Eastern Asia: Chocolate Market 2024

Chocolate Market Size in Eastern Asia

The East Asian chocolate market expanded modestly to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market reached the maximum level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Chocolate Production in Eastern Asia

In value terms, chocolate production stood at $X in 2023 estimated in export price. The total production indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. 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 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Chocolate Exports

Exports in Eastern Asia

In 2023, chocolate exports in Eastern Asia totaled X tons, growing by X% on the year before. The total export volume increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports reached the maximum in 2023 and are expected to retain growth in years to come.

In value terms, chocolate exports rose notably to $X in 2023. The total export value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by X%. The level of export peaked in 2023 and is expected to retain growth in the immediate term.

Exports by Country

In 2023, China (X tons) represented the main exporter of chocolate and cocoa products, generating X% of total exports. South Korea (X tons) held the second position in the ranking, distantly followed by Hong Kong SAR (X tons) and Japan (X tons). All these countries together held approx. X% share of total exports.

Exports from China increased at an average annual rate of X% from 2012 to 2023. At the same time, Japan (X%), Hong Kong SAR (X%) and South Korea (X%) displayed positive paces of growth. Moreover, Japan emerged as the fastest-growing exporter exported in Eastern Asia, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of China and Japan increased by X and X percentage points, respectively.

In value terms, China ($X), Hong Kong SAR ($X) and Japan ($X) appeared to be the countries with the highest levels of exports in 2023, together comprising X% of total exports.

In terms of the main exporting countries, China, with a CAGR of X%, 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 2023, the export price in Eastern Asia amounted to $X per ton, approximately equating the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per ton in 2016; however, from 2017 to 2023, 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 Japan ($X per ton), while South Korea ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by China (X%), while the other leaders experienced mixed trends in the export price figures.

Chocolate Imports

Imports in Eastern Asia

In 2023, the amount of chocolate and cocoa products imported in Eastern Asia fell to X tons, shrinking by X% compared with the year before. The total import volume increased at an average annual rate of X% from 2012 to 2023; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2022 to 2023, the growth of imports remained at a lower figure.

In value terms, chocolate imports stood at $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

In 2023, Japan (X tons) represented the key importer of chocolate and cocoa products, creating X% of total imports. China (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by South Korea (X%), Hong Kong SAR (X%) and Taiwan (Chinese) (X%).

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and Hong Kong SAR ($X) appeared to be the countries with the highest levels of imports in 2023, together accounting for X% of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 Eastern Asia stood at $X per ton in 2023, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform