5 Trends in the Chocolate Business
June 15, 2017
Business success comes from having an edge over your competitors. Though, in the global industry of the chocolate market, reportedly worth $98.3 billion or more, how does a chocolate business find opportunities to get ahead?
Long gone are the days where Mars, Nestlé, and Mondeléz products are all that is available. Now there are dedicated chocolate shops in airport terminals and shopping districts; as well as specialist chocolate cafes and bars. Don’t be fooled though — the big names are still the big players — but even they have had to find ways to diversify their product, allowing them to remain relevant and in demand.
Consumers are increasingly concerned about what they are eating and where their food is sourced from. A comfortable adjunct to what’s in vogue, chocolate has long been considered an affordable indulgence, however premium products are growing in popularity as quality becomes harder to come by.
So, what is trendy for the chocoholics of today?
1. Healthy Chocolate
While the term 'Healthy Chocolate' sounds an oxymoron; paleo, sugar free, vegan, and raw chocolate are making their mark.
The health benefits of chocolate have been known for quite some time, but add super-foods and probiotics and soon health professionals will be prescribing chocolate instead of supplements! Combined with a consumer demand for ethically sourced cacao, and you have a product that is healthy for body, mind, and spirit.
2. Creative Flavors
The modern world moves quickly, and modern taste buds are always on the lookout for new flavors and innovations.
Espresso, lavender, ginger, sea salt, and hibiscus are flavors that are hitting the shelves along with Asian-inspired flavors such as turmeric, green tea, figs, and cardamom.
On the other hand — traditional combinations such as cherry and coconut, mint and roasted nuts can be revised for the current market — think pistachios instead of almonds, and sour cherries instead of sweet.
3. Premium Quality
‘Fine’, ‘Luxury’, and ‘Premium’ are words that imply quality and evoke a feeling of curiosity. With a lot people keeping chocolate as a treat for special occasions, it makes sense that when they do enjoy, they want a special type of chocolate. There is a huge market for people willing to spend a premium to receive a premium product.
Origin, ingredients, and workmanship are key. Shoppers love to buy artisan products locally and combined with creative flavors and beautiful packaging, premium chocolate makes for great gifts.
4. Mobile Chocolate
If they can’t get to you — go to them. Mobile chocolate shops, hot chocolate vans, and food trucks serving indulgent desserts are all trends on the rise. Starting a food business that specializes in mobile chocolate is a smart move in a time when food trucks are very ‘in’ and people are looking for something unique. Corporate events, weddings, festivals, and parties are all potential opportunities.
5. A Chocolate Experience
Whether it’s discovering the art of bean-to-bar in a private chocolate tour, tasting the world’s best artisan chocolate bars, or taking part in an exclusive chocolate masterclass, creating an educational and memorable experience is a sure-fire way to stand out.
Hosted by someone who knows their stuff, chocolate pairings such as wine and chocolate, beer and chocolate, and even cheese and chocolate will make for an experience that participants will be talking about for years to come.
Chocolate is an indulgence enjoyed all across the world, and it doesn’t look like that will be changing anytime soon. Consumers are looking for an ever more memorable chocolate experience, not only in the product but also in the experience of buying and enjoying it. The first step to running a successful chocolate business is staying aware of the ways in which chocolate culture is moving and developing — which is anything but a chore!
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- 5 Trends in the Chocolate Business - June 15, 2017