The second half of 2017 presented an optimistic scenario for Brazil’s economy in comparison with the recent years of recession. Record low inflation rates, primarily driven by deflation in food prices and raw materials, had a positive impact on foods overall.
Manufacturers responded to the economic crisis in several ways including packaging. Seeking to attract consumers back to chocolate confectionery through lower price per pack (not kg), players used smaller packaging between 2015 and 2017, especially in categories that are perceived as superfluous such as chocolate.
Higher value-added products helped drive chocolate confectionery growth in 2018. Mars Brasil Alimentos invested in a strong marketing campaign for its Snickers countlines brand, which resulted in share growth.
IBAC Indústria Brasileira de Alimentos e Chocolates Ltda, mostly known for its famous Cacau Show brand, continued to gain value share in 2018. The Brazilian chocolate manufacturer only sells its products through exclusive speciality retail stores of the same name through a franchising model that allows it to expand strongly in several regions of Brazil.
Chocolate confectionery players continue to invest in marketing campaigns to disseminate information and increase sales. With consumers becoming increasingly digitally aware, omnichannel marketing became very popular in the food industry during the review period.
Consumers increasingly prefer local, more authentic products with minimal processing and even artisanal products. This is a reflection of the global consumer trend “Sleuthy Shoppers”, which states that consumers are becoming more aware and concerned with not only the nutritional content on packaging, but also the story behind the brand and the ingredients used.
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This industry report originates from Passport, our Packaged Food market research database.