Published By : 27 Jan 2016 | Published By : QYRESEARCH
The rise in product innovations by producers and increase in disposable income across developing countries has attracted a wide range of customers and greatly driven the Asia Pacific chocolate market over the past several years. In addition, the growing youth population and recent expansion of the retail sector has also resulted in the increased demand for chocolates in the region.
Here are the top three countries in Asia Pacific that are contributing towards the chocolate market, and the ongoing trends in these countries.
Cadbury Enjoying Top Spot in New Zealand: Cadbury Confectionery Ltd. is the largest selling chocolate brand in New Zealand, with the company accounting for nearly half the market in 2014. While Cadbury mini eggs are the most popular choice of chocolate during the Easter season, they are available almost all the year round. The Cadbury Café opened its doors in New Zealand in 2014 and has turned out to be one of the most interesting and interactive experiences for customers, thanks to their one of a kind edible creations.
Foodies of Australia: An increasing number of Australians are calling themselves foodies and have been more receptive than ever towards gourmet food items. This has also translated to chocolates, with consumers demanding premium chocolate offerings off late. Twist wrapped miniature chocolates are now giving way to assorted boxed versions. Kraft Foods Ltd. and Cadbury Confectionery Ltd. are the largest players in the Australia chocolate market.
Hong Kong’s Sophisticated Taste: The stable income of the urban population in Hong Kong and the rising knowledge of the different types of chocolates have resulted in a rather sophisticated taste in chocolates of the average consumer. Chocolates are being viewed as a status symbol, which is apparent by the growing demand for products from Lindt & Sprungli, Godiva Chocolatier, and Ferrero Rocher.