Asia Pacific Chocolate Market: Report Highlights The Competitive Scenario With Impact Of Drivers till 2019

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.

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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.

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.

Key Facts About the Asia Pacific Chocolate Market: Read More Below

Chocolate is one of the most favorite sweet snacks among all the age groups especially, kids and youths with distinct taste of cocoa and varieties of chocolates. By product types, chocolates are classified into boxed chocolate, countline chocolate, straightline chocolate, molded bars, novelties and others (that include small size candies, alfazores). Increasing disposable income in emerging countries such as India and China, changing taste preferences and following of western food habits in Asian countries are some of the major factors driving the chocolate market in Asia Pacific at present. 

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The demand for molded bars is increasing among all age groups due to its easy availability in major retail channels. Thus, the demand for molded bars is expected to increase during the forecast period. In the last decade, health awareness has increased among consumers and therefore there has been a dramatic increase in sales of sugar free, reduced fat and reduced calorie offerings. Dark chocolate is known to lower both blood pressure and cholesterol and this has increased demand of dark chocolates, especially in molded bars categories.. However, countline chocolates are more popular among teenagers and consumers under 30 years of age. In addition, manufacturers are introducing this product in large bite size in order to increase the consumption through special advertisement to buy large packs. For instance, munch and perk at the time of introduction were available in small- size but at present they are available also in big bite sizes.

Chocolate manufacturers are emphasizing on the raw material quality primarily cocoa. The cocoa quality has a direct impact on the quality of chocolates. Therefore, maximum chocolate manufacturers go through the quality check of the cocoa being supplied in order to avoid any variance in taste. Moreover, other raw materials such as sugar, milk, fruits and nuts among others require extensive quality checks to maintain the quality of the product. In addition, the price of crucial raw material, i.e., cocoa varies and is increasing due to their demand in other industry such as bakery and beverages. Furthermore, the economic conditions of the countries supplying cocoa are unstable. Therefore, chocolate manufacturers enter into the long term relationship with the supplier to cope up with the fluctuating prices of the raw materials.

The overall APAC market is expected to grow at a single digit CAGR over the next six years. However, in few emerging economies of Asia Pacific, the market is expected to grow at a double digit CAGR over the forecast period. The report has been segmented by types of chocolates and countries. It also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the chocolate market. The study highlights current market trends and provides the forecast from 2013 to 2019.

By country the market has been segmented into the Australia, New Zealand, China, Japan, India, Malaysia, Singapore, South Korea and Rest of APAC (Indonesia, Philippines, Thailand, and Hong Kong). The present market size and forecast till 2019 is covered in the report. The report also analyzes macro economic factors influencing and inhibiting the growth of chocolate market. Porter’s five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. This report is for manufacturers, suppliers and distributors in this industry. The focus is to provide the present and future trends in this market for manufacturers and it will help them formulate their strategies accordingly.

Asia Pacific Chocolate Market to Grow at a CAGR of 5.2% by 2019

Chocolate is one of the most favorite sweet snacks among all the age groups especially, kids and youths with distinct taste of cocoa and varieties of chocolates. By product types, chocolates are classified into boxed chocolate, countline chocolate, straightline chocolate, molded bars, novelties and others (that include small size candies, alfazores). Increasing disposable income in emerging countries such as India and China, changing taste preferences and following of western food habits in Asian countries are some of the major factors driving the chocolate market in Asia Pacific at present. 

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The demand for molded bars is increasing among all age groups due to its easy availability in major retail channels. Thus, the demand for molded bars is expected to increase during the forecast period. In the last decade, health awareness has increased among consumers and therefore there has been a dramatic increase in sales of sugar free, reduced fat and reduced calorie offerings. Dark chocolate is known to lower both blood pressure and cholesterol and this has increased demand of dark chocolates, especially in molded bars categories.. However, countline chocolates are more popular among teenagers and consumers under 30 years of age. In addition, manufacturers are introducing this product in large bite size in order to increase the consumption through special advertisement to buy large packs. For instance, munch and perk at the time of introduction were available in small- size but at present they are available also in big bite sizes.

Chocolate manufacturers are emphasizing on the raw material quality primarily cocoa. The cocoa quality has a direct impact on the quality of chocolates. Therefore, maximum chocolate manufacturers go through the quality check of the cocoa being supplied in order to avoid any variance in taste. Moreover, other raw materials such as sugar, milk, fruits and nuts among others require extensive quality checks to maintain the quality of the product. In addition, the price of crucial raw material, i.e., cocoa varies and is increasing due to their demand in other industry such as bakery and beverages. Furthermore, the economic conditions of the countries supplying cocoa are unstable. Therefore, chocolate manufacturers enter into the long term relationship with the supplier to cope up with the fluctuating prices of the raw materials.

The overall APAC market is expected to grow at a single digit CAGR over the next six years. However, in few emerging economies of Asia Pacific, the market is expected to grow at a double digit CAGR over the forecast period. The report has been segmented by types of chocolates and countries. It also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the chocolate market. The study highlights current market trends and provides the forecast from 2013 to 2019.

By country the market has been segmented into the Australia, New Zealand, China, Japan, India, Malaysia, Singapore, South Korea and Rest of APAC (Indonesia, Philippines, Thailand, and Hong Kong). The present market size and forecast till 2019 is covered in the report. The report also analyzes macro economic factors influencing and inhibiting the growth of chocolate market. Porter’s five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. This report is for manufacturers, suppliers and distributors in this industry. The focus is to provide the present and future trends in this market for manufacturers and it will help them formulate their strategies accordingly.

Asia Pacific Chocolate Market Progressing at a CAGR of 5.2% by 2019

Asia Pacific Chocolate Market: Snapshot

The Asia Pacific chocolate market has enjoyed rapid growth over the last few decades due to the urbanization drive in emerging economies in the region. Urbanization has created a sustainable consumer demographic for the Asia Pacific chocolate market and has also led to the development of adequate sales networks to make the most of the growing demand. Rising investment by foreign players in emerging markets in the region is also likely to remain a key driver for the Asia Pacific chocolate market in the coming years. The Asia Pacific chocolate market is thus likely to remain a leading contributor to the global chocolate industry in the coming years.

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According to Transparency Market Research (TMR), the Asia Pacific chocolate market is likely to reach a valuation of US$18.2 bn by 2019.

Growing Disposable Income of Youth Population Vital for Asia Pacific Chocolate Market

One of the prime drivers for the Asia Pacific chocolate market is the rising disposable income of the urban population, and particularly the steady growth of a youth demographic with rising disposable income. The widespread adoption of the urban lifestyle in emerging countries has made the youth demographic important for the Asia Pacific chocolate market, as their demand for chocolate is also higher than the demand from other demographics, including more affluent ones. According to UN statistics, Asia Pacific is home to nearly 60% of the world’s youth population, making the region crucial for the global chocolate market. The Asia Pacific chocolate market is thus likely to exhibit steady growth in the coming years.

Growing use of digital television as well as other digital media has also boosted the prospects for advertising of chocolate products. This is likely to remain a key driver for the Asia Pacific chocolate market, as consumers in the region are becoming a vital demographic for digital media viewing, aided by the booming regional smartphone industry.

Helped by the widespread urbanization initiatives in Asia Pacific, the distribution network of the Asia Pacific chocolate market has grown rapidly in the last few years. The easy availability of chocolate products at small-scale local stores as well as supermarkets has been vital in ensuring consistent growth in demand from the Asia Pacific chocolate market. Regional chocolate producers have also been helped by the ready availability of widespread distribution networks and could also become an important part of the Asia Pacific chocolate market in the coming years.

Japan Likely to Dominate Asia Pacific Chocolate Market, Molded Bars Likely to Stay Popular Product Type

Regionally, Japan is the leading contributor to the Asia Pacific chocolate market and is likely to retain the position in the coming years due to the growing popularity of chocolates as a gift. The Japan chocolate market is likely to be dominated by sugar-free, low-sugar, and dark chocolate in the coming years due to the rising health awareness among the population and the growing geriatric population. The Japan chocolate market is expected to reach a valuation of US$4.6 bn by 2019. The booming dairy industry in India could also become a crucial factor for the Asia Pacific chocolate market in the coming years.

The report also profiles the competitive dynamics of the Asia Pacific chocolate market by analyzing the figures of the leading players in the market. Key players examined in the report include Ferrero S.p.A., The Hershey Company, Mars Inc., Nestle SA, and Lotte Co. Ltd.

Asia Pacific Chocolate Market to Reach US$18.2 bn by 2019

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.

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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 key players in the Asia Pacific chocolate market are Lotte Co., Nestle, Hershey, Mars Inc., Mondelez International Inc., and Ferrero S.P.A.

Growing Disposable Income of Youth Population Vital for Asia Pacific Chocolate Market

Asia Pacific Chocolate Market: Snapshot

The Asia Pacific chocolate market has enjoyed rapid growth over the last few decades due to the urbanization drive in emerging economies in the region. Urbanization has created a sustainable consumer demographic for the Asia Pacific chocolate market and has also led to the development of adequate sales networks to make the most of the growing demand. Rising investment by foreign players in emerging markets in the region is also likely to remain a key driver for the Asia Pacific chocolate market in the coming years. The Asia Pacific chocolate market is thus likely to remain a leading contributor to the global chocolate industry in the coming years.

According to Transparency Market Research (TMR), the Asia Pacific chocolate market is likely to reach a valuation of US$18.2 bn by 2019.

Growing Disposable Income of Youth Population Vital for Asia Pacific Chocolate Market

One of the prime drivers for the Asia Pacific chocolate market is the rising disposable income of the urban population, and particularly the steady growth of a youth demographic with rising disposable income. The widespread adoption of the urban lifestyle in emerging countries has made the youth demographic important for the Asia Pacific chocolate market, as their demand for chocolate is also higher than the demand from other demographics, including more affluent ones. According to UN statistics, Asia Pacific is home to nearly 60% of the world’s youth population, making the region crucial for the global chocolate market. The Asia Pacific chocolate market is thus likely to exhibit steady growth in the coming years.

Growing use of digital television as well as other digital media has also boosted the prospects for advertising of chocolate products. This is likely to remain a key driver for the Asia Pacific chocolate market, as consumers in the region are becoming a vital demographic for digital media viewing, aided by the booming regional smartphone industry.

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Helped by the widespread urbanization initiatives in Asia Pacific, the distribution network of the Asia Pacific chocolate market has grown rapidly in the last few years. The easy availability of chocolate products at small-scale local stores as well as supermarkets has been vital in ensuring consistent growth in demand from the Asia Pacific chocolate market. Regional chocolate producers have also been helped by the ready availability of widespread distribution networks and could also become an important part of the Asia Pacific chocolate market in the coming years.

Japan Likely to Dominate Asia Pacific Chocolate Market, Molded Bars Likely to Stay Popular Product Type

Regionally, Japan is the leading contributor to the Asia Pacific chocolate market and is likely to retain the position in the coming years due to the growing popularity of chocolates as a gift. The Japan chocolate market is likely to be dominated by sugar-free, low-sugar, and dark chocolate in the coming years due to the rising health awareness among the population and the growing geriatric population. The Japan chocolate market is expected to reach a valuation of US$4.6 bn by 2019. The booming dairy industry in India could also become a crucial factor for the Asia Pacific chocolate market in the coming years.

By form, molded bars are likely to be the leading contributor to the Asia Pacific chocolate market in the coming years. The convenience of molded chocolate bars in packaging and distribution as well as consumption will help ensure a steady rise in demand for molded bars in the Asia Pacific chocolate market. Countline chocolate is the next in line and is also likely to remain a leading contributor to the Asia Pacific chocolate market in the coming years.

The report also profiles the competitive dynamics of the Asia Pacific chocolate market by analyzing the figures of the leading players in the market. Key players examined in the report include Ferrero S.p.A., The Hershey Company, Mars Inc., Nestle SA, and Lotte Co. Ltd.

Asia Pacific Chocolate Market is Expected to be worth US$18.23 bn in 2019

The Asia Pacific chocolate market is concentrated, nearly with the top five players accounting for over 60% of the market in 2012. Frequent mergers and acquisitions are taking place in the industry with players competing to increase their market share. At the same time, players are striving for product innovation to attract consumers. However, what acts as a challenge and advantage for companies is that a strong sense of brand loyalty exists among consumers. The chocolate market faces a medium level of threat from substitutes such as snack bars, bakery products, and regional sweet varieties. The threat of new entrants is likely to remain low owing to the capital intensive nature of the industry and high interference from regulatory bodies.

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According to the report, the Asia Pacific chocolate market is expected to be worth US$18.23 bn in 2019. On the basis of chocolate type, the molded bar chocolate segment will continue to lead and be worth US$5,543.9 mn by 2019. By geography, Australia is projected to remain the dominant regional segment and will be worth US$3,776.65 mn by 2019.

Increasing popularity of Chocolate as Gifting Option to Drive Market in Asia Pacific

Consumers in Asia Pacific are increasingly making use of chocolates as a gifting option. Attractive packaging and availability of newer variants are making chocolates an attractive gifting option. Boxed chocolates are one of those categories that are being increasingly used for gifting purposes. Another factor contributing to the Asia Pacific chocolate market is the rising disposable income of consumers, which in turn allows impulse purchases of chocolates. In addition to this, Asia Pacific have 717 mn people in the age group of 15 to 24 years, as per the United Nations Economic and Social Commission for Asia and the Pacific. This is benefitting the growth of the market because chocolates are most popular among consumers in this age group.

Increased Chocolate Cost to Hamper Demand

Chocolates make use of cocoa as their main ingredient and cocoa production is specific only to particular regions. This results in a shortage for cocoa. In addition to this, cocoa is also in demand from bakeries, restaurants, and beverage companies, further leading to a shortage in supply. As such, the price of cocoa is increasing continuously. This in turn is increasing the cost of chocolate production, thus ultimately resulting in lower purchases by consumers. The high cost of chocolate is an issue with cost-sensitive consumers residing in Asia Pacific and thus, the market is bound to be affected adversely.

Development of Nutritional Bars for Health Conscious Consumers to Widen Scope of Chocolate Market

Consumers in Asia Pacific are shifting their preferences towards healthy food products. “Manufacturers are thus, concentrating on developing chocolates that are low in calories and in sugar content so that chocolates continue to appeal to the expanding segment of health conscious people,” says a TMR analyst. In addition to this, health benefits of dark chocolate are expected to lead to an increased demand, thus benefitting the Asia Pacific chocolate market significantly.

Increasing advertisements and extensive marketing strategies adopted by players are anticipated to create opportunities in the untapped markets of Asia Pacific. Increasing the distribution network to the untapped markets will help boost the market in the coming years.

This information is based on the findings of a report published by Transparency Market Research, titled “Asia Pacific Chocolate Market - Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2013 - 2019.”

The Asia Pacific chocolate market is segmented as follows:

Chocolate Market by Type

• Boxed Chocolates
• Countline Chocolates
• Straightline Chocolates
• Molded Bars
• Novelties
• Other Chocolates

Asia Pacific Chocolate Market by Countries

• Australia
• New Zealand
• China
• Japan
• India
• Malaysia
• Singapore
• South Korea
• Rest of APAC (Philippines, Thailand, Indonesia, Hong Kong)

Demand for Low Calorie Chocolates to Surge in Asia Pacific as Consumers Become More Health Conscious, states TMR

The Asia Pacific chocolate market is concentrated with the top five players accounting for above 60% of the market in 2012. Players in the market are constantly participating in mergers and acquisitions and also focusing on product innovation. There is moderate threat from substitutes such as snack bars, regional sweets, and bakery products, which will continue to remain in the coming years. Threat from new entrants is expected to be low owing to the capital intensive nature of the industry and interference of regulatory bodies, Transparency Market Research (TMR) finds in a new study.

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According to the report, the Asia Pacific chocolate market is expected to be worth US$18.23 bn by 2019. By product, the molded bar chocolate segment is expected to lead and account for US$5543.9 mn by 2019. The rising demand for dark chocolates owing to the rising health concerns among the people in the region is behind the escalated growth of the molded bar chocolate segment. The chocolate market in Japan is expected to reach US$4656.23 mn in 2019. China is also one of the prominent markets for chocolates in Asia Pacific.

Visual Merchandising in Retail Stores to Increase Purchase of Chocolates

The rising per capita income of the people in Asia Pacific owing to the economic growth in the past few years is supporting impulsive purchases of chocolates among consumers. Additionally, retailers trigger impulsive purchase among consumers by prominently displaying chocolates at checkout aisles. Chocolate is increasingly becoming popular as a gifting option in the Asia Pacific region. This will allow demand for chocolates to rise considerably in the forthcoming years.

Asia Pacific comprises 60% of the world youth population. Since youth forms an important consumer segment for chocolates, the demand for various types of chocolates is expected to surge in Asia Pacific. Additionally, “Advertisements and promotions aimed at this age group also play a vital role in driving the market,” states a TMR analyst. The number of department stores, mass merchandisers, and duty free shops at airports has increased due to infrastructure development in the region, which is driving the chocolate market

High Cost of Cocoa to Become Cause of Concern for Chocolate Manufacturers

Cocoa is high in demand, but their production is limited to specific regions. This increases the price of cocoa in the international market. “The price of cocoa is expected to continue to remain high owing to their rising demand from restaurants, bakeries, and beverage companies,” says a TMR analyst. This is increasing the production cost of chocolates, negatively influencing their demand. High price of sugar, which is another prime ingredient in chocolates, will also impact the prices of chocolates. Thus, the chocolate market in Asia Pacific will be restricted by rising prices of chocolates.

Development of Nutritional Bars to Widen Scope of Chocolate Market

The rising health awareness among consumers in Asia Pacific is fueling the demand for low calorie chocolates. Therefore, chocolate manufacturers are increasingly concentrating on the development of chocolates with numerous health benefits, in order to tap the health conscious consumer segment. Manufacturers are making use of dark chocolates, which reduce insulin resistance and the risk of heart diseases and improve the body’s antioxidant levels.

Another significant opportunity in the market lies in the tier 2 and tier 3 countries of Asia Pacific. Chocolate novelties are yet to make a significant impact in these countries and thus, there is an immense scope of growth. Regular advertisements and intense marketing programs can help create a lucrative market for chocolate novelties in these untapped countries. Increasing the distribution channel in these areas will help increase accessibility and convenience to buy chocolates, thus boosting the market in the coming years.

This information is based on the findings of a report published by Transparency Market Research titled “Asia Pacific Chocolate Market - Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2013 - 2019”

The Asia Pacific chocolate market is segmented as follows:

Type

• Boxed Chocolates
• Countline Chocolates
• Straightline Chocolates
• Molded Bars
• Novelties
• Other Chocolates

Countries

• Australia
• New Zealand
• China
• Japan
• India
• Malaysia
• Singapore
• South Korea
• Rest of APAC (Philippines, Thailand, Indonesia, Hong Kong)

Asia Pacific Chocolate Market to Reach US$18.2 bn by 2019 owing to Presence of Large Number of Distribution Channels

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)

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Asia Pacific Chocolate Market - Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2013 – 2019

According to the analysts at Transparency Market Research (TMR), the Asia Pacific chocolate market the region is estimated to expand at a CAGR of 5.2% during the period from 2013 to 2019.The research study, titled “Asia Pacific Chocolate Market - Scenario, Trends, Industry Analysis, Size, Share and Forecast, 2013 - 2019”, notes that the Asia Pacific market for chocolates stood at US$12.24 billion in 2012. Since then, the market has reported immense growth and is expected to attain a market value of US$18.23 billion by the end of the forecast period.In Asia Pacific, the consumption of chocolate is going through a phase of rapid change on account of changing preferences and, accordingly, food habits of consumers. This shift is highly influenced by the eating patterns in Western economies, states the report.

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The chocolate market in Asia Pacific has been classified into the markets for countline chocolate, boxed chocolate, straightline chocolate, novelties, molded bars, and others in this report. Among these, the market for molded bars is likely to develop at a high growth rate over the forecast period. The easy availability of molded bars in major retail chains is making these chocolates immensely popular and resulting in extensive market development. On account of this, the demand for molded bars is projected to register healthy growth during the forecast period.Novelties have just been introduced in the Asia Pacific market for chocolates. The attractive shapes of novelties are the key factor working in their favor, and hence, the demand for these chocolates is likely to grow at an impressive pace between 2013 and 2019. Innovative variations in the taste of novelties are also expected to stimulate the growth of this market.

The presence of a huge youth population base is the main reason behind the growth of the chocolate market in Asia Pacific, determines the report. The rise in disposable income is another factor driving the chocolate market in this region. Chocolates are easy to consume on the go, and thus fit into the fast-paced lifestyle of the younger generation. With variable shapes, sizes, and varieties, chocolates are also preferred as a substitute for desserts and sweets. These factors are influencing the demand for chocolates to a great extent in the region.The report projects China and India to have the highest demand for chocolates during the forecast period, compared to other nations in the Asia Pacific region. High youth population base and rise in the number of upper- and middle-class consumers are the major reasons behind this growth.The major companies operating in the Asia Pacific chocolate market profiled in this report are Ferrero S.P.A, Mondelez International Inc., Mars Inc., Hershey, Nestle, and Lotte Co.The report offers insightful information for the market players in order to assist them in making fruitful decisions for business expansion and to gain competitive edge over peers.

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Asia Pacific chocolate market is segmented into:

By types

• Boxed Chocolates
• Countline Chocolates
• Straightline Chocolates
• Molded Bars
• Novelties
• Other Chocolates

By countries

• Australia
• New Zealand
• China
• Japan
• India
• Malaysia
• Singapore
• South Korea
• Rest of APAC (Philippines, Thailand, Indonesia, Hong Kong)

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Asia Pacific Chocolate Market to Develop at 5.2% CAGR from 2013 to 2019

Chocolate is one of the most favorite sweet snacks among all the age groups especially, kids and youths with distinct taste of cocoa and varieties of chocolates. By product types, chocolates are classified into boxed chocolate, countline chocolate, straightline chocolate, molded bars, novelties and others (that include small size candies, alfazores). Increasing disposable income in emerging countries such as India and China, changing taste preferences and following of western food habits in Asian countries are some of the major factors driving the chocolate market in Asia Pacific at present.

The demand for molded bars is increasing among all age groups due to its easy availability in major retail channels. Thus, the demand for molded bars is expected to increase during the forecast period. In the last decade, health awareness has increased among consumers and therefore there has been a dramatic increase in sales of sugar free, reduced fat and reduced calorie offerings. Dark chocolate is known to lower both blood pressure and cholesterol and this has increased demand of dark chocolates, especially in molded bars categories.. However, countline chocolates are more popular among teenagers and consumers under 30 years of age. In addition, manufacturers are introducing this product in large bite size in order to increase the consumption through special advertisement to buy large packs. For instance, munch and perk at the time of introduction were available in small- size but at present they are available also in big bite sizes.

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Chocolate manufacturers are emphasizing on the raw material quality primarily cocoa. The cocoa quality has a direct impact on the quality of chocolates. Therefore, maximum chocolate manufacturers go through the quality check of the cocoa being supplied in order to avoid any variance in taste. Moreover, other raw materials such as sugar, milk, fruits and nuts among others require extensive quality checks to maintain the quality of the product. In addition, the price of crucial raw material, i.e., cocoa varies and is increasing due to their demand in other industry such as bakery and beverages. Furthermore, the economic conditions of the countries supplying cocoa are unstable. Therefore, chocolate manufacturers enter into the long term relationship with the supplier to cope up with the fluctuating prices of the raw materials.

The overall APAC market is expected to grow at a single digit CAGR over the next six years. However, in few emerging economies of Asia Pacific, the market is expected to grow at a double digit CAGR over the forecast period. The report has been segmented by types of chocolates and countries. It also includes the drivers, restraints and opportunities (DROs), Porter’s five forces analysis and value chain of the chocolate market. The study highlights current market trends and provides the forecast from 2013 to 2019.

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By country the market has been segmented into the Australia, New Zealand, China, Japan, India, Malaysia, Singapore, South Korea and Rest of APAC (Indonesia, Philippines, Thailand, and Hong Kong). The present market size and forecast till 2019 is covered in the report. The report also analyzes macro economic factors influencing and inhibiting the growth of chocolate market. Porter’s five forces analysis offers insights on market competition throughout its value chain. In addition, the market attractiveness analysis provided in the report highlights key investing areas in this industry. This report is for manufacturers, suppliers and distributors in this industry. The focus is to provide the present and future trends in this market for manufacturers and it will help them formulate their strategies accordingly.

The Asia Pacific Chocolate market here refers to the market by product type and by country. The market is categorized into the following segments:

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)

The in-depth research and high level analysis will allow Chocolate vendors to make informed decisions about the Chocolate market, formulate growth strategies and gain competitive advantage.

Browse the full Press Release:http://www.transparencymarketresearch.com/pressrelease/asia-pacific-chocolate-market.htm

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. Atil Chaudhari   

90 State Street, Suite 700

Albany, NY 12207

Tel: +1-518-618-1030

USA - Canada Toll Free: 866-552-3453

Email: sales@transparencymarketresearch.com

Website: http://www.transparencymarketresearch.com