Southern Asia: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Southern Asia

The South Asian chocolate and confectionery market was estimated at $X in 2022, remaining relatively unchanged against the previous year. The market value increased at an average annual rate of +5.3% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level in 2022 and is likely to see gradual growth in the immediate term.

Chocolate And Confectionery Production in Southern Asia

In value terms, chocolate and confectionery production reached $X in 2022 estimated in export price. The total production indicated strong growth from 2012 to 2022: its value 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, production decreased by -0.6% against 2020 indices. The growth pace was the most rapid in 2013 with an increase of 27%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Chocolate And Confectionery Exports

Exports in Southern Asia

In 2022, exports of chocolate and confectionery in Southern Asia rose rapidly to X tons, with an increase of 12% compared with 2021. Total exports indicated a buoyant expansion from 2012 to 2022: its volume increased at an average annual rate of +9.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +29.3% against 2020 indices. The most prominent rate of growth was recorded in 2014 with an increase of 30%. The volume of export peaked in 2022 and is likely to see gradual growth in the near future.

In value terms, chocolate and confectionery exports shrank to $X in 2022. In general, exports recorded a resilient expansion. The growth pace was the most rapid in 2014 with an increase of 51%. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

India prevails in exports structure, accounting for X tons, which was near 87% of total exports in 2022. Sri Lanka (X tons) ranks second in terms of the total exports with a 4.7% share, followed by Bangladesh (4.5%). Pakistan (X tons) held a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to chocolate and confectionery exports from India stood at +9.2%. At the same time, Bangladesh (+44.3%) and Pakistan (+24.8%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of +44.3% from 2012-2022. Sri Lanka experienced a relatively flat trend pattern. From 2012 to 2022, the share of Bangladesh and Pakistan increased by +4.2 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest chocolate and confectionery supplier in Southern Asia, comprising 87% of total exports. The second position in the ranking was held by Sri Lanka ($X), with a 7.6% share of total exports. It was followed by Bangladesh, with a 3.7% share.

In India, chocolate and confectionery exports expanded at an average annual rate of +11.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Sri Lanka (+6.0% per year) and Bangladesh (+53.0% per year).

Export Prices by Country

In 2022, the export price in Southern Asia amounted to $X per ton, shrinking by -11.5% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The most prominent rate of growth was recorded in 2013 an increase of 34% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sri Lanka ($X per ton), while Pakistan ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Sri Lanka (+6.5%), while the other leaders experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports in Southern Asia

In 2022, supplies from abroad of chocolate and confectionery increased by 17% to X tons, rising for the second consecutive year after two years of decline. Overall, imports posted a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 42% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in years to come.

In value terms, chocolate and confectionery imports skyrocketed to $X in 2022. In general, imports enjoyed a strong expansion. The most prominent rate of growth was recorded in 2021 with an increase of 53% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see steady growth in the near future.

Imports by Country

India represented the main importer of chocolate and confectionery in Southern Asia, with the volume of imports amounting to X tons, which was near 72% of total imports in 2022. Pakistan (X tons) took the second position in the ranking, followed by Bangladesh (X tons). All these countries together held approx. 18% share of total imports. Sri Lanka (X tons), Nepal (X tons), Afghanistan (X tons) and Maldives (X tons) followed a long way behind the leaders.

Imports into India increased at an average annual rate of +12.7% from 2012 to 2022. At the same time, Bangladesh (+15.3%), Pakistan (+11.3%), Maldives (+5.2%), Nepal (+4.7%), Afghanistan (+4.0%) and Sri Lanka (+1.4%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of +15.3% from 2012-2022. While the share of India (+8.9 p.p.) and Bangladesh (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Afghanistan (-2 p.p.), Nepal (-2 p.p.) and Sri Lanka (-5.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported chocolate and confectionery in Southern Asia, comprising 71% of total imports. The second position in the ranking was held by Pakistan ($X), with an 11% share of total imports. It was followed by Bangladesh, with a 6% share.

In India, chocolate and confectionery imports increased at an average annual rate of +11.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Pakistan (+10.0% per year) and Bangladesh (+17.6% per year).

Import Prices by Country

The import price in Southern Asia stood at $X per ton in 2022, rising by 8.9% against the previous year. Overall, the import price, however, continues to indicate a slight shrinkage. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, 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 2022, the most notable rate of growth in terms of prices was attained by Nepal (+5.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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