Chocolate Industry

Chocolate Industry

Introduction

Chocolate is extremely famous for the different purposes like giving gifts, cooking, and for individual consumption. Because of its demand small businesses are focusing on rendering the items that are made up of chocolates. In 2010, there are many trends that drive the chocolate industry to grow. One of the trends is product innovation, according to research this year the product innovation in the chocolate industry has increased by 16%. The UK market for chocolate and sugar confectionery is mature, growing on average by 2% per annum from 2000 to 2009, and is expected to be worth £8.8 billion in 2010.Chocolate and sugar confectionery products are usually readymade for consumption. This is why households represent the biggest buying group, accounting for 77% of the market's size in 2009. Another major buyer is B2B, which includes the retail trade and restaurants and bars, with each accounting for 3-4% of total sales in 2009. Marketing of chocolates in unique manner is the utmost priority of any company to outshine others. Therefore, a marketing plan is being constructed.

Discussion

A chocolate is a confectionary which is often packaged in a form of long bar or just a small bar. At the time of sale, the purpose of some chocolate companies is to provide nutritional supplements to its customers. These chocolate bars are enriched in vitamins and proteins as they struggle to retain their sweetness.

Macro Trend Analysis

Growth Rate

In the next five years, chocolate dominance will continue. A quarter of the market is dominated by chocolate industry. The changes in the growth of product from 11.5% in 2010 to 13.4% in 2011is a forward prospect and effective concern for the fiscal year 2012, as measures show that the chocolate industry will attain further growth (Walker, 2011). Moreover, the good point here is that the attractiveness ...