Over the forecast period, chocolate confectionery is expected to see continued, although lower, retail current value growth, and a higher rate of retail volume growth in 2024 than in 2023, as unit price growth is set to slow down, which will encourage impulse purchases amongst consumers. However, growth patterns are expected to be different at a category level.
Plant-based chocolate confectionery remains a niche in Singapore, with the greater presence of local players and vegan-centric brands, and these products are more readily available in specialist grocers with a more specific target audience, such as health-conscious consumers or those seeking premium options. The preference for dairy-based chocolate confectionery, which aligns with consumers’ familiarity with the taste and texture, along with the limited availability of plant-based options from global leading chocolate brands, poses a challenge to the growth of plant-based chocolate confectionery.
With the increased polarisation of consumers’ behaviours and preferences in chocolate confectionery, it is set to see different influences on channel distribution in the forecast period. Niche artisanal brands continue to grow in popularity, as locals appreciate the craftmanship, superior quality, and taste of such products, and enjoy the experience of a decadent treat.
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Understand the latest market trends and future growth opportunities for the Chocolate Confectionery industry in Singapore with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to a comprehensive range of core packaged food categories.
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This is the aggregation of tablets, countlines, chocolate pouches and bags, boxed assortments, seasonal chocolate, chocolate with toys, and other chocolate confectionery. Nuts and fruits covered in chocolate are included in this category. Note that chocolate overtly positioned for baking/cooking purposes is excluded from Euromonitor International's confectionery coverage.See All of Our Definitions
This report originates from Passport, our Chocolate Confectionery research and analysis database.
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