EXECUTIVE SUMMARY
In 2010, China was the world’s second-largest economy with a gross domestic product (GDP) of US$5.8 trillion. The same year, China was the second-biggest confectionery market in Asia, with US$9.5 billion in sales, following Japan with US$10 billion in sales. However, the most recent estimates reveal that, as of October 2011, China is the most important market in Asia, with US$10.4 billion in sales, surpassing Japan, which has sales of US$9.8 billion.
In 2010, China’s confectionery sales value increased by 8.8%, due mainly to the rising purchasing power of consumers, and the increasing use of confectionery as snacks and to mark special occasions.
From June 2010 to June 2011, 302 of the 484 confectionery products launched on the Chinese market were completely new, making it the third-most popular market for new products in Pacific Asia. Australia had the largest market for overall confectionery product launches with 490, followed by India with 448.
