A new Transparency Market Research report states that the Asia Pacific chocolate market was valued at US$12.2 bn in 2012 and is predicted to reach US$18.2 bn by 2019. The market will expand at a 5.20% CAGR between 2013 and 2019. On the basis of volume, the consumption of chocolate in Asia Pacific stood at 822.6 mn kg in 2013 and is predicted to touch 1,087.8 mn kg in 2019, rising at a 4.80% CAGR from 2013 to 2019. The title of the report is “Asia Pacific Chocolate Market - Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2013 - 2019”.
Browse the full Asia Pacific Chocolate Market - Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/asia-pacific-chocolate-market.html
According to the report, the Asia Pacific chocolate market is fuelled by the large youth population base in Asia Pacific being large-scale potential consumers of chocolate. In addition, the increasing disposable incomes of consumers owing to improved economic conditions within this region are also driving the chocolate market in Asia Pacific. Additionally, the presence of a large number of distribution channels for chocolates, such as hypermarkets, departmental stores, and supermarkets, within the Asia Pacific region is also behind the increasing demand for chocolate in this region. Furthermore, commercialization and development of nutritional bars made to be consumed by diet-conscious customers is a prime opportunity seen in the Asia Pacific chocolate market. On the other hand, soaring costs of important raw materials raises the production cost of chocolates, thus impeding the growth of the market.
The report segments the market on the basis of product type and geography:
On the basis of product, the Asia Pacific chocolate market is segmented into boxed chocolates, straightline chocolates, molded chocolates, countline chocolates, novelties, and other chocolates. Amongst these, the segment of molded chocolates is expected to experience the highest growth rate in the forecast horizon. This is due to easy availability of these chocolates in prime retail chains. On the other hand, novelties have been recently introduced within the Asia Pacific chocolate market and will be highly demanded during the forecast period owing to their attractive shapes and creative variations on texture and flavor, thus having a positive impact on the growth of the Asia Pacific chocolate market.
On the basis of geography, the Asia Pacific chocolate market is segmented into countries such as New Zealand, China, Japan, South Korea, Malaysia, India, Singapore, and Rest of APAC. Amongst these, chocolates have the highest demand from India and China as compared to other countries. The reasons for the superiority of these two countries include the rising number of middle-class and upper-class consumers and growing youth population base in these two countries.As per the report, Ferrero S.P.A, Mondelez International Inc., Mars Inc., Hershey, Nestle, and Lotte Co., among others, are the prime players operating in the Asia Pacific chocolate market.
The APAC chocolate market is segmented as follows:
Chocolate Market by Type
- Boxed Chocolates
- Countline Chocolates
- Straightline Chocolates
- Molded Bars
- Other Chocolates
Asia Pacific Chocolate Market by Countries
- New Zealand
- South Korea
- Rest of APAC (The Philippines, Thailand, Indonesia, Hong Kong)
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