Market Trends of Premium Chocolate Industry
White and Milk Chocolates are More Popular than Dark Variants
The growing popularity of white chocolates can be attributed to the increasing premiumization trend and their rich, soft, and creamy texture from their cocoa butter base and high sugar and milk content. White chocolate does not contain any cocoa solids. According to the US Food and Drug Administration (FDA), white chocolate must contain at least 20% cocoa butter, 14% milk, and no more than 55% sugar. Its mild flavor and creamy texture make white chocolate a versatile ingredient in baking, confectionery, and desserts. Launching new and healthy products with low sugar content is one of the prominent growth strategies of the leading market players operating in the premium chocolate market. They introduce different flavors by adding ingredients like vanilla, fruits, nuts, or spices, expanding the range of options and appealing to diverse tastes. For instance, in June 2022, Cadbury launched its first white chocolate bar, the Berry Crunch White Chocolate Bar. The product has 30% less sugar than regular bars.
Europe Dominates the Market
Premium textured chocolates added with grains or cereals are the most popular type among Europeans. The United Kingdom is one of the most significant chocolate-consuming markets in Europe. Although plain chocolate appears to be the most popular choice, premium chocolates are gaining traction, with consumer preference growing toward premium dark chocolate. Packaging is also important when selecting carefully packed premium chocolates as gifts for special occasions. The growing popularity of gourmet chocolates prepared from ultra-fine cocoa beans is augmenting the growth of premium chocolates in Germany. Moreover, consumers are becoming increasingly health conscious, thus opting for premium products branded as organic, natural, cacao-rich, and single-origin. Furthermore, players are indulging in partnerships to support sustainability. For instance, Belgian premium chocolate brand Guylian allied with Fairtrade to convert 100% of its cocoa to align with the ethical movement for sustainability in 2022.
