Chocolate Market Overview in China

The Chinese chocolate market was estimated at $ in 2019, rising by % 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, the total consumption indicated a strong increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2007 indices. The most prominent rate of growth was recorded in 2011 with an increase of % year-to-year. Chocolate consumption peaked in 2019 and is likely to see steady growth in the immediate term.

In value terms, chocolate production reached $ in 2019 estimated in export prices. Overall, the total production indicated a prominent expansion from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, production increased by +% against 2007 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by % y-o-y. Over the period under review, production attained the peak level in 2019 and is likely to continue growth in the near future.

In 2019, consumption of chocolate and cocoa products increased by % to tonnes, rising for the tenth consecutive year after two years of decline. The total consumption volume increased at an average annual rate of +% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 with an increase of % y-o-y. Over the period under review, consumption attained the maximum volume in 2019 and is likely to continue growth in the near future.

The value of the chocolate market in China rose sharply to $ in 2019, with an increase of % 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). Overall, the total consumption indicated a buoyant increase from 2007 to 2019: its value increased at an average annual rate of +% over the last twelve years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, consumption increased by +% against 2007 indices. The pace of growth appeared the most rapid in 2011 with an increase of % year-to-year. Over the period under review, the market attained the peak level in 2019 and is expected to retain growth in the near future.

Driven by increasing demand for chocolate in China, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +% for the period from 2019 to , which is projected to bring the market volume to tonnes by the end of .

Over the period under review, imports of chocolate in China were negligibly small compared to the production volumes. Therefore, the share of imports in the total market was practically nonexistent, both in volume and in value terms. This situation has remained constant over the period under review, which means that domestic producers entirely meet the domestic demand for chocolate.

Those figures reflect the fact that neither imports nor exports don’t dominate the trade balance, and the country may export not only the product manufactured domestically, but also re-export some previously imported goods.