South-Eastern Asia: Chocolate Market 2024

Chocolate Market Size in South-Eastern Asia

The Southeast Asian chocolate market reduced modestly to $X in 2022, therefore, remained relatively stable against the previous year. The market 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. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Chocolate Production in South-Eastern Asia

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 pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

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Chocolate Exports

Exports in South-Eastern Asia

In 2022, shipments abroad of chocolate and other food preparations containing cocoa decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. The total export 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then fell in the following year.

In value terms, chocolate exports amounted to $X in 2022. The total export 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. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

Singapore represented the largest exporting country with an export of about X tons, which accounted for X% of total exports. Malaysia (X tons) ranks second in terms of the total exports with a X% share, followed by Indonesia (X%) and Thailand (X%).

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

In value terms, Singapore ($X) remains the largest chocolate supplier in South-Eastern Asia, comprising X% of total exports. The second position in the ranking was taken by Malaysia ($X), with a X% share of total exports. It was followed by Indonesia, with a X% share.

In Singapore, chocolate exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Malaysia (X% per year) and Indonesia (X% per year).

Export Prices by Country

In 2022, the export price in South-Eastern Asia amounted to $X per ton, with an increase of X% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Singapore ($X per ton), while Malaysia ($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 mixed trends in the export price figures.

Chocolate Imports

Imports in South-Eastern Asia

Chocolate imports rose significantly to X tons in 2022, increasing by X% compared with the year before. Total imports indicated strong 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 2017 with an increase of X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, chocolate imports skyrocketed to $X in 2022. Total imports indicated strong growth 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by X%. The level of import peaked in 2022 and is expected to retain growth in the near future.

Imports by Country

In 2022, Malaysia (X tons), distantly followed by Thailand (X tons), the Philippines (X tons), Indonesia (X tons) and Vietnam (X tons) represented the major importers of chocolate and other food preparations containing cocoa, together committing X% of total imports. Singapore (X tons) and Brunei Darussalam (X tons) followed a long way behind the leaders.

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

In value terms, the largest chocolate importing markets in South-Eastern Asia were Malaysia ($X), Thailand ($X) and the Philippines ($X), with a combined X% share of total imports.

Among the main importing countries, the Philippines, with a CAGR of X%, saw 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

The import price in South-Eastern Asia stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Brunei Darussalam ($X per ton), while the Philippines ($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.

Source: IndexBox Platform

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