Southern Asia: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Southern Asia

In 2021, the South Asian chocolate bar with filling market decreased by -5.1% to $X for the first time since 2015, thus ending a five-year rising trend. The market value increased at an average annual rate of +3.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X, and then shrank in the following year.

Production of Chocolate Bars With Fillings in Southern Asia

In value terms, chocolate bar with filling production fell to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +3.1% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when the production volume increased by 15%. As a result, production reached the peak level of $X, and then declined in the following year.

Exports of Chocolate Bars With Fillings

Exports in Southern Asia

In 2021, overseas shipments of chocolate bars with fillings increased by 60% to X tons for the first time since 2017, thus ending a three-year declining trend. In general, exports recorded a remarkable increase. The most prominent rate of growth was recorded in 2017 with an increase of 125%. As a result, the exports reached the peak of X tons. From 2018 to 2021, the growth of the exports remained at a lower figure.

In value terms, chocolate bar with filling exports surged to $X in 2021. Over the period under review, exports continue to indicate a significant increase. The pace of growth was the most pronounced in 2017 with an increase of 203% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India prevails in exports structure, finishing at X tons, which was approx. 88% of total exports in 2021. It was distantly followed by Sri Lanka (X tons), mixing up a 9.4% share of total exports. Bangladesh (X tons) followed a long way behind the leaders.

India was also the fastest-growing in terms of the chocolate bars with fillings exports, with a CAGR of +24.1% from 2012 to 2021. At the same time, Sri Lanka (+21.3%) and Bangladesh (+18.5%) displayed positive paces of growth. From 2012 to 2021, the share of India and Sri Lanka increased by +35 and +2.5 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest chocolate bar with filling supplier in Southern Asia, comprising 90% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 7.7% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in India stood at +33.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Sri Lanka (+8.5% per year) and Bangladesh (+26.6% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2021, declining by -5.4% against the previous year. In general, the export price, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2017 when the export price increased by 34%. Over the period under review, the export prices attained the maximum at $X per ton in 2020, and then fell in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+7.8%), while the other leaders experienced mixed trends in the export price figures.

Imports of Chocolate Bars With Fillings

Imports in Southern Asia

In 2021, chocolate bar with filling imports in Southern Asia soared to X tons, surging by 59% compared with 2020. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 when imports increased by 307%. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, chocolate bar with filling imports surged to $X in 2021. Overall, imports showed a buoyant increase. The pace of growth appeared the most rapid in 2013 with an increase of 283% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports stood at a somewhat lower figure.

Imports by Country

India (X tons) and Afghanistan (X tons) represented roughly 61% of total imports in 2021. Bangladesh (X tons) held an 11% share (based on physical terms) of total imports, which put it in second place, followed by Nepal (10%), Maldives (9.1%) and Sri Lanka (8.7%).

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nepal (with a CAGR of +68.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest chocolate bar with filling importing markets in Southern Asia were India ($X), Afghanistan ($X) and Maldives ($X), together comprising 71% of total imports. Nepal, Bangladesh and Sri Lanka lagged somewhat behind, together accounting for a further 28%.

Nepal, with a CAGR of +67.5%, saw 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

The import price in Southern Asia stood at $X per ton in 2021, increasing by 7.6% against the previous year. In general, the import price, however, saw a perceptible decline. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Maldives (+3.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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