Eastern Asia: Sweet Biscuit Market 2023

Sweet Biscuit Market Size in Eastern Asia

The East Asian sweet biscuit market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Sweet Biscuit Production in Eastern Asia

In value terms, sweet biscuit production expanded modestly to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.5% from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2017 with an increase of 18% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Sweet Biscuit Exports

Exports in Eastern Asia

Sweet biscuit exports surged to X tons in 2021, growing by 24% against the previous year's figure. The total export volume increased at an average annual rate of +2.1% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2018 when exports increased by 38% against the previous year. Over the period under review, the exports hit record highs in 2021 and are expected to retain growth in the immediate term.

In value terms, sweet biscuit exports soared to $X in 2021. Overall, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2018 when exports increased by 49%. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

In 2021, China (X tons) represented the largest exporter of sweet biscuits, achieving 53% of total exports. South Korea (X tons) ranks second in terms of the total exports with a 21% share, followed by Hong Kong SAR (17%) and Taiwan (Chinese) (7.4%). Japan (X tons) held a relatively small share of total exports.

From 2012 to 2021, average annual rates of growth with regard to sweet biscuit exports from China stood at +3.6%. At the same time, Japan (+3.7%) and South Korea (+2.6%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of +3.7% from 2012-2021. Hong Kong SAR experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China increased by +6.5 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Hong Kong SAR ($X), China ($X) and South Korea ($X) were the countries with the highest levels of exports in 2021, together accounting for 87% of total exports.

Among the main exporting countries, Hong Kong SAR, with a CAGR of +17.6%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Eastern Asia amounted to $X per ton, surging by 15% against the previous year. Export price indicated a prominent increase from 2012 to 2021: its price increased at an average annual rate of +6.6% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, sweet biscuit export price increased by +24.3% against 2015 indices. The pace of growth was the most pronounced in 2015 when the export price increased by 21% against the previous year. The level of export peaked in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Japan ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+17.8%), while the other leaders experienced more modest paces of growth.

Sweet Biscuit Imports

Imports in Eastern Asia

In 2021, supplies from abroad of sweet biscuits decreased by -8.4% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated a perceptible expansion from 2012 to 2021: its volume increased at an average annual rate of +4.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.4% against 2019 indices. The pace of growth was the most pronounced in 2014 with an increase of 23%. Over the period under review, imports attained the peak figure at X tons in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, sweet biscuit imports expanded modestly to $X in 2021. Total imports indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -6.4% against 2018 indices. The growth pace was the most rapid in 2013 when imports increased by 27%. The level of import peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, China (X tons) was the key importer of sweet biscuits, mixing up 52% of total imports. It was distantly followed by Hong Kong SAR (X tons), South Korea (X tons) and Taiwan (Chinese) (X tons), together creating a 45% share of total imports. Macao SAR (X tons) followed a long way behind the leaders.

Imports into China increased at an average annual rate of +6.2% from 2012 to 2021. At the same time, South Korea (+14.9%), Taiwan (Chinese) (+4.2%) and Hong Kong SAR (+3.1%) displayed positive paces of growth. Moreover, South Korea emerged as the fastest-growing importer imported in Eastern Asia, with a CAGR of +14.9% from 2012-2021. By contrast, Macao SAR (-5.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of South Korea and China increased by +8.8 and +5.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) constitutes the largest market for imported sweet biscuits in Eastern Asia, comprising 57% of total imports. The second position in the ranking was held by Hong Kong SAR ($X), with an 18% share of total imports. It was followed by South Korea, with a 15% share.

In China, sweet biscuit imports increased at an average annual rate of +8.4% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Hong Kong SAR (+3.7% per year) and South Korea (+16.3% per year).

Import Prices by Country

In 2021, the import price in Eastern Asia amounted to $X per ton, picking up by 13% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.4%. As a result, import 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 importing countries. In 2021, the country with the highest price was Macao SAR ($X per ton), while Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Macao SAR (+8.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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