’Tis the season for Chocolate. Christmas sales on the up: Euromonitor International expert

Switzerland (USD48), France (USD27), Ireland (USD24), Belgium (USD18) and Germany (USD17) are forecast to be the top five countries globally with the biggest average per person expenditure on seasonal chocolate in 2023.

The biggest markets for seasonal chocolate in retail volume terms in 2023 are forecast to be Western Europe (271 thousand tonnes, USD6.2billion), North America (156 thousand tonnes, USD4.4billion) and the USA (USD3.9billion). The Middle East and Africa (4.8%) and Eastern Europe (4%) are forecast to see the largest growth.

Countries leading the charge for growth are Peru (6.1%), Poland (5.7%), Slovakia (5.4%), South Africa (5.4%) and Bulgaria (5.3%).

Hershey’s, Lindt, Reese’s and Cadbury are titans of the chocolate world: Hershey’s (8%) is top, followed by Lindt (6.9%) and Reese’s (5.6%) in third. Cadbury’s is in fourth place (4.6%).

More consumers have given up dieting and many see Christmas as a time to indulge

Carl Quash III, Head of Packaged Foods, Snacks and Nutrition, at Euromonitor International said: “More consumers have forsaken calorie counting, tracking intake and dieting in general this year with other concerns to prioritise. This year’s winter holidays are going to be a time where consumers allow themselves to indulge.

“About one in 10 European consumers typically snack to treat themselves. Snacking is one of those harder to avoid habits during Christmas with enticing treats and the contagious seasonal spirit all around.

Chocolate addicts want variety and are also looking to match taste with value. Quash III said that with the diverse nature of groups’ food preferences during holiday gatherings, it is important to offer variety. Variety packs, bulk offerings, and mixes are all ways for manufacturers to deliver.

In 2021, the seasonal chocolate market grew by 4.2% in retail value. The market recovered after Covid-19 when there was a decline of -4.6% in retail value in 2020. It is expected that in 2023 the market will grow by 0.2% in retail value terms surpassing 575 thousand tonnes and reaching a retail value of USD15.2 billion in 2028.

Euromonitor International