Vietnam: Caramel Market 2022

Caramel Market Size in Vietnam

The Vietnamese caramel market surged to $X in 2020, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded resilient growth. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Caramel consumption peaked in 2020 and is expected to retain growth in the immediate term.

Caramel Exports

Exports from Vietnam

In 2020, overseas shipments of caramel decreased by -X% to X tons for the first time since 2017, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2010 when exports increased by X% against the previous year. As a result, exports reached the peak of X tons. from 2011 to 2020, the growth exports remained at a lower figure.

In value terms, caramel exports reduced to $X in 2020. In general, exports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2010 with an increase of X% year-to-year. As a result, exports reached the peak of $X. from 2011 to 2020, the growth exports failed to regain the momentum.

Exports by Country

China (X tons) was the main destination for caramel exports from Vietnam, with a X% share of total exports. Moreover, caramel exports to China exceeded the volume sent to the second major destination, the U.S. (X tons), more than tenfold.

From 2007 to 2020, the average annual growth rate of volume to China amounted to +X%.

In value terms, China ($X) emerged as the key foreign market for caramel exports from Vietnam, comprising X% of total exports. The second position in the ranking was occupied by the U.S. ($X), with a X% share of total exports.

From 2007 to 2020, the average annual growth rate of value to China totaled +X%.

Export Prices by Country

The average caramel export price stood at $X per ton in 2020, increasing by X% against the previous year. Overall, export price indicated tangible growth from 2007 to 2020: its price increased at an average annual rate of +X% over the last thirteen years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2020 figures, caramel export price decreased by -X% against 2018 indices. The pace of growth appeared the most rapid in 2010 when the average export price increased by X% against the previous year. Over the period under review, average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2020, export prices failed to regain the momentum.

Average prices varied noticeably for the major overseas markets. In 2020, the country with the highest price was the U.S. ($X per ton), while the average price for exports to China stood at $X per ton.

From 2007 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to China.

Caramel Imports

Imports into Vietnam

In 2020, imports of caramel into Vietnam soared to X tons, jumping by X% on the year before. Overall, imports showed a buoyant expansion. The most prominent rate of growth was recorded in 2009 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2020 and are expected to retain growth in years to come.

In value terms, caramel imports expanded remarkably to $X in 2020. In general, imports showed prominent growth. The most prominent rate of growth was recorded in 2008 with an increase of X% year-to-year. Imports peaked at $X in 2011; however, from 2012 to 2020, imports stood at a somewhat lower figure.

Imports by Country

In 2020, China (X tons) constituted the largest supplier of caramel to Vietnam, accounting for a X% share of total imports. Moreover, caramel imports from China exceeded the figures recorded by the second-largest supplier, South Korea (X tons), threefold. The third position in this ranking was occupied by Malaysia (X tons), with a X% share.

From 2007 to 2020, the average annual growth rate of volume from China totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (+X% per year) and Malaysia (+X% per year).

In value terms, China ($X) constituted the largest supplier of caramel to Vietnam, comprising X% of total imports. The second position in the ranking was occupied by Malaysia ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2007 to 2020, the average annual rate of growth in terms of value from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Malaysia (+X% per year) and South Korea (+X% per year).

Import Prices by Country

In 2020, the average caramel import price amounted to $X per ton, with a decrease of -X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2008 an increase of X% year-to-year. Over the period under review, average import prices hit record highs at $X per ton in 2010; however, from 2011 to 2020, import prices failed to regain the momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2020, the country with the highest price was the U.S. ($X per ton), while the price for South Korea ($X per ton) was amongst the lowest.

From 2007 to 2020, the most notable rate of growth in terms of prices was attained by the U.S., while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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