Eastern Asia: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Eastern Asia

The East Asian chocolate and confectionery market reduced modestly to $X in 2022, approximately equating the previous year. The total consumption indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +1.1% against 2020 indices. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Chocolate And Confectionery Production in Eastern Asia

In value terms, chocolate and confectionery production fell to $X in 2022 estimated in export price. The total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +4.3% 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 +0.7% against 2020 indices. The pace of growth appeared the most rapid in 2015 when the production volume increased by 19% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Chocolate And Confectionery Exports

Exports in Eastern Asia

In 2022, the amount of chocolate and confectionery exported in Eastern Asia dropped to X tons, which is down by -2.5% against the previous year's figure. The total export volume increased at an average annual rate of +1.0% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2014 with an increase of 12%. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, chocolate and confectionery exports fell slightly to $X in 2022. The total export value increased at an average annual rate of +2.4% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The pace of growth appeared the most rapid in 2021 when exports increased by 24% 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 remained at a lower figure.

Exports by Country

In 2022, China (X tons) represented the key exporter of chocolate and confectionery, committing 58% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 25% share, followed by Hong Kong SAR (9.1%) and Japan (6.2%). Taiwan (Chinese) (X tons) took a little share of total exports.

China experienced a relatively flat trend pattern with regard to volume of exports of chocolate and confectionery. At the same time, Taiwan (Chinese) (+7.9%), Japan (+7.4%) and South Korea (+3.0%) displayed positive paces of growth. Moreover, Taiwan (Chinese) emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +7.9% from 2012-2022. Hong Kong SAR experienced a relatively flat trend pattern. While the share of South Korea (+4.3 p.p.) and Japan (+2.9 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Hong Kong SAR (-1.8 p.p.) and China (-6.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest chocolate and confectionery supplier in Eastern Asia, comprising 57% of total exports. The second position in the ranking was held by Hong Kong SAR ($X), with an 18% share of total exports. It was followed by Japan, with a 14% share.

In China, chocolate and confectionery exports expanded at an average annual rate of +2.7% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Hong Kong SAR (+0.1% per year) and Japan (+4.8% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, declining by -2.2% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2021 when the export price increased by 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.6%), while the other leaders experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports in Eastern Asia

In 2022, the amount of chocolate and confectionery imported in Eastern Asia contracted to X tons, waning by -5.6% compared with 2021. The total import volume increased at an average annual rate of +2.8% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations in certain years. The growth pace was the most rapid in 2021 when imports increased by 17% against the previous year. As a result, imports reached the peak of X tons, and then contracted in the following year.

In value terms, chocolate and confectionery imports dropped to $X in 2022. The total import value increased at an average annual rate of +2.9% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 24%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

Japan (X tons) and China (X tons) represented roughly 77% of total imports in 2022. South Korea (X tons) held a 12% share (based on physical terms) of total imports, which put it in second place, followed by Hong Kong SAR (5.8%) and Taiwan (Chinese) (5.3%).

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +7.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and South Korea ($X) constituted the countries with the highest levels of imports in 2022, together comprising 82% of total imports. Hong Kong SAR and Taiwan (Chinese) lagged somewhat behind, together comprising a further 17%.

In terms of the main importing countries, Taiwan (Chinese), with a CAGR of +8.5%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per ton, rising by 3.7% against the previous year. Overall, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when the import price increased by 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+2.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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