[PDF] What regulations impact Asia-Pacific
The latest updated report from Coherent Market Insights on Global Asia-Pacific Chocolate Market Growth Analysis 2021 by Key Segments and Forecast to 2027 provides users with excellent business intelligence for organizing different sizes. The objective of this report is to study the global Asia-Pacific Chocolate market at a macro level and the scope of the industry in the future.
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The chocolate market in Asia-Pacific is estimated at US $ 17,968.3 million in terms of value by the end of 2019.
The presence of a large youth population in the Asia-Pacific region is primarily fueling the growth of the chocolate market. According to the United Nations World Population Organization, more than 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. The growing population of the region also contributes to the growth of the chocolate market during the forecast period.
The increase in the per capita income of consumers in the Asia-Pacific region due to the overall economic growth is expected to promote the growth of the chocolate market. Increased disposable income of the consumer leading to an increase in the sale of premium chocolates, which again propels the growth of the market. Thus, the increase in the per capita income of the consumer is expected to have a positive impact on the chocolate market during the forecast period.
The high cost of raw materials used in the production of chocolate increases the overall price of chocolates. Harsh weather conditions affect cocoa production. This is expected to hamper the growth of the chocolate market.
A bad economic scenario in the Asia-Pacific region due to unstable rules and regulations is affecting the supply of cocoa from manufacturers. This factor negatively affects the growth of the chocolate market.
The growing consumption of dark chocolates due to the growing awareness of the health benefits of dark chocolate is expected to provide potential market opportunities. For example, in November 2019, Nestlé launched a 70% dark chocolate made entirely from the cocoa fruit. Chocolate contains beans and cocoa pulp as the only ingredients that provide natural sweetness and subtle acidity without added refined sugar.
Market trends / Key takeaways
The growing trend of offering chocolates at festivals and other occasions is expected to propel the growth of the chocolate market. Moreover, increasing the consumption of chocolates to relax the mind and induce happiness during mood swings is again helping in the growth of the chocolate market. All of these factors are increasing the demand for chocolates and are expected to remain high during the forecast period.
Chocolate market in Asia-Pacific – Impact of the coronavirus pandemic (Covid-19)
The coronavirus is expected to have a significant impact on the manufacturing sector as due to the pandemic situation the global sales of many products, including chocolate products, have been crippled. Due to the lockdown, all kinds of chocolate factories are closed. On the other hand, the major chocolate manufacturers in the world are turning to the online sales channel to provide convenient delivery to customers, thus increasing their sales.
Key players: Ferrero SpA, MARS Inc., Mondelez International, Inc., (Kraft), The Harshey Company, Lotte Co., Ltd, Nestlé SA
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Research objectives and hypotheses
Analysis of market dynamics, regulations and trends
Global Chocolate Market in Asia-Pacific – Impact of the Coronavirus Pandemic (Covid-19)
Global Asia-Pacific Chocolate Market, By Price Range, 2017-2027 (USD Million)
Global Chocolate Market in Asia-Pacific, by Operating System, 2017-2027 (USD Million)
Asia-Pacific Global Chocolate Market, by Region, 2017-2027 (USD Million)
Geographically, the detailed analysis of the consumption, revenue, market share and growth rate, historical and forecast (2016-2027) of the following regions is 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 share of the Asia-Pacific Chocolate market and why?
What strategies are the Asia-Pacific Chocolate market players putting in place to gain competitive advantage?
Why should the region dominate the global Asia-Pacific chocolate market?
What factors are negatively affecting the growth of the Asia-Pacific Chocolate Market?
How much will the global Asia-Pacific chocolate market be worth by the end of 2027?
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Coherent Market Insights follows a comprehensive research methodology aimed at providing the most accurate market analysis. The business relies on a data triangulation model that helps the business assess market dynamics and provide accurate estimates. Key components of the research methodologies followed for all of our market reports include:
Primary research (business surveys and interviews with experts)
Proprietary data analysis model
Consistent market information
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