The Asia-Pacific premium chocolate market is expected to reach USD 14,465,909.05 thousand by 2030 from USD 10,256,726.87 thousand in 2022, growing at a CAGR of 4.6% during the forecast period of 2023 to 2030.
Market Segmentation:
By Type (Milk chocolate, Dark Chocolate, and White Chocolate), Product Type( Regular/Plain Chocolate and Filled Chocolate), Inclusion (With Inclusions Chocolates and Regular/No Inclusions Chocolates), Nature (Conventional and Organic), Category ( Standard Premium and Super Premium), Cocoa Content (50-60%, 71-80%, 61-70%, 81-90%, and 91-100%), Flavor (Flavor and Classic/Regular), Packaging (Plastic Wrap, Gift Boxes/Assorted, Pouches, Board Box, Sachets, and Others), Distribution Channel (Store Based Retailers and Non-store retailers), Countries (China, India, Japan, Indonesia, South Korea, Australia, Philippines, Thailand, Malaysia, Singapore and Rest of Asia-Pacific) - Industry Trends and Forecast to 2030
Overview of Asia-Pacific Premium Chocolate Market Dynamics:
Driver
Vegan chocolate helps in lowering blood pressure.
Restrain
The fluctuating price of raw materials
Opportunity
Continuous focus on developing new flavored and unique chocolates
Market Players:
Some of the key players operating in the Asia-Pacific premium chocolate market are:
Mars, Incorporated and its Affiliates
Mondelz International
THE HERSHEY COMPANY
Ferrero, Nestl
General Mills, Inc.
Meiji Holdings Co., Ltd.
Chocoladefabriken Lindt & Sprngli AG
Barry Callebaut
The Kraft Heinz Company
Cargill, Incorporated.
Cloetta AB,
ORION CORP.
Ghirardelli Chocolate Company (A Subsidiary of Lindt & Sprngli AG)
Ezaki Glico Co., Ltd.
MORINAGA & CO., LTD
Arcor
TABLE OF CONTENTS
1 INTRODUCTION 59
1.1 OBJECTIVES OF THE STUDY 59
1.2 MARKET DEFINITION 59
1.3 OVERVIEW OF THE ASIA PACIFIC PREMIUM CHOCOLATE MARKET 59
1.4 LIMITATIONS 61
1.5 MARKETS COVERED 61
2 MARKET SEGMENTATION 69
2.1 MARKETS COVERED 69
2.2 GEOGRAPHICAL SCOPE 70
2.3 YEARS CONSIDERED FOR THE STUDY 71
2.4 CURRENCY AND PRICING 71
2.5 DBMR TRIPOD DATA VALIDATION MODEL 72
2.6 GRADE LIFE LINE CURVE 75
2.7 MULTIVARIATE MODELING 76
2.8 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 77
2.9 DBMR MARKET POSITION GRID 79
2.10 MARKET APPLICATION COVERAGE GRID 80
2.11 DBMR MARKET CHALLENGE MATRIX 81
2.12 DBMR VENDOR SHARE ANALYSIS 82
2.13 SECONDARY SOURCES 83
2.14 ASSUMPTIONS 84
3 EXECUTIVE SUMMARY 85
4 PREMIUM INSIGHTS 88
4.1 ANALYSIS OF HAZELNUT CONTENT FOR TOP ASIA PACIFIC PREMIUM CHOCOLATE BRANDS 89
4.2 BRAND COMPARATIVE ANALYSIS 90
4.2.1 FERRERO 90
4.2.2 NESTLE 90
4.2.3 CHOCOLADEFABRIKEN LINDT & SPRNGLI AG 91
4.3 FACTORS INFLUENCING BUYING DECISION 92
4.3.1 PACKAGING FACTOR 92
4.3.2 TASTE 92
4.3.3 HEALTH 92
4.3.4 BRAND LOYALTY 92
4.3.5 GENDER AND AGE 92
4.3.6 INCOME 93
4.4 INDUSTRY TRENDS AND FUTURE PERSPECTIVE 94
4.4.1 RISING CONSUMER PREFERENCE TOWARD DARK AND VEGAN CHOCOLATE 94
4.4.2 CONSUMERS ARE INTERESTED IN NEW INNOVATIVE FLAVOURS AND TEXTURE 95
4.4.3 RISING DEMAND FOR PREMIUM CHOCOLATES FOR GIFTING PURPOSES 95
4.4.4 FUTURE PERSPECTIVE 95
4.5 MEETING CONSUMER REQUIREMENT 96
4.6 SUPPLY CHAIN ANALYSIS 97
4.6.1 RAW MATERIAL PROCUREMENT & MANUFACTURING 97
4.6.2 DISTRIBUTION 98
4.6.3 END-USERS 98
4.7 SHOPPING BEHAVIOR AND DYNAMICS 99
4.7.1 RECOMMENDATIONS FROM FAMILY AND FRIENDS 99
4.7.2 RESEARCH 99
4.7.3 IMPULSIVE 99
4.7.4 ADVERTISEMENT 99
4.7.5 TELEVISION ADVERTISEMENT 99
4.7.6 ONLINE ADVERTISEMENT 100
4.7.7 IN-STORE ADVERTISEMENT 100
4.7.8 OUTDOOR ADVERTISEMENT 100
4.8 NEW PRODUCT LAUNCH STRATEGY 101
4.8.1 NUMBER OF PRODUCT LAUNCHES 101
4.8.2 LINE EXTENSION 101
4.8.3 NEW PACKAGING 101
4.8.4 RE-LAUNCHED 101
4.8.5 NEW FORMULATION 101
4.8.6 DIFFERENTIAL PRODUCT OFFERING 102
4.8.7 PACKAGE DESIGNING 102
4.8.8 PRICING ANALYSIS 102
4.9 REGULATION COVERAGE 103
5 MARKET OVERVIEW 105
5.1 DRIVERS 107
5.1.1 RISE IN THE POPULARITY OF VEGAN, ORGANIC, AND GLUTEN FREE CHOCOLATES 107
5.1.2 HIGH DEMAND FOR PREMIUM CHOCOLATES IN FESTIVE SEASONS 107
5.1.3 DEMAND FOR PREMIUM CHOCOLATES OWING TO THE SHIFT TOWARDS A HEALTHY LIFESTYLE 108
5.1.4 USE OF PREMIUM CHOCOLATE IN THE BAKING INDUSTRY 109
5.2 RESTRAINTS 109
5.2.1 FLUCTUATING PRICES OF RAW MATERIALS 109
5.2.2 AVAILABILITY OF VARIOUS SUBSTITUTE 109
5.3 OPPORTUNITIES 110
5.3.1 CONTINUOUS FOCUS ON DEVELOPING NEW FLAVORED AND UNIQUE CHOCOLATES 110
5.3.2 RISING TREND OF ONLINE DISTRIBUTION 110
5.4 CHALLENGES 111
5.4.1 RISING COST OF SUPPLY CHAIN 111
5.4.2 RULES AND REGULATIONS ASSOCIATED WITH PREMIUM CHOCOLATES 112
6 ASIA PACIFIC PREMIUM CHOCOLATE MARKET, BY REGION 113
6.1 ASIA-PACIFIC 114
6.1.1 CHINA 129
6.1.2 INDIA 138
6.1.3 JAPAN 148
6.1.4 INDONESIA 157
6.1.5 SOUTH KOREA 167
6.1.6 AUSTRALIA 177
6.1.7 PHILIPPINES 187
6.1.8 THAILAND 197
6.1.9 MALAYSIA 207
6.1.10 SINGAPORE 217
6.1.11 REST OF ASIA-PACIFIC 227
7 ASIA PACIFIC PREMIUM CHOCOLATE MARKET: COMPANY LANDSCAPE 228
7.1 COMPANY SHARE ANALYSIS: ASIA PACIFIC 228
7.2 ACQUISITION 229
7.3 NEW PRODUCT DEVELOPMENT 230
7.4 FACILITY EXPANSION 231
7.5 NEW APPOINTMENT 231
8 SWOT ANALYSIS 232
9 COMPANY PROFILES 233
9.1 MARS, INCORPORATED AND ITS AFFILIATES 233
9.1.1 COMPANY SNAPSHOT 233
9.1.2 COMPANY SHARE ANALYSIS 233
9.1.3 PRODUCT PORTFOLIO 234
9.1.4 RECENT UPDATES 234
9.2 MONDELZ INTERNATIONAL 235
9.2.1 COMPANY SNAPSHOT 235
9.2.2 REVENUE ANALYSIS 235
9.2.3 COMPANY SHARE ANALYSIS 236
9.2.4 PRODUCT PORTFOLIO 236
9.2.5 RECENT DEVELOPMENT 237
9.3 THE HERSHEY COMPANY 238
9.3.1 COMPANY SNAPSHOT 238
9.3.2 REVENUE ANALYSIS 238
9.3.3 COMPANY SHARE ANALYSIS 239
9.3.4 PRODUCT PORTFOLIO 239
9.3.5 RECENT DEVELOPMENT 240
9.4 FERRERO 241
9.4.1 COMPANY SNAPSHOT 241
9.4.2 COMPANY SHARE ANALYSIS 241
9.4.3 PRODUCT PORTFOLIO 242
9.4.4 RECENT UPDATES 242
9.5 NESTL 243
9.5.1 COMPANY SNAPSHOT 243
9.5.2 REVENUE ANALYSIS 243
9.5.3 COMPANY SHARE ANALYSIS 244
9.5.4 PRODUCT PORTFOLIO 244
9.5.5 RECENT DEVELOPMENT 245
9.6 ARCOR 246
9.6.1 COMPANY SNAPSHOT 246
9.6.2 REVENUE ANALYSIS 246
9.6.3 PRODUCT PORTFOLIO 247
9.6.4 RECENT DEVELOPMENT 247
9.7 BARRY CALLEBAUT 248
9.7.1 COMPANY SNAPSHOT 248
9.7.2 REVENUE ANALYSIS 248
9.7.3 PRODUCT PORTFOLIO 249
9.7.4 RECENT UPDATES 249
9.8 CARGILL, INCORPORATED 250
9.8.1 COMPANY SNAPSHOT 250
9.8.2 PRODUCT PORTFOLIO 250
9.8.3 RECENT UPDATES 251
9.9 CHOCOLADEFABRIKEN LINDT & SPRNGLI AG (2022) 252
9.9.1 COMPANY SNAPSHOT 252
9.9.2 REVENUE ANALYSIS 252
9.9.3 PRODUCT PORTFOLIO 253
9.9.4 RECENT DEVELOPMENT 256
9.10 CLOETTA AB 257
9.10.1 COMPANY SNAPSHOT 257
9.10.2 REVENUE ANALYSIS 257
9.10.3 PRODUCT PORTFOLIO 258
9.10.4 RECENT DEVELOPMENT 258
9.11 EZAKI GLICO CO., LTD. 259
9.11.1 COMPANY SNAPSHOT 259
9.11.2 REVENUE ANALYSIS 259
9.11.3 PRODUCT PORTFOLIO 260
9.11.4 RECENT DEVELOPMENT 260
9.12 GENERAL MILLS, INC. 261
9.12.1 COMPANY SNAPSHOT 261
9.12.2 REVENUE ANALYSIS 261
9.12.3 PRODUCT PORTFOLIO 262
9.12.4 RECENT DEVELOPMENT 262
9.13 GHIRARDELLI CHOCOLATE COMPANY 263
9.13.1 COMPANY SNAPSHOT 263
9.13.2 PRODUCT PORTFOLIO 263
9.13.3 RECENT DEVELOPMENT 264
9.14 MEIJI HOLDINGS CO., LTD. 265
9.14.1 COMPANY SNAPSHOT 265
9.14.2 REVENUE ANALYSIS 265
9.14.3 PRODUCT PORTFOLIO 266
9.14.4 RECENT DEVELOPMENT 266
9.15 MORINAGA & CO., LTD. 267
9.15.1 COMPANY SNAPSHOT 267
9.15.2 REVENUE ANALYSIS 267
9.15.3 PRODUCT PORTFOLIO 268
9.15.4 RECENT DEVELOPMENT 268
9.16 ORION CORP. 269
9.16.1 COMPANY SNAPSHOT 269
9.16.2 REVENUE ANALYSIS 269
9.16.3 PRODUCT PORTFOLIO 270
9.16.4 RECENT DEVELOPMENTS 270
9.17 THE KRAFT HEINZ COMPANY 271
9.17.1 COMPANY SNAPSHOT 271
9.17.2 REVENUE ANALYSIS 271
9.17.3 PRODUCT PORTFOLIO 272
9.17.4 RECENT DEVELOPMENT 272
10 QUESTIONNAIRE 273
11 RELATED REPORTS 277