China: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in China

The Chinese chocolate and confectionery market fell slightly to $X in 2022, approximately reflecting the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by +0.2% against 2020 indices. Chocolate and confectionery consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Chocolate And Confectionery Production in China

In value terms, chocolate and confectionery production shrank slightly to $X in 2022 estimated in export price. Overall, the total production indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by +0.4% against 2020 indices. The growth pace was the most rapid in 2016 with an increase of 16% against the previous year. Chocolate and confectionery production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Chocolate And Confectionery Exports

Exports from China

In 2022, approx. X tons of chocolate and confectionery were exported from China; dropping by -3.2% compared with the previous year. Overall, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 17%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, chocolate and confectionery exports declined modestly to $X in 2022. The total export value increased at an average annual rate of +2.7% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when exports increased by 33% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The Philippines (X tons), South Korea (X tons) and the United States (X tons) were the main destinations of chocolate and confectionery exports from China, with a combined 21% share of total exports. Indonesia, Thailand, Australia, Malaysia, Japan, the United Arab Emirates, Saudi Arabia, Vietnam, New Zealand and Russia lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Indonesia (with a CAGR of +23.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate and confectionery exported from China were South Korea ($X), the Philippines ($X) and the United States ($X), with a combined 27% share of total exports. Thailand, Japan, Malaysia, Australia, Indonesia, Saudi Arabia, New Zealand, Vietnam, the United Arab Emirates and Russia lagged somewhat behind, together accounting for a further 32%.

In terms of the main countries of destination, Indonesia, with a CAGR of +18.9%, recorded the highest rates of growth with regard to 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 average chocolate and confectionery export price amounted to $X per ton, rising by 2.4% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 15%. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Japan ($X per ton), while the average price for exports to Indonesia ($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 the Philippines (+6.0%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into China

After four years of growth, overseas purchases of chocolate and confectionery decreased by -18.5% to X tons in 2022. In general, imports, however, posted a resilient increase. The most prominent rate of growth was recorded in 2018 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2021, and then contracted notably in the following year.

In value terms, chocolate and confectionery imports shrank to $X in 2022. Overall, total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.6% 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 +54.7% against 2017 indices. The pace of growth appeared the most rapid in 2021 when imports increased by 36%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Malaysia (X tons), Indonesia (X tons) and Singapore (X tons) were the main suppliers of chocolate and confectionery imports to China, with a combined 52% share of total imports. Belgium, Russia, Italy, Ghana, Thailand, Switzerland, the Netherlands, the United States, France and Germany lagged somewhat behind, together accounting for a further 37%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Russia (with a CAGR of +98.8%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X), Indonesia ($X) and Italy ($X) constituted the largest chocolate and confectionery suppliers to China, together accounting for 44% of total imports. Belgium, Singapore, Switzerland, Russia, the United States, Germany, France, Ghana, the Netherlands and Thailand lagged somewhat behind, together accounting for a further 41%.

Russia, with a CAGR of +97.9%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chocolate and confectionery import price amounted to $X per ton, increasing by 13% against the previous year. Over the period under review, the import price, however, continues to indicate a mild slump. The most prominent rate of growth was recorded in 2014 an increase of 14%. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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