Asia Pacific Cocoa And Chocolate Market Size, Share, Growth Analysis, By Ingredients(Dark Chocolate, Milk Chocolate, White Chocolate, Filled Chocolate), By Application(Food, Beverage, Cosmetics, Pharmaceuticals), By Region - Industry Forecast 2024-2031

Asia Pacific Cocoa And Chocolate Market size was valued at USD 6.08 billion in 2019 and is poised to grow from USD 6.46 billion in 2023 to USD 10.03 billion by 2031, growing at a CAGR of 6.03% in the forecast period (2024-2031).

Rise in awareness about health benefits of consuming cocoa and chocolate are the major drivers of market growth. Healthy consumption of sugar-free and low-fat chocolates is driving the market. As consumers are increasingly becoming conscious about their consumption, sourcing ethically harvested cocoa is becoming important. Research studies on benefits of consuming cocoa and chocolate for treating hypertension and coronary heart disease are also influencing majority of consumers to invest more into these products and their by-products.

Since 2010, the world has produced about 4 million tonnes of cocoa beans annually to manufacture chocolate, cosmetics, and a variety of foods. It is used as a flavor additive in various food products.

Asia Pacific is crucial for the global chocolate market because, according to UN statistics, Asia Pacific is home to nearly 60% of the world's youth. Thus, it is expected that the Asia Pacific chocolate market will continue to expand steadily over the coming years.

Asia Pacific Cocoa And Chocolate Market is poised to grow at a sustainable CAGR for the next forecast year.