Indonesia: Chocolate Market 2024

Chocolate Market Size in Indonesia

The Indonesian chocolate market reduced modestly to $X in 2022, shrinking by -2.6% against the previous year. The market value increased at an average annual rate of +5.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Chocolate consumption peaked at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Indonesia

In value terms, chocolate production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.2% 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 2013 when the production volume increased by 44%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Chocolate Exports

Exports from Indonesia

Chocolate exports from Indonesia fell to X tons in 2022, waning by -9.4% on the previous year. Over the period under review, exports showed a perceptible slump. The most prominent rate of growth was recorded in 2021 when exports increased by 27% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, chocolate exports rose markedly to $X in 2022. Overall, exports recorded a pronounced decline. The most prominent rate of growth was recorded in 2021 with an increase of 21%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons), Malaysia (X tons) and Vietnam (X tons) were the main destinations of chocolate exports from Indonesia, with a combined 41% share of total exports. The United Arab Emirates, Canada, South Korea, Thailand, the Philippines, Singapore, Kuwait, Qatar, Saudi Arabia and Pakistan lagged somewhat behind, together accounting for a further 48%.

From 2012 to 2022, the biggest increases were recorded for Qatar (with a CAGR of +40.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X), Malaysia ($X) and Vietnam ($X) appeared to be the largest markets for chocolate exported from Indonesia worldwide, with a combined 38% share of total exports. These countries were followed by the United Arab Emirates, South Korea, China, Thailand, the Philippines, Singapore, Kuwait, Saudi Arabia, Qatar and Pakistan, which together accounted for a further 48%.

Among the main countries of destination, Qatar, with a CAGR of +44.1%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, growing by 20% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to China ($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 Qatar (+2.3%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Indonesia

In 2022, chocolate imports into Indonesia skyrocketed to X tons, rising by 32% compared with the previous year. Over the period under review, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by 55% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, chocolate imports skyrocketed to $X in 2022. In general, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.2% 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 +91.8% against 2020 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 74% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Singapore (X tons) constituted the largest supplier of chocolate to Indonesia, with a 35% share of total imports. Moreover, chocolate imports from Singapore exceeded the figures recorded by the second-largest supplier, Belgium (X tons), twofold. The third position in this ranking was taken by Malaysia (X tons), with a 13% share.

From 2012 to 2022, the average annual growth rate of volume from Singapore stood at +30.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Belgium (-12.4% per year) and Malaysia (-1.1% per year).

In value terms, the largest chocolate suppliers to Indonesia were Singapore ($X), Belgium ($X) and Malaysia ($X), together accounting for 57% of total imports.

In terms of the main suppliers, Singapore, with a CAGR of +33.1%, 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 average chocolate import price amounted to $X per ton, growing by 12% against the previous year. Over the last decade, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2020 an increase of 13%. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the immediate term.

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 France ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+5.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :