ASIA PACIFIC CHOCOLATE MARKET ANALYSIS

Chocolate is prepared with roasted and ground cacao seeds that are made in the form of paste, block, and liquid. Chocolate can be used as a flavoring agent in various food applications. It has numerous health benefits and has a unique and sweet taste. Its consumption reduces the risk of various diseases such as coronary heart disease and hypertension. Moreover, studies reveal that it has a high level of antioxidants.

Market Dynamics

The Asia Pacific chocolate market is witnessing potential market growth due to the increasing consumption of dark chocolates driven by growing awareness of their health benefits. For instance, on February 2023, the launch and local production of GALAXY FUSIONS Dark chocolate with 70% cocoa in India has been announced by Mars Wrigley India. The retail industry’s growth in the region is expected to foster the market expansion of chocolates. This growth can be attributed to the emergence of various department stores, mass merchandisers, and duty-free shops at airports, which have been made possible by infrastructure improvements.

Factors such as changing consumer preferences and rising disposable incomes have led to a significant increase in demand for chocolate products in the Asia Pacific market. Additionally, the thriving bakery and confectionery industry in the region further contributes to the demand for high-quality chocolates. With a growing population and longer life expectancies, the consumer base for chocolates is expanding, presenting new growth opportunities in the market.

Additionally, the market's trending drivers include the expanding demand for chocolates that are vegan, gluten-free, organic, and sugar-free. Due to increased awareness of the negative effects that synthetic products have on human health and the environment, the majority of informed and health-conscious consumers have begun purchasing organic products.

 Key features of the study:

• This report provides in-depth analysis of the Asia-Pacific chocolate market and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the Asia Pacific chocolate market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• Key companies covered as a part of this study include Ferrero S.p.A, MARS Inc., Mondelez International, Inc., (Kraft), The Hershey Company, Lotte Co., Ltd, Nestle SA
• Insights from this report would allow marketers and management authorities of companies to make informed decisions regarding future product launches, technology up gradation, market expansion, and marketing tactics
• The Asia Pacific chocolate market report caters to various stakeholders in this industry including investors, suppliers, manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the Asia Pacific Chocolate Market

Detailed Segmentation:

• Asia Pacific Chocolate Market, By Category:
  • Boxed Chocolates
  • Countline Chocolates
  • Straightline Chocolates
  • Molded Bars
  • Novelties
  • Other Chocolates
• Asia Pacific Chocolate Market, By Countries:
  • China
  • India
  • New Zealand
  • Japan
  • Australia
  • South Korea
  • Malaysia
  • Singapore
  • Rest of Asia Pacific
• Company Profiles
  • Ferrero S.p.A
  • MARS Inc.
  • Mondelez International, Inc.
  • The Hershey Company
  • Lotte Co., Ltd.
  • Nestle SA