South-Eastern Asia: Market for Candies, Sweets, and Nonchocolate Confectionery 2024

Market Size for Candies, Sweets, and Nonchocolate Confectionery in South-Eastern Asia

The Southeast Asian market for candies, sweets, and nonchocolate confectionery reached $X in 2022, almost unchanged from the previous year. The market value increased at an average annual rate of +1.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. Over the period under review, the market hit record highs at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Production of Candies, Sweets, and Nonchocolate Confectionery in South-Eastern Asia

In value terms, candy, sweets, and nonchocolate confectionery production dropped to $X in 2022 estimated in export price. Over the period under review, production, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 with an increase of 12% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Exports of Candies, Sweets, and Nonchocolate Confectionery

Exports in South-Eastern Asia

Candy, sweets, and nonchocolate confectionery exports fell dramatically to X tons in 2022, waning by -16.9% on 2021 figures. Overall, exports continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2021 when exports increased by 12% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, candy, sweets, and nonchocolate confectionery exports contracted to $X in 2022. In general, exports saw a mild shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of 14% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Thailand was the largest exporting country with an export of around X tons, which recorded 36% of total exports. It was distantly followed by Indonesia (X tons), Malaysia (X tons), Vietnam (X tons), the Philippines (X tons) and Singapore (X tons), together creating a 64% share of total exports.

Thailand experienced a relatively flat trend pattern with regard to volume of exports of candies, sweets, and nonchocolate confectionery. At the same time, the Philippines (+2.2%) displayed positive paces of growth. Moreover, the Philippines emerged as the fastest-growing exporter exported in South-Eastern Asia, with a CAGR of +2.2% from 2012-2022. By contrast, Vietnam (-2.3%), Malaysia (-2.6%), Indonesia (-7.4%) and Singapore (-8.3%) illustrated a downward trend over the same period. While the share of Thailand (+9 p.p.) and the Philippines (+4.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Singapore (-5.7 p.p.) and Indonesia (-9.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X) remains the largest candy, sweets, and nonchocolate confectionery supplier in South-Eastern Asia, comprising 35% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 17% share of total exports. It was followed by Indonesia, with a 15% share.

From 2012 to 2022, the average annual growth rate of value in Thailand was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: Vietnam (+0.4% per year) and Indonesia (-5.3% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, increasing by 11% against the previous year. Over the last decade, it increased at an average annual rate of +2.0%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, major exporting countries recorded the following prices: in Vietnam ($X per ton) and Singapore ($X per ton), while Malaysia ($X per ton) and Indonesia ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Singapore (+5.4%), while the other leaders experienced more modest paces of growth.

Imports of Candies, Sweets, and Nonchocolate Confectionery

Imports in South-Eastern Asia

In 2022, purchases abroad of candies, sweets, and nonchocolate confectionery increased by 17% to X tons, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +32.3% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of 25% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, candy, sweets, and nonchocolate confectionery imports surged to $X in 2022. Total imports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +30.7% against 2020 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, the Philippines (X tons) represented the major importer of candies, sweets, and nonchocolate confectionery, making up 34% of total imports. Thailand (X tons) took the second position in the ranking, followed by Indonesia (X tons), Malaysia (X tons), Vietnam (X tons) and Singapore (X tons). All these countries together held approx. 61% share of total imports. Lao People's Democratic Republic (X tons) held a little share of total imports.

The Philippines was also the fastest-growing in terms of the candies, sweets, and nonchocolate confectionery imports, with a CAGR of +10.5% from 2012 to 2022. At the same time, Indonesia (+9.0%), Thailand (+6.8%), Vietnam (+4.7%) and Malaysia (+3.2%) displayed positive paces of growth. By contrast, Singapore (-2.4%) and Lao People's Democratic Republic (-3.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of the Philippines and Indonesia increased by +12 and +3.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Thailand ($X), the Philippines ($X) and Malaysia ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 55% share of total imports.

The Philippines, with a CAGR of +11.4%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in South-Eastern Asia amounted to $X per ton, surging by 1.6% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 8.4%. Over the period under review, import prices hit record highs at $X per ton in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Singapore ($X per ton), while the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Lao People's Democratic Republic (+6.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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