Asia Pacific Chocolate Market : The study highlights current market trends and provides the forecast from 2013 – 2019

Increasing disposable income in emerging countries followed by product innovations by chocolate manufacturers are attracting consumers of all the age groups to eat chocolates. In addition, chocolates are popular among youths and Asia Pacific comprises a significant youth population, i.e. more than 50%. High raw material cost is restraining competition in the overall APAC chocolate market. Manufacturers support the cocoa suppliers economically, which leads to improved supply of cocoa to chocolate manufacturers. The consumption of chocolates is expected to increase during the forecast period in Asia Pacific. In addition, the demand for dark chocolate category is increasing among consumers due to its health benefits. For instance, dark chocolate improves the body’s antioxidant level, hence reduces the risk of heart disease.

The market forces such as bargaining power of buyers and bargaining of suppliers are expected to increase from low to medium in the next six years. Asia Pacific chocolate market is a concentrated market and competition is high amongst the major market players. Product innovations and mergers and acquisition are among few strategies followed by leading manufactures. Distribution channels such as supermarkets/ hypermarkets and departmental stores are increasing in number which is leading to increasing demand of chocolates in Asia Pacific countries. In supermarket and hypermarket, the varieties and visibility of chocolates is more than the other stores, and hence they accounts for maximum share of chocolates sale. Therefore, increasing number of distribution channels such as supermarkets/hypermarkets is expected to increase demand of chocolates over the forecast period.

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Asia Pacific chocolate market was valued at USD 12.24 billion in 2012 growing at a CAGR of 5.2 % from 2013 to 2019. This market is further expected to reach USD18.23 billion in 2019. The consumption of Chocolate in terms of volume is expected to reach1087.8 million Kg in 2019 from 822.6 million kg in 2013; growing at a CAGR of 4.8 % during the forecast period.

In Asia Pacific, the demand of chocolates is mainly driven by increasing disposable income and presence of large proportion of youth. Among the six types of chocolates, i.e., boxed chocolate, countline chocolate, straightline chocolate, molded bars novelties and others, the molded bars is expected to grow at a higher growth rate as compared to other types of chocolates. The growth is primarily attributed to the changing food habits in APAC. , In addition, consumers are following western food habits and are experimenting with new varieties of chocolates. Mondelez International, Inc, Mars, Incorporated and Nestle S.A. are among leading players in Asia Pacific chocolate market.

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In Asia Pacific, the demand of chocolates is mainly driven by increasing disposable income and presence of large proportion of youth. Among the six types of chocolates, i.e., boxed chocolate, countline chocolate, straightline chocolate, molded bars novelties and others, the molded bars is expected to grow at a higher growth rate as compared to types of chocolates. The growth is primarily attributed to the changing food habits; in APAC, consumers are following western food habits and are experimenting with new varieties of chocolates. Mondelez International, Inc, Mars, Incorporated and Nestlé S.A. are among leading players in Asia Pacific chocolate market.

Table of Content

1. PREFACE

2. EXECUTIVE SUMMARY

3. CHOCOLATE MARKET: INDUSTRY ANALYSIS AND OVERVIEW

4. ASIA PACIFIC CHOCOLATE MARKET – BY PRODUCT, 2013- 2019

5. CHOCOLATE MARKET – REGIONAL ANALYSIS , 2013- 2019

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