Greenhouse Canada

Features Business Trends
Hunger for chocolate on the rise


December 28, 2010
By Scott Simpson

Topics

chocolateNEWS HIGHLIGHT

Hunger for chocolate
on the rise

In a recent article in the Vancouver Sun, Scott
Simpson talked to area businesses who are cashing in on chocolate. Scott
reports that more people are seeking out unique and authentic chocolates from
local shops.

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.

Advertisment

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.