China: Sweet Biscuit Market 2024

Sweet Biscuit Market Size in China

In 2021, the Chinese sweet biscuit market was finally on the rise to reach $X after two years of decline. The market value increased at an average annual rate of +4.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Sweet Biscuit Production in China

In value terms, sweet biscuit production totaled $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.7% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2014 when the production volume increased by 20%. Sweet biscuit production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Sweet Biscuit Exports

Exports from China

In 2021, exports of sweet biscuits from China skyrocketed to X tons, jumping by 16% compared with 2020 figures. Overall, total exports indicated a temperate expansion from 2012 to 2021: its volume increased at an average annual rate of +3.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +108.3% against 2015 indices. The most prominent rate of growth was recorded in 2019 when exports increased by 33% against the previous year. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, sweet biscuit exports skyrocketed to $X in 2021. In general, exports posted strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 32%. The exports peaked in 2021 and are likely to continue growth in the near future.

Exports by Country

The United States (X tons), Japan (X tons) and Vietnam (X tons) were the main destinations of sweet biscuit exports from China, with a combined 45% share of total exports. Mexico, Hong Kong SAR, Myanmar, Thailand, Malaysia, Saudi Arabia, Australia, the Philippines, South Korea and New Zealand lagged somewhat behind, together comprising a further 42%.

From 2012 to 2021, the biggest increases were recorded for Myanmar (with a CAGR of +86.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Vietnam ($X) and Hong Kong SAR ($X) constituted the largest markets for sweet biscuit exported from China worldwide, with a combined 43% share of total exports. Japan, Mexico, Malaysia, Australia, Thailand, Saudi Arabia, the Philippines, South Korea, New Zealand and Myanmar lagged somewhat behind, together comprising a further 44%.

Mexico, with a CAGR of +66.3%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average sweet biscuit export price amounted to $X per ton, increasing by 4.7% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.8%. The pace of growth appeared the most rapid in 2015 when the average export price increased by 13%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Hong Kong SAR ($X per ton), while the average price for exports to Myanmar ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (+11.2%), while the prices for the other major destinations experienced more modest paces of growth.

Sweet Biscuit Imports

Imports into China

In 2021, imports of sweet biscuits into China was estimated at X tons, approximately reflecting the previous year's figure. Overall, total imports indicated a prominent expansion from 2012 to 2021: its volume increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -13.8% against 2019 indices. The most prominent rate of growth was recorded in 2013 with an increase of 41%. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

In value terms, sweet biscuit imports expanded sharply to $X in 2021. Over the period under review, total imports indicated a strong increase from 2012 to 2021: its value increased at an average annual rate of +8.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2013 with an increase of 46% against the previous year. Imports peaked at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Indonesia (X tons) constituted the largest supplier of sweet biscuit to China, accounting for a 31% share of total imports. Moreover, sweet biscuit imports from Indonesia exceeded the figures recorded by the second-largest supplier, Malaysia (X tons), threefold. The third position in this ranking was taken by Denmark (X tons), with a 9.9% share.

From 2012 to 2021, the average annual growth rate of volume from Indonesia amounted to +13.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+8.7% per year) and Denmark (+0.9% per year).

In value terms, the largest sweet biscuit suppliers to China were Indonesia ($X), Japan ($X) and Denmark ($X), with a combined 51% share of total imports. These countries were followed by Malaysia, South Korea, Belgium, Italy, Taiwan (Chinese), the UK, Russia, Turkey, Spain and Ukraine, which together accounted for a further 27%.

Russia, with a CAGR of +111.1%, saw 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 2021, the average sweet biscuit import price amounted to $X per ton, with an increase of 9.9% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.1%. The growth pace was the most rapid in 2017 an increase of 20%. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Japan ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+14.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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