Malaysia: Chocolate Market 2024

Chocolate Market Size in Malaysia

The Malaysian chocolate market declined to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market remained at a lower figure.

Chocolate Production in Malaysia

In value terms, chocolate production declined 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; however, 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 X% against the previous year. Chocolate production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

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Chocolate Exports

Exports from Malaysia

Chocolate exports from Malaysia surged to X tons in 2022, picking up by X% against 2021 figures. Overall, exports enjoyed buoyant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the near future.

In value terms, chocolate exports surged to $X in 2022. In general, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2017 when exports increased by X%. 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) was the main destination for chocolate exports from Malaysia, with a X% share of total exports. Moreover, chocolate exports to Japan exceeded the volume sent to the second major destination, Thailand (X tons), threefold. The third position in this ranking was held by the Philippines (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Japan stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Thailand (X% per year) and the Philippines (X% per year).

In value terms, the Philippines ($X), Japan ($X) and Singapore ($X) appeared to be the largest markets for chocolate exported from Malaysia worldwide, together comprising X% of total exports. Thailand, China, South Korea, Indonesia, the United States, Saudi Arabia, India, Vietnam, Taiwan (Chinese) and Bangladesh lagged somewhat behind, together accounting for a further X%.

In terms of the main countries of destination, Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

The average chocolate export price stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Japan ($X per ton) was amongst the lowest.

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

Chocolate Imports

Imports into Malaysia

In 2022, imports of chocolate and cocoa products into Malaysia surged to X tons, picking up by X% compared with the year before. Over the period under review, total imports indicated prominent growth from 2012 to 2022: its volume 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, imports increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in years to come.

In value terms, chocolate imports skyrocketed 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 indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Australia (X tons), Singapore (X tons) and China (X tons) were the main suppliers of chocolate imports to Malaysia, together comprising X% of total imports. Indonesia, Thailand, Turkey, Italy, the Netherlands, Germany, Switzerland, India, Sweden and South Africa lagged somewhat behind, together comprising a further X%.

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

In value terms, the largest chocolate suppliers to Malaysia were Singapore ($X), Australia ($X) and China ($X), together comprising X% of total imports. Italy, India, the Netherlands, Germany, Indonesia, Switzerland, Thailand, Turkey, Sweden and South Africa lagged somewhat behind, together comprising a further X%.

In terms of the main suppliers, India, 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 average chocolate import price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, import prices stood 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 India ($X per ton), while the price for South Africa ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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