Discussing chocolate market trends
This paper discusses the global chocolate confectionery market, including market size (both in terms volume and value), value growth, consumption per capita and consumption growth. It briefly covers the key issues the sector is facing, such as rising cocoa prices and increases in obesity, and marketing claims. The main focus of the paper is on global trends, including ‘better cocoa’ and ‘better-for-you chocolate’, innovative ingredients, production methods, and packaging. The paper concludes with some ideas about what the future holds for the chocolate confectionery sector.
According to data from MarketsandMarkets, global chocolate market will be worth USD98.3 billion by 2016 (1).
Mintel's Global Market Navigator (GMN) data (2) indicates that the USA is the market leader in chocolate confectionery, with a market worth USD20.08bn in 2013 (Figure 1). This is followed by Russia, which is worth USD9.98bn; Germany, France and the UK, which have markets valued between USD6-7bn per country; and Brazil and China at just over USD4bn each. The Italian market is estimated to be worth USD2bn; and even some of the smaller markets, such as Mexico, India and Spain, were each valued at over USD1bn in 2013.
According to Mintel's GMN, the USA leads the way in terms of volume too, with 1.7m tonnes of chocolate produced in 2013. Russian production is estimated at 0.95m tonnes, whilst Germany produced 682,000 tonnes (Figure 2).
Table 1 below shows actual value growth of the global chocolate market for 2012 and 2013, as well as estimated value growth for 2014-2016; the green shaded fields depi ...