[PDF] What Are The Regulations Impacting The Asia Pacific Chocolate Market?
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The Asia Pacific chocolate market is estimated to account for US$ 17,968.3 Mn in terms of value by the end of 2019.
The presence of a large youth population in the Asia Pacific region is predominantly fueling the market growth of the chocolates. According to the United Nations World Population, over 60% of the world’s youth live in Asia-Pacific. This translates into more than 750 million young women and men aged 15 to 24 years. The increasing population in the region is also contributing to the market growth of the chocolate over the forecast period.
Increasing per capita income of consumers in the Asia Pacific region due to overall economic growth is projected to foster the market growth of chocolate. Increasing disposable income of the consumer leading to an increase in the sale of the premium chocolates which is again propelling the market growth. Thus, the rise in per capita income of the consumer is expected to positively impact the market of the chocolates over the forecast period.
The high cost of the raw materials used in the production of chocolate increase the overall price of the chocolates. Harsh weather condition is affecting the production of cocoa. This is expected to hamper the market growth of the chocolates.
Poor economic scenario across the Asia Pacific region due to unstable rules and regulations affects the supply of cocoa to manufacturers. This factor negatively affects the market growth of the chocolates.
The growing consumption of dark chocolates due to growing awareness regarding the health benefits of dark chocolate is expected to provide potential market opportunities. For instance, in November 2019, Nestle has launched 70% dark chocolate made entirely from the cocoa fruit. The chocolate has cocoa beans and pulp as the only ingredients that deliver natural sweetness and subtle acidity without added refined sugar.
Market Trends/Key Takeaways
The increasing trend of gifting chocolates during festivals and other occasions is expected to propel the market growth of the chocolates. Moreover, increasing consumption of the chocolates for relaxing the mind and inducing happiness during mood swings is again contributing to the market growth of the chocolates. All these factors are increasing demand for chocolates and are projected to remain high during the forecast period.
Asia Pacific Chocolate Market - Impact of Coronavirus (Covid-19) Pandemic
Coronavirus is expected to have a significant impact the manufacturing sector as due to the pandemic situation the global sales of the many products including chocolate products have come down to a grinding halt. Due to the lockdown, all sorts of chocolate-manufacturing factories are closed. On the other hand, major manufacturers of chocolate globally are moving towards online sales channel to provide convenience delivery to the customers thereby, increasing their sales.
Key Players: Ferrero S.p.A, MARS Inc., Mondelez International, Inc., (Kraft), The Harshey Company, Lotte Co., Ltd, Nestle SA
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Table of Contents
Research Objectives and Assumptions
Market Dynamics, Regulations, and Trends Analysis
Global Asia Pacific Chocolate Market – Impact of Coronavirus (Covid-19) Pandemic
Global Asia Pacific Chocolate Market, By Price Range, 2017 - 2027 (US$ Million)
Global Asia Pacific Chocolate Market, By Operating System, 2017 - 2027 (US$ Million)
Global Asia Pacific Chocolate Market, By Region, 2017- 2027 (US$ Million)
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2016-2027) of the following regions are covered:
North America (Canada, Mexico)
Europe (UK, France, Italy)
Asia-Pacific (China, Japan)
South America (Brazil, Argentina)
Middle East and Africa
Key questions answered in this report:
Which players hold the significant Asia Pacific Chocolate market share and why?
What strategies are the Asia Pacific Chocolate market players forming to gain a competitive edge?
Why region is expected to lead the global Asia Pacific Chocolate market?
What factors are negatively affecting the Asia Pacific Chocolate market growth?
What will be the value of the global Asia Pacific Chocolate market by the end of 2027?
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Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:
Primary Research (Trade Surveys and Experts Interviews)
Proprietor Data Analytics Model
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