For the fourth consecutive year, Barry Callebaut has researched the top chocolate trends and deep-dived into what consumer preferences will shape the global and regional chocolate markets in 2024 and beyond. We also involved consulting with leading chefs worldwide.
Chocolate confectionery is a significant market, expected to be worth over 128 billion US$ (130 billion Euro) in global retail sales by the end of 2024. With a volume growth of +2% over the next 5 years to 20271, it is also a dynamic market.
With the recently seen price increases, we see consumers respond in two ways:
- Research2 suggests that half (54%) prefer to purchase premium, high-quality chocolate. This means consumers continue to treat themselves by celebrating and escaping the ordinary experience by purchasing small luxury items, such as premium and high-quality chocolate.
- Conversely, nearly 7 out of 10 consumers (66%) are looking for better value for their money. This group is also looking for ways to get more for their money, such as buying in bulk, taking advantage of economies of scale, or switching to private-label brands.
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