Hunger for chocolate on the rise

December 27, 2010
Written by Scott Simpson
Dec. 28, 2010 - In a recent article in the Vancouver Sun, Scott Simpson talked to area businesses who are cashing in on chocolate. The story reports that more people are seeking out unique and authentic chocolates from local shops. Simpson spoke with Curtis Vreeland, a U.S. food industry consultant who says that the fine chocolate segment of the chocolate industry is growing twice as fast as the market as a whole and these U.S. trends are reflected in Canada.

Vreeland told the Vancouver Sun that the U.S. premium chocolate market was $2.1 billion to $2.4 billion in 2009 and accounted for 12 to 14 per cent of the total chocolate market. This was an increase of nine per cent from 2005. Vreeland predicts that within five years, the market share held by premium chocolate will increase to 17 from 15 per cent and generate between $2.8 billion to $3 billion in sales.

The article also noted a few things to keep in mind with the fine chocolate product segment. Buyers, who tend to be younger and more educated than the average chocolate consumer, are typically sensitive about nutrition and like to avoid artificial ingredients. They’re also adventurous and willing to try new things.

Click here to read the full story.

 

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