Southern Asia: Chocolate Market 2024

Chocolate Market Size in Southern Asia

The South Asian chocolate market fell modestly to $X in 2022, waning by X% against the previous year. Over the period under review, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Chocolate Production in Southern Asia

In value terms, chocolate production dropped slightly to $X in 2022 estimated in export price. The total production indicated a perceptible 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 growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Chocolate Exports

Exports in Southern Asia

In 2022, shipments abroad of chocolate and cocoa products increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports showed a buoyant expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, chocolate exports rose to $X in 2022. In general, exports recorded a resilient increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, India (X tons) was the major exporter of chocolate and cocoa products, making up X% of total exports. Sri Lanka (X tons) held an X% share (based on physical terms) of total exports, which put it in second place, followed by Bangladesh (X%). Pakistan (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to chocolate exports from India stood at X%. At the same time, Bangladesh (X%), Pakistan (X%) and Sri Lanka (X%) displayed positive paces of growth. Moreover, Bangladesh emerged as the fastest-growing exporter exported in Southern Asia, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Bangladesh and Pakistan increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) remains the largest chocolate supplier in Southern Asia, comprising X% of total exports. The second position in the ranking was taken by Sri Lanka ($X), with a X% share of total exports. It was followed by Bangladesh, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in India amounted to X%. In the other countries, the average annual rates were as follows: Sri Lanka (X% per year) and Bangladesh (X% per year).

Export Prices by Country

The export price in Southern Asia stood at $X per ton in 2022, waning by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($X per ton), while Bangladesh ($X per ton) was amongst the lowest.

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

Chocolate Imports

Imports in Southern Asia

In 2022, overseas purchases of chocolate and cocoa products increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated a resilient expansion 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 pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate imports skyrocketed to $X in 2022. Total imports indicated a buoyant expansion 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 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to continue growth in the immediate term.

Imports by Country

India represented the major importing country with an import of about X tons, which resulted at X% of total imports. Pakistan (X tons) took the second position in the ranking, followed by Afghanistan (X tons), Nepal (X tons), Bangladesh (X tons), Maldives (X tons) and Sri Lanka (X tons). All these countries together held approx. X% share of total imports.

Imports into India increased at an average annual rate of X% from 2012 to 2022. At the same time, Maldives (X%), Bangladesh (X%), Pakistan (X%), Afghanistan (X%) and Nepal (X%) displayed positive paces of growth. Moreover, Maldives emerged as the fastest-growing importer imported in Southern Asia, with a CAGR of X% from 2012-2022. By contrast, Sri Lanka (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Pakistan, Bangladesh, Maldives and Afghanistan increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, India ($X) constitutes the largest market for imported chocolate and cocoa products in Southern Asia, comprising X% of total imports. The second position in the ranking was held by Pakistan ($X), with a X% share of total imports. It was followed by Maldives, with an X% share.

In India, chocolate imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Pakistan (X% per year) and Maldives (X% per year).

Import Prices by Country

In 2022, the import price in Southern Asia amounted to $X per ton, with an increase of X% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Maldives ($X per ton), while Afghanistan ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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