The global chocolate market has an estimated value of 2016 billion dollars in 105, with significant growth expected until 2021, according to a Technavio report.
In Romania, chocolate consumption is still at a low level compared to other European markets, namely 2,3 kg average annual consumption/person in 2016 (source: INS), but it has a substantial growth potential in the coming years.
Euromonitor's estimates regarding chocolate consumption in Romania are encouraging, talking about a value of 620 million lei at the end of 2017, with a growth rate of 3,8% expected, compared to 2016, while the growth rate at globally it is valued at 3%, according to Statista. Moreover, comparing the consumption of chocolate, candies, shit and sugary products in the first quarter of 2017 with the same period last year, we observe an increase of 8-9%, according to the INS.
Trends and opportunities
• Interest in healthy eating, along with awareness of the benefits of daily chocolate consumption, especially dark chocolate (lowering blood pressure, anti-aging and anti-stress properties), will remain key drivers for the chocolate market in the future.
• Innovation in chocolate manufacturing is a "key trend" for market growth, according to Research and Market. New flavors or additions, unique packaging formulas, various weights, etc. are solutions that could increase the attractiveness of the market.
• The seasonality of consumption is an opportunity that can be exploited by producers. During the holidays, chocolate consumption increases spectacularly. For example, in December it is 50% higher than the monthly average. Also, in the cold season chocolate consumption is higher compared to the warm months.
• Diversification of the consumer offer: electronic commerce, the adoption of new forms of presentation such as gifts (baskets, bouquets or other arrangements with chocolate) are techniques successfully practiced in other states and identified as income generators.
Average annual consumption per person, estimated for 2017
The annual per capita consumption of chocolate in Romania is low compared to other European countries, namely 2,3 kg in 2016 (according to the INS) and 2,5 kg in 2017 (according to the Statista forecast).
It should be noted that Europe is the most important consumer of chocolate, representing half of the world consumption.
Average monthly consumption and average monthly expenditure for chocolate, candies, sweets and sugary products, in 2016, per person and development regions
In the West, Center and North-West regions, chocolate consumption is higher than in the South and East of the country. The exception is Bucharest, where consumption exceeds the national average per capita consumption by 27%. It is gratifying that in the regions of the south of the country a constant increase in consumption has been noted in the last two years.
In the Center region, the consumer prefers top products, for which he is willing to allocate larger amounts, the average monthly expenditure per hundred grams being 2 lei, the highest in the country. A similar trend was observed in the case of bakery products.
For the first quarter of 2017, there was an increase in consumption of 7,6% compared to the same period last year and a value increase of 8,91%. More pronounced growth was recorded in the West, North-East and South-East regions.
What is the favorite chocolate of Romanians
What types of chocolate do Romanians choose?
Chocolate consumption increased by 9% in 2016 compared to the previous year, according to Nielsen. Milk chocolate, in tablets, is the most sought-after variety in recent years. But, although "the market of chocolate tablets remains dominated by milk chocolate, a segment that has had a constant growth in recent years is that of bitter chocolate", says Ioana Marica, Brand Manager Heidi Chocolate.
Regarding the composition, Romanians prefer, in similar proportions, both chocolate with additions and plain or with filling. Slightly different preferences compared to the European consumer who appreciates plain chocolate in a proportion of 44%, a third the one with additions, and chocolate with filling is chosen by only 19% of Europeans.
Segmentation by chocolate type and composition
Which chocolate products did Romanians choose in 2016
Tablets and bars are in the first two places in the consumption preferences of Romanians, but their market has reached the stage of maturity, registering a slower growth. A development solution would be innovation: new flavors, other additions or combinations.
Pralines represent an opportunity and a challenge for manufacturers. The significant market share that they occupy, especially in terms of value, as well as the marked increasing trend recorded, confirm that pralines are a segment with potential for development in the premium category. They can be sold both for own consumption and to be given as gifts.
The figurine market is seasonal, having spectacular increases during the holidays.
Low-weight products (miniatures) represent an opportunity, the demand for these products increased a lot last year, they represent a solution that meets the requirements of daily consumption.
The increase in chocolate consumption in 2016 compared to 2015 (• volumes / • values)
Where was the chocolate bought in 2016
From the point of view of the place of purchase, the orientation of the buyer towards proximity is obvious. Independent retail accounts for 33% by volume and 38% of total category sales, up 7% in volume and 6% in value over the previous year. The best performance was recorded by supermarkets – with a 20% increase in volume and 16% in value – followed by discounters. Conversely, the evolution in the case of hypermarkets was negative.
Distribution structure
Cecilia Florescu, Nova Pan marketing specialist
