U.S. sales of chocolate are expected to exceed $19 billion in 2014, up from $16 billion in 2006, according to Rockville, Md.-based Packaged Facts, a market research group. Of that, premium chocolate will account for 25 percent of sales in 2011, up from 17 percent five years earlier. According to Packaged Facts' "Chocolate Market in the U.S.: Trends and Opportunities in Premium, Gourmet and Mass Chocolate Products", the demand for premium chocolate will persist as a leading growth trend, especially when the economy recovers. The healthy chocolate trend, featuring "better-for-you" ingredients, is likewise expected to fuel the market as a subset of the premium trend.
"For many chocolate-loving Americans it's more about the experience than it is about mere consumption. To meet this demand, premium chocolatiers are setting off on culinary adventures, discovering new layers of flavor and textures by experimenting with umami flavors or developing products to match consumers' moods," said Don Montuori, publisher of Packaged Facts.
Worldwide chocolate sales also increased in 2009, despite the recession, Mintel
International Group Ltd found: “It’s clear that, despite economic trouble this year (2009), the world’s chocolate lovers didn’t deviate from their favorite treat. Chocolate is a small, affordable indulgence for shoppers who are cutting back on spending elsewhere. Even in countries not known for chocolate consumption, sales are on the rise." Mintel's data show that chocolate sales rose: US 2.6%, UK 5.9%, China 18%, Argentina 1.8% and Belgium 3.2%.
An October 2009 report from Leatherhead Food Research, forecasts that chocolate sales will rise by around 15 per cent to $93.5bn in the next four years. A lot of the growth will come from regions such as Asia and the Middle East. For example, while the premium chocolate market in India is still small, it is growing 30% to 40% a year, according to industry observers in 2010. "There is a segment out there, mostly in the urban areas, which is aware and conscious of premium chocolate brands." |
