Chocolate Market Overview in China

In 2019, the Chinese chocolate market was finally on the rise to reach $ for the first time since 2016, thus ending a two-year declining trend. Overall, the total consumption indicated a measured 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, consumption decreased by -% against 2016 indices. The pace of growth was the most pronounced in 2012 with an increase of % against the previous year. Chocolate consumption peaked at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.

In value terms, chocolate production amounted to $ in 2019 estimated in export prices. In general, the total production indicated a remarkable 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, production decreased by -% against 2016 indices. The pace of growth appeared the most rapid in 2012 when the production volume increased by % year-to-year. Over the period under review, production hit record highs at $ in 2016; however, from 2017 to 2019, production stood at a somewhat lower figure.

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 +% over the period from 2007 to 2019; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2013 when the consumption volume increased by % against the previous year. Over the period under review, consumption hit record highs in 2019 and is likely to see gradual growth in the immediate term.

The size of the chocolate market in China was estimated at $ in 2019, 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, the total consumption indicated a pronounced 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 decreased by -% against 2016 indices. The most prominent rate of growth was recorded in 2012 when the market value increased by % against the previous year. Chocolate consumption peaked at $ in 2016; however, from 2017 to 2019, consumption stood at a somewhat lower figure.

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 retain its current trend pattern, 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.