MarkNtel Advisors recently published a detailed industry analysis of the Philippines Chocolate Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.
Philippines Chocolate Market Size, Share, and Trends Analysis Report – Industry Overview and Forecast to 2030
The Philippines Chocolate Market size was valued at around USD 419.11 million in 2024 and is projected to reach USD 707.52 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 8.88% during the forecast period, i.e., 2025-30.
What are the major Driver the Philippines Chocolate industry?
Increasing Demand for Premium & Artisanal Chocolates – Here market growth is driven by changing consumer preference towards artisan and premium chocolates due to their intense flavors, unique textures, and healthier ingredients. Artisanal chocolates are famous as they are made from locally sourced cacao. In 2022, with the production of 8770 metric tons of cacao, the Philippines became the world’s 24th largest producer of cacao. There are several initiatives launched to support cacao farmers to reach the target of 100000 metric tons by 2025 by the Department of Agriculture. This shall open the door for locally operating businesses to go bean-to-bar and source single-origin chocolates. The demand for premium chocolates is further supported by the consumer preference for chocolate as a preferred gift during fiestas. Most Filipino consumer representatives preferred premium chocolates over mass-produced alternatives, thus signifying the importance of indulgence and sophistication in chocolatiers’ presentation. Such a shift offers growth prospects for both local and international brands.
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What segments define the Philippines Chocolate market from 2025 to 2030? How do these segments contribute to market dynamics and growth?
- By Product Type
- Dark Chocolate – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Milk Chocolate – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- White Chocolate – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Others – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
According to report, Milk chocolate is the dominating segment in the Philippines Chocolate Market, accounting for approximately half of the market share (50%) due to its widespread popularity among all demographics.
- By Form
- Chocolate Bars – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Liquid Chocolate – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Truffles Chocolate – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Others – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- By Distribution Channel
- Offline – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Retail – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Hypermarket/Supermarket – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Convenience Stores – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Online – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Offline – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- By Category
- Conventional – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Organic – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Lactose-Free – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Gluten-Free – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Zero Sugar- Market Size & Forecast 2020-2030, USD Million & Thousand Tons
- Others – Market Size & Forecast 2020-2030, USD Million & Thousand Tons
According to report, In the Philippines Chocolate Market, the conventional category is the leading segment holding around 75% of the entire market.
Explore the Complete Philippines Chocolate Market Analysis Report – https://www.marknteladvisors.com/research-library/philippines-chocolate-market.html
Geographical Analysis: Philippines Chocolate Market
- Luzon
- Visayas
- Mindanao
Philippines Chocolate Market Share & Competitive Landscape:
The Philippines Chocolate Market is characterized by intense competition, with several key players driving growth through innovation, market expansion, and strategic investments. The competitive landscape provides valuable insights into the industry’s leading companies, highlighting their strengths, financial performance, and market influence.
Leading Companies in the Philippines Chocolate Market are:
- Nestlé
- Hershey’s
- Cadbury Adams
- Mars
- Ginto
- Mondelez International Inc.
- JG Summit Holdings Inc.
- Comfoods
- Delfi
- Twin Oaks Foods Corporation
- Mayora Philippines
Philippines Chocolate Industry Recent Development:
- August 2024: Mars, known for brands like Snickers and M&Ms, agreed to acquire Kellanova, the maker of Pringles and Cheez-Its, for USD 36 billion. This strategic move is expected to enhance Mars’ snacking business and expand its product portfolio.
- 2024: The Department of Agriculture has launched programs to support cacao farmers, aiming to increase annual production to 100,000 metric tons by 2025.
Questions Addressed in this Study
- What factors are driving the Philippines Chocolate Market growth?
- How is the Philippines Chocolate Market expected to grow over the next five years?
- What are the key insights into the current trends in the Philippines Chocolate Market?
- What is the current size of the Philippines Chocolate Market, and how is it projected to change in the future?
6.What is the future outlook for the Philippines Chocolate Market in terms of technological advancements and market expansion?
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Why MarkNtel Advisors?
MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.
Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.
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