Monday August 30, 2010

U.S. Chocolate Sales To Reach $19B By 2014

New York — Demand for chocolate is expected to rise through the next several years, and U.S. chocolate sales are predicted to exceed $19 billion by 2014, research shows.

Packaged Facts reports demand for premium chocolate will persist, especially as the economy recovers, with a healthy chocolate trend fueling the market. Data shows sales of chocolate products in the U.S. reached $17 billion in 2009.

As U.S. consumers look for new chocolate experiences, premium chocolatiers are developing layers of flavors and textures to match consumer moods, according to Don Montuori, publisher of Packaged Facts.

The market is willing to innovate, he says, adding: “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.”

The researcher claims innovation is an important element when marketing to notoriously brand-averse and highly skeptical consumer segments such as Millennials, for whom product preference is a moving target. For this group, eating is about culinary experimentation with limited edition flavor items and internationally inspired twists.

Not only must marketers realize the potential of online social networks as influential, but chocolate suppliers must provide consumers with confectionery products featuring fresh, seasonal and natural ingredients, the researcher asserts.