Asia-Pacific: Chocolate Market 2024

Chocolate Market Size in Asia-Pacific

After two years of decline, the Asia-Pacific chocolate market increased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Chocolate Production in Asia-Pacific

In value terms, chocolate production fell slightly to $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; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Chocolate Exports

Exports in Asia-Pacific

In 2022, the amount of chocolate and cocoa products exported in Asia-Pacific reached X tons, increasing by X% compared with the year before. The total export volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of X%. The volume of export peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, chocolate exports rose markedly to $X in 2022. The total export 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. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the near future.

Exports by Country

The shipments of the eight major exporters of chocolate and cocoa products, namely Singapore, Malaysia, China, Australia, South Korea, Thailand, Indonesia and India, represented more than two-thirds of total export.

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 ($X), China ($X) and Malaysia ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports. Australia, India, Indonesia, South Korea and Thailand lagged somewhat behind, together comprising a further X%.

Thailand, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Asia-Pacific amounted to $X per ton, growing by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 China ($X per ton), while South Korea ($X per ton) was amongst the lowest.

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

Chocolate Imports

Imports in Asia-Pacific

Chocolate imports totaled X tons in 2022, almost unchanged from the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, chocolate imports expanded significantly to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked in 2022 and is expected to retain growth in years to come.

Imports by Country

In 2022, Japan (X tons), distantly followed by China (X tons), Australia (X tons), South Korea (X tons), the Philippines (X tons) and Malaysia (X tons) were the key importers of chocolate and cocoa products, together generating X% of total imports. Hong Kong SAR (X tons), Singapore (X tons), New Zealand (X tons), Thailand (X tons), India (X tons), Indonesia (X tons) and Taiwan (Chinese) (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the Philippines (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Australia ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. South Korea, Hong Kong SAR, Singapore, the Philippines, Malaysia, New Zealand, Thailand, Taiwan (Chinese), Indonesia and India lagged somewhat behind, together accounting for a further X%.

The Philippines, with a CAGR of X%, saw the highest growth rate of 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 Asia-Pacific stood at $X per ton in 2022, picking up by X% against the previous year. Over the period under review, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Hong Kong SAR ($X per ton), while Japan ($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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