All love chocolate. Children, adults, all love the taste of chocolate. Recently, people are becoming more and more aware about their health and fitness. They are reducing their sugar intake by reducing the consumption of products with high sugar content like chocolate and other confectionary and bakery products. Further, as children and young people consume most of the chocolates, and most of them are becoming health conscious, sale of chocolate is taking a hit in past few years. This trend is almost similar throughout the world and Taiwan is no different. In past few years, the Taiwanese chocolate industry has seen a downfall in sale of chocolates and related products.
According to the market research report "Chocolate Confectionery in Taiwan", one segment of the chocolate industry in Taiwan has not seen any downfall in sales. Instead, it has seen some growth in its sale. That segment is of dark chocolate. Dark chocolates have seen significant growth in its sales because of its low sugar content and certain other health benefits. This is the reason why most of the consumers are shifting from traditional chocolates to dark chocolates and therefore, manufacturers are providing various product options in dark chocolates. A recent survey has found that Taiwanese people are most interested in the good feeling they get when they eat chocolate.
To improve the standards of the industry, Taiwanese government is also setting some standards for the chocolate industry. This will help protecting the consumer rights and will set some quality benchmarks for the chocolate manufactures. At present, Ferrero Taiwan is the market leader in the chocolate industry. Its two products, Ferrero Rocher and Kinder Surprise took the lead in terms of sales. Kinder Country and Kinder Bueno are also famous. Mars who's Snickers follow Ferrero Taiwan and M&M’s products are sold the most. Hunya Foods Co follows Mars in terms of market share. It is a domestic brand.
In near future, chocolate industry is not expected to grow and show some significant revival. However some of the players are expanding their product lines to include more luxury and dark chocolates and therefore increase their customer base and hence make some recover in their sales.
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Ankur Gupta, Head Marketing & Communications
ankur [@] kenresearch.com