Sensory and indulgence demands underpin chocolate NPD; however, changing consumer needs and an growing market competition are creating new innovation opportunities, which is driving the segmentation of the chocolate category by style and price.
Despite difficult market conditions, there have been high levels of innovation in the chocolate category, which has evolved in line with consumers' complex and dynamic needs. This brief outlines the most important consumer and product trends impacting the chocoalte category globally, using Datamonitor's TrendSights mega-trend framework as a basis to organize the key themes covered.
FEATURES AND BENEFITS
- Each section is introduced with a concise SWOT analysis that outlines how each TrendSights mega-trend can be applied to the chocolate category
- Consumer insight analysis covering 20 countries globally highlights the key attitudes and behaviors that drive consumers' chocolate preferences
- Draw inspiration from numerous case studies and product examples throughout the brief that showcase best-in-class innovations in chocolate
- New product opportunities are spurred by consumer demand for more unique and novel product flavors. Nearly three-quarters of consumers claim to experiment by trying new foods "all" or "most of the time". Chocolate products can capitalize on consumers' willingness to experiment through new product development.
- Consumers demonstrate a desire to return to a time when life was simpler and less demanding. Indeed, nearly half of global consumers said that they prefer product simplicity to having multiple benefits.
- Brands can look to promote the realness and wholesomeness of product ingredients to convey authenticity and resonate with those seeking comfort and simplicity.
YOUR KEY QUESTIONS ANSWERED
- How do Datamonitor's mega-trends apply specifically to chocolate? How is this likely to evolve over the next few years?
- Where is innovation occurring in the chocolate category and what does it look like?
- Is sustainable packaging a "nice to have" or a "must have" in the chocolate space?
- What are the opportunities and challenging in the functional chocolate space?
- How are industry players using the online space to more effectively engage with consumers?
ABOUT THIS RESEARCH
- (Untitled section)
- Features and Benefits
- Key questions answered