Polarisation is being seen between low-cost private labels and the premiumisation of brand, based on how the household budgets of the consumer audiences have been shaped in the recent years. It is noted that the event of COVID-19 formed consumers into “COVID-winners” and “COVID-losers”.
As per the polarisation trend outlined above, private labels are also expected to gain in popularity among price-sensitive consumers over the forecast period, as they offer a good price-to-quality ratio. Private label players are also boosting this with promotional tactics, for example Lidl gives free chocolate tablets to customers for their birthday.
Environmental changes and global warming are expected to result in disruptions in the confectionery industry over the forecast period. For example, changes in the water cycle; reduction in arable land as raw materials become increasingly difficult to produce; and the price of raw materials (sugar, cocoa, coffee, vegetable oils) are also hitting the confectionery industry.
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Understand the latest market trends and future growth opportunities for the Chocolate Confectionery industry in Hungary with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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This is the aggregation of tablets, countlines, bagged selflines/softlines, boxed assortments, seasonal chocolate, chocolate with toys, alfajores and other chocolate confectionery. Note that chocolate overtly positioned for baking/cooking purposes is excluded from Euromonitor International's confectionery coverage.See All of Our Definitions
This report originates from Passport, our Chocolate Confectionery research and analysis database.
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