Asia-Pacific: Chocolate Market 2024

Chocolate Market Size in Asia-Pacific

In 2022, the Asia-Pacific chocolate market increased by X% to $X, rising for the third consecutive year after two years of decline. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Chocolate Production in Asia-Pacific

In value terms, chocolate production reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Chocolate Exports

Exports in Asia-Pacific

After two years of growth, overseas shipments of chocolate and other food preparations containing cocoa decreased by X% to X tons in 2022. The total export volume increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of export peaked at X tons in 2021, and then contracted slightly in the following year.

In value terms, chocolate exports rose markedly to $X in 2022. The total export value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Singapore was the major exporter of chocolate and other food preparations containing cocoa in Asia-Pacific, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. Malaysia (X tons) ranks second in terms of the total exports with a X% share, followed by Australia (X%), Indonesia (X%) and Thailand (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Thailand (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Singapore ($X) remains the largest chocolate supplier in Asia-Pacific, comprising X% of total exports. The second position in the ranking was held by Australia ($X), with an X% share of total exports. It was followed by Malaysia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Singapore amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Australia (X% per year) and Malaysia (X% per year).

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, increasing by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

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

Chocolate Imports

Imports in Asia-Pacific

In 2022, overseas purchases of chocolate and other food preparations containing cocoa increased by X% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see steady growth in the immediate term.

In value terms, chocolate imports amounted to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to continue growth in the immediate term.

Imports by Country

Japan represented the major importer of chocolate and other food preparations containing cocoa in Asia-Pacific, with the volume of imports recording X tons, which was approx. X% of total imports in 2022. China (X tons) held the second position in the ranking, followed by South Korea (X tons) and Malaysia (X tons). All these countries together took approx. X% share of total imports. Australia (X tons), Thailand (X tons), the Philippines (X tons), India (X tons), Pakistan (X tons) and Indonesia (X tons) followed a long way behind the leaders.

Japan experienced a relatively flat trend pattern with regard to volume of imports of chocolate and other food preparations containing cocoa. At the same time, China (X%), the Philippines (X%), Pakistan (X%), Malaysia (X%), India (X%), Indonesia (X%), Thailand (X%) and South Korea (X%) displayed positive paces of growth. Moreover, China emerged as the fastest-growing importer imported in Asia-Pacific, with a CAGR of X% from 2012-2022. Australia experienced a relatively flat trend pattern. While the share of China (X p.p.), Malaysia (X p.p.) and the Philippines (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of South Korea (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Japan ($X) constitutes the largest market for imported chocolate and other food preparations containing cocoa in Asia-Pacific, comprising X% of total imports. The second position in the ranking was held by China ($X), with a X% share of total imports. It was followed by South Korea, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Japan amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: China (X% per year) and South Korea (X% per year).

Import Prices by Country

In 2022, the import price in Asia-Pacific amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton; afterwards, it flattened through to 2022.

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

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

Source: IndexBox Platform

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