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Chocolate News - what's new in the world of chocolate
Our chocolate guru, Pam Williams, featured on Good Morning America.
Chocolate news that would be of interest to chocolate aficionados and industry professionals as well as the latest articles focused on chocolate and health.
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Chocolate confectionery is expected to be worth over $128 billion in global retail sales by the end of 2023, with a volume of 1.9% CAGR over the next 3 years to 2025, according to Euromonitor 2022 research. Innovation plays a key role in that growth projection to meet the latest needs of consumers, the study revealed.
Another analysis from ResearchAndMarkets.com noted that among the key factors for a strong period of trading were an increasing global population, together with changing tastes and preferences in developing nations. Furthermore, the category remains a top flavour in treating, so manufacturers and brands are taking cocoa into new formats and categories to meet this new demand. As a result, chocolate categories continue to mutate while snacking and gifting are going through a little revolution.
The research also found that among product type, dark chocolate is the fastest growing segment, which was attributed to factors including strong antioxidant content protecting against disease-causing free radicals, while flavonoids included in these chocolates aid in cancer prevention, heart health, and cognitive abilities.
"If you look at the remarkable growth trajectory of chocolate and candy over the last two years - it is absolutely quite a story. No one in my opionion in the modern history of the [chocolate] business has seen growth like this." John Downs, NCA President and CEO.
Record surge for chocolate by American consumers has pushed sales to $29bn, with retail chocolate sales climbing more than 5% a quarter, according to data in January 2022 from Chicago-based researcher IRI.
According to Dawn Foods 2022 Flavor trends, "We didn’t think it is possible for consumer to love chocolate more but turns out that they do! In in times of high stress it is not uncommon to turn to things that make us most happy."
- North America sales of chocolate is $20.7 billion annually and the #2 flavor in the market globally
- 71% of North American consumers want to try new & exciting chocolate experiences.
- 86% of Consumers claim to LOVE chocolate!
The North American (US, Canada, Mexico) chocolate market is anticipated to increase 4.7 percent by 2025, with growing demand for confectionery, particularly around seasons, and other products categories leveraging chocolate, according to Grand View Research, Inc. Rising demand for organic and high-cocoa content products are also expected to boost chocolate sales. Grand View expects dark chocolate sales to expand 7.5 percent in terms of revenue, while the gourmet sector is anticipated to increase 4.8 percent during the forecast period.
"Increased sales in Europe, the Middle East and Africa will drive $7 billion in worldwide sales growth for premium chocolate by 2022", according to a report by Technavio. Their analysts have identified "the increasing premiumization of chocolates as one of the major factors driving the growth of the chocolate market. Vendors, especially in China, India, and Brazil are offering new variety of chocolates to improve differentiation, personalization, and premiumization of chocolates. They are trying to attract customers who are influenced by ingredients, exclusivity, price, provenance, and packaging." Widening consumer interest in gluten- and sugar-free, vegan and organic varieties will also contribute to the increase.
According to Research and Markets, "The Europe confectionery market is expected to reach USD 83 billion by 2023, witnessing a stable CAGR of 3 %, during the forecast period. Confectionery consumption volume in the region surpassed 5,875 million Kg in 2017, moving at steady volume growth rate. Western Europe dominates the chocolate sale followed by central and Eastern Europe. Increased demand for higher quality cocoa products and premium chocolate accelerated confectionery sale in Europe."
Notably, their 2022 study highlighted the Asia Pacific region as anticipated as having the fastest growth rate in the coming years of 5.72% – with the Chinese market estimated to grow at a CAGR of 6.39%.
For example, in Japan, the percieved health benefits of cocoa among Japanese consumers continues to drive the domestic chocolate market, according to Euromonitor International,"The growing dark chocolate consumption by elderly Japanese consumers reflects the country’s aging population."
The Indian chocolate market is projected to register a CAGR of 8.12% during the forecast period (2022-2027) according to MordorIntellegence. The Indian chocolate market is witnessing a high demand for dark chocolates. The low sugar content in the dark chocolates is a major factor propelling the demand for them, as consumers have become aware of high sugar intake and its link with chronic diseases like diabetes. Another major factor driving the Indian chocolate market is the increase in the population of younger persons, who are the key consumers of chocolates. Currently, around half the total population of India is aged below 25 years, and two-thirds are aged below 35 years. Hence, chocolates are replacing traditional sweets in the country.
According to MarketDataForecast the Middle East and Aftrica confectionary market is growing at a CAGR of 1.91% to reach $15.63 billion by 2026. The cocoa and chocolate market has been growing at a slow but steady pace.
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Chocolate & Health
For an excellent overview about chocolate and health, watch our Chocolate Masters Hangout video
We always have a number of students interested in working with chocolate and making chocolate products that meet their dietary choices, such as organic, fair trade, sustainable and functional (i.e., low or no sugar, keto, ingredient-enhanced, raw, no GMO, gluten-free, vegan, etc.). This mirrors the global demand for specialized chocolate products that has grown steadily over the past 15 years. Those students take the recipes and formulations our programs in any direction they want or need to go. LEARN MORE...
Chocolate & Health News
Is Chocolate Good for You? NYT login may be required Full Story
These Dark Chocolate Bars Are so Satisfying, You’ll Forget They’re Fairly Healthy. Full Story
High Intake of Chocolate in Morning Helps Reduce Blood Sugar and Weight: Study
These Cacao Health Benefits Are Sure to Blow Your Mind - Cacao is one heck of a magical food. Not only is it used to make chocolate, but it's packed with antioxidants, minerals, and even some fiber to boot. (And again, it makes chocolate.) Full Story
One Surprising Effect of Eating Chocolate, New Study Says. Now, new research suggests it may help you burn more calories while sitting on the couch. Full Story
Does cocoa make you smarter: the cognitive benefits of flavanols revealed. Full Story
Consuming dark chocolate may be linked to a lower risk of depression. Full Story
Italian researchers studying chocolate and memory have found that chocolate consumption may help to improve memory and other measures of cognitive performance. Full Story
Researchers at Penn State have found that roasting cocoa beans may help to preserve nutrients and even boost the effects of some antioxidants. Full Story
Danish scientists may have found a reason for the link between reduced heart disease and cocoa consumption. Their research suggests that chocolate consumption may lower risk for atrial fibrillation or irregular heart beat that can lead to stroke, heart failure and other health issues. Full Story
Antioxidant properties of the phytochemicals found in chocolate may reduce risk of some types of cancer. Full Story
Results of a small study suggest that cocoa consumption could help to reduce risk of heart disease in post menopausal women. Full Story
Scientists starting a four year study to look at the impact of cocoa extract taken as a pill on health outcomes including heart attack and stroke. Full Story
Higher cocoa content does not necessarily mean that a chocolate bar is healthier for you. Researchers find that cocoa percentage may not be linked to flavanol content. Full Story
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