The Asia Pacific Chocolate Confectionery Market would witness market growth of 7.4% CAGR during the forecast period (2022-2028).
Cacao beans are split up into nibs after being cleaned, sorted, roasted, and then powdered into a plastic liquor. After that, the liquor is squeezed to extract cocoa butter. The liquor, sugar (typically powdered), cocoa butter, and other flavorings and aromatic additions are combined to make chocolate. This mixture is then processed until the solid particles are no larger than 20 micrometers in size. The resulting mass is combined with cocoa butter once more and cooled to 30°–31°C before being molded into plain chocolate or chocolate-coated sweets using chocolate-molding equipment. Before being molded, the chocolate mass is exposed to extra processing at 70°C temperature for an average of three days and nights to produce dessert chocolate with increased flavor and aroma. Chocolate is made into blocks, figures, and round medallions, while chocolate confectioneries are made into bars or diverse candies. Natural chocolate can be kept for up to six months, whereas blended chocolate can be kept for up to three months. In the modern era, chocolates are also being used as a present, due to which, their consumption is significantly increasing.
There is a number of growth prospects for the chocolate confectionery market in this region. In recent years, the demand for chocolate confectioneries has increased in growing economies, such as China and India, owing to rising consumer spending on decadent confectionery products, particularly chocolate. The market is currently being propelled by knowledge of claimed health benefits of cocoa, including its polyphenol content and role in healthy aging, in industrialized countries like Japan and Australia. The demand for chocolate in Southeast Asia has gained the ability of local farmers to provide cocoa beans. The market for chocolate confectionery in the region has expanded at a considerable rate annually, owing to an increase in affluent middle-income consumers who consume more chocolates. For many years, Malaysia and Indonesia have been the top cocoa bean exporters in ASEAN.
Indonesia, a Southeast Asian country, is also focusing on increasing its cocoa production in order to hold a robust position in the chocolate confectionery market, producing piles of cocoa beans each year. The cocoa bean is also an important agricultural export product for Indonesia, and this industry has seen significant expansion in recent years. All these factors together would present several tremendous growth prospects for regional market players. This factor is augmenting the growth of the regional market.
The China market dominated the Asia Pacific Chocolate Confectionery Market by Country 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $21,606.4 million by 2028. The Japan market is experiencing a CAGR of 6.7% during (2022 - 2028). Additionally, The India market would exhibit a CAGR of 8.1% during (2022 - 2028).
Based on Type, the market is segmented into Milk, Dark, and White. Based on Distribution Channel, the market is segmented into Supermarkets & Hypermarkets, Convenience Stores, Online, and Others. Based on Product, the market is segmented into Molded Bars, Chips & Bites, Boxed, Truffles & Cups, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Chocolate Confectionery Market is Projected to reach USD 265.9 Billion by 2028, at a CAGR of 6.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Ferrero Group, The Hershey Company (Hershey Trust Company), Lindt & Sprungli AG, Mars, Inc., Mondelez International, Inc., Nestle S.A., The Barry Callebaut Group, Lotte Corporation, Lake Champlain Chocolates, and CÉMOI Group.
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