Asia Pacific Cocoa and Chocolate Market to Surpass 10.03 Billion by 2030 Drives Due to Growing Emphasis on Producing High-Quality Cocoa Beans
SkyQuest projects that the Asia Pacific cocoa and chocolate market will attain a value of USD 10.03 billion by 2030, with a CAGR of 6.03% over the forecast period (2023-2030). The industry manufacturers are employing a growing emphasis on producing high-quality cocoa beans using sustainable methods. This focus on sustainability is driving the demand for premium cocoa and chocolate products in the Asia Pacific cocoa and chocolate market. Furthermore, in response to consumer preferences, companies operating in the market actively manufacture and offer high-end products, including single-origin chocolates.
Westford, USA, Aug. 17, 2023 (GLOBE NEWSWIRE) -- According to SkyQuest, the industry is experiencing impressive growth in the Asia Pacific cocoa and chocolate market, driven by a strong and consistent upward trajectory. One of the key factors contributing to this expansion is the substantial increase in the original share of cocoa grindings. In addition, as more regions contribute to the production of cocoa-based ingredients, it has boosted the overall consumption of these components.
*Browse in-depth TOC on the "Asia Pacific Cocoa and Chocolate Market" *
· Pages - 157
· Tables - 69
· Figures – 75
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Chocolates are derived from the cocoa tree, scientifically known as Theobroma cacao. The first step in chocolate production involves the extraction of cocoa beans from the tree. These beans are then subjected to a series of processes, including roasting, fermentation, grinding, and transformation into a fine paste in the Asia Pacific cocoa and chocolate market. This paste serves as the foundation for manufacturing both chocolates and cocoa products.
*Prominent Players in Asia Pacific Cocoa and Chocolate Market*
· Barry Callebaut
· Blommer Chocolate Company
· Cargill, Inc.
· Ecom Agroindustrial Corp. Ltd.
· Ferrero Group
· Guittard Chocolate Company
· Hershey's
· Lindt & Sprüngli AG
· Mars, Inc.
· Mondelez International
· Nestlé S.A.
· Olam International Ltd.
· Petra Foods Limited
· Puratos Group
· Sun-Maid Growers of California
· The Kraft Heinz Company
· The Wilmar Group
· Touton S.A.
· United Cocoa Processor, Inc.
· Yıldız Holding A.Ş.
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*Food and Beverage Segment is Expected to Dominate the Market Due to Rising Applications in Bakeries*
The food and beverage segment dominated the Asia Pacific cocoa and chocolate market, capturing a significant market share. In this segment, chocolate is widely used in various applications, particularly in bakeries, for producing biscuits, cookies, and other baked goods. Additionally, chocolate is incorporated into ice creams and other dairy products, enhancing flavour profiles.
The markets in Japan is currently the leading contributor to the Asia Pacific cocoa and chocolate market, and this dominance is expected to persist in the years to come. The market dynamics in Japan are being shaped by two key factors: the increasing geriatric population and growing health consciousness among the populace. As the elderly population grows, there is a rising demand for healthier chocolate options.
*Dark Chocolate Segment is Expected to Grow the Market Due to* *Rising Consumer Demand for Dark Chocolates*
The forecast period anticipates significant growth in the dark chocolate segment of the Asia Pacific cocoa and chocolate market. This surge can be attributed to the region's rising consumer demand for dark chocolate. In additierdxon, as more consumers prefer dark chocolate, the demand for cocoa liquor, a key ingredient in dark chocolate production, is also increasing.
Regional markets in the Asia-Pacific is expected to experience consistent growth in the Asia Pacific cocoa and chocolate market during the forecast period. This growth can be attributed to several factors, including the rising consumption of chocolates in countries such as India and China.
A comprehensive analysis of the major players in the Asia Pacific cocoa and chocolate market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
*Key Developments in Asia Pacific Cocoa and Chocolate Market*
· Nestlé introduced a groundbreaking initiative in January 2023 with the launch of a for its iconic KitKat chocolate bars. This innovative concept involves trialling a new form of packaging for the popular 45g four-finger bars. The bars are now wrapped in cutting-edge paper packaging, marking a significant step towards Nestlé's sustainability goals.
· Recently, Lindt Vegan Classic was awarded the best vegan chocolate in the PETA vegan food awards. The award was based on several decisive factors, including clear vegan labelling, innovative product offerings, the expansion of the product range, and, most importantly, the taste of the chocolate.
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* Key Questions Answered in Asia Pacific Cocoa and Chocolate Market Report*
· What specific growth drivers are projected to impact the market during the forecast period?
· List the top companies in the market and explain how they have achieved their positions of influence.
· In what ways do regional trends and patterns differ within the market, and how these differences shape the market's future growth?
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