Asia Pacific Cocoa and Chocolate Market Size, Share, Industry Growth, Trends, Business Opportunities, Challenges, Growth Insights to 2027
Asia Pacific Cocoa and Chocolate Market
size is expected to gain momentum by reaching USD 8,892.57 million by 2027.
This is attributable to the growing purchase capacity of the consumers that
propel the demand for exotic cocoa and chocolate products. Fortune Business
Insights, in its latest report, titled, “Asia Pacific Cocoa and Chocolate Market Size, Share & COVID-19 Impact Analysis, By Type
(Cocoa and Chocolate), Application (Food and Beverage, Cosmetics,
Pharmaceuticals, and Others), and Country Forecast, 2020-2027.”, mentions
that the market stood at USD 6,019.15 million in 2019 and is likely to exhibit
a CAGR of 5.42% between 2020 and 2027.
Price Fluctuations amid COVID-19 to
Hamper Growth Prospects
The global pandemic has resulted in a
complete shutdown of supply chains across several industries. The chocolate and
cocoa industry is further experiencing a remarkable reduction in the sales of
products. Owing to lockdown, the restricted movement of people has led to a
negative impact on the market. This is expected to hamper the market growth
shortly.
What does the Report Include?
The market report includes a detailed
assessment of various market drivers and restraints, opportunities, and
challenges that the market will face during the projected horizon.
Additionally, the report provides comprehensive research into the regional
developments of the market, affecting its growth during the forecast period. It
includes information sourced from the advice of expert professionals from the
industry by our research analysts using several research methodologies. The
competitive landscape offers further detailed insights into strategies such as
product launches, partnerships, merger and acquisition, and collaborations
adopted by the companies to maintain market strongholds between 2020 and
2027.
DRIVING FACTORS
Increasing Consumer Spending Power to
Augment Market Growth
According to the data by Forbes, there
are around 778 billionaires in Asia Pacific as of 2020. In addition to this,
about 38% of the global super-rich reside in the region, the most when compared
to other regions. The presence of high net-worth individuals (HNWI), along with
the increasing spending capacity of the consumers, is leading to the surging
demand for Asia Pacific cocoa and chocolate confectionery. In addition to this,
the growing consumption of chocolate products owing to its beneficial
properties is expected to contribute to the growth of the Asia Pacific cocoa
and chocolate market in the forthcoming years.
SEGMENTATION
Cocoa Segment Held 38.76% Market Share
in 2019
The cocoa segment, based on type, held
a market share of about 38.76% in 2019 and is projected to showcase an
exponential growth owing to the surging demand for dark chocolates that have
less sugar and fat content.
COUNTRY INSIGHTS
Increasing Demand for Exotic Chocolate
Flavors in Southeast Asia to Aid Growth
Among all the countries, Southeast Asia
is expected to remain at the forefront and hold the highest position in this
market in the forthcoming years. This is attributable to the increasing demand
for exotic flavors and filling of Asia Pacific cocoa and chocolate products.
Southeast Asia stood at USD 1,763.65 in 2019.
Japan, on the other hand, is expected
to hold the second position in the market during the forecast period. This is
ascribable to the growing consumption of chocolates owing to its beneficial
properties such as stress buster, anti-aging, and healthy content in the
country between 2020 and 2027.
COMPETITIVE LANDSCAPE
Key Players Focus on Product Expansion
by Acquiring Other Small Companies
The Asia Pacific cocoa and chocolate
market is consolidated by the presence of key players that are focusing on
acquiring other small companies to boost their cocoa & chocolate product
line. Additionally, the major companies are adopting strategies such as
partnership, the introduction of new products, and collaboration to maintain a
stronghold in the fiercely competitive global marketplace during the forecast
period.
Industry Development:
February 2019 – Olam International announced the
acquisition of the Indonesia-based, BT Cocoa. The acquisition is expected to
strengthen its position backed by the growing consumption of Asia Pacific cocoa
and chocolate products.
List of the Leading Companies Profiled
in the Global Asia Pacific Cocoa and Chocolate Market are:
- Nestle S.A. – (Vevey, Switzerland)
- Cargill, Incorporated – (Minnesota, U.S.)
- Olam International – (Singapore)
- Barry Callebaut AG – (ZĂĽrich, Switzerland)
- Fuji Oil Company, Ltd. – (Osaka, Japan)
- ECOM Agroindustrial Corporation Ltd. – (Pully, Switzerland)
- Touton S.A. – (Bordeaux, France)
- B D Associates Ghana Ltd – (Tema, Ghana)
- PLOT Enterprise Ghana Limited – (Takoradi, Ghana)
- Niche Cocoa Industry, Ltd. (Tema, Ghana)
- Indcre S.A. – (Barcelona, Spain)
Asia Pacific cocoa and chocolate
products are gaining popularity owing to the growing indulgence in exotic
flavors and fillings. In addition to this, the increasing consumption for
low-fat and sugar-free chocolates is propelling the manufacturers to produce
high-quality cocoa plantations in Asia Pacific.
Browse Detailed Summary of Research
Report with TOC:
https://www.fortunebusinessinsights.com/checkout-page/104205
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview on Global Cocoa Production
- Overview on Asia Pacific Cocoa Production
- Cocoa Trade Analysis and Import Tax System
- Recent Industry Developments
- Cocoa Price & Trade Analysis
- Asia Pacific Cocoa and Chocolate Market Analysis, Insights and
Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Type
- Cocoa Ingredients
- Cocoa Butter
- Cocoa Liquor
- Cocoa Powder
- Chocolate
- Dark
- White
- Milk
- Filled
TOC Continued…!
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