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

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

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.

Southeast Asia is popular for its premium cocoa beans, which are key ingredients in making chocolates. Therefore, several companies have set up their chocolate manufacturing units in the country. High Tourist influx from western nations like the US, the UK, and other European and Asian countries has resulted in high demand for locally crafted, premium quality artisanal chocolates.

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Thailand is witnessing a shift in consumer preferences with exposure to Western culture due to social media and increased tourism. Therefore, chocolates have now transformed into mainstream material for making different snacks, cakes, and confectionery items as per the changing demand of consumers, influenced by Western countries. Chocolates in Thailand are now finding their application in beverage preparation, in the bakeries, and other confectionery products.

Furthermore, “The Thailand Craft Chocolate Festival, held annually in Thailand, showcases manufacturers, distributors, and varieties of different chocolates. With the boom of tourism in Thailand, demand for high-class craft chocolates from local manufacturers is there from high-end hotels and restaurants. Chocolate and cocoa beverages are popular among locals and international tourists.

The country’s climatic conditions have led to consumers preferring Iced chocolate, and creations by Thai baristas have led to varied options in the beverage section, which utilizes the availability of fresh cocoa pulp to meet the demand of consumers during the forecast period. Also, Chocolate has been adopted for making beverages, cakes, small candy bars, or snack bars like KitKat and distributed as a conventional gift on special festivals and events such as birthdays, events, and festivals across the country.

Thailand Chocolate Market Driver:

Rising Awareness of Health Benefits of Chocolate Fueling Market Growth – The Thai population is moving towards veganism and flexitarian diets, and demand for sugar-free, vegan, organic, and gluten-free products is on the rise in the country. Chocolate intake is advantageous in stress reduction as it reduces stress hormones (cortisol), relaxes the mind, and facilitates happiness, which creates a hike in the market. The total chocolate confectionery consumption in this country is around 10,000 tons, which determines per capita annual consumption to be 128.6 gms.

There has been a rise in the lactose-intolerant population in Thailand, with an increase in gluten sensitivity quotient among the population. Moreover, increasing awareness of dark chocolates’ benefits like the presence of polyphenols, which fight inflammation and reduce skin cell damage, epicatechin that helps to combat oxidative stress, and flavonoids that reduce the risk of neurogenerative disorders and protect cholesterol levels. These associated health benefits further fuel demand for chocolate in the country.

Thailand Chocolate Market Opportunity:

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 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.

Thailand Chocolate Market (2025-30): Segmentation Analysis

The Thailand 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 country level. Based on the analysis, the market has been further classified as follows:

Based on Application:

• Food & Beverages Industries
• Bakery
• HoReCa
• Retail Consumption

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.

Additionally, the demand for chocolates from bakeries is on the rise. The chocolates are used in the form of solid bars, powder, and chips at the bakery for making syrups or for melting into batters, fillings, and glazes. Chocolates are used to make cakes, brownies, cookies, truffles, cupcakes, waffles, and other food products. Good quality chocolates are used by the bakers to give richer flavor, decoration, good taste, and better texture. For instance, in Kad Kokoa, 70% of dark chocolate is used by some of the chefs in Thailand. All of these factors are increasing the demand for chocolates and dominating the bakery segment in the Thailand Chocolate Market.

Based on Sales Channel:

• Supermarkets & Hypermarkets
• Convenience Stores
• Brand Owned Outlets
• Online

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.

Thailand Chocolate Industry Recent Development:

• July 2024: Kad Kokoa, the company, unveiled new products in its chocolate portfolio business: Thai Milk, Tea Bon, Coconut Rice Pandan, and Lychee Basil chocolates.

Gain a Competitive Edge with Our Thailand Chocolate Market Report

1. The Thailand Chocolate Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the 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 Thailand Chocolate Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.

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