With retail sales of chocolate confectionery expected to reach over USD 128 billion globally by the end of 2023, we learn more about the top trends shaping the market from Barry Callebaut.
Innovation
Depending on their mood or mindset, consumers have a specific attitude toward life which will determine the type of chocolate indulgence they choose. Their choice, their mood and mindset. Some consumers may prefer rich and indulgent chocolate when they are happy, while others choose lighter and healthier options when they are trying to lift their mood up. Additionally, some consumers may have specific dietary requirements or preferences that influence their chocolate choices.
That is why innovation plays a key role in that growth projection to meet the latest needs. The need to continuously explore new flavors, textures, and ingredients to meet the latest needs and demands is primordial.
Intense Indulgences a real feast for the eyes and for the taste buds
Consumers seek multi-sensory experiences, exclusivity, seasonality, storytelling and craftsmanship in the treats they choose. It is not just about satisfaction in terms of taste; it is also about engaging the other senses, such as smell, touch and sight.
They want products that are unique and not easily available, which gives them a sense of luxury and indulgence. This trend toward exclusivity has led to an increased interest in small-batch and craft chocolate, which is often made using traditional methods and high-quality ingredients.
Chocolate is often associated with celebrations and holidays thus they want products that cater to these occasions, such as gift boxes, customized chocolate and limited-edition products.
Mindful indulgence
Consumers want to indulge without compromising their physical and mental well-being, the health of others or the planet.
They want products that are made with high-quality, nutritious ingredients that can provide health benefits, such as antioxidants, vitamins and minerals. They are also interested in chocolate products that have functional benefits, such as improving cognitive function, reducing stress or promoting relaxation.
Furthermore, chocolate products need to be produced in a way that is good for the planet and the people involved in the supply chain. This includes using sustainable and ethical sourcing practices, reducing waste and carbon footprint, and supporting fair trade and social responsibility initiatives.
Healthy indulgence
Consumers want healthy indulgences: chocolates that are fortified and functional, and packed with vitamins, minerals and fiber.
While there will always be a need for intense indulgence chocolate experiences, consumers increasingly have a soft health approach to life, increasing the mindful indulgence chocolate space. Meanwhile, healthy indulgence is definitely a trend to watch within the confectionery segment in the years to come.
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