Eastern Asia: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Eastern Asia

The East Asian market for candies, sweets, and nonchocolate confectionery shrank to $X in 2022, which is down by -2.2% against the previous year. The market value increased at an average annual rate of +1.4% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Eastern Asia

In value terms, candy, sweets, and nonchocolate confectionery production dropped modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed throughout the analyzed period. The growth pace was the most rapid in 2016 when the production volume increased by 20% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2022, production growth remained at a somewhat lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in Eastern Asia

Candy, sweets, and nonchocolate confectionery exports surged to X tons in 2022, increasing by 17% on the year before. The total export volume increased at an average annual rate of +4.9% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by 24% against the previous year. The volume of export peaked in 2022 and is expected to retain growth in years to come.

In value terms, candy, sweets, and nonchocolate confectionery exports surged to $X in 2022. Total exports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.7% 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 +47.5% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 23%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in the near future.

Exports by Country

China dominates exports structure, accounting for X tons, which was near 82% of total exports in 2022. It was distantly followed by South Korea (X tons), mixing up an 8.5% share of total exports. The following exporters - Taiwan (Chinese) (X tons), Hong Kong SAR (X tons) and Japan (X tons) - together made up 9.4% of total exports.

From 2012 to 2022, average annual rates of growth with regard to candy, sweets, and nonchocolate confectionery exports from China stood at +6.6%. At the same time, Japan (+10.4%) and Taiwan (Chinese) (+4.9%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +10.4% from 2012-2022. By contrast, Hong Kong SAR (-1.4%) and South Korea (-3.4%) illustrated a downward trend over the same period. China (+12 p.p.) significantly strengthened its position in terms of the total exports, while Hong Kong SAR and South Korea saw its share reduced by -2.5% and -10.8% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest candy, sweets, and nonchocolate confectionery supplier in Eastern Asia, comprising 75% of total exports. The second position in the ranking was held by Japan ($X), with a 7.3% share of total exports. It was followed by South Korea, with a 6.5% share.

From 2012 to 2022, the average annual growth rate of value in China amounted to +8.0%. In the other countries, the average annual rates were as follows: Japan (+9.1% per year) and South Korea (-0.6% per year).

Export Prices by Country

The export price in Eastern Asia stood at $X per ton in 2022, growing by 1.9% against the previous year. Over the last decade, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2016 when the export price increased by 16% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: 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 Taiwan (Chinese) (+3.3%), while the other leaders experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in Eastern Asia

In 2022, approx. X tons of candies, sweets, and nonchocolate confectionery were imported in Eastern Asia; approximately equating 2021 figures. The total import volume increased at an average annual rate of +3.5% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2018 with an increase of 18% against the previous year. The volume of import peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, candy, sweets, and nonchocolate confectionery imports stood at $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +5.9% 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 +22.6% against 2020 indices. The growth pace was the most rapid in 2021 with an increase of 22% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

China (X tons) and South Korea (X tons) represented the main importers of candies, sweets, and nonchocolate confectionery in 2022, finishing at approx. 32% and 28% of total imports, respectively. It was distantly followed by Japan (X tons), Hong Kong SAR (X tons) and Taiwan (Chinese) (X tons), together committing a 37% share of total imports. Macao SAR (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by South Korea (with a CAGR of +8.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest candy, sweets, and nonchocolate confectionery importing markets in Eastern Asia were China ($X), South Korea ($X) and Japan ($X), with a combined 78% share of total imports.

Among the main importing countries, China, with a CAGR of +13.0%, recorded 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, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. The pace of growth appeared the most rapid in 2020 when the import price increased by 20% against the previous year. The level of import peaked at $X per ton in 2021, and then declined slightly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Macao SAR ($X per ton), while Taiwan (Chinese) ($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 (+6.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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