Market Research Report
Asia-pacific Cocoa Market Forecast 2021-2028
|Asia-pacific Cocoa Market Forecast 2021-2028|
Published: September 14, 2021
Content info: 130 Pages
Delivery time: 2-3 business days
The Asia-Pacific cocoa market is estimated to register a CAGR of 4.18% during the forecast period, 2021-2028. The progressive innovation in cocoa products in the region influences market growth. Also, Asia is one of the top markets for chocolate producers, given the increasing affluence and shifting lifestyles.
Malaysia, India, Japan, China, Australia & New Zealand, Singapore, Indonesia, South Korea, and Rest of Asia-Pacific are analyzed for the Asia-Pacific cocoa market growth assessment. In Japan, chocolate is a standard sweet and very popular among people of all classes and professions. Also, the integration of aggressive product line development, consumer awareness, a well-established health-food labeling system, and a large consumer base of the health-conscious population favors the market growth in the country. In addition, there is an increasing demand for high cocoa products among the elderly population. Further, Japan has a vast chocolate confectionery product line encompassing functional chocolate products that contain chocolate cereal bars and flavonoids-rich dark chocolate. Moreover, the country has its own unique recipes made from cocoa products.
In countries like India, the market growth is due to growing disposable incomes, rising young population, and changing lifestyles. Also, it is one of the fastest-growing cocoa markets for segments like chocolate confectioneries. In addition, chocolates have also become a part of casual snacking instead of just special occasions. And the trend of gifting chocolate is on the rise. Moreover, there is an increasing inclination towards premium chocolates. Further, the rising market penetration of dark chocolates is accredited to their low sugar content and the availability of dark chocolate brands like Toblerone, Cadbury, Amul, Lindt, Hershey's, etc.
Meiji Holdings Co Ltd, Mondelez International Inc, Guan Chong Berhad, Barry Callebaut AG, The Hershey Company, etc., are among the leading players in the market.