with an increase of 315%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of candy, sweets, and nonchocolate confectionery to Bangladesh, with a 13% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), threefold. The third position in this ranking was held by Turkey (X tons), with a 1.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China amounted to +40.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+6.6% per year) and Turkey (+7.9% per year).

In value terms, China ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Bangladesh, comprising 14% of total imports. The second position in the ranking was held by Singapore ($X), with a 5.4% share of total imports. It was followed by Sri Lanka, with a 2.5% share.

From 2012 to 2022, the average annual growth rate of value from China stood at +38.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+7.2% per year) and Sri Lanka (+106.7% per year).

Import Prices by Country

The average import price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, with a decrease of -9.2% against the previous year. Over the last decade, it increased at an average annual rate of +4.1%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 28%. The import price peaked at $X per ton in 2021, and then dropped in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Sri Lanka ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+80.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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