Asia: Chocolate Market 2024

Chocolate Market Size in Asia

The Asian chocolate market was finally on the rise to reach $X in 2022, after two years of decline. The market 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. Over the period under review, the market attained the peak level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Chocolate Production in Asia

In value terms, chocolate production fell slightly to $X in 2022 estimated in export price. The total production indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2017 when the production volume increased by X%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Chocolate Exports

Exports in Asia

Chocolate exports expanded markedly to X tons in 2022, rising by X% on 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 in certain years. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are likely to see steady growth in years to come.

In value terms, chocolate exports soared 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 throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

In 2022, Turkey (X tons), distantly followed by Singapore (X tons), the United Arab Emirates (X tons), Malaysia (X tons) and China (X tons) were the major exporters of chocolate and cocoa products, together committing X% of total exports. South Korea (X tons), Thailand (X tons), Indonesia (X tons), India (X tons) and Iran (X tons) took a minor share of total exports.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Iran (X%), Thailand (X%), India (X%), Malaysia (X%), the United Arab Emirates (X%), China (X%), Indonesia (X%), South Korea (X%) and Singapore (X%) displayed positive paces of growth. Moreover, Iran emerged as the fastest-growing exporter exported in Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Thailand, Malaysia and Iran increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Singapore ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. China, Malaysia, India, Indonesia, South Korea, Thailand and Iran lagged somewhat behind, together comprising a further X%.

Iran, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, among 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

The export price in Asia stood at $X per ton in 2022, surging by X% against the previous year. In general, 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

In 2022, approx. X tons of chocolate and cocoa products were imported in Asia; growing by X% on 2021 figures. The total import 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 in certain years. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, chocolate imports rose notably to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Imports by Country

In 2022, Japan (X tons), followed by the United Arab Emirates (X tons), China (X tons), Saudi Arabia (X tons), Iraq (X tons) and Kazakhstan (X tons) represented the major importers of chocolate and cocoa products, together mixing up X% of total imports. South Korea (X tons), the Philippines (X tons), Uzbekistan (X tons), Israel (X tons), Yemen (X tons), Malaysia (X tons) and Turkey (X tons) took a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Uzbekistan (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Saudi Arabia, South Korea, Kazakhstan, Israel, the Philippines, Malaysia, Iraq, Turkey, Uzbekistan and Yemen lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Uzbekistan, with a CAGR of X%, recorded the highest growth rate of 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

The import price in Asia stood at $X per ton in 2022, increasing by X% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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