China: Festive Articles Market 2024

Festive Articles Market Size in China

In 2022, the Chinese festive articles market decreased by -13.9% to $X, falling for the second consecutive year after four years of growth. In general, consumption continues to indicate a abrupt contraction. Festive articles consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Festive Articles Production in China

In value terms, festive articles production totaled $X in 2022 estimated in export price. Over the period under review, production saw a buoyant increase. The most prominent rate of growth was recorded in 2015 with an increase of 38%. Over the period under review, production reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Festive Articles Exports

Exports from China

Festive articles exports from China soared to X tons in 2022, picking up by 17% compared with 2021. Over the period under review, exports posted prominent growth. The pace of growth was the most pronounced in 2017 when exports increased by 54%. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, festive articles exports surged to $X in 2022. In general, exports recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of 70% against the previous year. 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

The United States (X tons) was the main destination for festive articles exports from China, with a 49% share of total exports. Moreover, festive articles exports to the United States exceeded the volume sent to the second major destination, India (X tons), tenfold. The third position in this ranking was taken by the UK (X tons), with a 3.6% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to +19.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+15.9% per year) and the UK (+14.7% per year).

In value terms, the United States ($X) remains the key foreign market for festive or carnival articles exports from China, comprising 60% of total exports. The second position in the ranking was held by the UK ($X), with a 3.7% share of total exports. It was followed by Canada, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States totaled +32.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+26.3% per year) and Canada (+26.7% per year).

Export Prices by Country

In 2022, the average festive articles export price amounted to $X per ton, with an increase of 2.5% against the previous year. Overall, the export price recorded a strong expansion. The most prominent rate of growth was recorded in 2015 an increase of 23%. The export price peaked in 2022 and is likely to see gradual growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to India ($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 United States (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Festive Articles Imports

Imports into China

In 2022, supplies from abroad of festive or carnival articles increased by 72% to X tons, rising for the second consecutive year after two years of decline. In general, imports posted a prominent expansion. The pace of growth was the most pronounced in 2015 when imports increased by 116% against the previous year. Imports peaked at X tons in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, festive articles imports reduced sharply to $X in 2022. Over the period under review, imports saw a resilient increase. The pace of growth was the most pronounced in 2015 with an increase of 136% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Australia (X tons) constituted the largest supplier of festive articles to China, accounting for a 30% share of total imports. Moreover, festive articles imports from Australia exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), fivefold. Colombia (X tons) ranked third in terms of total imports with a 4.9% share.

From 2012 to 2022, the average annual growth rate of volume from Australia amounted to +163.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+17.6% per year) and Colombia (+31.4% per year).

In value terms, the largest festive articles suppliers to China were Australia ($X), the United States ($X) and Vietnam ($X), with a combined 54% share of total imports.

Australia, with a CAGR of +130.8%, recorded the highest growth rate of the value of imports, in terms of 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 festive articles import price amounted to $X per ton, shrinking by -67.8% against the previous year. In general, the import price, however, showed noticeable growth. The most prominent rate of growth was recorded in 2020 an increase of 242% against the previous year. Over the period under review, average import prices reached the maximum at $X per ton in 2021, and then shrank markedly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+23.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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