Asia Pacific Cocoa and Chocolate Market Size, Growth, Price Analysis, Share to 2027 | Global Research Report by Fortune Business Insights™
Asia Pacific Cocoa and Chocolate Marketsize 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 thatpropel the demand for exotic cocoa and chocolate products. Fortune BusinessInsights, 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.”, mentionsthat the market stood at USD 6,019.15 million in 2019 and is likely to exhibita CAGR of 5.42% between 2020 and 2027.
Price Fluctuations amid COVID-19 toHamper Growth Prospects
The global pandemic has resulted in acomplete shutdown of supply chains across several industries. The chocolate andcocoa industry is further experiencing a remarkable reduction in the sales ofproducts. Owing to lockdown, the restricted movement of people has led to anegative impact on the market. This is expected to hamper the market growthshortly.
What does the Report Include?
The market report includes a detailedassessment of various market drivers and restraints, opportunities, andchallenges that the market will face during the projected horizon.Additionally, the report provides comprehensive research into the regionaldevelopments of the market, affecting its growth during the forecast period. Itincludes information sourced from the advice of expert professionals from theindustry by our research analysts using several research methodologies. Thecompetitive landscape offers further detailed insights into strategies such asproduct launches, partnerships, merger and acquisition, and collaborationsadopted by the companies to maintain market strongholds between 2020 and2027.
DRIVING FACTORS
Increasing Consumer Spending Power toAugment Market Growth
According to the data by Forbes, thereare 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 comparedto other regions. The presence of high net-worth individuals (HNWI), along withthe increasing spending capacity of the consumers, is leading to the surgingdemand for Asia Pacific cocoa and chocolate confectionery. In addition to this,the growing consumption of chocolate products owing to its beneficialproperties is expected to contribute to the growth of the Asia Pacific cocoaand chocolate market in the forthcoming years.
SEGMENTATION
Cocoa Segment Held 38.76% Market Sharein 2019
The cocoa segment, based on type, helda market share of about 38.76% in 2019 and is projected to showcase anexponential growth owing to the surging demand for dark chocolates that haveless sugar and fat content.
COUNTRY INSIGHTS
Increasing Demand for Exotic ChocolateFlavors in Southeast Asia to Aid Growth
Among all the countries, Southeast Asiais expected to remain at the forefront and hold the highest position in thismarket in the forthcoming years. This is attributable to the increasing demandfor 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 expectedto hold the second position in the market during the forecast period. This isascribable to the growing consumption of chocolates owing to its beneficialproperties such as stress buster, anti-aging, and healthy content in thecountry between 2020 and 2027.
COMPETITIVE LANDSCAPE
Key Players Focus on Product Expansionby Acquiring Other Small Companies
The Asia Pacific cocoa and chocolatemarket is consolidated by the presence of key players that are focusing onacquiring other small companies to boost their cocoa & chocolate productline. Additionally, the major companies are adopting strategies such aspartnership, the introduction of new products, and collaboration to maintain astronghold in the fiercely competitive global marketplace during the forecastperiod.
Industry Development:
February 2019 – Olam International announced theacquisition of the Indonesia-based, BT Cocoa. The acquisition is expected tostrengthen its position backed by the growing consumption of Asia Pacific cocoaand chocolate products.
List of the Leading Companies Profiledin 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 – (Zürich, 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 chocolateproducts are gaining popularity owing to the growing indulgence in exoticflavors and fillings. In addition to this, the increasing consumption forlow-fat and sugar-free chocolates is propelling the manufacturers to producehigh-quality cocoa plantations in Asia Pacific.
Browse Detailed Summary of ResearchReport 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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