Global Caramel Market Overview
In value terms, caramel production stood at $3.1B in 2010 estimated in export prices. Overall, caramel production continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2008 with an increase of 4.9% against the previous year. The global caramel production peaked at $3.2B in 2009, and then declined slightly in the following year.
The country with the largest volume of caramel production was China (870K tonnes), comprising approx. 31% of total volume. Moreover, caramel production in China exceeded the figures recorded by the second-largest producer, the U.S. (283K tonnes), threefold. The third position in this ranking was occupied by India (271K tonnes), with a 9.6% share.
From 2007 to 2010, the average annual rate of growth in terms of volume in China stood at +4.2%. In the other countries, the average annual rates were as follows: the U.S. (-3.4% per year) and India (-0.8% per year).
The global caramel market revenue amounted to $3.1B in 2010, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, caramel consumption, however, continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2008 with an increase of 8.8% against the previous year. In that year, the global caramel market attained its peak level of $3.4B. From 2009 to 2010, the growth of the global caramel market failed to regain its momentum.
In China, caramel consumption remained relatively stable over the period from 2007-2010. In the other countries, the average annual rates were as follows: the U.S. (-0.1% per year) and India (-0.9% per year).
In value terms, China ($677M), the U.S. ($351M) and India ($275M) were the countries with the highest levels of market value in 2010, together comprising 42% of the global market. Japan, Brazil, Germany, Mexico, Indonesia, Turkey, France, South Korea and the Philippines lagged somewhat behind, together comprising a further 25%.
The Philippines (+79.5% per year) experienced the highest growth rate of market size, in terms of the main consuming countries over the period under review, while caramel market for the other global leaders experienced more modest paces of growth.
The countries with the highest levels of caramel per capita consumption in 2010 were South Korea (1,503 kg per 1000 persons), Germany (1,406 kg per 1000 persons) and Japan (1,164 kg per 1000 persons).
From 2007 to 2010, the most notable rate of growth in terms of caramel per capita consumption, amongst the main consuming countries, was attained by the Philippines (+83.8% per year), while caramel per capita consumption for the other global leaders experienced a decline in the per capita consumption figures.