New varieties set to grow chocolate market
Consistent introduction of new varieties and flavours has led to the gradual growth of the global chocolate market, which is expected to post a CAGR of 5.02% from 2015-2019, says research firm Technavio.
According to its latest report, new products have been introduced by chocolate vendors to cater to the changing needs of consumers worldwide.
“Chocolates are offered in many exotic flavors like yogurt, lemon, orange and even milkshake. Chocolate covered potato chips are becoming popular in China and Japan and fruit ingredients like strawberry, raspberry, cherry and peach are also being seen more often,” says Faisal Ghaus, vice president of Technavio.
The Technavio report emphasises the rise in demand for more health conscious products. Stevia-based chocolate products are becoming popular and dark chocolate has also seen a resurgence.
“The health benefits associated with dark chocolate are one of the factors contributing to growth in the chocolate market,” says Ghaus. “Dark chocolate is a good brain food and is more tooth friendly than other types of chocolate. The cocoa flavanols present in the chocolate are believed to improve cardiovascular health, which is making it more popular among consumers.”
