Vietnam: Chocolate Market 2024

Chocolate Market Size in Vietnam

The Vietnamese chocolate market reached $X in 2022, with an increase of X% against the previous year. Overall, consumption, however, continues to indicate a abrupt slump. Chocolate consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Chocolate Production in Vietnam

In value terms, chocolate production totaled $X in 2022 estimated in export price. Overall, production, however, saw a abrupt decline. The most prominent rate of growth was recorded in 2020 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production failed to regain momentum.

Chocolate Exports

Exports from Vietnam

In 2022, the amount of chocolate and cocoa products exported from Vietnam surged to X tons, picking up by X% against the previous year's figure. Over the period under review, exports posted a buoyant expansion. The growth pace was the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, chocolate exports surged to $X in 2022. Overall, exports continue to indicate a remarkable increase. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Japan (X tons), the Netherlands (X tons) and South Korea (X tons) were the main destinations of chocolate exports from Vietnam, together comprising X% of total exports.

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

In value terms, the largest markets for chocolate exported from Vietnam were the Netherlands ($X), Japan ($X) and China ($X), together comprising X% of total exports.

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

Export Prices by Country

In 2022, the average chocolate export price amounted to $X per ton, therefore, remained relatively stable against the previous year. Overall, the export price recorded a mild decline. The pace of growth appeared the most rapid in 2013 when the average export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the highest price was recorded for prices to the Netherlands ($X per ton) and Australia ($X per ton), while the average price for exports to the Philippines ($X per ton) and South Korea ($X per ton) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate Imports

Imports into Vietnam

Chocolate imports into Vietnam skyrocketed to X tons in 2022, rising by X% compared with the previous year's figure. Overall, imports continue to indicate a buoyant expansion. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

In value terms, chocolate imports skyrocketed to $X in 2022. In general, imports continue to indicate a buoyant expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Malaysia (X tons), the United States (X tons) and China (X tons) were the main suppliers of chocolate imports to Vietnam, with a combined X% share of total imports. Indonesia, Russia, India, Germany, Singapore, Italy, Australia, Turkey, South Korea and Belgium lagged somewhat behind, together accounting for a further X%.

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

In value terms, the United States ($X), Malaysia ($X) and China ($X) were the largest chocolate suppliers to Vietnam, together accounting for X% of total imports. Russia, India, Germany, Indonesia, Italy, Australia, Singapore, Turkey, South Korea and Belgium lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, India, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average chocolate import price amounted to $X per ton, surging by X% against the previous year. In general, the import price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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