Asia Pacific Chocolate Market Report and Forecast 2025-2034

Asia Pacific Chocolate Market Size

The chocolate market in Asia Pacific was valued at USD 18.79 billion in 2024. The market is further projected to grow at a CAGR of 5.5% between 2025 and 2034, reaching a value of USD 30.51 billion by 2034.

Asia Pacific Chocolate Market Outlook

• In the Asia Pacific region, the unique flavours of chocolate encompass miso caramel, mint ginger, lychee rose green tea, kalamansi lime, Turkish coffee with cardamom, and coffee crunch cake bar.

• As per industry reports, store-based retailers play a significant role in the distribution of chocolate products, offering easy accessibility to consumers through supermarkets, convenience stores, and speciality chocolate shops which can contribute to the Asia Pacific chocolate market value.

• Notable players in the market are Mars, Incorporated, Mondelez International, Inc., Ferrero International S.A., Nestlé S.A., and The Hershey Company.

Asia Pacific Chocolate Market Growth

The market is segmented into dark chocolate, milk chocolate, and white chocolate. Milk chocolate holds a large chocolate market share in Asia Pacific due to its popularity and versatility in various applications like bakeries, biscuits, cookies, ice creams, and dairy products.

Dark chocolate is expected to witness growth driven by the rising demand for its health benefits and the increasing preference for higher cocoa-content products which can further boost the growth of the Asia Pacific chocolate market. For example, companies like Nestle and Mars are introducing dark chocolate products with higher cocoa content and lower sugar content to cater to health-conscious consumers. White chocolate, known for its creamy and sweet flavour, appeals to consumers seeking a mildly sweet taste profile and is often used in confectionery and dessert applications.

Furthermore, consumers have easy access to a wide variety of chocolate products due to the growth of supermarkets, convenience stores, and speciality chocolate shops, among others. The E-commerce sector has also contributed to the market by providing a convenient way for consumers to purchase chocolate products.

Asia Pacific Chocolate Market Trends

The influence of Western lifestyles and the increasing preference for chocolates over traditional sweets are further fuelling the chocolate demand in Asia Pacific. For example, in India, the growing prominence of bakeries and confectionaries that are influenced by western lifestyles is driving the demand for chocolates, especially in the urban region.

These trends, coupled with the region's large youth population, increasing per capita income, and the rise of e-commerce platforms, are key factors propelling the market growth. For instance, the e-commerce platform Alibaba reported a 47% increase in sales in 2020, indicating the growing popularity of online shopping for chocolates in the region as well.

Recent Developments

As per the Asia Pacific chocolate market analysis, Mars Wrigley announced the launch of Galaxy Flutes, a new product to the Galaxy lineup, in India in July 2024. This chocolate is composed of crispy wafers and smooth chocolate fillings along with milk chocolate fillings and is expected to give competition to other major players in the Indian market.

Industry Outlook

As per the Asia Pacific chocolate industry analysis, the total cocoa bean consumption in China was around 64,127.70 tons in 2022. International market players occupy around 70% of the market share in China with the growing prevalence of brands such as Mars, Cadbury, and Ferrero as well as the rise of international brands in urban areas such as Beijing and Hong Kong, among others. The remaining 30% is composed of local brands such as Leconte which is more prevalent in small cities and towns.

The total import of cocoa and cocoa preparations in Japan in 2022 was around 267,200 metric tonnes. Its top importer was Malaysia with 15.9%, followed by Singapore with 15.6%, and Ghana with 10.3%. Moreover, in 2021, Japan witnessed a total sale of USD 6.9 billion due to chocolate confectionary and chocolate biscuits, among other chocolate-based food products, which increased the Asia Pacific chocolate industry revenue. Brick-and-mortar grocery retailers are the biggest distribution channels of chocolate in Japan with a share of 40.7% followed by mixed retailers at 40.1% and e-commerce at only 6.6%.

As per the industry data for 2024, in the past five years, around 13.5% of new chocolate products in the APAC region posed a smooth velvety texture, which showcases a rising trend towards soft and silky chocolate textures in the region, further contributing to the growth of the chocolate industry in the Asia Pacific. In the past years, the small-scale providers of artisanal chocolates in Southeast Asia have witnessed an upward trend with the rise of speciality shops in the region.

The Growth of the Asia Pacific Market Driven by Rising Disposable Income and Westernization

• Rising Disposable Income: Increasing disposable income and changing lifestyles in the Asia Pacific region drive the demand for premium and luxury chocolate products and aid Asia Pacific chocolate demand growth.

• Westernization: The growing influence of Western culture and preferences boosts the popularity of chocolate in the region.

• Product Innovation: Continuous innovation in flavours, packaging, and product formats attracts a diverse consumer base.

• Festive and Gifting Culture: The tradition of gifting chocolates during festivals and special occasions enhances market demand.

Challenges Impacting the Growth of the Asia Pacific Market Include Price Sensitivity and Supply Chain Issues

• Price Sensitivity: Price-sensitive consumers in some Asia Pacific markets may limit the growth of premium chocolate segments which can negatively affect the Asia Pacific chocolate demand forecast.

• Supply Chain Issues: Challenges in the supply chain, such as sourcing high-quality cocoa and maintaining product quality during transportation, can affect market growth.

• Competition: Intense competition from both international and local brands can impact market share and pricing strategies.

• Health Concerns: Growing health consciousness and concerns about sugar intake can affect chocolate consumption patterns.

Opportunities in the Asia Pacific Market Driven by E-commerce and Emerging Markets

• E-commerce Growth: The rapid growth of e-commerce platforms provides opportunities for expanding the reach and sales of chocolate products and can increase Asia Pacific chocolate market opportunities.

• Emerging Markets: The rising population of middle-class and growing disposable incomes support market growth.

• Health-Conscious Products: The rise of health-conscious chocolate products, such as sugar-free chocolates caters to health-aware consumers.

• Local Flavors: Usage of local flavours in chocolate products to appeal to regional tastes and preferences.

Setbacks Faced by the Asia Pacific Chocolate Market Share Due to Economic Fluctuations and Regulatory Challenges

• Economic Fluctuations: Economic downturns can impact consumer spending on non-essential items like chocolates, affecting market demand.

• Regulatory Challenges: Navigating diverse regulatory landscapes and ensuring compliance with food safety standards can be challenging and affect Asia Pacific chocolate market revenue.

• Raw Material Costs: Fluctuations in the prices of raw materials, such as cocoa and sugar, can impact production costs and pricing.

• Consumer Preferences: Shifts in consumer preferences towards healthier snacks and alternatives can limit chocolate consumption.

Key Players in the Asia Pacific Chocolate Market and Their Strategic Initiatives:

Nestlé S.A.

• Product Diversification: Expanding its product portfolio to include a wide range of chocolate products catering to different consumer segments.

• Local Production: Investing in local production facilities to reduce costs and enhance supply chain efficiency boosts demand of Asia Pacific chocolate market.

• Health and Wellness: Developing healthier chocolate options with reduced sugar and added nutritional benefits.

Mondelez International, Inc.

• Market Penetration: Targeted marketing campaigns and promotions boost market penetration.

• Brand Portfolio: Establishing a strong brand portfolio to appeal to various segments and preferences.

• Sustainability Initiatives: Implementing sustainability initiatives to ensure responsible sourcing of cocoa and other ingredients can increase chocolate consumption in Asia Pacific.

The Hershey Company

• E-commerce Expansion: Enhancing e-commerce capabilities to capture the growing online consumer base in the region.

• Innovation Focus: Increased investment in unique flavours that appeal to regional tastes.

• Consumer Engagement: Engaging with consumers through digital platforms and social media to build brand loyalty and awareness is a crucial trend in Asia Pacific chocolate market.

Ferrero International S.A.

• Festive Products: Developing special products for festive occasions to boost seasonal sales.

• Premium Positioning: Premium and luxury chocolate can attract high-income consumers.

• Local Partnerships: Forming partnerships with local distributors and retailers to expand Asia Pacific chocolate industry reach and accessibility.

Mars, Incorporated

• Supply Chain Optimization: Supply chain optimisation for timely delivery and product availability.

• Marketing Strategies: Effective marketing strategies for brand promotion.

• Healthier Alternatives: Introducing healthier chocolate alternatives, such as dark chocolate and portion-controlled products in the chocolate market in the Asia Pacific, to cater to health-conscious consumers.

Asia Pacific Industry Segmentations

Asia Pacific Chocolate Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:

Market Breakup by Type

• Dark Chocolate

• Milk Chocolate

• White Chocolate

Market Breakup by Product Type

• Pure Chocolate

• Compound Chocolate

Market Breakup by Distribution Channel

• Supermarkets and Hypermarkets

• Convenience Stores

• Online

• Others

Market Breakup by Country

• China

• Japan

• India

• ASEAN

• Australia

• Others

Competitive Landscape

Market players are focused on product innovation, expansion strategies, and meeting the evolving consumer demands.

• Mars, Incorporated

• Mondelez International, Inc.

• Ferrero International S.A.

• Nestlé S.A.

• The Hershey Company

• Gujarat Co-operative Milk Marketing Federation Ltd.

• ITC Limited

• Barry Callebaut AG

• Grupo Arcor

• Chocoladefabriken Lindt & Sprüngli AG

• August Storck KG

• Meiji Holdings Co., Ltd.

• ROYCE' Confect co., Ltd.

• Yuraku Confectionery Co., Ltd.

• Others

Asia Pacific Chocolate Market Regional Analysis

As per the Asia Pacific chocolate market dynamics and trends, Japan and China have emerged as the prominent chocolate markets in the region owing to the growing usage of chocolates as luxury gifts among consumers. Its consumption is also driven by the rise of Western holidays and festivals in the countries which further boosts the market growth. Additionally, Malaysia is emerging as a fast-growing consumer of chocolates due to the expansion of the confectionary sector in the country.

Key Highlights of the Report

Asia Pacific Chocolate Market Report Snapshots

Asia Pacific Chocolate Market Size

Asia Pacific Chocolate Market Growth

Asia Pacific Chocolate Market Trends

Asia Pacific Chocolate Companies

Asia Pacific Chocolate Market Regional Analysis