Consumers Seek Premium Ingredients In Chocolate

  • Monday, 08 May 2017 00:00
  • Published in Business News
  • Read 435 times

Dark chocolate is viewed by consumers as a healthier alternative to other types of chocolate.

The snacking market has been driven by consumer backlash against sugar, salt and artificial ingredients, alongside changing lifestyle and personal wellbeing, according to data gathered by Euromonitor.

The market research showed that healthy snacks sales will rise by a CAGR of three percent over 2016-2021 compared to conventional snacks, which will only increase by two percent.

“We are now seeing a movement towards healthier snacks such as yoghurt, milk drinks, energy bars and nuts, as a growing segment of the non-snack food market is rebranding itself as snack replacements,” said Lianne van den Bos, global lead analyst at Euromonitor.

The study forecasts that yoghurt and sour milk products will represent 15.8 percent of the snack market in 2021, up from 11.1 percent in 2002, while the chocolate confectionery’s share of the market will decrease from 17.9 percent in 2002 to 16.2 percent in 2021.

To change the growth trajectory of chocolate and remain relevant in the healthy snacking era, the chocolate industry is redesigning its offering from texture to flavour, and ingredients to packaging. Even though chocolate sales are declining, values still offer a huge opportunity for chocolate manufacturers.

“Before it was reducing sugar, now it is about high quality ingredients, better taste, and moderation,” said Ms van de Bos. “In fact, big successes have been booked by the sudden popularity of dark chocolate, which is positioned as a healthier alternative to other types of chocolate.”

Competing in the premium ingredients market means understanding changing consumer needs; this should take into account emotion and self-expressive benefits. Small start-ups have tapped into social trends of personal wellbeing and changing lifestyle quicker than big food companies, gaining strides in the market share.

This disrupted consumers environment is not necessarily a threat but can become an opportunity for chocolate manufacturers who embrace it and respond to evolving consumer demands.

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Asia Pacific Food Industry (APFI) is Asia’s leading trade magazine for the food and beverage industry. Established in 1985, APFI is the first BPA-audited magazine and the publication of choice for professionals throughout the industry with its editorial coverage on the latest research, innovative technologies, health and nutrition trends, and market reports.

Asia Pacific Food Industry is published by Eastern Trade Media Pte Ltd. The company owns numerous trade and consumer titles, including Asia Pacific Metalworking Equipment News and Industrial Automation Asia.

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