Myanmar: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in Myanmar

The Myanmar's market for chocolate bars with cereals, fruit or nuts reduced modestly to $X in 2022, dropping by -1.6% against the previous year. Overall, consumption, however, enjoyed resilient growth. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Chocolate Bars with Cereals, Fruit or Nuts in Myanmar

In value terms, production of chocolate bars with cereals, fruit or nuts fell to $X in 2022 estimated in export price. Over the period under review, production, however, showed resilient growth. The pace of growth appeared the most rapid in 2016 when the production volume increased by 36%. Production of peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Myanmar

In 2022, exports of chocolate bars with cereals, fruit or nuts from Myanmar rose rapidly to X tons, surging by 12% against 2021 figures. Over the period under review, exports showed significant growth. The most prominent rate of growth was recorded in 2018 with an increase of 42% against the previous year. The exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, exports of chocolate bars with cereals, fruit or nuts soared to $X in 2022. Overall, exports showed a significant expansion. The growth pace was the most rapid in 2018 when exports increased by 47%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Switzerland (X tons) was the main destination for exports of chocolate bars with cereals, fruit or nuts from Myanmar, with a 87% share of total exports. Moreover, exports of chocolate bars with cereals, fruit or nuts to Switzerland exceeded the volume sent to the second major destination, Luxembourg (X tons), sevenfold.

From 2012 to 2022, the average annual growth rate of volume to Switzerland was relatively modest.

In value terms, Switzerland ($X) emerged as the key foreign market for chocolate bars with cereals, fruit or nuts exports from Myanmar, comprising 89% of total exports. The second position in the ranking was taken by Luxembourg ($X), with an 11% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Switzerland was relatively modest.

Export Prices by Country

The average export price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, with an increase of 6.4% against the previous year. Overall, the export price showed a prominent expansion. The export price peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Switzerland ($X per ton), while the average price for exports to Luxembourg stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Luxembourg (-47.8%).

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into Myanmar

In 2022, after five years of growth, there was significant decline in purchases abroad of chocolate bars with cereals, fruit or nuts, when their volume decreased by -45% to X tons. Overall, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2014 when imports increased by 2,849% against the previous year. Imports peaked at X tons in 2021, and then contracted remarkably in the following year.

In value terms, imports of chocolate bars with cereals, fruit or nuts declined rapidly to $X in 2022. Over the period under review, imports, however, showed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 1,745% against the previous year. Over the period under review, imports of reached the peak figure at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

In 2022, Malaysia (X tons) constituted the largest cereal, fruit or nut chocolate bar supplier to Myanmar, accounting for a 75% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from Malaysia exceeded the figures recorded by the second-largest supplier, Indonesia (X tons), fivefold. The third position in this ranking was held by Turkey (X tons), with a 3.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Malaysia totaled +74.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+46.0% per year) and Turkey (+118.8% per year).

In value terms, Malaysia ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to Myanmar, comprising 67% of total imports. The second position in the ranking was held by Indonesia ($X), with a 22% share of total imports. It was followed by Singapore, with a 4.3% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +65.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Indonesia (+40.0% per year) and Singapore (+15.0% per year).

Import Prices by Country

In 2022, the average import price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, remaining stable against the previous year. Over the period under review, the import price saw a abrupt contraction. The most prominent rate of growth was recorded in 2016 when the average import price increased by 35%. Over the period under review, average import prices hit record highs 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 Thailand (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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