Hershey, a global leader in chocolate and sugar confectionery, opened its Asia Innovation Center in Shanghai on Thursday.

The R&D hub, located in Pudong, will enable Hershey to develop, test and launch new products customized to the tastes of consumers in China and across Asia, said Will Papa, vice-president of Hershey Global Research and Development.

"It is our fundamental step toward the company's global target of raising net sales from last year's $6.6 billion to $10 billion by 2017," said Papa.

The two-floor 22,000-square-foot R&D facility houses R&D laboratories, a pilot plant for chocolate and sweets and a development center for emerging product offerings.