The chocolate confectionery market is dynamic, with an expected worth of over $128 billion/€107 billion in global retail sales by the end of 2023, and a volume Compound Annual Growth Rate (CAGR) of 1.9 percent CAGR over the next 3 years to 2025, according to Euromonitor 2022 research. In order to meet the latest needs of consumers, manufacturers rely on innovation. Heading into 2023 and beyond, there is a hyper focus on indulgence, and the type of indulgence consumers choose depending on mood and mindset.
Leading chocolate manufacturer Barry Callebaut has taken a closer look at three different types of indulgence to find what consumers value in chocolate. This includes: Intense Indulgence, Mindful Indulgence and Healthy Indulgence.
Consumers want to indulge life to the fullest. This means over-the-top and immersive experiences. According to Barry Callebaut, 71 percent of global consumers agree that when they want to celebrate, they choose something with chocolate in it. For chocolate confectionery, this means consumers will continue to seek multi-sensoriality, exclusivity, seasonality, storytelling about origin, craftsmanship and chocolate treats that help them celebrate.
Many consumers also want to indulge without compromising their (physical and mental) well-being, the health of others or the planet. Demand is growing for chocolate treats that meet these needs, including plant-based, sugar reduced, sustainably-sourced and with traceable ingredients.
Barry Callebaut’s research found that 3-out-of-4 global consumers agree that chocolate needs to be tasty, good for the individual and good for the planet.
“While there will always be a need for Intense Indulgence chocolate experiences, we expect consumers to shift towards a more healthier approach, increasing the Mindful Indulgence chocolate space,” says Bas Smit, global vice president marketing at Barry Callebaut.
This trend is one to watch within the confectionery segment in the years to come. Consumers are actively and intentionally making choices that have a positive impact on their health. Barry Callebaut’s research showed that almost two thirds (65 percent) of global consumers would love a healthy-boosted chocolate. Macro/micronutrients such as vitamins, minerals, fibers and flavanols are being claimed on innovative, new products.
Additionally, 3-out-of-4 consumers agree that a higher cocoa content means a healthier chocolate.