What you need to know
Chocolate confectionery sales are flat when adjusted for inflation. The quest for sugar reduction and a range of snack competitors has resulted in household penetration declines. Consumers who have increased their chocolate consumption attribute it to a pursuit of convenience and to a better variety of flavors. The COVID-19 pandemic will challenge some parts of the category and provide a needed boost to others. In general, consumers will turn to chocolate for familiarity and comfort, making snack size offerings a solid bet. However, strong seasonal players may see a dip, due to consumers staying home and prioritizing essentials.
Key issues covered in this Report
The impact of COVID-19 on consumer behavior and the chocolate confectionery market.
The issues to keep in mind in the event of a longer-term recession.
The important role sugar reduction will have on the category moving forward.
Perceptions of chocolate confectionery and how it is/is not meeting the needs of snackers.
This Report was written April 27 – May 10, 2020.
Definition
This Report covers chocolate confectionery products, including those in bar, bag, and box form, and those sold year-round or seasonally for holidays. Primarily this includes chocolate that is sold in grocery outlets, such as supermarkets (conventional and natural), mass merchandisers, drug stores, and convenience stores. However, the Report also covers chocolate confectionery that is sold in specialty chocolate shops operated by Godiva, Lindt, and Ghirardelli.
For purposes of this Report, Mintel has segmented the chocolate confectionery market as follows:
Bars/bags/boxes weighing 3.5 oz or more – excludes seasonal candies
Bars/bags/boxes weighing less than 3.5 oz – includes novelty candies; excludes seasonal candies
Seasonal – chocolate confections marketed for a specific holiday (eg Halloween, Easter)
Snack size – also known as fun size, sold in multicount bags/boxes
Gift boxes – a variety of chocolates packaged in a box with most or all of the individual pieces presented unwrapped; excludes gift-boxed seasonal chocolates
Sugar-free – chocolate confectionery sweetened with sugar alcohol or a sugar substitute
Value figures throughout this Report are at retail selling prices, excluding sales tax, unless otherwise stated.
