Chocolate confectionery is expected to record growth at constant 2018 prices, albeit moderately, over the forecast period, whereas retail volume sales are expected to decrease at a marginal CAGR. Swiss consumers of chocolate confectionery are expected to opt for higher-quality chocolate, although they are expected to purchase it in smaller amounts.
Higher-quality chocolate and the development of new products are likely to be seen over the forecast period. Chocoladefabriken Lindt & Sprüngli, Migros Genossenschaftsbund, Nestlé Suisse and other major players will continue to introduce new products into the premium segment.
Impulse items such as countlines will continue to post the strongest performances over the forecast period, benefiting from the convenience factor and the snacking trend. In stores, impulse items are a win-win for consumers and manufacturers alike, as for the consumer they are often cheap, convenient and can be consumed very quickly after purchase and for the manufacturer represent a source of high margins; however, over the forecast period it will become increasingly difficult for manufacturers to motivate consumers to buy their products impulsively.
Migros Genossenschaftsbund is expected to remain the leading company within chocolate confectionery over the forecast period and will continue to experience success with Frey, its private label line, particularly with consumers wanting affordable prices but good-quality products. Through its Frey brand, the manufacturer and retailer will continue to offer a wide range of chocolate confectionery covering all price groups, from economy to premium.
The second-ranked player, Chocoladefabriken Lindt & Sprüngli, is well known for its premium quality. The company is expected to continue capitalising on the ever-growing popularity of premium chocolate and will continue to position itself as the specialist in “degustation” tablets.
With chocolate confectionery facing increasingly intensive competition within snack-orientated purchases, innovation is key to sustaining growth. In September 2017, Barry Caillebaut and Nestlé Suisse launched Ruby Chocolate, a variety of chocolate made from the ruby cocoa bean, which is naturally pink in colour.
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This industry report originates from Passport, our Packaged Food market research database.