Boosted by cocoa
Although the food inflation in Hungary has eased by now, the global cocoa market is still demand-driven. This predicts that the end-of-year festive season’s star sweets, Santa Claus figures, Christmas candies, and other seasonal chocolates will be more expensive than last year.
This article is available for reading in Trade magazin 2024/8-9
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Pál Molnár
commercial director
Szerencsi Bonbon
“Even though there has been some correction in the market, currently you can still purchase cocoa at 3-4 times the price of January 2023. The pricing of premium products is heavily influenced by the raw material: the more cocoa there is in them, the bigger the price impact”,
says Pál Molnár, commercial director of Szerencsi Bonbon Kft.
Consumer price sensitivity has also increased here, just like the weight of promotions – this could be a decisive factor in the end-of-year season.
Christmas candy in the spotlight
In 2024 Szerencsi considers Christmas candy – which became a Hungaricum this year – to be of particular importance, focusing on this segment as the company expects further growth here. In the chocolate category Retro products will remain unchanged, but Szerencsi is entering the market with a completely new portfolio in the premium segment. This will include new flavours and the launch of a new sub-brand, called Bogyó&Babóca. A large proportion of Szerencsi chocolates will be milk chocolate instead of the formerly dominant dark varieties. The premium segment can be divided into cream and marzipan offerings, with a clear distinction between the two in terms of flavours and graphics.
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The pricing of premium products is largely influenced by ingredient prices: the more cocoa they contain, the more heavily
The end of the year is about quality
Szamos Marcipán performed well at the end of 2023: sales of its seasonal products, especially Christmas candies and gift packs, were slightly above the target.
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Zsolt Farkas
head of sales and marketing
Szamos Marcipán
“It was still noticeable that some consumers bought less in volume but more from the premium category, where Szamos products are present”,
says Zsolt Farkas, head of sales and marketing at Szamos Marcipán Kft.
Szamos has also been forced to increased prices because of the elevated shipping and packaging costs, higher labour costs, and the repeated surges in raw material prices. Innovation is a necessity because it can greatly contribute to further development.
This is also the case at Szamos, because in this year’s seasonal selection – besides the renewal of every Christmas candy packaging – the company will put new flavours on the market. These new flavours include Szamos pistachio Christmas candy, Szamos Törley champagne cream selection Christmas candy, Szamos honey-orange praline Christmas candy, plus new flavours will be added to the range of Szamos pralines without added sugar.
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Year-end holiday star sweets and seasonal chocolates will be more expensive this year
Specialities are the winners
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Péter Csóll
owner-MD
Stühmer
Stühmer Kft. also had a successful season at the end of 2023.
“At the moment we see growth in the chocolate market even it is very small, but we expect a more pronounced growth on the sales side towards the end of the year. Even if prices continue to rise despite the fall in inflation”,
says Péter Csóll, owner and managing director of Stühmer Kft.
Last year the company’s “star products” were clearly Stühmer Christmas candies, especially the special flavours. The brand’s buyers are open-minded, actively searching for special flavours and brand innovations. Stühmer will keep strengthening the Christmas candy portfolio: while keeping the traditional and popular flavours, they will develop new special flavours – but for the time being the details remain a surprise.
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This season, it’s not just the price per kilo that competes – but also the price points, the psychological limits
Chestnuts are becoming trendy
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Gergely Rimár
managing director
Prima Maroni
The end of the year isn’t just the season for chocolate products – the winter months also usher in a surge in the consumption of chestnut products. Chestnuts are becoming more popular with consumers, for instance because they are allergen-free, can be eaten by people with lactose and gluten intolerance, and contain good carbohydrates. In this segment the leading brand is Maroni. Gergely Rimár, managing director of Prima Maroni Kft. informs us that the chilled chestnut bars Geszti Eszti and Gesztenye Marci are more and more successful in the market.
“Maroni Fehérarany Chestnut Purée has been one of the most popular chestnut purées for 30 years, and sales have been steadily growing in recent years. Purées made with sweetener and chilled purées also performed very well last year: chestnut purées are our fastest growing segment”,
informs the managing director.
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Chestnuts are becoming increasingly popular with consumers because, among other things, they are allergen-free, can be eaten by those with lactose and gluten intolerance, and contain good carbohydrates
//
Premium cakes in a festive dress
Our company mainly produces premium quality butter pastries and linzers. We make sure to purchase our ingredients from local sources, as we like to work with reliable Hungarian producers. We have recently published our first festive catalogue, with a wide range of gift ideas for companies and executives.
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Kolos Kelényi and Zsuzsanna Kelényi-Kovács, owners of Tutti Biscotti
The Szamos catalogue presents the most delicious festive pastries in imaginative combinations. We can create and put a festive dress on the most delicious baked goods, but a personalised message can also be displayed on them. //
Christmas 2023
NIQ’s Holiday Outlook study analysed how global consumer habits changed over the festive season in 2023.
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Guest writer:
Dominika Pataki
junior analytic insights associate
NIQ
The research found that only 16% of consumers planned to increase their holiday spending and 84% wanted to spend the same or less than they did last holiday season. Still, Christmas is the time when premium products really take off and the market of seasonal chocolates reached HUF 8bn in value sales between November and December 2023, up 6% on the previous season. However, the NIQ retail index recorded a 4% decline in volume sales. In the two months under review manufacturer brands generated 90% of value sales. Value sales of these grew by 7%, but there was a 3% drop in volume sales if compared to the 2022 Christmas season. Private label sales decreased by 3% in value and 9% in volume.
Santa Claus reigns
Just like in the year before last, chocolate Santas accounted for more than half of the value sales of seasonal chocolates, followed by chocolates in seasonal wrapping with a 13% market share and advent calendars. In terms of value Santa-shaped chocolate figures were the biggest winners, with sales up by around 10%. Unflavoured seasonal chocolates represented 71% of value sales. Milk chocolate dominated, realising 90% of value sales in the given period, up 1 percentage points on the previous period. The second best-selling type was milk and white chocolate with a 4% share, and dark chocolate was third with 2.5% of the market. As for pack sizes, shopper demanded was the biggest for 51-100g chocolates, which had 40% of the total seasonal confectionery market. Within the confectionery category, only the biscuits segment – the second largest in terms of sales in the category – could grow in both value and volume (although volume sales increased by only 1%). //
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