Barry Callebaut shares chocolate trends for 2023 and beyond
Chocolate confectionery is an important and dynamic market, expected to be worth over $128 billion/ €107 billion in global retail sales by the end of 2023, with a volume Compound Annual Growth Rate (CAGR) of 1.9% CAGR over the next 3 years to 2025, according to Euromonitor 2022 research. Innovation plays a key role in that growth projection to meet the latest needs of consumers. The type of indulgence consumers choose depends on their mood or mindset, and their specific attitude towards life.
A feast for the eyes and taste buds
Consumers look for Intense Indulgence when they want to enjoy life to the fullest. They want over-the-top and immersive experiences. Based on proprietary research of Barry Callebaut from August 2022, 71% of global consumers agree that when they want to celebrate, they choose something with chocolate in it.
For chocolate confectionery, this means consumers will continue to seek multi-sensoriality, exclusivity, seasonality, storytelling about origin, craftsmanship, and treats that help them celebrate.
While there will always be a need for Intense Indulgence chocolate experiences, we expect consumers to shift towards a more healthier approach, increasing the Mindful Indulgence chocolate space.
Tasty, but also good for the planet
The Mindful Indulgence trend is for consumers who want to indulge without compromising their (physical and mental) well-being, the health of others or the planet. Demand is growing for chocolate treats that meet these needs, including plant-based, sugar reduced, sustainably-sourced and with traceable ingredients.
Proprietary research of Barry Callebaut from March 2022 showed that 3 out of 4 global consumers agree that chocolate needs to be tasty, ‘good for me’ and good for the planet.
A food for health
Consumers looking for Healthy Indulgence actively and intentionally make choices that have a positive impact on their health. Proprietary research of Barry Callebaut from March 2022 also showed that almost two thirds (65%) of global consumers would love a healthy-boosted chocolate with e.g. macro/micronutrients. Such as vitamins, minerals, fibers, and flavanols being claimed on innovative, new products. And 3 out of 4 consumers agree that a higher cocoa content means a healthier chocolate.
The Healthy Indulgence trend is one to watch within the confectionery segment in the years to come.
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