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Asia Pacific Chocolate Market Size, Share, Trends, Growth: By Type: Dark Chocolate, Milk Chocolate, White Chocolate; By Product Type: Pure Chocolate, Compound Chocolate; By Distribution Channel: Supermarkets and Hypermarkets, Convenience Stores, Online, Others; Regional Analysis; Market Dynamics; Competitive Landscape; 2024-2032
Asia Pacific Chocolate Market Outlook
The Asia Pacific chocolate market size was valued at USD 18.79 billion in 2023. The market is further projected to grow at a CAGR of 5.5% between 2024 and 2032, reaching a value of USD 30.51 billion by 2032.
Key Takeaways
- In Asia Pacific region, the unique flavours of chocolate encompass miso caramel, mint ginger, lychee rose green tea, kalamansi lime, Turkish coffee with cardamom, and coffee crunch cake bar.
- As per industry reports, store-based retailers play a significant role in the distribution of chocolate products, offering easy accessibility to consumers through supermarkets, convenience stores, and speciality chocolate shops.
- Notable players in the market are Mars, Incorporated, MondelÄ“z International, Inc., Ferrero International S.A., Nestlé S.A., and The Hershey Company.
The market is segmented into dark chocolate, milk chocolate, and white chocolate. Milk chocolate holds a larger Asia Pacific chocolate market share due to its popularity and versatility in various applications like bakeries, biscuits, cookies, ice creams, and dairy products. White chocolate, known for its creamy and sweet flavour, appeals to consumers seeking a milder taste profile and is often used in confectionery and dessert applications.
On the other hand, dark chocolate is expected to witness growth driven by the rising demand for its health benefits and the increasing preference for higher cocoa content products. For example, companies like Nestle and Mars are introducing dark chocolate products with higher cocoa content and lower sugar content to cater to health-conscious consumers.
Furthermore, the store-based retailers play a significant role in the distribution of chocolate products, offering easy accessibility to consumers through supermarkets, convenience stores, and specialty chocolate shops. Non-store retailers, such as online platforms, also contribute to the market by providing a convenient way for consumers to purchase chocolate products.
The influence of Western lifestyles and the increasing preference for chocolates over traditional sweets are further fuelling the market expansion in Asia Pacific. For example, in India, the growing popularity of Western-style bakeries and confectionery shops is driving the demand for chocolates, particularly among the middle and upper-middle classes.
These trends, coupled with the region's large youth population, increasing per capita income, and the rise of e-commerce platforms, are key factors propelling the Asia Pacific chocolate market growth. For instance, the e-commerce platform Alibaba reported a 47% increase in sales in 2020, indicating the growing popularity of online shopping for chocolates in the region as well.
Market Segmentation
Asia Pacific Chocolate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
- Dark Chocolate
- Milk Chocolate
- White Chocolate
Market Breakup by Product Type
- Pure Chocolate
- Compound Chocolate
Market Breakup by Distribution Channel
- Supermarkets and Hypermarkets
- Convenience Stores
- Online
- Others
Market Breakup by Country
- China
- Japan
- India
- ASEAN
- Australia
- Others
Competitive Landscape
Market players are focused on product innovation, expansion strategies, and meeting the evolving consumer demands.
- Mars, Incorporated
- Mondelez International, Inc.
- Ferrero International S.A.
- Nestlé S.A.
- The Hershey Company
- Gujarat Co-operative Milk Marketing Federation Ltd.
- ITC Limited
- Barry Callebaut AG
- Grupo Arcor
- Chocoladefabriken Lindt & Sprüngli AG
- August Storck KG
- Meiji Holdings Co., Ltd.
- ROYCE' Confect co., Ltd.
- Yuraku Confectionery Co., Ltd.
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product Type |
|
| Breakup by Distribution Channel |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Chocolate Market Overview
8.1 Key Industry Highlights
8.2 Global Chocolate Historical Market (2018-2023)
8.3 Global Chocolate Market Forecast (2024-2032)
8.4 Global Chocolate Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 Asia Pacific Chocolate Market Overview
9.1 Key Industry Highlights
9.2 Asia Pacific Chocolate Historical Market (2018-2023)
9.3 Asia Pacific Chocolate Market Forecast (2024-2032)
10 Asia Pacific Chocolate Market by Type
10.1 Dark Chocolate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Milk Chocolate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 White Chocolate
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 Asia Pacific Chocolate Market by Product Type
11.1 Pure Chocolate
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Compound Chocolate
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Asia Pacific Chocolate Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Asia Pacific Chocolate Market by Country
13.1 China
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Japan
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 India
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 ASEAN
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 1806)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Mars, Incorporated
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Mondelēz International, Inc.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Ferrero International S.A.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Nestlé S.A.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 The Hershey Company
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Gujarat Co-operative Milk Marketing Federation Ltd.
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 ITC Limited
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Barry Callebaut AG
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 Grupo Arcor
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Chocoladefabriken Lindt & Sprüngli AG
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 August Storck KG
18.2.11.1 Company Overview
18.2.11.2 Product Portfolio
18.2.11.3 Demographic Reach and Achievements
18.2.11.4 Certifications
18.2.12 Meiji Holdings Co., Ltd.
18.2.12.1 Company Overview
18.2.12.2 Product Portfolio
18.2.12.3 Demographic Reach and Achievements
18.2.12.4 Certifications
18.2.13 ROYCE' Confect co., Ltd.
18.2.13.1 Company Overview
18.2.13.2 Product Portfolio
18.2.13.3 Demographic Reach and Achievements
18.2.13.4 Certifications
18.2.14 Yuraku Confectionery Co., Ltd.
18.2.14.1 Company Overview
18.2.14.2 Product Portfolio
18.2.14.3 Demographic Reach and Achievements
18.2.14.4 Certifications
18.2.15 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Chocolate Market: Key Industry Highlights, 2018 and 2032
2. Asia Pacific Chocolate Market: Key Industry Highlights, 2018 and 2032
3. Asia Pacific Chocolate Historical Market: Breakup by Type (USD Billion), 2018-2023
4. Asia Pacific Chocolate Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. Asia Pacific Chocolate Historical Market: Breakup by Product Type (USD Billion), 2018-2023
6. Asia Pacific Chocolate Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
7. Asia Pacific Chocolate Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. Asia Pacific Chocolate Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. Asia Pacific Chocolate Historical Market: Breakup by Country (USD Billion), 2018-2023
10. Asia Pacific Chocolate Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. Asia Pacific Chocolate Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 18.79 billion.
The market is expected to grow at a CAGR of 5.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 30.51 billion by 2032.
The market is being driven due to region's large youth population, increasing per capita income, and the rise of e-commerce platforms.
Key trends aiding the market expansion include growing demand for premium and healthy chocolate products and innovations in packaging formats.
Countries considered in the market are China, Japan, India, ASEAN, and Australia, among others.
Different types of chocolate in the market are dark chocolate, milk chocolate, and white chocolate.
Based on distribution channel, the market segmentations include supermarkets and hypermarkets, convenience stores, and online, among others.
Key players in the market are Mars, Incorporated, Mondelez International, Inc., Ferrero International S.A., Nestlé S.A., The Hershey Company, Gujarat Co-operative Milk Marketing Federation Ltd., ITC Limited, Barry Callebaut AG, Grupo Arcor, Chocoladefabriken Lindt & Sprüngli AG, August Storck KG, Meiji Holdings Co., Ltd., ROYCE' Confect co., Ltd., and Yuraku Confectionery Co., Ltd., among others.
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