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

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

The Nepalese market for chocolate bars with cereals, fruit or nuts fell modestly to $X in 2022, approximately reflecting the previous year. Over the period under review, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -2.4% against 2019 indices. Consumption of peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

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

In value terms, production of chocolate bars with cereals, fruit or nuts dropped slightly to $X in 2022 estimated in export price. In general, the total production indicated a noticeable expansion from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -6.7% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 51% against the previous year. As a result, production reached the peak level of $X. From 2014 to 2022, production of growth failed to regain momentum.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from Nepal

For the fourth consecutive year, Nepal recorded growth in shipments abroad of chocolate bars with cereals, fruit or nuts, which increased by 294% to X tons in 2022. In general, exports, however, continue to indicate a abrupt decrease. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, exports of chocolate bars with cereals, fruit or nuts surged to $X in 2022. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Canada (X kg), Australia (X kg) and China (X kg) were the main destinations of exports of chocolate bars with cereals, fruit or nuts from Nepal, together comprising 100% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Australia (with a CAGR of 0.0%), while the other leaders experienced mixed trend patterns.

In value terms, Canada ($X) emerged as the key foreign market for chocolate bars with cereals, fruit or nuts exports from Nepal, comprising 64% of total exports. The second position in the ranking was held by Australia ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (0.0% per year) and China (-24.1% per year).

Export Prices by Country

The average export price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, growing by 41% against the previous year. Over the period under review, the export price showed a buoyant increase. The pace of growth appeared the most rapid in 2016 when the average export price increased by 176%. 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 export 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 China (-2.3%).

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into Nepal

For the fifth consecutive year, Nepal recorded growth in overseas purchases of chocolate bars with cereals, fruit or nuts, which increased by 87% to X tons in 2022. Overall, imports enjoyed significant growth. The pace of growth appeared the most rapid in 2020 when imports increased by 503% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, imports of chocolate bars with cereals, fruit or nuts skyrocketed to $X in 2022. Over the period under review, imports enjoyed a significant expansion. The growth pace was the most rapid in 2020 when imports increased by 549% against the previous year. Imports peaked in 2022 and are likely to see steady growth in the near future.

Imports by Country

In 2022, India (X tons) constituted the largest supplier of cereal, fruit or nut chocolate bar to Nepal, accounting for a 82% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from India exceeded the figures recorded by the second-largest supplier, Turkey (X tons), more than tenfold. The United States (X tons) ranked third in terms of total imports with a 3.9% share.

From 2012 to 2022, the average annual growth rate of volume from India stood at +56.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (+16.1% per year) and the United States (+49.1% per year).

In value terms, India ($X) constituted the largest supplier of chocolate bars with cereals, fruit or nuts to Nepal, comprising 81% of total imports. The second position in the ranking was taken by the United States ($X), with a 7.2% share of total imports. It was followed by Turkey, with a 3.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from India amounted to +50.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+49.5% per year) and Turkey (+14.1% per year).

Import Prices by Country

The average import 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, import price indicated modest growth from 2012 to 2022: its price increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for chocolate bars with cereals, fruit or nuts decreased by -0.6% against 2018 indices. The growth pace was the most rapid in 2017 when the average import price increased by 34% against the previous year. The import price peaked at $X per ton in 2018; afterwards, it flattened through to 2022.

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 (+23.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform