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Asia Pacific Chocolate Market Size

The Asia Pacific chocolate market is experiencing significant growth, with its market size expanding due to various retailing segments. The convenience store segment leads in volume, driven by consumer preferences for convenient shopping, while supermarkets and hypermarkets offer a wide range of chocolate products, contributing to the market's expansion. E-commerce is the fastest-growing retail segment, fueled by the increasing number of internet users. The premium and super-premium segments are also on the rise, as consumers seek exclusive and innovative chocolate products. Japan and China are major markets, with chocolate being considered a luxury item, particularly during festive seasons. Malaysia is noted for its rapid market growth, influenced by health-conscious consumer trends.

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Market Size of asia pacific chocolate Industry

Asia Pacific Chocolate Market Summary
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svg icon Study Period 2018 - 2030
svg icon Market Size (2024) USD 18.30 Billion
svg icon Market Size (2030) USD 24.48 Billion
svg icon Largest Share by Distribution Channel Convenience Store
svg icon CAGR (2024 - 2030) 4.97 %
svg icon Largest Share by Country Japan
svg icon Market Concentration Low

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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Asia Pacific Chocolate Market Analysis

The Asia Pacific Chocolate Market size is estimated at 18.30 billion USD in 2024, and is expected to reach 24.48 billion USD by 2030, growing at a CAGR of 4.97% during the forecast period (2024-2030).

18.30 Billion

Market Size in 2024 (USD)

24.48 Billion

Market Size in 2030 (USD)

3.05 %

CAGR (2018-2023)

4.97 %

CAGR (2024-2030)

Largest Segment by Confectionery Variant

63.92 %

value share, Milk and White Chocolate, 2023

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The innovative flavor offerings possible in White chocolate, followed by the preference for varied taste profiles in the region, are anticipated to drive segmental growth.

Largest Segment by Distribution Channel

37.57 %

value share, Convenience Store, 2023

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Rapid development in the sector with respect to the growing number of convenience stores across the region with an increased product base is making it the largest segment.

Fastest-growing Segment by Confectionery variant

5.24 %

Projected CAGR, Dark Chocolate, 2024-2030

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The increasing demand for low-fat and sugar-free chocolates, catalyzed by growing health consciousness among individuals, is anticipated to drive demand for Dark Chocolate.

Fastest-growing Segment by Distribution Channel

5.20 %

Projected CAGR, Convenience Store, 2024-2030

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With more market consolidations, partnerships, and, most noticeably, domestic players are investing more in convenience stores, it is one of the fastest-growing segments.

Leading Market Player

13.19 %

market share, Mondelēz International Inc., 2022

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The active market activities, like product innovations and strategic moves by Mondelēz, along with the unique portfolio, are enabling the company to grow ales in the market.

Growing inclination toward convenience shopping inclined the segmental value with supermarket/ hypermarkets and convenience stores holding 70% share in 2023

  • In the Asia-Pacific region, the overall retailing segment maintained a growth of 4.59% by volume in 2023 as compared to 2022. The growth is anticipated with the consumers' growing inclination for convenience shopping facilities. Under the overall retailing segment, the convenience store segment was considered the largest retailing unit by volume in 2023. Some of the famous stores in China are Easy Joy, uSmile, MYJ, and others. By 2025, the convenience store segment in Asia-Pacific is estimated to register a growth of 4.48% by volume.
  • Supermarkets and hypermarkets are the second-largest retailers in the Asia-Pacific chocolate market. These stores tend to offer their customers a wide range of chocolate products with innovative offers. It is reported that the sales volume of chocolate products in supermarkets and hypermarkets grew by 4.22% in 2022 compared to 2021. A CAGR of 19.7% is anticipated to be registered in Asia-Pacific during 2023-2029. Chocolate holds the largest share of 58.8% among all the confectionery products sold through supermarkets and hypermarkets in 2023, anticipated with growing demand for premiumization.
  • Online retailing or e-commerce retailing is considered the fastest-growing retailing segment in Asia-Pacific. The e-commerce business was holding a CAGR of 5.92% in 2023. The growing number of internet users across the region is the major factor influencing the acceleration of the growth of e-commerce websites.
  • During the forecast period, it is estimated that these retailing units in Asia-Pacific will mark growth of 8.21% by volume share. The rising availability of ethenic flavors for confectionery products and demand for discount offers will likely drive the retail industry.
Asia Pacific Chocolate Market

Japan and India drove the chocolate consumption in the region with the share of almost 50% by value with increasing focus on innovative premium chocolates

  • Over the review period, the premium and super-premium segments of the market have been growing due to trends such as transparent sourcing and the incorporation of rare ingredients that offer a sense of exclusivity. Additionally, the growth of this segment of the market is being driven by the growing number of chocolate producers that have been focused on innovating unique premium chocolate products, coupled with increased consumer desire to try new products. By value, the Asia-Pacific chocolate market observed a growth of 4.16% in 2022 as compared to 2021.
  • Japan and China are identified as the major markets in the region, followed by India and Australia. Japan and China collectively accounted for 52.02% of the chocolate value sales in 2022. Consumers across these countries consider chocolate an exotic delicacy, which is also brought as a luxury gift during the Lunar New Year as a luxurious treat. Thus, the consumption of chocolate has increased. China imported approximately USD 673.3 million worth of chocolate confectionery in 2021, while it was USD 485.77 million in 2020.
  • Malaysia is identified as the fastest-growing chocolate market in Asia-Pacific. The market is anticipated to grow at a rate of 8.53% from 2024-2030 in terms of value. The country has a traditional approach toward the consumption of confectionery, where the recipes combine ingredients such as honey, sugar, almonds, walnuts, or crystallized fruits. Chocolates that appeal to health-oriented consumers, such as sugar-free or gluten-free chocolates, are becoming popular across the country due to the consistently increasing diabetic population. In 2021, diabetes prevalence in the country reached 19.2% (% of the population ages 20 to 79) in Malaysia.

Asia Pacific Chocolate Industry Segmentation

Dark Chocolate, Milk and White Chocolate are covered as segments by Confectionery Variant. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel. Australia, China, India, Indonesia, Japan, Malaysia, New Zealand, South Korea are covered as segments by Country.

  • In the Asia-Pacific region, the overall retailing segment maintained a growth of 4.59% by volume in 2023 as compared to 2022. The growth is anticipated with the consumers' growing inclination for convenience shopping facilities. Under the overall retailing segment, the convenience store segment was considered the largest retailing unit by volume in 2023. Some of the famous stores in China are Easy Joy, uSmile, MYJ, and others. By 2025, the convenience store segment in Asia-Pacific is estimated to register a growth of 4.48% by volume.
  • Supermarkets and hypermarkets are the second-largest retailers in the Asia-Pacific chocolate market. These stores tend to offer their customers a wide range of chocolate products with innovative offers. It is reported that the sales volume of chocolate products in supermarkets and hypermarkets grew by 4.22% in 2022 compared to 2021. A CAGR of 19.7% is anticipated to be registered in Asia-Pacific during 2023-2029. Chocolate holds the largest share of 58.8% among all the confectionery products sold through supermarkets and hypermarkets in 2023, anticipated with growing demand for premiumization.
  • Online retailing or e-commerce retailing is considered the fastest-growing retailing segment in Asia-Pacific. The e-commerce business was holding a CAGR of 5.92% in 2023. The growing number of internet users across the region is the major factor influencing the acceleration of the growth of e-commerce websites.
  • During the forecast period, it is estimated that these retailing units in Asia-Pacific will mark growth of 8.21% by volume share. The rising availability of ethenic flavors for confectionery products and demand for discount offers will likely drive the retail industry.
Confectionery Variant
Dark Chocolate
Milk and White Chocolate
Distribution Channel
Convenience Store
Online Retail Store
Supermarket/Hypermarket
Others
Country
Australia
China
India
Indonesia
Japan
Malaysia
New Zealand
South Korea
Rest of Asia-Pacific
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Asia Pacific Chocolate Market Size Summary

The Asia Pacific chocolate market is experiencing a robust expansion, driven by evolving consumer preferences and retail innovations. The region's retail landscape is characterized by a significant shift towards convenience shopping, with convenience stores emerging as the largest retail segment by volume. Supermarkets and hypermarkets also play a crucial role, offering a diverse range of chocolate products and capitalizing on the growing demand for premium offerings. Online retailing is the fastest-growing segment, fueled by the increasing number of internet users and the rising popularity of e-commerce platforms. The market is witnessing a surge in demand for premium and super-premium chocolate segments, driven by trends such as transparent sourcing and the incorporation of unique ingredients. This growth is further supported by the increasing number of chocolate producers focusing on innovative premium products, catering to consumers' desires for exclusivity and new experiences.

Japan and China are the leading markets within the region, with significant contributions from India and Australia. Chocolate is perceived as a luxury item in these countries, often gifted during festive occasions like the Lunar New Year. Malaysia stands out as the fastest-growing market, with a rising interest in health-oriented chocolate products due to the increasing diabetic population. The market is also seeing a shift towards healthier alternatives, with consumers showing a willingness to pay a premium for healthier chocolate options. The fragmented nature of the market is evident, with major players like Lindt & Sprüngli, Ferrero, Mars, Mondelēz, and Nestlé holding significant shares. Recent strategic moves by companies, such as acquisitions and product launches, highlight the dynamic nature of the market, aiming to expand consumer bases and introduce unique flavored products.

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Asia Pacific Chocolate Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Confectionery Variant

      1. 1.1.1 Dark Chocolate

      2. 1.1.2 Milk and White Chocolate

    2. 1.2 Distribution Channel

      1. 1.2.1 Convenience Store

      2. 1.2.2 Online Retail Store

      3. 1.2.3 Supermarket/Hypermarket

      4. 1.2.4 Others

    3. 1.3 Country

      1. 1.3.1 Australia

      2. 1.3.2 China

      3. 1.3.3 India

      4. 1.3.4 Indonesia

      5. 1.3.5 Japan

      6. 1.3.6 Malaysia

      7. 1.3.7 New Zealand

      8. 1.3.8 South Korea

      9. 1.3.9 Rest of Asia-Pacific

Asia Pacific Chocolate Market Size FAQs

The Asia Pacific Chocolate Market size is expected to reach USD 18.30 billion in 2024 and grow at a CAGR of 4.97% to reach USD 24.48 billion by 2030.

In 2024, the Asia Pacific Chocolate Market size is expected to reach USD 18.30 billion.

Asia Pacific Chocolate Market Report Snapshots

Asia Pacific Chocolate Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030