Press release
Philippines Chocolate Market Projected to Surpass USD 707.52 Million by 2030, Fueled by Consumer Demand for Premium Options
"Philippines Chocolate Market Forecast"
• The market is set to grow from USD 419.11 million in 2024 to USD 707.52 million by 2030.
• It will witness a CAGR of approximately 8.88% from 2025 to 2030.
• The demand for premium and artisanal chocolates will significantly drive market expansion.
• Innovations in health-conscious chocolate options will cater to a growing consumer base interested in healthier snacks.
• Increased spending on confectionery is expected, with chocolates accounting for 38% of total confectionery sales.
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"Philippines Chocolate Industry Competitive Landscape"
The Philippines chocolate market is characterized by a competitive landscape with both local and international players. Key companies include:
• Nestlé
• Hershey's
• Cadbury Adams
• Mars
• Ginto
• Mondelez International Inc.
• JG Summit Holdings Inc.
• Comfoods
• Delfi
• Twin Oaks Foods Corporation
• Mayora Philippines
• Others
These companies continuously innovate and adapt to changing consumer preferences, positioning themselves favorably within the growing market.
"Key Takeaways from the Philippines Chocolate Market Report"
• The Philippines chocolate market is experiencing a shift toward premium and artisanal products driven by changing consumer tastes.
• E-commerce growth is facilitating broader access to a diverse selection of chocolates.
• Health-focused chocolate options are rapidly gaining popularity among health-conscious consumers.
• Local ingredients such as Ube and Calamansi are becoming increasingly popular in chocolate flavor innovation.
• The market faces challenges from raw cacao price volatility due to global supply chain disruptions.
"Industry Recent Development"
• In August 2024, Mars, known for iconic brands such as Snickers and M&M's, announced its acquisition of Kellanova, the maker of Pringles and Cheez-Its, for USD 36 billion. This strategic move is aimed at enhancing their snacking portfolio and expanding their product lineup, reflecting the company's commitment to growth within the confectionery sector.
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"Philippines Chocolate Market Segmentation"
The Philippines chocolate market can be segmented based on product type, category, distribution channels, and regions.
By Product Type
> Dark Chocolate
> Milk Chocolate
> White Chocolate
> Others
By Form
> Chocolate Bars
> Liquid Chocolate
> Truffles Chocolate
> Others
By Distribution Channel
> Offline
>> Retail
>> Hypermarket/Supermarket
>> Convenience Stores
> Online
By Category
> Conventional
> Organic
> Lactose-Free
> Gluten-Free
> Zero Sugar
> Others
By Region
> Luzon
> Visayas
> Mindanao
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"Frequently Asked Questions (FAQs)"
• What is the expected growth rate of the Philippines chocolate market from 2025 to 2030?
• How large is the Philippines chocolate market projected to be by 2030?
• Which factors are driving the demand for chocolates in the Philippines?
• What segment holds the largest share in the Philippines chocolate market?
• What challenges does the Philippines chocolate market face in terms of raw material supply?
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"Other Report:"
• Global Broccoli Powder Market size was valued at around USD 52.8 million in 2024 and is projected to reach USD 72 million by 2030. [View Full Report - https://www.marknteladvisors.com/research-library/broccoli-powder-market.html ]
• India Sauces, Dressings & Condiments Market size was valued at around USD 4.73 billion in 2024 and is projected to reach USD 8.14 billion by 2030. [View Full Report - https://www.marknteladvisors.com/research-library/india-sauces-dressings-condiments-market.html ]
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