Republic of Korea: Market for Chocolate Bars With Fillings 2024

Market Size for Chocolate Bars With Fillings in Republic of Korea

The South Korean chocolate bar with filling market was estimated at $X in 2023, picking up by X% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Chocolate bar with filling consumption peaked at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Production of Chocolate Bars With Fillings in Republic of Korea

In value terms, chocolate bar with filling production rose to $X in 2023 estimated in export price. Overall, the total production indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Chocolate Bars With Fillings

Exports from Republic of Korea

In 2023, the amount of chocolate bars with fillings exported from South Korea totaled X tons, picking up by X% compared with 2022. In general, exports, however, showed a abrupt decline. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, chocolate bar with filling exports expanded remarkably to $X in 2023. Over the period under review, exports, however, faced a abrupt shrinkage. The pace of growth was the most pronounced in 2021 with an increase of X%. The exports peaked at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

China (X tons) was the main destination for chocolate bar with filling exports from South Korea, with a X% share of total exports. Moreover, chocolate bar with filling exports to China exceeded the volume sent to the second major destination, Malaysia (X tons), more than tenfold.

From 2012 to 2023, the average annual growth rate of volume to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the Philippines (X% per year).

In value terms, China ($X) emerged as the key foreign market for chocolate bars with fillings exports from South Korea, comprising X% of total exports. The second position in the ranking was held by Malaysia ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value to China totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Malaysia (X% per year) and the Philippines (X% per year).

Export Prices by Country

The average chocolate bar with filling export price stood at $X per ton in 2023, rising by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2021; however, from 2022 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2023, amid the top suppliers, the country with the highest price was Malaysia ($X per ton), while the average price for exports to the Philippines ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Hong Kong SAR (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars With Fillings

Imports into Republic of Korea

In 2023, overseas purchases of chocolate bars with fillings increased by X% to X tons for the first time since 2015, thus ending a seven-year declining trend. Over the period under review, imports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, chocolate bar with filling imports reduced slightly to $X in 2023. Overall, imports, however, continue to indicate a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at $X in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Italy (X tons) and Germany (X tons) were the main suppliers of chocolate bar with filling imports to South Korea, together comprising X% of total imports. The United States, Spain, Russia, Poland, the Netherlands, Malaysia and Switzerland lagged somewhat behind, together comprising a further X%.

From 2012 to 2023, the biggest increases were recorded for Spain (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X) constituted the largest supplier of chocolate bars with fillings to South Korea, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Germany, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Italy totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Germany (X% per year).

Import Prices by Country

The average chocolate bar with filling import price stood at $X per ton in 2023, reducing by X% against the previous year. In general, the import price continues to indicate a pronounced downturn. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2023, amid the top importers, the country with the highest price was Switzerland ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Switzerland (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform