Market Size of Asia-Pacific Chocolate Industry
|Study Period||2018 - 2028|
|Base Year For Estimation||2022|
|Forecast Data Period||2023 - 2028|
|Historical Data Period||2018 - 2021|
*Disclaimer: Major Players sorted in no particular order
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APAC Chocolate Market Analysis
- The Asia-Pacific Chocolate Market is projected to register a CAGR of 6.7% over the next five years.
- The market is primarily driven by emerging trends such as the healthy indulgence of low-fat and sugar-free chocolates due to consumers' growing health consciousness.
- According to the United States Drug Administration, a 101-gram (g) bar of dark chocolate with 70-85% cocoa solids provide 12.02 milligrams (mg) of iron, 230.00 mg of magnesium, 3.34 mg of zinc, which indeed gives protects against iron deficiency, anemia and the magnesium in chocolate helps prevent type II diabetes and high blood pressure. Due to these benefits, consumers gravitate toward products that claim to be made with dark chocolate. This is driving up the demand for chocolates and expanding their regional market.
- Additionally, due to rising consumer spending power and escalating marketing and promotional efforts, there has been an increase in demand for premium chocolates. Also, because of the growing tendency to give gifts sometimes, boxed assortment sales are increasing more quickly. Moreover, premium ranges are combined with other ingredients, such as almonds, raspberry chunks, or alcohol, and their packaging describes a more sophisticated feel.
- For instance, in June 2021, Mondelez International launched two Cadbury Chocolate Gift Cards. Available in two varieties and four designs, each pack contains a gift card with 20 Cadbury chocolate pralines, including Hazelnut Crème Hearts and White Chocolate Truffle Flowers.
- Furthermore, the market's trending drivers include the rising demand for sugar-free, gluten-free, organic, and vegan chocolates. Most health-conscious and knowledgeable consumers have started purchasing organic products due to growing awareness of synthetic products' harmful effects on human health and the environment.