diff --git a/app/code/Magento/Swatches/Helper/Data.php b/app/code/Magento/Swatches/Helper/Data.php
index eb312a751a97d..4183d3c20c3ca 100644
--- a/app/code/Magento/Swatches/Helper/Data.php
+++ b/app/code/Magento/Swatches/Helper/Data.php
@@ -85,6 +85,11 @@ class Data
      */
     private $swatchesCache = [];
 
+    /**
+     * @var array
+     */
+    private $attributeOptionsCache = [];
+
     /**
      * @var Json
      */
@@ -438,7 +443,7 @@ public function getSwatchAttributesAsArray(ProductInterface $product)
         foreach ($swatchAttributes as $swatchAttribute) {
             $swatchAttribute->setStoreId($this->storeManager->getStore()->getId());
             $attributeData = $swatchAttribute->getData();
-            foreach ($swatchAttribute->getSource()->getAllOptions(false) as $option) {
+            foreach ($this->getAttributeOptions($swatchAttribute, (int)$attributeData['attribute_id']) as $option) {
                 $attributeData['options'][$option['value']] = $option['label'];
             }
             $result[$attributeData['attribute_id']] = $attributeData;
@@ -447,6 +452,24 @@ public function getSwatchAttributesAsArray(ProductInterface $product)
         return $result;
     }
 
+    /**
+     * Retrieve attribute options with per-instance memoization.
+     *
+     * @param Attribute $attribute
+     * @param int $attributeId
+     * @return array
+     */
+    private function getAttributeOptions(Attribute $attribute, int $attributeId): array
+    {
+        $cacheKey = $attributeId . '_' . (int)$attribute->getStoreId();
+
+        if (!isset($this->attributeOptionsCache[$cacheKey])) {
+            $this->attributeOptionsCache[$cacheKey] = $attribute->getSource()->getAllOptions(false);
+        }
+
+        return $this->attributeOptionsCache[$cacheKey];
+    }
+
     /**
      * Get swatch options by option id's according to fallback logic
      *
diff --git a/app/code/Magento/Swatches/Test/Unit/Helper/DataTest.php b/app/code/Magento/Swatches/Test/Unit/Helper/DataTest.php
index af070fc7937b5..c2189828fd8c2 100644
--- a/app/code/Magento/Swatches/Test/Unit/Helper/DataTest.php
+++ b/app/code/Magento/Swatches/Test/Unit/Helper/DataTest.php
@@ -664,6 +664,62 @@ public function testGetSwatchAttributesAsArray($optionsArray, $attributeData, $e
         $this->assertEquals($result, $expected);
     }
 
+    /**
+     * @return void
+     */
+    public function testGetSwatchAttributesAsArrayMemoizesAttributeOptionsPerStore(): void
+    {
+        $storeOneOptions = [
+            ['value' => 45, 'label' => 'green'],
+            ['value' => 46, 'label' => 'yellow']
+        ];
+        $storeTwoOptions = [
+            ['value' => 45, 'label' => 'grun'],
+            ['value' => 46, 'label' => 'gelb']
+        ];
+        $attributeData = ['attribute_id' => 52];
+        $expectedStoreOne = [
+            52 => [
+                'attribute_id' => 52,
+                'options' => [
+                    45 => 'green',
+                    46 => 'yellow'
+                ]
+            ]
+        ];
+        $expectedStoreTwo = [
+            52 => [
+                'attribute_id' => 52,
+                'options' => [
+                    45 => 'grun',
+                    46 => 'gelb'
+                ]
+            ]
+        ];
+
+        $this->swatchAttributesProvider
+            ->method('provide')
+            ->with($this->productMock)
+            ->willReturn([$this->attributeMock]);
+
+        $storeMock = $this->createMock(Store::class);
+        $storeMock->method('getId')->willReturnOnConsecutiveCalls(1, 1, 2);
+        $this->storeManagerMock->method('getStore')->willReturn($storeMock);
+
+        $this->attributeMock->method('getData')->with('')->willReturn($attributeData);
+
+        $sourceMock = $this->createMock(AbstractSource::class);
+        $sourceMock->expects($this->exactly(2))
+            ->method('getAllOptions')
+            ->with(false)
+            ->willReturnOnConsecutiveCalls($storeOneOptions, $storeTwoOptions);
+        $this->attributeMock->method('getSource')->willReturn($sourceMock);
+
+        $this->assertEquals($expectedStoreOne, $this->swatchHelperObject->getSwatchAttributesAsArray($this->productMock));
+        $this->assertEquals($expectedStoreOne, $this->swatchHelperObject->getSwatchAttributesAsArray($this->productMock));
+        $this->assertEquals($expectedStoreTwo, $this->swatchHelperObject->getSwatchAttributesAsArray($this->productMock));
+    }
+
     /**
      * @return array
      */