China: Caramel Market 2024

Caramel Market Size in China

In 2022, the Chinese caramel market increased by X% to $X, rising for the second consecutive year after two years of decline. In general, consumption, however, showed a relatively flat trend pattern. Caramel consumption peaked at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Caramel Production in China

In value terms, caramel production fell markedly to $X in 2022 estimated in export price. Overall, production saw a perceptible shrinkage. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Caramel Exports

Exports from China

In 2022, exports of caramel from China expanded significantly to X tons, increasing by X% compared with 2021. In general, total exports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The exports peaked at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, caramel exports skyrocketed to $X in 2022. Over the period under review, total exports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2012 indices. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Indonesia (X tons) was the main destination for caramel exports from China, with a X% share of total exports. Moreover, caramel exports to Indonesia exceeded the volume sent to the second major destination, the Philippines (X tons), twofold. Malaysia (X tons) ranked third in terms of total exports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Indonesia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Malaysia (X% per year).

In value terms, Indonesia ($X) remains the key foreign market for caramel exports from China, comprising X% of total exports. The second position in the ranking was held by the Philippines ($X), with an X% share of total exports. It was followed by Malaysia, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Indonesia amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Philippines (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the average caramel export price amounted to $X per ton, picking up by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to see steady growth in the near future.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Peru ($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 Taiwan (Chinese) (X%), while the prices for the other major destinations experienced more modest paces of growth.

Caramel Imports

Imports into China

Caramel imports into China soared to X tons in 2022, increasing by X% against 2021. In general, imports continue to indicate significant growth. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of X tons; afterwards, it flattened through to 2022.

In value terms, caramel imports surged to $X in 2022. Overall, imports recorded a significant increase. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Thailand (X tons) constituted the largest supplier of caramel to China, accounting for a X% share of total imports. Moreover, caramel imports from Thailand exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Thailand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Malaysia (X% per year).

In value terms, Thailand ($X) constituted the largest supplier of caramel to China, comprising X% of total imports. The second position in the ranking was taken by Vietnam ($X), with a X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Thailand totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Malaysia (X% per year).

Import Prices by Country

In 2022, the average caramel import price amounted to $X per ton, growing by X% against the previous year. Overall, the import price, however, showed a abrupt decline. The growth pace was the most rapid in 2021 an increase of X%. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Average prices varied somewhat amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Vietnam (X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform