Asia-Pacific sugar confectionery market is estimated to grow at a CAGR of 4.3% during the forecast period. With the increasing per capita income, the consumption of premium chocolate has been growing significantly in the region. An increasing number of global chocolate makers are tapping into the Chinese and Indian markets. Owing to the rapid upgrade in chocolate consumption, the demand for premium chocolates has been witnessed a potential rise in the region. Mars, Hershey, and Nestle are some players that offer premium chocolate brands in the region. In November 2018, Nestle India entered the super-premium chocolate segment with the launch of its new Les Recettes De L’Atelier range of chocolate tablets.
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It is a premium collection of hand-crafted artisanal chocolates in India. These premium chocolates are available in four variants across stores in major cities and select e-commerce players. The range comprises Dark Cranberry Almonds, Milk Chocolate Raisins Almond Hazelnuts, Dark Raisins Almonds Hazelnuts, and Dark Roasted Almonds. There is an emerging demand for niche and handmade chocolates in the country, which in turn, has led to the launch of these new handmade premium chocolates in India.
Scope of the Asia-Pacific Sugar Confectionery Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product and Distribution Channel
- Countries Covered- China, India, Japan, and Rest of Asia-Pacific
- Competitive Landscape- Mondel?z International, Inc., Ferrero International S.A., Nestlé S.A., ITC Ltd., and Meiji Holdings Co., Ltd.
Recent Developments in the Asia-Pacific Sugar Confectionery Market
- In January 2020, Hershey India Pvt Ltd. declared the launch of its chocolate bars under its flagship Hershey’s brand. With the introduction of the bars, the company enters the chocolate market led by Mondelez. With the launch of chocolate bars, the company is looking to widen its outlet reach by 3 times that will enable the firm to be available in upscale general trade stores, modern trade, and e-commerce platforms. With the widened portfolio, Hershey will go deeper into the major 70 cities in urban India. The Hershey’s Bars are available in three variants, including Cookies ‘n’ Crème, the classic Creamy Milk, and the Whole Almonds variant.
- In October 2019, ITC launched the world’s most expensive chocolate which costs nearly $6,080 per kilogram under its Fabelle brand. The company’s luxury chocolate brand Fabelle Exquisite Chocolates launched its limited-edition range chocolate ‘Trinity-Truffles Extraordinaire’, which entered into Guinness World Records to become the world’s most expensive chocolate.
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Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected country/segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Asia-Pacific Sugar Confectionery Market-Segmentation
By Product
Chocolate
- White and Milk
- Dark
Sugar Based Food
- Boiled Sweets
- Caramels and Toffees
- Mints
- Gums and Jellies
- Others
Snack Bars
- Energy Bars
- Cereal Bars
- Others
By Distribution Channel
- Online
- Offline
Ø Supermarket/Hypermarket
Ø Convenience Stores
Ø Others
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
