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United States Food & Drink Report Q1 2008
Business Monitor International, Feb 2008, Pages: 38
The United States Food Drink Report provides independent forecasts and competitive intelligence on the United States food and drink industry.
The premium chocolate market in the US has been growing rapidly over recent years, and manufacturers are increasingly adjusting their product portfolios to benefit from this trend. Within the sector, dark chocolate has experienced the strongest growth, owing to the health benefits attributed to its consumption.
According to figures published by AC Nielsen, the premium chocolate category in the US grew by 24% in 2006, compared with overall growth in the chocolate market of 3.9%. Thus, in November 2007, Mars Snackfood US announced that it will expand the Dove Chocolate brand with more premium varieties, including Dove Dark Chocolate with Almonds, Dove Milk Chocolate with Almonds, Dove Flavored Caramels, Dove Beautiful and Dove Vitalize. According to company spokespeople, chocolate distribution to the convenience store channel has almost doubled in the past year while, across all channels, the premium chocolate segment is experiencing double-digit growth.
Also in November, Ghirardelli added three new flavours, Midnight Reverie, Evening Dream and Mint Bliss, to its Intense Dark range with the aim to capitalise on the increasing popularity of dark chocolate in the US. According to company sources, the dark chocolate category grew 49% between 2003-2006, with 2006 sales having reached US$1.2bn. The newly launched varieties cover a range of high cacao percentage dark chocolate products, from 60-86% cacao content.
Ghirardelli spokespeople stated that, ‘while we see growth in both non-premium and premium segments, the premium dark chocolate segment demonstrates the strongest sales and share increase, as consumers recognise the quality difference among dark chocolate brands is more prominent. US consumers want to trade up to enjoy luxury versions of everyday products and are no longer content with the average chocolate product. We see the American palate changing as consumers crave not only a darker chocolate but also more sophisticated recipes.’
Other chocolate producers also continue to invest into the premium segment. Lindt USA, the US subsidiary of Swiss premium chocolate manufacturer Lindt & Sprüngli, recently expanded its US headquarters and production facilities following ‘robust year-after-year growth and increased consumer demand’. CEO Thomas Linemayr stated that he expects growth in the premium chocolate sector to continue and that Lindt is planning future expansion efforts in coming years in order ‘to accommodate the impressive growth of the premium chocolate category in the US.’
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