Market Forecast By Cocoa Types (Cocoa Butter, Cocoa Powder, Cocoa Liquor), By Chocolate Type (Dark Chocolate, Milk Chocolate, White Chocolate, Filled Chocolate), By Applications (Confectionery, Food & Beverage, Cosmetics, Pharmaceuticals), By Distribution Channel (Offline, Online ) And Competitive Landscape
Product Code: ETC018945 | Publication Date: Jun 2023 | Updated Date: Jan 2025 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
In 2023, the Thailand Chocolate And Cocoa Products Market experienced a significant surge in demand for premium and artisanal chocolates. Consumers are willing to pay more for high-quality chocolate products that offer unique flavors and textures.
One of the major developments in this market is the increased focus on sustainability and ethical sourcing. More companies are now working directly with farmers to ensure fair trade practices and reduce their environmental impact.
The rise of e-commerce has also impacted the market, as consumers can now easily purchase chocolates online from various retailers. This has opened up new opportunities for small businesses to reach a wider audience and grow their customer base.
Another trend is the use of local ingredients such as coconut milk, pandan leaves, and durian fruit in chocolate products. These unique flavor combinations appeal to both locals and tourists looking for an authentic taste experience.
Report Name | Thailand Chocolate and Cocoa Products Market |
Forecast period | 2025-2031 |
CAGR | 7% |
Growing Sector | Food & Beverage |
The Thailand Chocolate and Cocoa Products Market report thoroughly covers the market by Cocoa Type, Chocolate Type, Applications, and Distribution Channel. The market report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
The Thailand Chocolate and Cocoa Products Market has experienced significant growth in the past years and is projected to continue its growth in the coming years. This growth is driven by several factors such as the popularity of premium chocolates, rising income levels, government initiatives, and the strategic location of Thailand.
According to 6Wresearch, the Thailand Chocolate and Cocoa Products Market size is expected to grow at a significant CAGR of 7% during 2025-2031. One of the key drivers for this growth is the increasing popularity of premium and gourmet chocolates among Thailand consumers. The rising income levels have led to an increased willingness to spend on high-quality and niche products, which has opened up a niche market for luxury chocolates. Moreover, with the government actively promoting Thailand as a hub for food innovation and development, there has been a surge in investments towards modernizing production processes and improving product quality. Additionally, Thailand's strategic location and well-developed logistics infrastructure make it an ideal hub for the export of chocolate and cocoa products to other countries in Asia.
One of the major challenges is competition from other countries such as Indonesia, Vietnam, and Malaysia, which are also emerging as key players in the global chocolate market. Another challenge is the increasing health concerns surrounding the consumption of sugary and high-fat products like chocolate. Furthermore, fluctuations in raw material prices and limited domestic production of cocoa beans also pose a challenge for the industry.
Some of the major players operating in the Thailand chocolate and cocoa products market include Nestle (Thai) Ltd., Mondelez International, Mars Thailand Limited, Hershey's Company, Barry Callebaut AG, Ferrero Group, Lindt & Sprüngli AG, Meiji Co., Ltd., Lotte Confectionery Co., Ltd., and Yildiz Holding Inc. These companies have a strong presence in Thailand and are constantly striving to meet the growing demand for chocolate and cocoa products.
One of the major initiatives taken by the government is the establishment of the Thailand Cocoa Industry Club (TCIC) in collaboration with the private sector. This club aims to promote and develop sustainable cocoa production in the country by providing technical assistance, training, and research opportunities for farmers and producers. Additionally, the government has also introduced various tax incentives for local manufacturers to encourage them to invest in modern equipment and technology, which can improve their productivity and quality of products. Furthermore, the Thai government has been actively promoting the consumption of domestic chocolate products through campaigns and events such as Thailand Chocolate Day and Chocolate Festivals.
The Thailand Chocolate and Cocoa Products Market is expected to witness strong growth in the coming years, driven by increasing demand from the food and confectionery industry. The rise of e-commerce platforms has also made it easier for consumers to access a variety of chocolate and cocoa-based products, further contributing to market growth. Additionally, with the growing trend of ethical sourcing and sustainable production, there is a growing demand for organic and fair-trade chocolate and cocoa products in the country.
According to Ravi Bhandari, Research Head, 6Wresearch, the cocoa butter segment has been witnessing a steady increase due to its various applications in confectionery, cosmetics, and pharmaceutical industries.
In terms of chocolate type, dark chocolate holds the largest share of the market due to the increasing awareness about its health benefits and growing preference for premium chocolates
The food and beverage industry is witnessing a rise in demand for chocolate and cocoa products, especially in baked goods and beverages
The online channel is gaining traction due to its convenience and availability of a wide range of products. E-commerce platforms are becoming popular among consumers who prefer to purchase premium and speciality chocolate products.
The report provides a detailed analysis of the following market segments:
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 Thailand Chocolate and Cocoa Products Market Overview |
3.1 Thailand Country Macro Economic Indicators |
3.2 Thailand Chocolate and Cocoa Products Market Revenues & Volume, 2021 & 2031F |
3.3 Thailand Chocolate and Cocoa Products Market - Industry Life Cycle |
3.4 Thailand Chocolate and Cocoa Products Market - Porter's Five Forces |
3.5 Thailand Chocolate and Cocoa Products Market Revenues & Volume Share, By Cocoa Types, 2021 & 2031F |
3.6 Thailand Chocolate and Cocoa Products Market Revenues & Volume Share, By Chocolate Type, 2021 & 2031F |
3.7 Thailand Chocolate and Cocoa Products Market Revenues & Volume Share, By Applications, 2021 & 2031F |
3.8 Thailand Chocolate and Cocoa Products Market Revenues & Volume Share, By Distribution Channel, 2021 & 2031F |
4 Thailand Chocolate and Cocoa Products Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 Thailand Chocolate and Cocoa Products Market Trends |
6 Thailand Chocolate and Cocoa Products Market, By Types |
6.1 Thailand Chocolate and Cocoa Products Market, By Cocoa Types |
6.1.1 Overview and Analysis |
6.1.2 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Types, 2021 - 2031F |
6.1.3 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Butter, 2021 - 2031F |
6.1.4 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Powder, 2021 - 2031F |
6.1.5 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Cocoa Liquor, 2021 - 2031F |
6.2 Thailand Chocolate and Cocoa Products Market, By Chocolate Type |
6.2.1 Overview and Analysis |
6.2.2 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Dark Chocolate, 2021 - 2031F |
6.2.3 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Milk Chocolate, 2021 - 2031F |
6.2.4 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By White Chocolate, 2021 - 2031F |
6.2.5 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Filled Chocolate, 2021 - 2031F |
6.3 Thailand Chocolate and Cocoa Products Market, By Applications |
6.3.1 Overview and Analysis |
6.3.2 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Confectionery, 2021 - 2031F |
6.3.3 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Food & Beverage, 2021 - 2031F |
6.3.4 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Cosmetics, 2021 - 2031F |
6.3.5 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Pharmaceuticals, 2021 - 2031F |
6.4 Thailand Chocolate and Cocoa Products Market, By Distribution Channel |
6.4.1 Overview and Analysis |
6.4.2 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Offline , 2021 - 2031F |
6.4.3 Thailand Chocolate and Cocoa Products Market Revenues & Volume, By Online , 2021 - 2031F |
7 Thailand Chocolate and Cocoa Products Market Import-Export Trade Statistics |
7.1 Thailand Chocolate and Cocoa Products Market Export to Major Countries |
7.2 Thailand Chocolate and Cocoa Products Market Imports from Major Countries |
8 Thailand Chocolate and Cocoa Products Market Key Performance Indicators |
9 Thailand Chocolate and Cocoa Products Market - Opportunity Assessment |
9.1 Thailand Chocolate and Cocoa Products Market Opportunity Assessment, By Cocoa Types, 2021 & 2031F |
9.2 Thailand Chocolate and Cocoa Products Market Opportunity Assessment, By Chocolate Type, 2021 & 2031F |
9.3 Thailand Chocolate and Cocoa Products Market Opportunity Assessment, By Applications, 2021 & 2031F |
9.4 Thailand Chocolate and Cocoa Products Market Opportunity Assessment, By Distribution Channel, 2021 & 2031F |
10 Thailand Chocolate and Cocoa Products Market - Competitive Landscape |
10.1 Thailand Chocolate and Cocoa Products Market Revenue Share, By Companies, 2024 |
10.2 Thailand Chocolate and Cocoa Products Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |