Eastern Asia: Sugary Soft Drink Market 2024

Sugary Soft Drink Market Size in Eastern Asia

The East Asian sugary soft drink market reached $X in 2022, flattening at the previous year. In general, consumption, however, saw a mild decline. The pace of growth appeared the most rapid in 2017 with an increase of 8.2%. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Sugary Soft Drink Production in Eastern Asia

In value terms, sugary soft drink production totaled $X in 2022 estimated in export price. Over the period under review, production, however, showed a mild decline. The most prominent rate of growth was recorded in 2017 with an increase of 8.6%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Sugary Soft Drink Exports

Exports in Eastern Asia

Sugary soft drink exports rose modestly to X litres in 2022, increasing by 4.4% against 2021. The total export volume increased at an average annual rate of +4.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 with an increase of 16% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, sugary soft drink exports stood at $X in 2022. Total exports indicated a strong increase from 2012 to 2022: its value increased at an average annual rate of +6.1% 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 +50.2% against 2016 indices. The pace of growth was the most pronounced in 2021 when exports increased by 22% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

Exports by Country

South Korea (X litres) and China (X litres) were the largest exporters of sugary soft drinks in 2022, reaching approx. 45% and 31% of total exports, respectively. It was distantly followed by Japan (X litres), Hong Kong SAR (X litres) and Taiwan (Chinese) (X litres), together achieving a 25% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of +9.5%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, South Korea ($X), Japan ($X) and China ($X) constituted the countries with the highest levels of exports in 2022, with a combined 91% share of total exports.

South Korea, with a CAGR of +10.1%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Eastern Asia stood at $X per litre in 2022, waning by -2.7% against the previous year. Over the last decade, it increased at an average annual rate of +1.7%. The pace of growth was the most pronounced in 2014 an increase of 8.7%. Over the period under review, the export prices reached the peak figure at $X per litre in 2021, and then dropped slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Japan ($X per litre), while China ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+2.5%), while the other leaders experienced more modest paces of growth.

Sugary Soft Drink Imports

Imports in Eastern Asia

In 2022, after five years of growth, there was significant decline in purchases abroad of sugary soft drinks, when their volume decreased by -28.2% to X litres. Overall, imports, however, continue to indicate a temperate increase. The most prominent rate of growth was recorded in 2020 with an increase of 29%. The volume of import peaked at X litres in 2021, and then shrank markedly in the following year.

In value terms, sugary soft drink imports reduced remarkably to $X in 2022. In general, imports, however, saw resilient growth. The most prominent rate of growth was recorded in 2017 when imports increased by 35%. The level of import peaked at $X in 2021, and then reduced sharply in the following year.

Imports by Country

China represented the key importing country with an import of around X litres, which resulted at 50% of total imports. Hong Kong SAR (X litres) held the second position in the ranking, followed by Macao SAR (X litres), South Korea (X litres) and Japan (X litres). All these countries together took near 46% share of total imports. Taiwan (Chinese) (X litres) held a minor share of total imports.

China was also the fastest-growing in terms of the sugary soft drinks imports, with a CAGR of +32.0% from 2012 to 2022. At the same time, Taiwan (Chinese) (+12.5%), South Korea (+2.1%) and Hong Kong SAR (+1.1%) displayed positive paces of growth. By contrast, Macao SAR (-1.3%) and Japan (-10.8%) illustrated a downward trend over the same period. While the share of China (+46 p.p.) and Taiwan (Chinese) (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (-1.8 p.p.), Hong Kong SAR (-3.9 p.p.), Macao SAR (-6.9 p.p.) and Japan (-33.7 p.p.) displayed negative dynamics.

In value terms, China ($X) constitutes the largest market for imported sugary soft drinks in Eastern Asia, comprising 54% of total imports. The second position in the ranking was held by South Korea ($X), with a 14% share of total imports. It was followed by Japan, with an 11% share.

In China, sugary soft drink imports expanded at an average annual rate of +33.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: South Korea (+2.9% per year) and Japan (-7.6% per year).

Import Prices by Country

In 2022, the import price in Eastern Asia amounted to $X per litre, approximately mirroring the previous year. Over the last decade, it increased at an average annual rate of +2.0%. The pace of growth appeared the most rapid in 2017 an increase of 7.5% against the previous year. The level of import peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was South Korea ($X per litre), while Hong Kong SAR ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+3.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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