Nepal: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Nepal

The Nepalese chocolate and confectionery market dropped to $X in 2022, declining by -9% against the previous year. Overall, the total consumption indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of +1.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +10.7% against 2020 indices. Chocolate and confectionery consumption peaked at $X in 2017; however, from 2018 to 2022, consumption failed to regain momentum.

Chocolate And Confectionery Production in Nepal

In value terms, chocolate and confectionery production fell to $X in 2022 estimated in export price. Over the period under review, the total production indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +11.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the production volume increased by 38%. Chocolate and confectionery production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Chocolate And Confectionery Exports

Exports from Nepal

In 2022, shipments abroad of chocolate and confectionery increased by 0.5% to X tons, rising for the fourth consecutive year after six years of decline. Overall, exports enjoyed a significant increase. The growth pace was the most rapid in 2020 with an increase of 7,400% against the previous year. The exports peaked in 2022 and are expected to retain growth in years to come.

In value terms, chocolate and confectionery exports amounted to $X in 2022. In general, exports saw a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of 11,236% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

Exports by Country

China (X tons), India (X tons) and Canada (X tons) were the main destinations of chocolate and confectionery exports from Nepal, with a combined 90% share of total exports. These countries were followed by Australia, which accounted for a further 10%.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +336.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for chocolate and confectionery exported from Nepal were Canada ($X), Australia ($X) and India ($X), together accounting for 80% of total exports.

Australia, with a CAGR of +531.3%, 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 more modest paces of growth.

Export Prices by Country

In 2022, the average chocolate and confectionery export price amounted to $X per ton, flattening at the previous year. Overall, the export price continues to indicate a notable increase. The most prominent rate of growth was recorded in 2016 an increase of 93%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas 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 Australia (+44.5%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into Nepal

In 2022, the amount of chocolate and confectionery imported into Nepal shrank markedly to X tons, waning by -34.3% against the year before. Overall, imports, however, continue to indicate measured growth. The most prominent rate of growth was recorded in 2021 when imports increased by 145%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, chocolate and confectionery imports fell to $X in 2022. In general, imports, however, showed a resilient expansion. The pace of growth was the most pronounced in 2021 when imports increased by 138%. Imports peaked at $X in 2016; however, from 2017 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of chocolate and confectionery to Nepal, accounting for a 43% share of total imports. Moreover, chocolate and confectionery imports from India exceeded the figures recorded by the second-largest supplier, Turkey (X tons), threefold. The third position in this ranking was taken by the Netherlands (X tons), with a 10% share.

From 2012 to 2022, the average annual growth rate of volume from India totaled +6.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+15.6% per year) and the Netherlands (-1.8% per year).

In value terms, India ($X) constituted the largest supplier of chocolate and confectionery to Nepal, comprising 52% of total imports. The second position in the ranking was held by Turkey ($X), with an 8.1% share of total imports. It was followed by the Netherlands, with a 7.6% share.

From 2012 to 2022, the average annual growth rate of value from India amounted to +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.0% per year) and the Netherlands (+0.6% per year).

Import Prices by Country

In 2022, the average chocolate and confectionery import price amounted to $X per ton, picking up by 44% against the previous year. Over the period under review, import price indicated buoyant growth from 2012 to 2022: its price increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, chocolate and confectionery import price increased by +58.6% against 2019 indices. As a result, import price reached 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 the United States ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bangladesh (+24.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform