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The Asia Pacific confectionery market is being driven by the shift in consumer preferences owing to the rising disposable incomes and rapidly developing emerging economies within the region.
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The industry is being aided by the growing global confectionery market, which is projected to witness a CAGR of 3.45% over the forecast period of 2021-2026. Further, the growing demand for chocolates in the region is aiding the growth of the overall market.
Within the Asia Pacific, China has emerged as the largest market for the product, followed by Japan, Brazil, and India. Country-wise, China attained a value of around USD 16.5 billion in 2020. On the other hand, India is the fastest-growing market, owing to the thriving food and beverage companies and rising disposable incomes in the region. The country is expected to grow at a CAGR of 9.8% in the forecast period. Both China and India are witnessing a healthy growth due to the growing population and increasing consumer inclination towards western taste. Also, the demand for packaged and ready-to-eat food products is increasing in the regions with the changing consumer lifestyle. The chocolate segment, among other confectionery-types, leads the confectionery market in the Asia Pacific.
Globally, the leading players in the industry have been introducing new products and enhancing their product portfolio to satisfy the consumer demand for healthy as well as tasty food products. In February 2018, Mars Incorporated, a key player in the industry, introduced a new product lineup for DOVE® Chocolate, offering consumers their favourite DOVE® Milk or Dark Chocolate in amalgamation with almonds and cashews, further dusted with cocoa, cinnamon or sea salt for a satisfying treat. The company has decided to launch Cinnamon Dusted Dark Chocolate Almonds and Sea Salt Milk Chocolate Cashews in both slim packs and stand-up pouches while the other flavour, Cocoa Dusted Dark Chocolate Cashews will be available only in stand-up pouches. Such developments are expected to drive the industry over the forecast period.
Confectionery generally refers to food products rich in sugar and carbohydrates like chocolates, candies, chewing gums, and others. These are the delicacies having sugar as a principal ingredient, combined with colouring and flavouring substance and often fruit or nuts. These are also rich in nutritive value due to the considerable presence of carbohydrate, fat, and protein content. Nowadays, many confections are enriched with vitamins, and the sector is also focusing on producing sugar-free or low sugar versions of the products.
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Based on type, the confectionery market can be divided into:
The report by EMR gives an in-depth analysis of the various regional markets in the confectionery market in the Asia Pacific, which are China, Japan, India, South Korea, Australia, and the Association of Southeast Asian Nations (ASEAN), among others.
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The Asia Pacific confectionery market is being driven by the rising disposable incomes and change in consumer preference in the region. The increased popularity of chocolates among kids as well as adults is driving the demand for the product in the region, thus, aiding in the growth of the overall confectionery market in the Asia Pacific. With the rising health concern, the demand for sugar-free or low-calorie products is on the rise, leading manufacturers to produce confectionery items with reduced sugar levels, which is expected to aid the industry growth over the forecast period. The growing consumption of dark chocolates owing to its various health benefits, including antioxidant properties and the presence of minerals, is providing further impetus to the market.
The growing middle-class population in the region is aiding the Asia Pacific confectionery market growth. The shift in consumer preference is leading to the increased consumption of premium quality products coupled with the growing trend of gifting confectionery items like chocolates and others, thus, contributing to the growth of the overall industry. Also, the innovative packaging and diversification in the product line by leading manufacturers including Mondelez International and Ferrero, who launched Lickables and Kinder respectively, with toys in their chocolate offering, is expected to grab consumers’ attention, particularly kids, which will enhance the sales of such items, and will aid the industry growth.
Further, the easy availability of products through various online and offline platforms is driving the industry forward. The expanding retail markets like grocery stores, supermarkets, and hypermarkets, along with the increased popularity of online shopping among consumers, is expected to enhance the industry growth in the future.
The report gives an in-depth look into the following key players in the Asia Pacific confectionery market, covering their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:
The EMR report gives an in-depth look into the confectionery market in the Asia Pacific through an analysis of Porter’s Five Forces model. The report provides a SWOT and cost analysis. The report has also provided an overview of the global and other regional markets like Latin America, Europe, North America, and the Middle East and Africa. The report further provides historical (2016-2020) and forecast (2021-2026) price trends of confectionery, along with a global trade analysis, providing an insight into major exporting and importing countries by value and volume.
|Scope of the Report||Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Type, Country|
|Breakup by Type||Chocolate, Non-Chocolate, Gums and Mints, Others|
|Breakup by Country||China, Japan, India, South Korea, Australia, Association of Southeast Asian Nations (ASEAN), Others|
|Market Dynamics||SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand|
|Trade Data Analysis||Major Importing Countries by Value and Volume, Major Exporting Countries by Value and Volume|
|Price Analysis||Historical and Forecast Price Trends- Regional|
|Competitive Landscape||Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications|
|Companies Covered||The Hershey Company, Ferrero SpA, Mars, Incorporated, Nestlé SA,
Lotte Group, Mondelez International, Inc.,, Chocoladefabriken Lindt & Sprüngli AG,
Hsu Fu Chi International Ltd., Meiji Holdings Co., Ltd., Others
|Report Price and Purchase Option||Explore our purchase options that are best suited to your resources and industry needs.|
|Delivery Format||Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.|
*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.
1.1 Objectives of the Study
1.1.1 Research Objective
1.1.2 Key Findings of the Report
2 Research Methodology
2.1 Data Extraction
2.2 Data Corroboration
2.3 Market Structure
2.5 Market Models
3.1 Market Outlook
3.2 Market Scope and Segmentation
3.3 Additional Insights
4 Executive Summary
4.1 Key Market Developments
4.2 Market Analysis
4.3 Key Players
4.4 Cost Structure
4.5 Market Revenue and Growth
5 Market Dynamics
5.1 Market Drivers
5.2 Market Restraints
5.3 Industry Challenges
5.4 Industry Opportunities
6 Global Confectionery Market Overview
6.1 Figure: Global Confectionery Historical Market (2016-2020) & Forecast (2021-2026)
6.2 Chart: Global Confectionery Market Breakup by Type
6.2.3 Gums and Mints
6.3 Chart: Global Confectionery Market Breakup by Region
6.3.1 North America
6.3.3 Asia Pacific
6.3.4 Latin America
6.3.5 Middle East and Africa
7 Asia Pacific Confectionery Market Analysis
7.1 Figure: Asia Pacific Confectionery Historical Market (2016-2020) & Forecast (2021-2026)
7.2 Figure: Asia Pacific Confectionery Market Breakup by Type: Historical market (2016-2020) & Forecast (2021-2026)
7.2.3 Gums and Mints
7.3 Figure: Asia Pacific Confectionery Market Breakup by Country: Historical market (2016-2020) & Forecast (2021-2026)
7.3.4 South Korea
7.3.6 Association of Southeast Asian Nations (ASEAN)
8 Asia Pacific Confectionery Price Analysis
8.1 Chocolates Historical Price Trends (2016-2020) & Forecast (2021-2026)
8.2 Non-Chocolates Historical Price Trends (2016-2020) & Forecast (2021-2026)
8.3 Gums and Mints Historical Price Trends (2016-2020) & Forecast (2021-2026)
9 Global Trade Analysis (HS Code-1704)
9.1 Major Exporting Countries by Value & Volume
9.2 Major Importing Countries by Value & Volume
10 SWOT Analysis
11 Porter’s Five Forces Analysis
11.2 Buyer’s Power
11.3 Supplier’s Power
11.4 New Entrants
11.5 Degree of Rivalry
12 Value Chain Analysis
13 EMR’s Key Indicators for Demand
14 EMR’s Key Indicators for Price
15 Competitive Landscape & Supplier Analysis
15.1 The Hershey Company
15.1.1 Company Overview
15.1.2 Financial Analysis
15.2 Ferrero SpA
15.2.1 Company Overview
15.2.2 Financial Analysis
15.3 Mars, Incorporated
15.3.1 Company Overview
15.3.2 Financial Analysis
15.4 Nestlé SA
15.4.1 Company Overview
15.4.2 Financial Analysis
15.5 Lotte Group
15.5.1 Company Overview
15.5.2 Financial Analysis
15.6 Mondelez International, Inc.,
15.6.1 Company Overview
15.6.2 Financial Analysis
15.7 Chocoladefabriken Lindt & Sprüngli AG
15.7.1 Company Overview
15.7.2 Financial Analysis
15.8 Hsu Fu Chi International Ltd.
15.8.1 Company Overview
15.8.2 Financial Analysis
15.9 Meiji Holdings Co., Ltd.
15.9.1 Company Overview
15.9.2 Financial Analysis
16 Industry Events and Developments
Additional Customisations Available:
17 Manufacturing Process
17.1 Detailed Process Flow
17.2 Operations Involved
17.3 Mass Balance
18 Production Cost Analysis
18.1 Land, Location, and Site Development
18.3 Plant Machinery
18.4 Cost of Raw Material
18.9 Other Capital Investment
The Asia Pacific confectionery market is being supported by the growing global confectionery industry, which is projected to grow at a CAGR of 3.45% in the forecast period of 2021-2026.
EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on its types, the confectionery market in the Asia Pacific can be segmented into chocolate, non-chocolate, and gums and mints, where the chocolate segment is further subdivided into white, milk, and dark chocolates. The chocolate segment accounts for the largest market share in the Asia Pacific confectionery market. The major regional markets for the Asia Pacific confectionery market are China, Japan, India, South Korea, Australia, and the Association of Southeast Asian Nations (ASEAN), among other countries, with India being the fastest growing regional market. The key players in the above industry include the Hershey Company, Ferrero SpA, Mars, Incorporated, Nestlé SA, Lotte Group, Mondelez International, Inc., Chocoladefabriken Lindt & Sprüngli AG, Hsu Fu Chi International Ltd., and Meiji Holdings Co., Ltd., among others.
The major drivers of the industry such as rising disposable incomes, increasing population, developing emerging economies within the region, increasing health awareness, and the rising demand for chocolates are expected to aid the market growth. EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
EMR’s approach gives their clients a comprehensive assessment of the prevailing and projected market conditions through the collection, collation, and analysis of data from trusted sources. The key questions answered in the market study are:
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