Thailand Chocolate Market Projected to Expand at 5.3% CAGR Through 2030
The Thailand Chocolate Market size was valued at around USD 257 million in 2024 and is projected to reach USD 332 million by 2030. Along with this, the market is estimated to grow at a CAGR of around 5.3% during the forecast period, i.e., 2025-30. The primary factors driving this market growth include a shift in consumption preferences towards premium and sustainable chocolate products, the inclusion of chocolates in snacks and bars, increase in demand for chocolates by hotels, restaurants, and confectionaries due to the rise in tourism in the country, and health benefits of dark chocolate on heart and mental health of individuals.
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Strategic Takeaways from the Report:
- Market Sizing and Forecasting
- Regulatory and Policy Influence
- Competitive Trends and M&A Activity
- Innovation Drivers and Disruptive Technologies
- Investment Hotspots and Emerging Niches
- Geographical Dynamics and Trade Flows
Thailand Chocolate Market Segment Overview & Classification
This market is categorized to offer targeted insights across various operational and consumer-related verticals.
Segment List:
By Chocolate Type
- White Chocolate - Market Size & Forecast 2020-2030, USD Million
- Dark Chocolate - Market Size & Forecast 2020-2030, USD Million
By Application
- Food & Beverages Industries - Market Size & Forecast 2020-2030, USD Million
- Bakery- Market Size & Forecast 2020-2030, USD Million
- HoReCa - Market Size & Forecast 2020-2030, USD Million
- Retail Consumption - Market Size & Forecast 2020-2030, USD Million
Among these, the Retail Consumption holds more than 50% of the market share and is expected to grow at a significant rate during the forecast period. With the growth of the Gen Z population, introduction of diverse flavors and ingredients, growth in the variety of package sizes, innovative packaging, etc., have translated into a major share of retail consumers in the Thai chocolate market.
By Origin
- Synthetic Chocolates - Market Size & Forecast 2020-2030, USD Million
- Organic Chocolates - Market Size & Forecast 2020-2030, USD Million
By Category
- Boxed Chocolates - Market Size & Forecast 2020-2030, USD Million
- Chocolate Pouches and Bags - Market Size & Forecast 2020-2030, USD Million
- Countlines Chocolates - Market Size & Forecast 2020-2030, USD Million
- Seasonal Chocolates - Market Size & Forecast 2020-2030, USD Million
- Tablets- Market Size & Forecast 2020-2030, USD Million
- Plain Dark - Market Size & Forecast 2020-2030, USD Million
- Filled - Market Size & Forecast 2020-2030, USD Million
- Plain Milk - Market Size & Forecast 2020-2030, USD Million
- Plain White - Market Size & Forecast 2020-2030, USD Million
By Packaging Type
- Flexible Packaging - Market Size & Forecast 2020-2030, USD Million
- Rigid Packaging - Market Size & Forecast 2020-2030, USD Million
By Sales Channel
- Supermarkets & Hypermarkets - Market Size & Forecast 2020-2030, USD Million
- Convenience Stores - Market Size & Forecast 2020-2030, USD Million
- Brand Owned Outlets - Market Size & Forecast 2020-2030, USD Million
- Online - Market Size & Forecast 2020-2030, USD Million.
Among these, the supermarkets & hypermarkets segment holds a share of around 60% of the market and is expected to hold its position during the forecast period as well. Chocolate and other products made from chocolate, like snacks, bars, smoothies, cakes, etc., are available at lower prices in these markets with options of displaying a wide variety of flavors for consumers to select as per their preferences. This growth is fueled by the rise in disposable income, urbanization, and competitive pricing, and all these advantages facilitate a high market share held by Super and Hypermarkets. For instance, Thai Chocolates are sold in supermarkets like Tops Supermarket, Big C, Family Mart, 7-Eleven, etc.
These divisions help clarify demand patterns and expected shifts.
Market Opportunities
High Demand for Chocolates During Festive Season – The events and festivals such as Songkran, King Rama IX's birthday anniversary, Chinese New Year, Valentine’s Day, and New Year's Eve in the country, create the opportunity for chocolate manufacturers to increase their sales, as chocolates are the most widely used gift item in the country.
For instance, Mondelez introduced a special Valentine’s Day extension of its Toblerone brand, which features special-edition, heart-shaped packaging with a romantic, premium aesthetic. The package includes Toblerone’s classic Swiss chocolate varieties, including dark chocolate with honey and almond nougat and milk chocolate with honey and almond nougat. The package also includes a hidden card for a personal message, making it suitable for a gift purchase. Similarly, Cadbury has launched Pop Out Heart Limited Edition Dairy Milk chocolate - bite-sized pieces individually wrapped in a bag designed for sharing. The product includes a pop-up 3D heart-shaped card that can be customized with a romantic message.
As brands focus on aligning product development with key gifting periods, seasonal sales will continue to drive growth and meet consumer demand. At the same time, some companies will also opt to refresh existing packaging designs rather than introducing entirely new products. With the growing awareness about vegan, sugar-free, gluten-free, and organic chocolates, these chocolates are now preferred by consumers across all age groups as a primary gift. Thus, this high demand for chocolates and their products during festivals would enhance the market for chocolate in the country. All of these points are adding some new opportunities in the Thailand Chocolate Market.
Thailand Chocolate Market Competitive Snapshot from 2025-2030
The report highlights established and emerging players in the global Thailand Chocolate Market, evaluating their strengths, challenges, and potential for innovation.
Key Competitors Include:
- Nestlé
- Ferrero SpA
- Mars Thailand Inc.
- Hershey
- Glico
- Grupo Arcor
- Mayora
- Lindt & Sprüngli
- Alfred Ritter
- Mondelez
- Kad Kokoa
Their activities include partnerships, product launches, and geographic expansions.
Thailand Chocolate Industry Prime Challenge
Growing Competition from Alternate Categories – The Chocolate Market in Thailand is expected to experience subdued growth in volume terms in the forthcoming years, largely due to an increasing consumer awareness of the negative effects of excessive sugar consumption. As the chocolates with higher Cocoa content are expensive, the consumer volumes of chocolate sales are expected to register a decline.
Additionally, there is growing competition from other types of snacks, such as chocolate-coated biscuits, packaged pastries, and chocolate desserts available in convenience stores. These segments have seen increased product innovation, with packaged cakes, in particular, attracting consumers who might otherwise choose traditional chocolates. These developments in the parallel industry are set to emerge as a challenge to the chocolate manufacturers and suppliers in Thailand.
Frequently Asked Questions (FAQs):
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- Which competitors dominate the landscape?
- What risks could disrupt market expansion?
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