The Asia Pacific Chocolate Market is estimated to be valued at USD 26.14 Bn in 2025 and is expected to reach USD 41.98 Bn in 2032, exhibiting a compound annual growth rate (CAGR) of 7.0% from 2025 to 2032.
The Asia Pacific Chocolate Market is witnessing significant growth. Its growth is driven by several factors, including the rise in disposable incomes and lifestyle changes. The population of Asia Pacific region indulge in various food choices, resulting in consumers to seek satisfying treats such as chocolate which offers a rich flavour and comforting experience that satisfies the cravings. Traditional milk and white chocolate remain the largest segment, while other segments like artificial and dark chocolate are growing rapidly. Convenience stores dominate the distribution channel segment.
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Retail Channel Transformation
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Growth in demand for premium products |
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The boxed chocolates segment includes filled, artisanal, and assorted flavors. It contains a premium variety of chocolates packaged carefully in designer boxes, apt for gifting as it symbolizes an act of love and appreciation, it is also a convenient gifting option. It is placed in the premium section and is comparatively more expensive. The trend of boxed chocolate is significantly growing is Asia pacific, credited to the rising popularity of luxury boxed chocolate and increasing disposable incomes. Countline chocolates are chocolate bars that are wrapped individually, often found at checkouts or convenience stores. They are designed for impulse buys and are priced accordingly, targeting middle-class consumers of middle-class. Countline chocolates are popular among the Asia Pacific population due to its factors such as convenience, affordability, and widespread availability.
Straightline chocolates are straight, uniform chocolate bars that have no filling within. Besides this, molded chocolate is shaped in various designs such as coins, animals, hearts, etc. Novelty chocolates are themed designs, like cartoon characters, it is popular during festivals. For instance, in March 2025, Nestle decided to launch KitKat tablets that are 99 gms and have no added preservatives and are completely suitable for vegetarian consumers, these are further propelling the Asia Pacific chocolate market growth.
Asia Pacific is both a major importer of cocoa and a growing exporter of value-added chocolate products. Countries like Indonesia and Papua New Guinea are key cocoa bean producers in the region. On the other hand, markets like China, Japan, and South Korea rely heavily on cocoa imports to meet domestic chocolate manufacturing demands.
Japan- In 2024, Japan's chocolate exports reached ¥16.5 billion, ranking as the 384th most exported product out of 1,177. The primary destinations for Japan's chocolate exports were Hong Kong (¥3.64 billion), the United States (¥3.39 billion), China (¥1.92 billion), Chinese Taipei (¥1.76 billion), and the Philippines (¥975 million).
India- In 2023, India exported $151 million worth of chocolate, making it the 35th largest chocolate exporter globally. During the same year, chocolate ranked as the 352nd most exported product out of 1,212 in India.
Singapore- From October 2023 to September 2024, Singapore exported 4,805 chocolate shipments, facilitated by 479 exporters and reaching 894 buyers. This represents a 47% growth compared to the previous twelve months. In September 2024 alone, Singapore made 487 chocolate export shipments, marking a 114% year-on-year increase from September 2023.
Japan dominated the Asia Pacific Chocolate market, accounting for around 26% of the revenue shares. Japan is a mature market with a preference for quality and innovation. The market is driven by a strong demand for novelty and seasonal chocolates, and a rise in demand for healthy options. It has a large consumer base from almost every group with a majority being middle-aged and older adults. For instance, in march 2025, Fuji Oil, based in Japan launched Anoza M, a new B2B product which does not contain cacao or cocoa butter. However, this product is developed as an alternative milk chocolate, using ingredients such as pea protein, carob (locust bean), and chocolate-use fats. This is thereby boosting the Asia Pacific chocolate market revenue.
The China segment of the Asia Pacific chocolate market is experiencing dynamic growth driven by the rise in demand for premium and imported dark chocolates and the increase in the gifting culture of the country. Urban millennials and Gen Z are significant consumers driving the sale of chocolate. Chinese people are not traditionally sweet-toothed but there are been an evolving dynamic in the last decade. Now, chocolates are gained a great deal of popularity in China, fueled by foreign brands and the evolving consumer tastes. Sone big brands available in China are Ferrero Rocher and Dove. Later comes the local brands such as LeConte, known for their unique flavour appealing to the Chinese tastes. For Instance, in July 2024, Louis Vuitton opened their world’s third chocolate ship in Shanghai, known by the name Le Chocolat Maxime Frédéric, further positively influencing the Asia Pacific chocolate market forecast.
The India segment of the Asia Pacific chocolate market is rapidly growing due to an increase in disposable income and Western influence. There is a surge in countline and molded chocolates, with the dark chocolate segment especially gaining traction in the country. The purchase of all kinds of chocolates during festivities is higher as compared to other regions. Mass market brands like Dairy Milk dominate, however, premium varieties are also gaining popularity in urban areas. For instance, in July 2024, Mars Wrigley Launches Galaxy Flute, its latest addition to India’s chocolate market, further adding to the Asia Pacific chocolate market share.
South Korea's chocolate market is witnessing steady growth with an increase in Western chocolates. There is a trend of online gifting and K-pop-themed packaging, which attracts a large number of youths in the country. The population of South Korea is more inclined towards the chocolates from Dubai due to the influence of social media platforms showcasing its opulence. The luxurious appearance of chocolate is attracting plenty of youth. Some of the famous Korean chocolates include Cacaodada, Nrcoffee, Public Chocolatory, and The Roasting masters. Also, in October 2024, Vinder Chocolate launched 'Dubai chocolate=style products in South Korea.
Asia Pacific Chocolate Market Report Coverage
| Report Coverage | Details | ||
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| Base Year: | 2024 | Market Size in 2025: | USD 26.14 Bn |
| Historical Data for: | 2020 To 2024 | Forecast Period: | 2025 To 2032 |
| Forecast Period 2025 to 2032 CAGR: | 7.0% | 2032 Value Projection: | USD 41.98 Bn |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
Ferrero S.p.A., MARS Inc., Mondelez International, Inc. (Kraft), The Hershey Company, Lotte Co., Ltd., Nestle SA |
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| Restraints & Challenges: |
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The presence of a large youth population in the Asia Pacific region is predominantly fueling the market growth of chocolates. According to the United Nations World Population, over 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 years. The increasing population in the region is also contributing to the market growth of cocoa industry over the forecast period.
The increasing trend of gifting chocolates during festivals and other occasions is expected to propel the market growth of chocolates. For instance, Ferrero's survey of 2,000 adults found that 56% prefer giving and receiving holiday chocolates over wine. Moreover, increasing consumption of chocolates for relaxing the mind and inducing happiness during mood swings is again contributing to the market growth of chocolates. All these factors are increasing the Asia Pacific chocolate market demand and are projected to remain high during the forecast period.
The high cost of the raw materials used in the production of chocolate increases the overall price of the chocolates. Harsh weather conditions are affecting the production of cocoa. This is expected to hamper the market growth of the chocolates. The poor economic scenario across the Asia Pacific region due to unstable rules and regulations affects the supply of cocoa to manufacturers. This factor negatively affects the market growth of the chocolates.
The growing consumption of dark chocolates due to growing awareness regarding the health benefits of dark chocolate is expected to provide potential market opportunities. Increasing application of chocolates in various food products as an ingredient is projected to provide profitable market opportunities over the forecast period.
Additionally, with growing health awareness, particularly among urban millennials and Gen Z consumers, there is a rising demand for low-sugar, sugar-free, vegan, and dark chocolate variants. Functional chocolates infused with ingredients like probiotics, nuts, and superfoods are gaining popularity. Markets such as Japan, India and Australia are leading in clean-label and organic chocolate adoption. This trend is encouraging manufacturers to innovate with natural sweeteners, plant-based ingredients, and portion-controlled packaging to meet evolving health-conscious preferences. For instance, in April 2022, the Whole Truth Foods (TWT), Clean Label brand based in India, launched a chocolate range sweetened solely with dates, without added sugar or artificial sweeteners, further supporting the chocolate market growth in Asia Pacific.
Definition: Chocolate is prepared with roasted and ground cacao seeds that are made in the form of paste, block, and liquid. Chocolate can be used as a flavoring agent in various food applications. It has numerous health benefits and has a unique and sweet taste. Its consumption reduces the risk of various diseases such as coronary heart disease and hypertension. Moreover, studies reveal that it has a high level of antioxidants.
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About Author
Sakshi Suryawanshi is a Research Consultant with 6 years of extensive experience in market research and consulting. She is proficient in market estimation, competitive analysis, and patent analysis. Sakshi excels in identifying market trends and evaluating competitive landscapes to provide actionable insights that drive strategic decision-making. Her expertise helps businesses navigate complex market dynamics and achieve their objectives effectively.
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