Myanmar: Chocolate Market 2024

Chocolate Market Size in Myanmar

In 2022, the Myanmar's chocolate market decreased by 0% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, showed a abrupt descent. Over the period under review, the market reached the peak level at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Chocolate Production in Myanmar

In value terms, chocolate production reached $X in 2022 estimated in export price. Overall, production, however, recorded a perceptible reduction. The pace of growth appeared the most rapid in 2020 with an increase of 44% against the previous year. Over the period under review, production attained the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports from Myanmar

For the third year in a row, Myanmar recorded decline in shipments abroad of chocolate and cocoa products, which decreased by 0% to X tons in 2022. In general, exports enjoyed a significant expansion. The pace of growth was the most pronounced in 2019 with an increase of 59%. As a result, the exports reached the peak of X tons. From 2020 to 2022, the growth of the exports remained at a lower figure.

In value terms, chocolate exports stood at $X in 2022. Over the period under review, exports saw significant growth. The pace of growth appeared the most rapid in 2019 with an increase of 118%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

China (X tons) was the main destination for chocolate exports from Myanmar, accounting for a 78% share of total exports. Moreover, chocolate exports to China exceeded the volume sent to the second major destination, Guatemala (X kg), sixfold.

From 2013 to 2022, the average annual rate of growth in terms of volume to China stood at +187.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Guatemala (0.0% per year) and Germany (-78.8% per year).

In value terms, the largest markets for chocolate exported from Myanmar were Germany ($X), China ($X) and Guatemala ($X), together accounting for 88% of total exports.

China, with a CAGR of +271.8%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average chocolate export price stood at $X per ton in 2022, approximately mirroring the previous year. In general, the export price faced a abrupt slump. The most prominent rate of growth was recorded in 2019 when the average export price increased by 37%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Germany (+175.7%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Myanmar

In 2022, purchases abroad of chocolate and cocoa products decreased by -21.7% to X tons, falling for the third consecutive year after eight years of growth. In general, imports, however, continue to indicate a significant expansion. The pace of growth appeared the most rapid in 2013 when imports increased by 302%. Over the period under review, imports reached the maximum at X tons in 2019; however, from 2020 to 2022, imports failed to regain momentum.

In value terms, chocolate imports contracted sharply to $X in 2022. Over the period under review, imports, however, saw a significant increase. The pace of growth appeared the most rapid in 2013 with an increase of 125%. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest supplier of chocolate to Myanmar, with a 50% share of total imports. Moreover, chocolate imports from Malaysia exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), threefold. Thailand (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual growth rate of volume from Malaysia amounted to +50.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+66.4% per year) and Thailand (+18.4% per year).

In value terms, Malaysia ($X) constituted the largest supplier of chocolate and cocoa products to Myanmar, comprising 41% of total imports. The second position in the ranking was held by Vietnam ($X), with a 19% share of total imports. It was followed by Indonesia, with a 9.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Malaysia amounted to +33.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (+68.3% per year) and Indonesia (+28.0% per year).

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, shrinking by -2.1% against the previous year. In general, the import price recorded a deep setback. The growth pace was the most rapid in 2017 an increase of 30% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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