Malaysia: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in Malaysia

The Malaysian market for candies, sweets, and nonchocolate confectionery soared to $X in 2022, with an increase of 21% against the previous year. Over the period under review, consumption, however, saw a mild descent. Candy, sweets, and nonchocolate confectionery consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Malaysia

In value terms, candy, sweets, and nonchocolate confectionery production shrank to $X in 2022 estimated in export price. In general, production, however, recorded a noticeable setback. The pace of growth appeared the most rapid in 2013 when the production volume increased by 5.3% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Malaysia

In 2022, the amount of candies, sweets, and nonchocolate confectionery exported from Malaysia shrank notably to X tons, with a decrease of -35.5% on 2021. In general, exports recorded a pronounced contraction. The most prominent rate of growth was recorded in 2013 when exports increased by 21% against the previous year. The exports peaked at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, candy, sweets, and nonchocolate confectionery exports declined dramatically to $X in 2022. Overall, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of 20%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Myanmar (X tons) was the main destination for candy, sweets, and nonchocolate confectionery exports from Malaysia, with a approx. 100% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of volume to Myanmar amounted to +128.2%.

In value terms, Myanmar ($X) emerged as the key foreign market for candies, sweets, and nonchocolate confectionery exports from Malaysia.

From 2012 to 2022, the average annual growth rate of value to Myanmar totaled +125.5%.

Export Prices by Country

The average export price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, with an increase of 11% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.3%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for Myanmar.

From 2012 to 2022, the rate of growth in terms of prices for Hong Kong SAR amounted to +5.4% per year.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Malaysia

In 2022, supplies from abroad of candies, sweets, and nonchocolate confectionery increased by 56% to X tons, rising for the second year in a row after two years of decline. Overall, total imports indicated temperate growth from 2012 to 2022: its volume 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 +64.8% against 2020 indices. Over the period under review, imports reached the peak figure at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports soared to $X in 2022. Over the period under review, total imports indicated perceptible growth from 2012 to 2022: its value increased at an average annual rate of +3.9% 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 +81.1% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest candy, sweets, and nonchocolate confectionery supplier to Malaysia, accounting for a 79% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from China exceeded the figures recorded by the second-largest supplier, Singapore (X tons), more than tenfold. The third position in this ranking was held by the Philippines (X tons), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +10.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+0.3% per year) and the Philippines (+1.3% per year).

In value terms, China ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Malaysia, comprising 73% of total imports. The second position in the ranking was held by Singapore ($X), with a 7.8% share of total imports. It was followed by the Philippines, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value from China totaled +13.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+1.3% per year) and the Philippines (+3.4% per year).

Import Prices by Country

In 2022, the average import price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, growing by 9.1% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the average import price increased by 14%. Over the period under review, average import prices attained the maximum in 2022 and is expected to retain growth in the near future.

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 Singapore ($X per ton), while the price for Turkey ($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 (+2.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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