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

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

The Nepalese market for candies, sweets, and nonchocolate confectionery dropped to $X in 2022, which is down by -9.9% against the previous year. Over the period under review, consumption, however, posted a prominent increase. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2022, consumption remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in Nepal

In value terms, candy, sweets, and nonchocolate confectionery production reduced to $X in 2022 estimated in export price. Over the period under review, production, however, posted prominent growth. The pace of growth appeared the most rapid in 2014 when the production volume increased by 75% against the previous year. Over the period under review, production attained the maximum level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports from Nepal

In 2022, overseas shipments of candies, sweets, and nonchocolate confectionery increased by 172% to X tons, rising for the second consecutive year after three years of decline. In general, exports saw a strong expansion. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, candy, sweets, and nonchocolate confectionery exports surged to $X in 2022. Overall, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), China (X tons) and the United States (X tons) were the main destinations of candy, sweets, and nonchocolate confectionery exports from Nepal, with a combined 83% share of total exports. These countries were followed by Australia, which accounted for a further 14%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +31.6%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for candy, sweets, and nonchocolate confectionery exported from Nepal were the United States ($X), India ($X) and China ($X), with a combined 88% share of total exports. Australia lagged somewhat behind, comprising a further 7.1%.

Among the main countries of destination, Australia, with a CAGR of +35.6%, saw the highest growth rate of 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 export price for candies, sweets, and nonchocolate confectionery amounted to $X per ton, growing by 55% against the previous year. Overall, the export price continues to indicate a strong expansion. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

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 the United States ($X per ton), while the average price for exports to Australia ($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 China (+16.8%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports into Nepal

In 2022, the amount of candies, sweets, and nonchocolate confectionery imported into Nepal declined dramatically to X tons, falling by -49.8% on the year before. Overall, imports showed a deep setback. The pace of growth appeared the most rapid in 2016 when imports increased by 56% against the previous year. As a result, imports reached the peak of X tons. From 2017 to 2022, the growth of imports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery imports shrank markedly to $X in 2022. Over the period under review, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2016 when imports increased by 43%. As a result, imports attained the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of candy, sweets, and nonchocolate confectionery to Nepal, accounting for a 77% share of total imports. Moreover, candy, sweets, and nonchocolate confectionery imports from India exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold. The third position in this ranking was taken by Bangladesh (X tons), with a 2.8% share.

From 2012 to 2022, the average annual growth rate of volume from India amounted to -7.0%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-13.3% per year) and Bangladesh (-8.1% per year).

In value terms, India ($X) constituted the largest supplier of candies, sweets, and nonchocolate confectionery to Nepal, comprising 72% of total imports. The second position in the ranking was taken by China ($X), with a 9% share of total imports. It was followed by Vietnam, with a 3.2% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to -7.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-7.9% per year) and Vietnam (+36.3% per year).

Import Prices by Country

The average import price for candies, sweets, and nonchocolate confectionery stood at $X per ton in 2022, rising by 10% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price attained the peak level and is likely to continue 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 Vietnam ($X per ton), while the price for Malaysia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+9.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform