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The U.S. chocolate market is a mature, differentiated and exacting market, which makes distinguishing yourself a challenge to marketers of chocolate products. Packaged Facts’ new report, The Chocolate Candy Market in the U.S.: Trends and Opportunities in Premium, Gourmet and Mass Market Products examines the current state of the industry and how the market will evolve over the next five years.

Chocolate marketers today are drawing inspiration from other segments of the food and beverage industry in an effort to boost sales - witness chocolates that feature super fruits, functional ingredients, savory touches and ethnic flavors. And chocolate product trends that worked in the past - single-source cocoa, high cocoa content, for example - may not be effective techniques for driving sales in the future.

Written by veteran chocolate market analyst Curtis Vreeland, The Chocolate Candy Market in the U.S. looks at the myriad factors affecting chocolate retailing and consumption. For example, the report examines:

• What impact has the recession had on this $17.3 billion industry?
• How has product development changed to reflect evolving consumer taste buds and budgets?
• What constitutes “premium” and “gourmet” products in the chocolate market today?
• Have consumers changed their buying habits in the face of economic uncertainty?

Report Methodology

The Chocolate Candy Market in the U.S. measures the size and overall growth factors of the U.S. chocolate market, based upon the latest IRI, SPINS and UNFI sales volume data. It discusses in detail how major chocolate manufacturers are structuring their new product development and marketing initiatives to stay on top of this market. The report also describes specific trends and opportunities that support continued market growth, drawing on the latest Product Launch Analytics data on new product claims. Other topics include retail trends and consumer buying behavior. Detailed consumer profiles of key demographics, including breakouts by gender, race/ethnicity, and household composition, are provided, based on proprietary online consumer surveys and Experian Simmons data.

This report will help:

• Marketing Managers identify market opportunities and develop targeted promotion plans for chocolate.
• Research and development professionals stay on top of competitor initiatives and explore demand for products in the chocolate arena.
• Advertising agencies working with clients in the food industry understand the product buyer to develop messages and images that compel consumers to purchase these products.
• Business development executives understand the dynamics of the market and identify possible partnerships.
• Information and research center librarians provide market researchers, brand and product managers and other colleagues with the vital information they need to do their jobs more effectively.

Additional Information

Market Insights: A Selection From The Report

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Packaged Facts identified eleven active trends in the premium chocolate market:

• Craft chocolate making: This segment has several names: craft, bean-to-bar or micro-batch chocolate. In a sense, this trend follows precedents established
  elsewhere in the gourmet food world, where craft beers and specialty coffees helped jolt a commoditized product into another dimension of exciting differentiation.
• Savory-inspired flavors: Savory flavors, a cross-over from the culinary scene, started appearing in chocolate several years ago. Now, chocolatiers are experimenting with adding such kitchen cabinet ingredients as olive oil, bacon, cheese, curry and chipotle into their bonbons and truffles.
• Exotic flavors: Premium chocolatiers are setting off on culinary adventures, discovering new layers of flavor and textures. Some are experimenting with umami flavors; others are developing products to match consumers’ moods. Why? As Bissinger’s chocolatier Terry Wakefield explained, “People are wild about ‘experiences’ rather than...
  

Distribution Channel Issues

Chocolate is sold in dozens of venues from push cart peddlers clustered around tourist attractions to exclusive Madison Avenue boutiques. Not surprisingly, the traditional IRItracked FDM channels, whose figures are widely quoted in the press, account for only 30% of retail sales. Nearly 43% of chocolate sales occur in the non-traditional channel, the largest component of which is specialty chocolatiers (e.g., Godiva, Sees, etc.), estimated James Corcoran, NCA’s former VP of Trade Relations in an interview with Packaged Facts. The next largest component is cash-and-carry vendors (e.g., bodegas, wholesalers, fund raisers, etc.). Chocolate is also merchandised at military PXs and on the Internet.

Chocolate Market Size & Growth

Chocolate’s recession-resilience may be due to its “lipstick factor.” Economists have noted that lipstick sales tend to rise during economic recessions, as the relatively inexpensive purchase goes a long way to cheer women up. Eating chocolate might have the same affect. When times get tough and household budgets turn frugal, spending a few dollars on a good bar of chocolate becomes a terrific way to leverage a piece of indulgence. Packaged Facts forecasts the U.S. chocolate market will increase an average 3.0% per annum through 2015, when sales will top $19 billion, up 10.4% from $17.3 billion in 2009. Below the surface, however, there will be sales currents that will favor some categories over others.

In The News

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Recession-Resilient U.S. Chocolate Market Reaches Record Sales in 2009 as Premium and Innovative Ingredients Pique Consumer Interest

New York, August 26, 2010 — The U.S. market for chocolate products displayed its recession resiliency, as retail sales increased 3% from 2008 to reach a record $17 billion in 2009, according to Chocolate Market in the U.S.: Trends and Opportunities in Premium, Gourmet and Mass Chocolate Products by market research publisher Packaged Facts. The growth was attributed to the 75% of Americans who have purchased chocolate products since 2008 and increases in manufacturer prices, which didn’t discourage budget-conscious households from buying quality chocolate as an affordable indulgence.

Global demand for chocolate is expected to rise over the next several years, as the market capitalizes on chocolate’s incredible ability to shapeshift into an array of products suitable for the confectionery, beverage, restaurant, hospitality and personal care industries. Packaged Facts forecasts the U.S. chocolate market will exceed $19 billion in 2014. The demand for premium chocolate will persist as a leading growth trend, especially when the economy recovers. The healthy chocolate trend, featuring “better-for-you” ingredients such as lavender and blueberry, is likewise expected to fuel the market as a subset of product premiumization.

“For many chocolate-loving Americans it’s more about the experience than it is about mere consumption. To meet this demand, premium chocolatiers are setting off on culinary adventures, discovering new layers of flavor and textures by experimenting with umami flavors or developing products to match consumers’ moods,” says Don Montuori, publisher of Packaged Facts. “This may be a mature market, but it’s also a market that isn’t afraid to innovate, whether that means using savory influences such as bacon and cheese or ethnic flavors such as curry and chipotle. This bold creativity effectively provides chocolate products that satisfy diverse consumer palates at reasonable prices.”

Creativity is particularly important when marketing to notoriously brand-averse and highly skeptical consumer segments such as the Millennials, for whom product preference is a moving target and eating is all about culinary experimentation with limited-edition flavor items and internationally inspired twists. Not only must marketers realize the potential of online social networks as vehicles of influence comparable to conventional media channels, but chocolate manufactures must provide this cohort with confectionery products featuring fresh, seasonal and natural ingredients and out-of-this-world flavor combinations, such as those developed by the beverage and restaurant trades.

Chocolate Market in the U.S., written by veteran chocolate market analyst Curtis Vreeland, examines the myriad factors affecting chocolate retailing and consumption. The report measures the size and overall growth factors of the U.S. chocolate market and discusses in detail how major chocolate manufacturers are structuring their new product development and marketing initiatives to stay on top of this market. In addition, the report describes specific trends and opportunities that support continued market growth. Detailed consumer profiles of key demographics, including breakouts by gender, race/ethnicity, and household composition are also provided.

About Packaged Facts - Packaged Facts, a division of MarketResearch.com, publishes market intelligence on a wide range of consumer market topics, including consumer goods and retailing, foods and beverages, demographics, pet products and services, and financial products. Packaged Facts also offers a full range of custom research services.

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