Market Size of asia pacific chocolate Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 18.30 Billion |
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Market Size (2030) | USD 24.48 Billion |
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Largest Share by Distribution Channel | Convenience Store |
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CAGR (2024 - 2030) | 4.97 % |
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Largest Share by Country | Japan |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Asia Pacific Chocolate Market Analysis
The Asia Pacific Chocolate Market size is estimated at 18.30 billion USD in 2024, and is expected to reach 24.48 billion USD by 2030, growing at a CAGR of 4.97% during the forecast period (2024-2030).
18.30 Billion
Market Size in 2024 (USD)
24.48 Billion
Market Size in 2030 (USD)
3.05 %
CAGR (2018-2023)
4.97 %
CAGR (2024-2030)
Largest Segment by Confectionery Variant
63.92 %
value share, Milk and White Chocolate, 2023
The innovative flavor offerings possible in White chocolate, followed by the preference for varied taste profiles in the region, are anticipated to drive segmental growth.
Largest Segment by Distribution Channel
37.57 %
value share, Convenience Store, 2023
Rapid development in the sector with respect to the growing number of convenience stores across the region with an increased product base is making it the largest segment.
Fastest-growing Segment by Confectionery variant
5.24 %
Projected CAGR, Dark Chocolate, 2024-2030
The increasing demand for low-fat and sugar-free chocolates, catalyzed by growing health consciousness among individuals, is anticipated to drive demand for Dark Chocolate.
Fastest-growing Segment by Distribution Channel
5.20 %
Projected CAGR, Convenience Store, 2024-2030
With more market consolidations, partnerships, and, most noticeably, domestic players are investing more in convenience stores, it is one of the fastest-growing segments.
Leading Market Player
13.19 %
market share, Mondelēz International Inc., 2022
The active market activities, like product innovations and strategic moves by Mondelēz, along with the unique portfolio, are enabling the company to grow ales in the market.
Growing inclination toward convenience shopping inclined the segmental value with supermarket/ hypermarkets and convenience stores holding 70% share in 2023
- In the Asia-Pacific region, the overall retailing segment maintained a growth of 4.59% by volume in 2023 as compared to 2022. The growth is anticipated with the consumers' growing inclination for convenience shopping facilities. Under the overall retailing segment, the convenience store segment was considered the largest retailing unit by volume in 2023. Some of the famous stores in China are Easy Joy, uSmile, MYJ, and others. By 2025, the convenience store segment in Asia-Pacific is estimated to register a growth of 4.48% by volume.
- Supermarkets and hypermarkets are the second-largest retailers in the Asia-Pacific chocolate market. These stores tend to offer their customers a wide range of chocolate products with innovative offers. It is reported that the sales volume of chocolate products in supermarkets and hypermarkets grew by 4.22% in 2022 compared to 2021. A CAGR of 19.7% is anticipated to be registered in Asia-Pacific during 2023-2029. Chocolate holds the largest share of 58.8% among all the confectionery products sold through supermarkets and hypermarkets in 2023, anticipated with growing demand for premiumization.
- Online retailing or e-commerce retailing is considered the fastest-growing retailing segment in Asia-Pacific. The e-commerce business was holding a CAGR of 5.92% in 2023. The growing number of internet users across the region is the major factor influencing the acceleration of the growth of e-commerce websites.
- During the forecast period, it is estimated that these retailing units in Asia-Pacific will mark growth of 8.21% by volume share. The rising availability of ethenic flavors for confectionery products and demand for discount offers will likely drive the retail industry.
Understand The Key Trends Shaping This Market
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Japan and India drove the chocolate consumption in the region with the share of almost 50% by value with increasing focus on innovative premium chocolates
- Over the review period, the premium and super-premium segments of the market have been growing due to trends such as transparent sourcing and the incorporation of rare ingredients that offer a sense of exclusivity. Additionally, the growth of this segment of the market is being driven by the growing number of chocolate producers that have been focused on innovating unique premium chocolate products, coupled with increased consumer desire to try new products. By value, the Asia-Pacific chocolate market observed a growth of 4.16% in 2022 as compared to 2021.
- Japan and China are identified as the major markets in the region, followed by India and Australia. Japan and China collectively accounted for 52.02% of the chocolate value sales in 2022. Consumers across these countries consider chocolate an exotic delicacy, which is also brought as a luxury gift during the Lunar New Year as a luxurious treat. Thus, the consumption of chocolate has increased. China imported approximately USD 673.3 million worth of chocolate confectionery in 2021, while it was USD 485.77 million in 2020.
- Malaysia is identified as the fastest-growing chocolate market in Asia-Pacific. The market is anticipated to grow at a rate of 8.53% from 2024-2030 in terms of value. The country has a traditional approach toward the consumption of confectionery, where the recipes combine ingredients such as honey, sugar, almonds, walnuts, or crystallized fruits. Chocolates that appeal to health-oriented consumers, such as sugar-free or gluten-free chocolates, are becoming popular across the country due to the consistently increasing diabetic population. In 2021, diabetes prevalence in the country reached 19.2% (% of the population ages 20 to 79) in Malaysia.
