Market Trends of europe chocolate Industry
The strong production capacity of chocolates in European countries supported the chocolate industry’s growth
- Europe was responsible for processing 35% of the world’s cacao and consuming 45% of the world's chocolate consumption in 2023. The average Swiss individual consumes about 20 pounds of chocolate annually, making Switzerland the country with the largest per capita consumption of chocolate in the world in 2023.
- While making purchases, a variety of customer sectors look for high-quality labels like organic production, ethical production (like Fairtrade), sustainable sourcing, and Rainforest Alliance certification. Manufacturers in Brazil also use additional characteristics for greater distinctiveness, such as antioxidant content and type of cacao.
- Price fluctuations in the chocolate industry majorly depend on the price changes in raw materials such as cocoa, sugar, and dairy products. Consumers are cutting back on chocolate due to the cost-of-living crisis in Europe. About 40% of Britons traded down to cheaper products in both snacks and confectionery in the four to six weeks ended mid-May 2022.
- In Europe, the consumption of chocolate is generally viewed from a health perspective with a mix of opinions. For instance, 73% of the population favors milk/plain type of chocolate, whereas dark chocolate accounts for around 70% of all chocolate consumed in Switzerland.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Growing demand for high percentage cocoa chocolates drives the sales growth of the segment
