Market Research Report

Philippines Chocolate Market Research Report Forecast: (2025-2030)

Philippines Chocolate Market - By Product Type (Dark Chocolate, Milk Chocolate, White Chocolate, Others), By Form (Chocolate Bars, Liquid Chocolate, Truffles Chocolate, Others), By...Distribution Channel (Offline [Retail, Hypermarket/Supermarket, Convenience Stores], Online), By Category (Conventional, Organic, Lactose-Free, Gluten-Free, Zero Sugar) and Others Read more

  • Food & Beverages
  • Jan 2025
  • 112
  • PDF, Excel, PPT

Market Insights & Analysis: Philippines Chocolate Market (2025-30):

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. The Philippines Chocolate Market is significantly being driven by several factors like evolving consumer preferences and market dynamics, transforming the market growth. Also, the expansion of the retail sector and the rapid growth of e-commerce platforms, have further contributed to the market growth by enhancing accessibility to a wider range of consumers to explore a diverse range of chocolate offerings. These online platforms and organized retail chains have played a pivotal role in driving annual revenue growth in the country. Additionally, rising spending on confectionary products such as chocolates is driven by rapid urbanization and growing disposable income with a rate of approximately 15% is fueling the market growth in the Philippines. With 38% of total confectionery sales attributed to chocolate, its popularity remains unwavering.

Report Coverage Details
  Historical Years   2020-23
  Base Years
  2024
  Forecast Years
  2025-30
  Market Value in 2024   USD 419.11 Million
  Market Value in 2030   USD 707.52 Million
  CAGR (2025-30)   8.88%
  Top Key Players Nestlé, Hershey's, Cadbury Adams, Mars, Ginto, Mondelez International Inc., JG Summit Holdings Inc., Comfoods, Delfi, Twin Oaks Foods Corporation, Mayora Philippines, and others
  Key Report Highlights
  • Market Dimensions & Projections
  • Pricing Evaluation,
  • Recent Strategic Moves by Companies,
  • Primary Stakeholders,
  • Analysis of Import and Export Trends,
  • Competitive Landscape Assessment,
  • Emerging Opportunities,
  • Market Trends and Indicators

 

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In the Philippines, chocolate has become more important for gifting during festivals and celebrations influenced by its cultural practices, amplifying the demand for premium quality chocolates. Additionally, the export potential of chocolates made up of locally produced cocoa continues to rise. The Philippines exported chocolates worth USD 15.7 million in 2022 to the United States, China, and Japan. Moreover, the Philippines’ cocoa industry is also increasing through collaborations with local farmers and including their innovative ingredients in the new chocolate offering.

Furthermore, the rising popularity of single-origin and bean-to-bar chocolates highlights consumer interest in transparency and authenticity, allowing brands to launch distinct flavors of Philippine cacao. Along with it, the growing tourism has also emerged as a crucial growth aspect as it increases the demand for locally inspired specialty chocolates as souvenirs. Sustainability is still a top priority as producers use environmentally friendly packaging to appeal to consumers who care about the environment. This trend emphasizes how important it is to provide distinctive and sustainable products encouraging collaborations with regional cacao growers to produce premium goods that come from ethical sources. A market that is dynamic and changing and presents many chances for expansion and innovation is reflected in these factors taken together.


Philippines Chocolate Market Research Report Forecast: (2025-2030)

Philippines Chocolate Market Driver:

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.

Philippines Chocolate Market Growth Opportunity:

Introduction of Healthier Chocolate Options – Due to the increasing health consciousness among Filipino consumers, the demand for healthier chocolate alternatives in the Philippines market is growing rapidly. Snacks with added nutrients and less sugar are being actively sought after by health-conscious consumers. In response to consumer preferences, chocolate companies are now launching their sugar-free, vegan, and organic varieties. Moreover, global trends toward plant-based diets have also captured the hearts of Filipino local consumers. About 34% of Filipinos are either vegetarians or vegans, making it more justifiable to promote demand for dairy-free chocolates. Furthermore, dark chocolate made with high cacao content is popular for its heart-healthy properties and antioxidants.

In addition, local manufacturers are enhancing the market expansion process by coming up with innovations featuring various functional ingredients, including probiotics and superfoods such as quinoa and chia. Health professionals also state that eating chocolate in moderation raises the production of serotonin and endorphins in the body. This creates a calming feeling in the brain while acting as an antidepressant that gives an instant mood uplift. This, in turn, will further widen the market as it caters to the burgeoning wellness trend and introduces more health-conscious chocolate products.

Philippines Chocolate Market Challenge:

Volatility in Raw Cacao Prices Due to Supply Chain Disruptions – Due to supply chain interruptions, raw cocoa price volatility is a significant problem in the Philippine chocolate industry. Even though it produces a lot of cocoa, the Philippines imports a huge amount of it for processing purposes. More than forty percent of its cocoa supplies come from outside the country mostly from Malaysia and Indonesia. Also, the fluctuation in the price of global cocoa because of the lower yields driven by the climate change impacts and unpredictable weather patterns, further hamper the market growth. The International Cocoa Organization reported the cocoa supply deficit globally in 2024. This results in the rising prices of the final product as the production cost increases, which further strains imports and impacts affordability.

Moreover, the growth and innovation in premium and artisanal chocolate segments are potentially hindering the growth of the Philippine's Chocolate Market. The challenge including port congestion, and rising transportation costs, restricts local producers also in accessing high-quality cacao as logistical disruptions, exacerbate the situation. This price volatility directly affects production costs, forcing manufacturers to either absorb losses or increase product prices. This limits the growth of premium and artisanal chocolate among price-sensitive consumers in the Philippines.

Philippines Chocolate Market Trend:

Innovations in Flavors, Including Local Ingredients Like Calamansi and Ube – Local ingredients like Ube and Calamansi are becoming more popular in the Philippines where there is a growing trend of creative flavors that appeal to Filipino consumers. The Philippines' Indigenous citrus fruit calamansi gives chocolates a distinctively tangy twist. Similarly, chocolate coatings and fillings are increasingly using a vivid purple yam. Both resonate with Filipino consumers and appeal to the Filipino love for traditional flavors. For instance, products like; calamansi truffles and ube-infused chocolate bars offered by Artisanal brands have successfully leveraged this trend, as these bars gaining popularity as premium gifts and souvenirs. These innovative flavors cater to local tastes as well as position the Philippines as a source of unique and exotic chocolate offerings in the global market.

Philippines Chocolate Market (2025-30): Segmentation Analysis

The Philippines Chocolate Market study of MarkNtel Advisors evaluates & highlights the major trends and influencing factors in each segment. It includes predictions for the period 2025–2030 at the national level. Based on the analysis, the market has been further classified as:

Based on Product Type:

  • Dark Chocolate
  • Milk Chocolate
  • White Chocolate
  • Others

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. Its creamy texture and balanced sweetness attract all age groups as it matches Filipino taste preferences. During any festival or celebration, milk chocolates are often the preferred choice for gifting in the Philippines, further driving the segment growth. Additionally, its versatility in confectionery applications like coating and filling in candies, biscuits, and cake & pastries, also boosts its relevance in the market. Moreover, dark chocolate is gradually growing in popularity due to its health benefits, it still trails behind milk chocolate, which remains the most consumed type in the country.

Based on Category:

  • Conventional
  • Organic
  • Lactose-Free
  • Gluten-Free
  • Zero Sugar
  • Others

In the Philippines Chocolate Market, the conventional category is the leading segment holding around 75% of the entire market. This dominance is due to the consumer preference for traditional chocolate products which are easily available and also affordable in the Philippines market. The segment has deep cultural significance including both dark and milk chocolate varieties, especially during festival seasons. It appeals to a broader consumer base because of uses standard ingredients like sugar, milk, and cocoa in its production.

Additionally, health-conscious consumers are also preferring organic, lactose-free, and zero-sugar chocolates but still hold a smaller share of the market. The demand for these alternatives is expected to rise in the forecasted period as consumer preferences shift toward healthier options.

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.

Gain a Competitive Edge with Our Philippines Chocolate Market Report

  1. The Philippines Chocolate Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & market share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of market dynamics & make informed decisions.
  2. This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
  3. The Philippines Chocolate Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics with the help of surveys, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

Frequently Asked Questions

   A. The Philippines Chocolate Market is expected to grow at a compound annual growth rate (CAGR) of around 8.88% during 2025-30.

   A. 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.

   A. The increasing demand for premium and artisanal chocolates is expected to drive the Philippines Chocolate Market during 2025-30.

   A. The top companies in the Philippines Chocolate Market are NestlĂ©, Hershey's, Cadbury Adams, Mars, Ginto, Mondelez International Inc., JG Summit Holdings Inc., Comfoods, Delfi, Twin Oaks Foods Corporation, Mayora Philippines, and others.

   A. The milk chocolate segment held the largest share of the Philippines Chocolate Market.

   A. Innovations in flavors, including local ingredients like Calamansi and Ube are the key trends shaping the growth of the Philippines Chocolate Market.

   A. Volatility in raw cacao prices due to supply chain disruptions are possible restraints affecting the growth of the Philippines Chocolate Market.

  1. Market Segmentation
  2. Introduction
    1. Product Definition
    2. Research Process
    3. Assumptions
  3. Executive Summary
  4. Philippines Chocolate Market Trends & Development
  5. Philippines Chocolate Market Dynamics
    1. Drivers
    2. Challenges
  6. Philippines Chocolate Market Hotspot & Opportunities
  7. Philippines Chocolate Market Policies & Regulations
  8. Philippines Chocolate Market Pricing Analysis, 2020-2025
  9. Philippines Chocolate Market Supply Chain Analysis
  10. Philippines Chocolate Market Analysis, 2020-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Quantity Sold (Thousand Tons)
    2. Market Share & Analysis
      1. By Product Type
        1. Dark Chocolate - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        2. Milk Chocolate - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        3. White Chocolate - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        4. Others - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      2. By Form
        1. Chocolate Bars - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        2. Liquid Chocolate - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        3. Truffles Chocolate - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        4. Others - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      3. By Distribution Channel
        1. Offline - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
          1. Retail - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
          2. Hypermarket/Supermarket - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
          3. Convenience Stores - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        2. Online - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      4. By Category
        1. Conventional - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        2. Organic - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        3. Lactose-Free - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        4. Gluten-Free - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        5. Zero Sugar- Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        6. Others - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      5. By Region
        1. Luzon - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        2. Visayas - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
        3. Mindanao - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      6. By Company
        1. Competition Characteristics
        2. Market Share & Analysis
  11. The Philippines Dark Chocolate Market Analysis, 2020-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Quantity Sold (Thousand Tons)
    2. Market Share & Analysis
      1. By Form - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      2. By Distribution Channel - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      3. By Category - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      4. By Region-Market Size & Forecast 2020-2030, USD Million & Thousand Tons
  12. Philippines Milk Chocolate Market Analysis, 2020-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Quantity Sold (Thousand Tons)
    2. Market Share & Analysis
      1. By Form - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      2. By Distribution Channel - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      3. By Category - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      4. By Region-Market Size & Forecast 2020-2030, USD Million & Thousand Tons
  13. Philippines White Chocolate Market Analysis, 2020-2030F
    1. Market Size & Analysis
      1. By Revenue (USD Million)
      2. By Quantity Sold (Thousand Tons)
    2. Market Share & Analysis
      1. By Form - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      2. By Distribution Channel - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      3. By Category - Market Size & Forecast 2020-2030, USD Million & Thousand Tons
      4. By Region-Market Size & Forecast 2020-2030, USD Million & Thousand Tons
  14. Philippines Chocolate Market Key Strategic Imperatives for Growth & Success
  15. Competition Outlook
    1. Company Profiles
      1. Nestlé
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      2. Hershey's
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      3. Cadbury Adams
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      4. Mars
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      5. Ginto
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      6. Mondelez International Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      7. JG Summit Holdings Inc.
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      8. Comfoods
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      9. Delfi
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      10. Twin Oaks Foods Corporation
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      11. Mayora Philippines
        1. Business Description
        2. Product Portfolio
        3. Strategic Alliances or Partnerships
        4. Recent Developments
        5. Financial Details
        6. Others
      12. Others
  16. Disclaimer


Philippines Chocolate Market Segmentation