Cocoa-free sugar confectionery market in Vietnam

Earlier Report Observations

The Vietnamese cocoa-free sugar confectionery market reached a volume peak of 160.8 thousand tons in 2019 before entering a period of sustained contraction, falling to 100.4 thousand tons by 2023. In value terms, the market declined from 2018 through 2022, but saw an increase to $494.5 million in 2023 despite the lower volume.

A key industry trend emerged around 2021 as confectionery makers began exploring cocoa alternatives due to volatile prices and supply chain concerns, supporting interest in products like gelatin-based candies. However, this shift did not reverse the overall volume decline. By 2023, the market faced significant pressure from soaring global cocoa prices, driven by crop failures in West Africa, coupled with tighter consumer spending in Vietnam due to economic headwinds. These factors raised production costs for manufacturers, including major players like Orion Vina, and contributed to the further reduction in market volume while pushing up the average product value.

Production cocoa-free sugar confectionery in Vietnam

In kind, 2017-2020, K t

Globally, Vietnam ranked as the 8th largest producer of cocoa-free sugar confectionery from 2017 to 2020.

Top producers of cocoa-free sugar confectionery, 2017-2020

World map of production of cocoa-free sugar confectionery, 2017-2020

Following two years of growth, Vietnam's production of cocoa-free sugar confectionery declined. In 2019, output peaked at 164.3 thousand tonnes, but by 2020, it had fallen to 140.8 thousand tonnes, marking a significant drop of 14.3% from the previous year. The largest annual increase occurred in 2018, with a rise of 12.2%.

Annual dynamics of production in Vietnam in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Vietnam's cocoa-free sugar confectionery production value declined for the second year in a row. In 2018, it reached its highest point at 694.7 million US dollars, but by 2020, it had decreased to 633.9 million US dollars, down 5.1% from 2019. Over the entire period from 2017 to 2020, production value grew by 7.1%, averaging an annual increase of 2.3%. The largest yearly gain was in 2018, at 17.3%.

Annual dynamics of production in Vietnam in value, 2017-2020, M $ US

Exports cocoa-free sugar confectionery from Vietnam

Exports in kind, t

Vietnam's exports of cocoa-free sugar confectionery in volume terms fell to 17 022 tonnes in 2020, a 26.8% decrease from 2019. Over the 2017-2020 period, exports dropped by 30%, with an average annual decline of 11.2%. The largest increase was recorded in 2019, at 12.4%.

Annual dynamics of product's exports from Vietnam in kind, 2017-2020, t

From 2017 to 2020, Vietnam's cocoa-free sugar confectionery exports in volume were spread across many countries. The top three destinations—the Philippines (11.7% of exports), Thailand (9.8%), and Malaysia (8.3%)—together accounted for only 29.8% of total export volumes.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Vietnam in kind, 2017-2020

Exports in value, M $ US

In 2020, Vietnam's cocoa-free sugar confectionery export value amounted to 76.7 million US dollars, down 18.8% from the previous year. Between 2017 and 2020, export value decreased by 24.2%, with an average annual decline of 8.8%. The largest increase occurred in 2019, at 5.1%.

Annual dynamics of product's exports from Vietnam in value, 2017-2020, M $ US

During 2017-2020, Vietnam's cocoa-free sugar confectionery exports in value terms were distributed across a wide range of markets. The Philippines (11.1% of export value), Thailand (9.5%), and Malaysia (8.2%) together made up just 28.7% of total export value, with numerous smaller markets comprising the remaining 71.3%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Vietnam in value, 2017-2020

Imports cocoa-free sugar confectionery to Vietnam

Imports in kind, t

After two years of growth, Vietnam's imports of cocoa-free sugar confectionery in volume terms declined. In 2019, imports peaked at 19 717 tonnes, but by 2020, they had fallen to 15 404 tonnes, a decrease of 21.9% from the previous year. Over the 2017-2020 period, imports increased by 11%, with an average annual growth rate of 3.5%. The largest increase was in 2019, at 24.8%.

Annual dynamics of product's imports to Vietnam in kind, 2017-2020, t

From 2017 to 2020, Indonesia (24.0% of import volume), the Philippines (13.8%), and China (13.1%) were the main sources for Vietnam's cocoa-free sugar confectionery imports in volume terms, together accounting for 50.9% of total import flows.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Vietnam in kind, 2017-2020

Imports in value, M $ US

Following two years of increase, Vietnam's imports of cocoa-free sugar confectionery in value terms declined. In 2019, imports reached a high of 77.3 million US dollars, but by 2020, they had dropped to 66.1 million US dollars, down 14.5% from the previous year. Over the 2017-2020 period, import value rose by 24%, with an average annual growth rate of 7.4%. The largest increase was in 2018, at 23.1%.

Annual dynamics of product's imports to Vietnam in value, 2017-2020, M $ US

Throughout 2017-2020, Indonesia (23.4% of import value), the Philippines (15.5%), and China (12.9%) remained the primary markets for Vietnam's cocoa-free sugar confectionery imports in value terms, jointly representing 51.8% of total import flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Vietnam in value, 2017-2020