Singapore: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Singapore

The Singaporean chocolate bar with filling market contracted to $X in 2021, falling by -12.1% against the previous year. Overall, consumption continues to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of 8.2%. Chocolate bar with filling consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Chocolate Bars With Fillings in Singapore

In value terms, chocolate bar with filling production declined notably to $X in 2021 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the production volume increased by 290%. As a result, production attained the peak level of $X, and then contracted sharply in the following year.

Exports of Chocolate Bars With Fillings

Exports from Singapore

In 2021, the amount of chocolate bars with fillings exported from Singapore surged to X tons, with an increase of 21% on 2020. Over the period under review, total exports indicated temperate growth from 2012 to 2021: its volume increased at an average annual rate of +4.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports decreased by -15.0% against 2019 indices. The pace of growth was the most pronounced in 2013 with an increase of 54%. The exports peaked at X tons in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

In value terms, chocolate bar with filling exports soared to $X in 2021. In general, exports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 with an increase of 39%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Hong Kong SAR (X tons) was the main destination for chocolate bar with filling exports from Singapore, with a 44% share of total exports. Moreover, chocolate bar with filling exports to Hong Kong SAR exceeded the volume sent to the second major destination, the United States (X tons), twofold. The third position in this ranking was held by Malaysia (X tons), with an 11% share.

From 2012 to 2021, the average annual growth rate of volume to Hong Kong SAR totaled +21.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+37.4% per year) and Malaysia (-0.8% per year).

In value terms, Hong Kong SAR ($X) remains the key foreign market for chocolate bars with fillings exports from Singapore, comprising 56% of total exports. The second position in the ranking was taken by Malaysia ($X), with a 12% share of total exports. It was followed by the United States, with an 11% share.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR amounted to +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (-2.1% per year) and the United States (+43.8% per year).

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2021, rising by 4.2% against the previous year. Over the period under review, the export price, however, recorded a noticeable decrease. The most prominent rate of growth was recorded in 2018 an increase of 6.8% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, 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 Hong Kong SAR ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+4.7%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Chocolate Bars With Fillings

Imports into Singapore

In 2021, after three years of decline, there was significant growth in overseas purchases of chocolate bars with fillings, when their volume increased by 18% to X tons. Overall, imports, however, saw a noticeable reduction. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, chocolate bar with filling imports soared to $X in 2021. Over the period under review, imports, however, saw a pronounced reduction. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), Italy (X tons) and the Netherlands (X tons) were the main suppliers of chocolate bar with filling imports to Singapore, together comprising 48% of total imports. These countries were followed by Russia, Switzerland, Germany, Malaysia, Australia, Japan, the UK, Belgium, China and Turkey, which together accounted for a further 47%.

From 2012 to 2021, the biggest increases were recorded for Russia (with a CAGR of +151.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), the United States ($X) and Switzerland ($X) appeared to be the largest chocolate bar with filling suppliers to Singapore, together comprising 54% of total imports. Germany, Russia, the Netherlands, Australia, Malaysia, Japan, the UK, Belgium, China and Turkey lagged somewhat behind, together accounting for a further 39%.

Russia, with a CAGR of +144.2%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2021, the average chocolate bar with filling import price amounted to $X per ton, growing by 6.5% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+6.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :