Food Bites - Chocolate
CATEGORY ANALYSIS
BMI - Jul 17th 2011, 12:30
Growth in the speciality chocolate market was experienced across all three categories, with boxes, packets and novelty chocolates experiencing 38.5%, 16.2% and 36.3% growth respectively. The category is expected to remain stable in the medium term.
Several factors contributed to the good performance of the speciality segment:
Increased manufacturer focus on boxes and novelty chocolate due to growing demand for authentic South African chocolate in the foodservices market.
Notable growth was seen in the import market, with increased volumes seen across all three speciality chocolate categories. Some smaller local manufactures cited the increased threats of cheap imports.
New product launches in the boxes and packets categories by smaller manufactures were contributing factors to higher volume growth seen in 2010.
The pricing issue will perhaps be the biggest challenge faced by most speciality chocolate manufacturers going forward as they strive to balance the price/ quality perception of their products.
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