The European chocolate market increased its value sales by more than 7% between 2009 and 2014, making it one of the continent’s best performing food categories, new research from Mintel has shown.
The segment remained resilient in spite of economic turmoil and the rising price of commodities, recording volume sales growth of 2% and outperforming other markets where inflation was also an obstacle to growth. Mintel has produced an infographic that shows how chocolate confectionery fared better than breakfast cereals and desserts during the five-year period – and dramatically better than rice, yogurt and pasta, which all recorded negative value growth in that time – although the cookies and crackers, and snack foods segments, both grew at an ever faster rate.
The market insights provider claimed that manufacturers’ willingness to embrace the trend in snacking, with product developments such as “bite-size” individual chocolates, had laid the foundation for encouraging growth.
A spokesperson for Mintel said: “The beauty of the chocolate confectionery segment is that there are so many available varieties of product which can cater for all sorts of occasions and a wide range of tastes. Furthermore, many are multi-functional: for example individually wrapped chocolates are not only for periodic snacking but also for sharing, such as while watching entertainment. Then there are gifts, either in formal, decorative packaging and/or for specific, and seemingly more numerous, seasons. Countlines have long provided a sweet addition to lunch boxes. Not many other food markets can cater for all these consumption permutations.
“There is also a wide range in terms of price/value positioning. It can be a relatively cheap and cheerful way of filling a hunger gap, but the likes of single-origin products cater for those who take their subject seriously. Another reason for weathering the recession relatively well: an affordable treat in times of austerity.
“Moreover, suppliers have proved remarkably adept at managing consumer reaction to potential market shocks. Unlike some other areas, such as ready meals, where there is a certain amount of flexibility in the mix of ingredients used, when sugar and cocoa prices head skyward, there is less room to manoeuvre. Yet by careful manipulation of sizes under the guise of portion control; clever marketing of fun in less-than-humorous times; and by providing a way for customers to trade down or consume less of more value added products without abandoning the product altogether, it has survived well intact. The industry has also held out well against the “bad for health” publicity. Compared with one of its major constituents, sugar… chocolate is still highly regarded among most Europeans. It has even received a clean bill of health by some in the science community – a message chocoholics are only too pleased to accept.”
© FoodBev Media Ltd 2024