Cocoa prices surge, chocolate munching still rises
Monday, 28 December 2009
CHICAGO, Dec 27 (Commodity Online): Prices of cocoa, a key ingredient that gives the distinct flavour and taste to chocolates may be soaring through the roof but that hasn't affected chocolate sales in some unexpected nations not known for heavy consumption of the sweets. And just in time for seasonal festivities, Mintel, a leading global provider of market intelligence on consumer, product and media reported that chocolate sales around the world have busted through the recession...and likely our belts as well!
"It's clear that despite economic trouble this year, the world's chocolate lovers didn't deviate from their favorite treat. Chocolate is a small, affordable indulgence for shoppers who are cutting back on spending elsewhere. Even in countries not known for chocolate consumption, sales are on the rise"
In China and the Ukraine-two countries not necessarily recognised for their rampant chocoholic populations - chocolate confectionery sales rose 18 per cent and 12 per cent, respectively, this year. Each country has seen steady sales increases since 2005 and Mintel predicts continued growth through 2013.
Other countries have also seen chocolate bars, bags and boxes flying off the shelves, albeit at lower rates. Brits drove their chocolate market up 5.9 per cent this year, while Americans purchased 2.6 per cent more chocolate than in 2008. Argentinean sales rose 1.8 per cent from 2008, while in Belgium, a country that claims to produce some of the world's best chocolate, sales increased by 3.2 per cent.
"It's clear that despite economic trouble this year, the world's chocolate lovers didn't deviate from their favorite treat. Chocolate is a small, affordable indulgence for shoppers who are cutting back on spending elsewhere. Even in countries not known for chocolate consumption, sales are on the rise," comments Marcia Mogelonsky, global food and drink analyst at Mintel.
"It's clear that despite economic trouble this year, the world's chocolate lovers didn't deviate from their favorite treat. Chocolate is a small, affordable indulgence for shoppers who are cutting back on spending elsewhere. Even in countries not known for chocolate consumption, sales are on the rise"
In China and the Ukraine-two countries not necessarily recognised for their rampant chocoholic populations - chocolate confectionery sales rose 18 per cent and 12 per cent, respectively, this year. Each country has seen steady sales increases since 2005 and Mintel predicts continued growth through 2013.
Other countries have also seen chocolate bars, bags and boxes flying off the shelves, albeit at lower rates. Brits drove their chocolate market up 5.9 per cent this year, while Americans purchased 2.6 per cent more chocolate than in 2008. Argentinean sales rose 1.8 per cent from 2008, while in Belgium, a country that claims to produce some of the world's best chocolate, sales increased by 3.2 per cent.
"It's clear that despite economic trouble this year, the world's chocolate lovers didn't deviate from their favorite treat. Chocolate is a small, affordable indulgence for shoppers who are cutting back on spending elsewhere. Even in countries not known for chocolate consumption, sales are on the rise," comments Marcia Mogelonsky, global food and drink analyst at Mintel.