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Asia-Pacific Chocolate Market - Segmented by Product Type, Distribution Channel, and Geography – Growth, Trends, and Forecast (2018 - 2023)

Asia-Pacific Chocolate Market - Segmented by Product Type, Distribution Channel, and Geography – Growth, Trends, and Forecast (2018 - 2023)

The Asia-Pacific Chocolate market is expected to reach USD 24.4 billion by 2023, witnessing a healthy CAGR of 7.7 %, during the forecast period. Chocolate consumption volume in the region surpassed 861 million Kg in 2017, moving at a volume CAGR of 4%, during the forecast period. Impulse purchasing, affordability, high population and purchasing power in the region are driving the market. The demand for premium chocolate is increasing driven by rising consumer interest in foreign brands.

Japan holds the major share in the market with a total consumption valued USD 5,388 million in 2017. China, India and Australia followed by Japan. India registered the strongest growth rate over the past few years, which is expected to continue during the forecast period.

Innovations Boosting Chocolate Sales

Companies are introducing varied exotic flavor and pack sizes to attract consumer. The regional preference for flavor and cuisine among Southeast Asian drives the chocolate market. Nestle launched more than 300 flavors of chocolate in Japan itself, including wasabi, Kitkat sushi, and cherry blossom, amongst others. Kitkat of Nestle is the top selling chocolate brand in Japan, sales rose by 50% from 2010. Innovation in product flavor, introducing small pack size chocolates, is expected to drive the market where consumers are more price-sensitive. Chocolate accounts for about 37% of the Chocolate market in Asia-pacific driven by consumer interest in cocoa rich products. The category registered the fastest growth rate of 7.7% in the Chocolate value sales.

Countlines is the most consumed chocolates in the region, which is growing at a faster rate of 8%. The demand for countline sales crossed USD 4,399 million in 2018; driven by on-the-go and convenient pack style of products. Seasonal chocolate sale is more prominent in Japan, Australia and New Zealand while it is negligible majority of Asian countries. Boxed assortments sale is growing in the region owing to seasonal chocolate gifting trend demand for premium chocolate and attractive packaging.

Japan the Largest Market

Japan chocolate market is expected to reach USD 6.29 billion by 2023. Rising demand for traditional cuisine style chocolate combination and flavor driven the market demand. High living standard and increased health awareness among consumers as compared to other countries in the region are demanding cocoa rich products. Countlines sale accounts for 23% of the total chocolate sale in Japan, followed by Boxed assortment due to seasonal gifting trend.

Growing middle class purchasing power coupled with marketing and promotional activities triggered the chocolate demand in Asia. Moulded chocolate dominates the Indian chocolate retail sale followed by countlines. Heavy price and discount offered at supermarkets/hypermarkets and healthy eating habits are another factor boosted the chocolate Chocolate sale in the region.

Key Developments

  • January 2018 - Nestle planned to launch Ruby chocolate in Asia, targeting japan and Korea as its primary market. Nestle is the first consumer company to launch innovative ruby chocolate developed by Barry Callebaut
The Asia-Pacific Chocolate market is competitive with multinational players accounting for major share. New product innovation and low calorie label claim are the main strategy adopted by the key player. Energy bars performed well in the past few years witnessing double-digit growth rate in snack bar market. Many chocolate players, such as Nestle are planning to launch premium chocolate in emerging countries, such as India.

Major players - MARS INC., FERRERO, NESTLE SA, HERSHEY CO., MEIJI CO. LTD., amongst others.

Reasons to Purchase this Report
  • Analyzing outlook of the market with the recent trends and Porter’s five forces analysis
  • Market dynamics scenario, along with growth opportunities of the market in the years to come
  • Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and non-economic aspects
  • Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
  • Market value (USD Million) and volume (Kg Million) data for each segment and sub segment
  • Covering three broad category of Chocolate: Chocolate, gums, sugar Chocolate and snack bar
  • Distribution Channel sales Analysis by Value
  • Competitive landscape involving the market share of major players, along with the new product launch and strategies adopted by players in the past five years
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • 3-month analyst support, along with the Market Estimate sheet in excel
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.


1. Introduction
1.1 Key Deliverables of the Study
1.2 Study Assumptions
1.3 Scope of the Market
2. Research Approach and Methodology
2.1 Introduction
2.2 Research Design
2.3 Study Timelines
2.4 Study Phases
2.4.1 Secondary Research
2.4.2 Discussion Guide
2.4.3 Market Engineering and Econometric Modeling
2.4.4 Expert Validation
3. Market Overview
3.1 Market Trends
3.2 Market Dynamics
3.2.1 Drivers
3.2.1.1 Increased Demand for Healthy Snacking
3.2.1.2 Rising Interest for Premium Chocolate
3.2.1.3 Impulse Purchase and Indulgence
3.2.2 Restraints
3.2.2.1 Fluctuating Raw Material Prices, such as Cocoa, Vanilla, sugar
3.2.3 Opportunities
3.2.3.1 Innovation in Products and Packaging
3.2.4 Porter's Five Forces Analysis
3.2.4.1 Bargaining Power of Suppliers
3.2.4.2 Bargaining Power of Buyers
3.2.4.3 Threat of New Entrants
3.2.4.4 Threat of Substitute Products and Services
3.2.4.5 Degree of Competition
4. Market Segmentation
4.1 By Product Type
4.1.1 Chocolate
4.1.1.1 Alfajores
4.1.1.2 Softlines/Selflines
4.1.1.3 Boxed Assortments
4.1.1.4 Chocolate With Toys
4.1.1.5 Countlines
4.1.1.6 Seasonal Chocolate
4.1.1.7 Molded Chocolate
4.1.1.8 Other Chocolate Confectionery
4.2 By Distribution Channel
4.2.1 Warehouse Clubs
4.2.2 Convenience Stores
4.2.3 Specialist Retailers
4.2.4 Supermarkets and Hypermarkets
4.2.5 Online Retail
4.2.6 Variety Stores
4.2.7 Department Stores
4.2.8 Vending Machines
4.2.9 Others
4.3 By Geography
4.3.1 Asia-Pacific
4.3.1.1 China
4.3.1.2 India
4.3.1.3 Japan
4.3.1.4 Australia
4.3.1.5 Rest of Asia-Pacific
5. Competitive Landscape
5.1 Market Share Analysis
5.2 Strategy Adopted by Key Players
5.3 Most Active Companies in the Past Five Years
6. List of Company Profiles
6.1 Overview
6.2 Products & Services
6.3 Financials
6.4 Key Developments
6.5 Strategies Adopted
6.6 SWOT Analysis of Major Five Players
7. Companies Covered
7.1 Mondeléz international Inc.
7.2 Mars Inc.
7.3 Nestle SA
7.4 Ferrero Group
7.5 Meiji Co. Ltd
7.6 Hershey Co
7.7 Lotte Confectionery Co. Ltd
7.8 Anand Milk Union Limited
7.9 Lindt & Sprungli
7.10 Yıldız Holding
7.11 Morinaga & Company, Ltd.
7.12 Orion Confectionery Co, Ltd.
8. Appendix
8.1 Disclaimer
8.2 Sources
LIST OF TABLES
1: Chocolate Market: Revenue in USD million, by Country, Asia-Pacific, 2015-2023
2: Chocolate Market: Revenue in USD million, by Product Type, Asia-Pacific, 2015-2023
3: Chocolate Market: Revenue in USD million, by Product Type, India, 2015-2023
4: Chocolate Market: Revenue in USD million, by Product Type, China, 2015-2023
5: Chocolate Market: Revenue in USD million, by Product Type, Australia, 2015-2023
6: Chocolate Market: Revenue in USD million, by Product Type, Japan, 2015-2023
7: Chocolate Market: Revenue in USD million, by Product Type, Rest of Asia-Pacific, 2015-2023
8: Chocolate Market: Revenue in USD million, by Distribution Channel, Asia-Pacific, 2015-2023
9: Chocolate Market: Volume in million Kg, by Country, Asia-Pacific, 2015-2023
10: Chocolate Market: Volume in million Kg, by Product Type, Asia-Pacific, 2015-2023
11: Chocolate Market: Volume in million Kg, by Product Type, India, 2015-2023
12: Chocolate Market: Volume in million Kg, by Product Type, China, 2015-2023
13: Chocolate Market: Volume in million Kg, by Product Type, Australia, 2015-2023
14: Chocolate Market: Volume in million Kg, by Product Type, Japan, 2015-2023
15: Chocolate Market: Volume in million Kg, by Product Type, Rest of Asia-Pacific, 2015-2023

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