June 05, 2014 - Blogs
Innovations of new products in dark chocolate and milk chocolate segment with new flavors and low-calorie chocolates will help drive moderate growth of the U.S. retail chocolate industry to an estimated $19.3 billion by 2018, according to a trends and forecast report from Research and Markets.
Consumers’ concern of obesity and related health risks serve as challenges to increasing category sales. In deciding to buy chocolate, 89 percent of consumers buy it as a treat or reward and 87 percent buy it as a snack option, while 83 percent of consumers look at the size of chocolate candy packages to determine the best value for the money and 72 percent buy chocolate to improve their mood or provide an energy boost.
Major manufacturers realized the importance of consumer’ concerns and launched miniature versions of their major brands in 2013 to help drive sales among the growing snacking sector. Snacking in-between meals has become more common as a simple way to stay satiated all day and smaller bite-sized portions help fill the snacking desire. The smaller pieces allow for increased calorie control on the part of the consumer who might think an entire chocolate bar is too much.
(FPD Factoid: in 2013 lower-calorie food products drove 82% of the sales growth among the Healthy Weight Commitment Foundation (HWCF) member CPG companies, increasing $1.25 billion, compared to less than $300 million for high-calorie products.)
In the United States, the chocolate confectionery is dominated by two companies—The Hershey Co. and Mars, Inc.—that accounted for a combined 65% share of overall value sales. Euromonitor International predicts the U.S. chocolate confectionery market will have constant value growth of 7 percent between 2013 and 2018; however, higher prices and smaller pack sizes are expected to drive retail volume sales down by 1 percent over the forecast period.
Looking at the bigger picture, the global retail chocolate industry is growing at an impressive rate and is expected reach $117.3 billion by 2018, with the milk chocolate segment predicted to emerge as the largest-growth market.
Consumer awareness of the many health benefits of chocolate will be a key driver of industry growth. Vitamin- and calcium-rich sugar-free chocolates, dark chocolate, and organic and natural products are some products expected to escalate the global chocolate industry toward high growth rates in future. In terms of health and wellness concerns, consumers are embracing low-calorie or sugar-free chocolate products.
While global concern about obesity and wellness, manufacturers need to pay special attention to designing great tasting lower-calorie chocolate products that will keep consumers wanting more. With each generation of high-intensity sweeteners improving upon the last, reducing both the sugar and the calories in sweets has become less of a dream and more of a reality. The trend in confections is to reduce calories and reduce sugar, but one can’t be reduced without the other because sugar is where calories are, yet it is also where sweetness is. Find out how product designers are accomplishing this in the “Confections for a Slimmer Society" Slide Show from Food Product Design’s FoodTech Toolbox.
And for something a little offbeat, check out “Seeing the Light: Holographic Chocolate" to learn how food science and physics came together to make hologram chocolates out of molding technology and the properties of light.
Innovations of new products in dark chocolate and milk chocolate segment with new flavors and low-calorie chocolates will help drive moderate growth of the U.S. retail chocolate industry to an estimated $19.3 billion by 2018, according to a trends and forecast report from Research and Markets.
Consumers’ concern of obesity and related health risks serve as challenges to increasing category sales. In deciding to buy chocolate, 89 percent of consumers buy it as a treat or reward and 87 percent buy it as a snack option, while 83 percent of consumers look at the size of chocolate candy packages to determine the best value for the money and 72 percent buy chocolate to improve their mood or provide an energy boost.
Major manufacturers realized the importance of consumer’ concerns and launched miniature versions of their major brands in 2013 to help drive sales among the growing snacking sector. Snacking in-between meals has become more common as a simple way to stay satiated all day and smaller bite-sized portions help fill the snacking desire. The smaller pieces allow for increased calorie control on the part of the consumer who might think an entire chocolate bar is too much.
(FPD Factoid: in 2013 lower-calorie food products drove 82% of the sales growth among the Healthy Weight Commitment Foundation (HWCF) member CPG companies, increasing $1.25 billion, compared to less than $300 million for high-calorie products.)
In the United States, the chocolate confectionery is dominated by two companies—The Hershey Co. and Mars, Inc.—that accounted for a combined 65% share of overall value sales. Euromonitor International predicts the U.S. chocolate confectionery market will have constant value growth of 7 percent between 2013 and 2018; however, higher prices and smaller pack sizes are expected to drive retail volume sales down by 1 percent over the forecast period.
Looking at the bigger picture, the global retail chocolate industry is growing at an impressive rate and is expected reach $117.3 billion by 2018, with the milk chocolate segment predicted to emerge as the largest-growth market.
Consumer awareness of the many health benefits of chocolate will be a key driver of industry growth. Vitamin- and calcium-rich sugar-free chocolates, dark chocolate, and organic and natural products are some products expected to escalate the global chocolate industry toward high growth rates in future. In terms of health and wellness concerns, consumers are embracing low-calorie or sugar-free chocolate products.
While global concern about obesity and wellness, manufacturers need to pay special attention to designing great tasting lower-calorie chocolate products that will keep consumers wanting more. With each generation of high-intensity sweeteners improving upon the last, reducing both the sugar and the calories in sweets has become less of a dream and more of a reality. The trend in confections is to reduce calories and reduce sugar, but one can’t be reduced without the other because sugar is where calories are, yet it is also where sweetness is. Find out how product designers are accomplishing this in the “Confections for a Slimmer Society" Slide Show from Food Product Design’s FoodTech Toolbox.
And for something a little offbeat, check out “Seeing the Light: Holographic Chocolate" to learn how food science and physics came together to make hologram chocolates out of molding technology and the properties of light.
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