Asia Pacific Chocolate Powdered Drinks Market

Asia Pacific Chocolate Powdered Drinks Market Size (2024 to 2029)

Asia Pacific Chocolate Powdered Drinks Market size is expected to be USD 7.14 billion in 2024  to reach USD 9.29 billion by 2029, registering a CAGR of 5.42% throughout the outlook period 2024 to 2029.

The chocolate powder can be mixed instantly with water or milk to prepare delicious chocolate drinks. Water-based powdered chocolate drinks are generally cold drinks that include carbonated drinks or energy drinks. While milk-based chocolate drinks include chocolate drinks, protein shakes, and cappuccino mixes.

The APAC chocolate powdered drinks market is primarily driven by emerging trends such as the healthy enjoyment of low-fat and sugar-free chocolates. Today, consumers are concerned about the origin of the ingredients used in chocolate for several reasons. The growing demand for ethically harvested cocoa and single plantation cocoa is driving the growth of the premium Asia Pacific Chocolate Powdered Drinks. The trend towards premiumization of chocolate confectionery products in developing economies such as China and India, together with the high demand for higher quality chocolates with attractive packaging, is contributing to the growth of the Asia Pacific Chocolate Powdered Drinks Market. The increasing impact of Western culture, increasing consumer disposable income and increasing population are the main factors driving the growth of powdered chocolate beverages in the area. Innovation in the field of powdered chocolate drinks with health benefits like DHA fortification, nuts, natural herbs, natural flavours, is driving the demand for Asia Pacific Chocolate Powdered Drinks Market.

Organic powdered chocolate drinks remain rare and niche, which may offer an opportunity for participants from various organic brands. The increasing popularity of these ingredients may adversely affect the Asia Pacific Chocolate Powdered Drinks Market due to the easy availability and cost effectiveness of the products. The good fat stability and improved fat composition profile of cocoa butter substitutes are driving their growth in the Asia Pacific market. According to the Global Shea Alliance, pastry chefs are increasingly replacing cocoa butter with CBE (Cocoa Butter Equivalents) derived from a blend of shea stearin and middle palm fraction due to reduced costs, better functionality and increased durability. Additionally, improving the taste and effective branding of powdered beverages by manufacturers is an important factor in supporting market growth. However, adulteration and poor quality of products are a limiting factor affecting the expansion of the local market.

IMPACT OF COVID-19 ON ASIA PACIFIC CHOCOLATE POWDERED DRINKS MARKET

The Asia Pacific Chocolate Powdered Drinks Market has experienced a sudden halt amid the outbreak of the Coronavirus pandemic due to the major shift in demand dynamics. The pandemic is expected to negatively affect sales in Asian countries for a period of time due to the unexpected lockdown. Chocolate confectionery and cocoa are not considered essential products and consumer demand for these products has declined in these countries in recent months. The novel coronavirus is expected to reduce demand for Asia Pacific Chocolate Powdered Drinks ingredients in several countries around the world, while disrupting the supply chain for a short period. Furthermore, the demand for high-end products is likely to gradually decrease in Asian countries due to the economic crisis.

This Research Report on Asia Pacific Chocolate Powdered Drinks Market is segmented and sub segmented into following categories

Asia Pacific Chocolate Powdered Drinks Market By Type  

• Dark Chocolate Drink
• Milk Chocolate Drink
• White Chocolate Drink

Based on the type, the chocolate powdered drinks market is segmented into dark chocolate drink, milk chocolate drink, and white chocolate drink. Based on the end-users, the market is segregated as energy drinks, dairy drinks, cappuccino mixes, protein shakes, and chocolate drinks.

Asia Pacific Chocolate Powdered Drinks Market By End Users  

• Energy Drinks
• Milk Beverages
• Cappuccino Mixes
• Protein Shakes
• Chocolate Drinks

Asia Pacific Chocolate Powdered Drinks Market By Distribution Channel

• Supermarkets
• Hypermarkets
• Convenience Stores
• Speciality Stores
• Online Stores

On the basis of the distribution channel, the market is separated into supermarkets/ hypermarkets, specialty stores, convenience stores, online and grocery stores. Within the distribution channels, the supermarkets/ hypermarkets segment contributed the dominant share in the local market. Increased availability of various products on e-commerce sites is supposed to boost the online segment in the coming days.

Asia Pacific Chocolate Powdered Drinks Market By Region

• China
• Taiwan
• South Korea
• India
• Japan
• Australia
• New Zealand

The Asia Pacific Chocolate Powdered Drinks market has been categorized based on geography into China, Taiwan, South Korea, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. The Asia-Pacific region shows significant growth potential in this market, due to the strengthening of the economic situation in countries such as India and China. In addition, the large population in these countries is a major factor in the demand for flavoured powders in Asia Pacific. An important factor in the growth in demand for flavoured powders in Asia Pacific is the increase in the workforce. The market in China is still in a development stage compared to other developed markets such as Japan and Australia. The rapidly growing middle class population, urbanization, and changing consumer tastes have contributed to the increased appetite for chocolate in the country. Growing consumer interest in organic products has opened several opportunities for major players in the Chinese market. With the rising call for organic labels, well-established brands in this business are focusing on strengthening their market in China by introducing a portfolio of organic chocolate products to their shelves. Nations like India are still in a nascent stage.

KEY PLAYERS IN ASIA PACIFIC CHOCOLATE POWDERED DRINKS MARKET

Key Players In Asia Pacific Chocolate Powdered Drinks Market Are Niche Cocoa Industry, Nestle S.A., BD Associates Ghana Ltd, ECOM Agroindustrial Corporation Ltd., Fuji Oil Company, Ltd., Barry Callebaut AG, Olam International, and Cargill.

RECENT HAPPENINGS IN THE MARKET

• Nestlé introduced its new Nesquik All Natural powder that includes natural ingredients and offered in a recyclable paper bag. Nesquik All Natural powder is supposed to be launched in in France, Italy, Germany, Portugal and Spain of Europe.
• Archer Daniels Midland Company announced the acquisition of World's Finest Chocolate's Cook range of cocoa powder, i.e., De Zaan® cocoa powders.
• Mondelez International, famous for its brands like Oreo and others is gradually expanding its product portfolio in the Indian market, which will soon cross billion-dollar revenues.
• Cargill India is expanding its presence in the country and has developed a plan to expand its portfolio, which includes aquafeeds and aquatic premixes, animal feed, plant for fuel transfer, and strengthening the edible oil brand, according to requirements of chocolate companies.
• Cargill is expanding its business by acquiring Smet, a Belgian manufacturer of chocolate and candy decorations. The deal will strengthen Cargill's food-focused business arm, which includes an already established inventory of cocoa and chocolate treats.
• In February 2019, Olam International has signed an agreement that includes the acquisition of BT Cocoa, Indonesia. The agreement will help Olam International capitalize on the Asian market to become a major global supplier of cocoa powder.
• In January 2019, Cargill, Incorporated announced a $ 200 million investment in Pakistan to build capacity that will help deliver services across the country.