The U.S. Chocolate Market, Part I
September 3, 2010
The 2009 U.S. chocolate market is considered “recession-resilient.” Chocolate sales increased 3% in 2009 over 2008. That translates into record sales of $17 billion!
Researchers predict that chocolate sales will continue to increase and could exceed $19 billion by 2014.
According to an article on www.marketwire.com, most of the 2009 growth comes from the 75% of Americans who, in spite of increases in chocolate prices, kept buying quality chocolate as an affordable treat.
The chocolate market in the U.S. is competitive, but companies that continue to offer products in the area of functional chocolate, use ingredients such as super fruits, or incorporate savory and exotic flavors will have an edge.
Trends like singe-origin chocolates and extra high cocoa content may be slowing down.
One quote from the Marketwire article really hit home with me. Don Montuori, publisher of Packaged Facts (a market research publication) says, "For many chocolate-loving Americans it's more about the experience than it is about mere consumption…”
He put into words what I have been sensing for quite some time. The chocolate consumer wants to appreciate chocolate more and the market is filling up with people who are more chocolate savvy than ever before.
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