By Sarmind Safi
Niell Barston from Euromonitor says European countries are leading the way for spending on chocolate this Christmas with many of them experiencing a delicious upturn in the sale of chocolates.
Studies from the research group have found that Switzerland is leading the way in its average seasonal treat consumption in 2023. It has managed to upturn $48 per person which is followed by $28 in the US and $18 in Belgium, and $17 in Germany. SWiss chocolates are leading the pack for consumption per capita.
As Confectionery Production reported there has been a strong festive sales of chocolate confectionery within the UK. It has been driven largely by the ongoing cost of living crisis which has led to the influx of choosing less costly gifts while facing the inflated costs for food across all categories including sweets and snacks. There is also the added pressure of personal household bills.
Carl Quash III, Head of Packaged Foods, Snacks and Nutrition, at Euromonitor International, said: “When it comes to seasonal chocolates, Europeans consume and spend more than any other region around the world. Whether for stocking fillers, warm winter treats or a coffee companion, chocolate can be seen in high demand around Christmas.”
He added, “Nearly half of European consumers believe it is important to spend money on experiences. Snacks will be finding their way around this holiday season as part of gift exchanges, office parties, city holiday events and more.”
“Europe appears to be entering a period of easing economic pressures allowing consumer goods companies to bring down prices – right in time for Christmas. This should benefit seasonal candies and other snack categories as consumers’ pocket will have that additional stretch,” Quash explained.
The research group also noted that major brands appeared to be in a sweet deal when it came to market share especially with regards to boxed chocolates. Hershey’s has 8% of the market, Lindt at 6.9%, Reese’s with 5.6%, and Cadbury with 4.6%. This proved that the general trend with consumers was that they had given up on their diets and are regarding Christmas as the time to indulge.
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