This is a story of how chocolates became one of the food industries biggest growth contributor. After all, with a combined profit of $110 Billion per year, having a sweet tooth isn’t a bad thing after all; especially if your business is based on it. One might argue, however, that having too much chocolate is bad for the body. But others say, there’s no such thing as having “too much” on these savory treats.
When you open a box of chocolates, you don’t ever think of what it costs or how much this brand is worth in the total business landscape. And why would you? All that you’re thinking of is that one bite would melt all the stress away. You’d never think of the bigger picture – that chocolate is the fastest growing industry in Asia and the world probably.
In fact, the love of chocolates have produced billionaires in this world. Here are some of them:
And the numbers support this claim
In all of businesses who are into manufacturing candies and sweets in Asia, 18.5% of them are devoted solely to chocolate. It earned a whopping $9.6 Billion in 2004. But in less than a decade, that profits rose to $13.5 Billion. In fact, the three biggest chocolate brands in Asia now are Mars, Nestle and Mondelez International. This stands proof that people’s love for chocolates is driving the industry forward.
Thank goodness for public sentiment because chocolate is still the number one candy of choice today. Because it has grown so much, it has surprised many of its counterparts in the food industry. Never mind the increasing costs of the global supply of cocoa. That hasn’t stopped people from buying and consuming chocolate.
Chocolate is mainly manufactured from pure cocoa which is sourced in Africa and Latin America. Some of the best grade cocoa are from Spain and Germany. With raw materials increasing in costs, the chocolate industry is slanted to increase their own manufacturing expense. That would also drive chocolate prices up. But is this enough to stop people from eating them? That would seem impossible seeing that this has always been the case for many manufacturing industries in general.
Improving Global Economy = More $$$
The main reason why the many manufacturers see a growth in the chocolate industry is the improving global economy. People have more freedom to spend in the last 5 years and they’re ever more demanding now of their chocolate. The past favorites are no longer up to par. The demand for small shops making their own specialty chocolates or what’s called chocolatiers is increasing. These are the shops who own their own brand, blends and styles of making chocolates.
People are patronizing these shops because they’re different. And consumers are always looking for something different – a twist in an old favorite. And because of this growing trend, small chocolatiers are fast becoming members of the millionaire’s club with minimum earnings of $500,000 annually.
The industry does not see a decrease in revenue in the next coming years, albeit, they’d only be making more unique chocolate concoctions that the public would love. Chocolate, as they say, is the food of the gods. Why would you not want to eat like the gods and goddesses do, right?