If the word chocolate has you thinking ’sweet’, or ’sinful’ think again. Words that should spring to mind are ‘dark’, ‘healthy’ or even just ‘expensive’.
A new report says that more people are buying dark chocolate because it’s associated with promoting good health, and that this segment of the chocolate market is seeing growing sales. It also finds that the chocolate market has benefited from sales in pricier products.
“The U.S. Market for Chocolate” finds that although the U.S. is a mature market, it is still expected to grow from $16 billion in 2006 to $18 billion in 2011 , helped by greater consumer interest in more expensive chocolate. Whether it’s dark, sugar-free or diet, organic, or fair trade, there’s been a general shift towards products acquiring ‘premium’ labels.
The market share for premium chocolate went up from 13% of the total market in 2002 to nearly 17% in 2006. The report forecasts that premium chocolate sales will continue to grow, cornering 25% of the market by 2011 to generate $4.5 billion in sales.
Growth in the chocolate market last year was largely achieved from increases in price rather than increases unit sales, finds the report. The trend towards higher-priced products he market and also propped up the declining sales in categories like sugar-free/diet, gift and novelty products, all of which saw steady declines in sales in 2006.
Analysts predict that high-end products, especially those which have associations with promoting wellness are likely to be the mainstay of the chocolate market. They have been quick to point out that even categories which saw a serious market downswing last year, are seeing a huge reversal of fortune - brands like Ghirardelli and Lindt which are targeting a more upscale and elitist clientele have seen phenomenal success.



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