recent estimates from the research firms anticipate that the indonesian premium chocolate market is likely to witness positive growth over the forecast period of 2018-2032. as per the research report, the overall market revenue for 2018 is likely to be estimated around usd 2.3 billion, and by 2032 this is expected to reach usd 4.1 billion. factors such as rising disposable income, increasing female workforce, higher spending power, and an increase in health-conscious consumers are all driving the growth of the premium chocolate market in indonesia. consumers are shifting their preferences towards on the products that provide superior taste, quality, and health benefits. the annual growth rate of the indonesian premium chocolate market is estimated at 7.1%. another key factor driving the market forward is the availability of innovative and unique products. manufacturers are introducing innovative product flavors, indulgent chocolates, and luxury gifting boxes in order to stay ahead of competition. high-end chocolate retailers and companies such as valrhona, ferrero, and godiva, are increasingly entering the indonesian market and setting up their own shops and specialty stores in indonesia’s major cities. this has helped in increasing the visibility of premium chocolates within the country. these companies have also captured a large chunk of the premium chocolate sales in the country, while also encouraging higher brand loyalty. premium chocolate products are also gaining popularity among indonesian consumers due to the increased focus on health benefits such as antioxidants, which are naturally derived from cacao. therefore, companies are producing healthier versions of dark chocolates and low-sugar chocolates. additionally, support from the government and organizations such as indonesian cocoa board, indonesian chocolate association, and the indonesian cocoa industrial association, are promoting the use of premium quality chocolates within the country and encouraging companies to produce unique products. this, in turn, is helping in driving the indonesian premium chocolate market forward.
