The
Asia Pacific chocolate market is expected to reach US$18.23 bn by
then end of 2019. This market is progressing at a CAGR of 5.2% within
a forecast period of 2013 to 2019, according to a research report
released by Transparency Market Research. The Asia
Pacific chocolate market was recorded at US$12.24 bn in 2012. The
report, titled “Asia Pacific Chocolate Market - Scenario, Trends,
Industry Analysis, Size, Share and Forecast, 2013 - 2019,” creates
an all-inclusive portrait of this market through product types and
country.
The
youth have always been the primary target consumers for all kinds of
chocolates. The Asia Pacific comprises a large percentage of children
and youth, favoring the growth rate of the Asia Pacific chocolate
market. One advantage that chocolates present is the ease with which
a consumer can eat them. Chocolates can therefore easily become a
part of the modern fast-paced lifestyle, where they can provide
food-based satisfaction as well as energy through sugar additives.
Chocolates are also being considered as a replacement food for
desserts and other sweets.
As
stated in the report, the primary driver of the Asia Pacific
chocolate market is the increasing number of individuals with higher
disposable incomes in the region. A greater percentage of the Asia
Pacific population can afford a better quality of consumer goods,
including chocolates. This factor, coupled with the high rate of
urbanization and a growing trend of adopting western culture has made
the Asia Pacific region an excellent location for regional and global
players to increase market penetration.
In
terms of volume, the Asia Pacific chocolate market is expanding at a
CAGR of 4.80% between 2013 and 2019. Chocolate consumption was
recorded at 822.60 mn kg in 2013, and is expected to reach 1,087.8 mn
kg by the end of the forecast period.
The
report creates a segmented analysis of the Asia Pacific chocolate
market on the basis of chocolate types and countries.
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On
the basis of type, the Asia Pacific chocolate market is divided into
molded bars, straightline chocolates, countline chocolates, boxed
chocolates, novelties, and other chocolates. The market is expected
to be spearheaded by increasing sales of molded chocolates in the
coming years. Molded bars are easier to manufacture and can be easily
transported, allowing companies to increase the availability of
molded chocolates in retail stores. Molded chocolates enjoy a higher
level of market demand as well.
One
of the fastest-growing segments in the Asia Pacific chocolate market
is expected to be novelty chocolates. This segment has only recently
been introduced to Asia Pacific. Owing to their unique nature and
attractive shapes, more consumers are attracted to them. Innovations
in the segments of molded chocolates and novelty chocolates are
expected to generate a favorable growth rate for the overall Asia
Pacific chocolate market.
The
regional analysis of the Asia Pacific chocolate market reveals China
to be dominant in the market in terms of demand, followed closely by
India, owing to a high population density and rapid urbanization.
The
key players in the Asia Pacific chocolate market are Lotte Co.,
Nestle, Hershey, Mars Inc., Mondelez International Inc., and Ferrero
S.P.A.
Key
segments of the Asia Pacific Chocolate Market
Chocolate
Market by Type
The
different types covered under this research study are defined as
follows:
- Boxed Chocolates
- Countline Chocolates
- Straightline Chocolates
- Molded Bars
- Novelties
- Other Chocolates
Asia
Pacific Chocolate Market by Countries
The
different countries covered under this research study are defined as
follows:
- Australia
- New Zealand
- China
- Japan
- India
- Malaysia
- Singapore
- South Korea
- Rest of APAC (Philippines, Thailand, Indonesia, Hong Kong)
About
Us
Transparency
Market Research (TMR) is a global market intelligence company,
providing global business information reports and services. Our
exclusive blend of quantitative forecasting and trends analysis
provides forward-looking insight for thousands of decision makers.
TMR’s experienced team of Analysts, Researchers, and Consultants,
use proprietary data sources and various tools and techniques to
gather and analyze information.
Our
data repository is continuously updated and revised by a team of
research experts, so that it always reflects the latest trends and
information. With a broad research and analysis capability,
Transparency Market Research employs rigorous primary and secondary
research techniques in developing distinctive data sets and research
material for business reports.
Contact
Mr.
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