Thailand Chocolate Market Size Set to Reach USD 332 Million by 2030, Growing at a CAGR of 5.3%

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The Thailand Chocolate Market size was valued at around USD257 million in 2024 and is projected to reach USD332 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, cites MarkNtel Advisors in the recent research report.

Various factors have contributed to the growth, which include evolving consumer choices, the high influence of Western cuisine culture on the food intake, influx of international tourists specifically from Europe and Asian countries, growing health awareness about potential benefits of dark chocolates, expansion in the hotel industry and wide availability of cocoa pulp that has been utilized in the preparation of varied beverages, cookies, hot chocolate drinks, mug cakes, and candy bars.

Premium quality handcrafted, fully organic artisanal chocolates have been in high demand in the country for usage as conventional gifts on their special events like Loy Krathong, Songkran, Bun Bang Fai, Phi Ta Khon, and Yi Peng Lantern Festival. Moreover, the rising demand for vegan, gluten-free, and sugar-free chocolates is also stimulating the chocolate market in the country. The Thai population is becoming more health-conscious, due to which the consumption of dark chocolate is increasing as it helps in the reduction of stress hormones, relaxes the mind, and elevates mood.

Additionally, the increasing health benefits of dark chocolates in lowering mental stress and balancing sugar levels, in addition to the growing usage of chocolates for the preparation of beverages and drinks, are also raising the demand for chocolates in the country, further states the research report “Thailand Chocolate Market Analysis, 2025.”

Thailand Chocolate Market Segmentation Analysis

Retail Consumption Segment Holds Largest Market Share

Based on the application, the market is bifurcated into Food & Beverages Industries, Bakery, HoReCa, and Retail Consumption. Among these, the retail consumption dominates the market. The retail consumption formed more than 50% of the country’s chocolate market. This segment is targeted by the top companies such as Nestle, Mars, Hersheys, etc. These companies garner majority of their sales from retail category.

The chocolate manufacturers are banking on the retail category for the coming years on account of Gen Z’s high discretionary spending on gifts, where chocolate is the most preferred item. Moreover, the introduction of diverse flavors, expansion of sales via e-commerce channels, etc., are also boosting the market share of retail channels. Consumption of chocolates in confectioneries and bakeries occurs in the form of solid bar candies, Choco-chips, smoothies, hot chocolate fudge, and cocoa powder, which is mainly utilized in making syrups and a variety of different blends of cake designs. Consumers are demanding dark chocolates and associated bakery products on account of their high health benefits, low sugar content, and suitability for lactose-intolerant populations.

The Supermarkets & Hypermarkets are the Most Preferred Channel of Distribution

The supermarkets & hypermarkets segment holds a 60% share in the market. Customers tend to purchase chocolate products from supermarkets as they provide great offers and combos, and it is slightly cheaper than other purchasing options and also gives a wide variety of chocolate bakery items in comparison to stores and brand-owned outlets.

Also, consumers can actually check and select products that perfectly suit their requirements. For instance, some of the supermarket names, such as Rimping, Gourmet Market, Tops, Makro, and Foodland, are located in high urban residential areas of Thailand and offer a broad variety of packaged foods like chocolate and other products. These markets always find and display new products to excite and attract shoppers. All these factors made supermarkets & hypermarkets a customer-preferred location for buying chocolate products and thus will facilitate a high market share of this segment in the forecast period too.

Competitive Landscape

With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Nestlé, Ferrero SpA, Mars Thailand Inc., Hershey, Glico, Grupo Arcor, Mayora, Lindt & Sprüngli, Alfred Ritter, Mondelez, Kad Kokoa, and others, are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the country?
4. How has the industry been evolving in terms of geography & product adoption?
5. How has the competition been shaping up across various regions in this country?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?