The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreSep 2015
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At the core of marketing snacks is predicting how consumers will respond to different stimulus. How will endorsement help raise sales? What effect does buying chocolate in a boutique vs supermarket have on quality perception? This briefing pinpoints different price platforms within chocolate confectionery and evaluates performances in terms of brands. This briefing uses unique data generated for Packaged Food and is the first to demonstrate insights using the new Packaged Food Forecast Model.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Income elasticity of chocolate has a strong inverse correlation with income per capita. Value-led growth strategies in chocolate have to be extremely mindful of potential negative income shocks in emerging markets (e.g. Bolivia), as they have a much bigger overall impact on chocolate consumption than in richer countries (e.g. Denmark).
To offset volume falls in developed markets as well as rising input costs, premiumising chocolate confectionery can help protect margins. However future demand drivers of chocolate confectionery differ substantially by country and therefore suggest varied strategies. Analysis by price platform reveals that premium brands have outperformed the market in the US and the UK.
Euromonitor’s packaged food forecast model shows that in developed markets such as the US, Japan and the UK, chocolate demand will mostly be affected by ‘soft drivers’ such as marketing activity, product innovation and changing consumer tastes/lifestyles. Creating brand loyalty through a global brand is therefore key as consumers in these markets are more susceptible to the marketing environment.
Premium brand perception is influenced by price, packaging, ingredients, provenance, point of purchase and brand experience. For example, a premium perception can be amplified by purchasing chocolate in a boutique (e.g. Lindt) versus a supermarket (e.g. Mars bar). In order to premiumise a chocolate brand, the marketing mix should be adjusted accordingly.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.