U.K. Premium Chocolate Market Outlook (2018 to 2032)
The above chart is U.K. Premium Chocolate Market Outlook (2018 to 2032)
the united kingdom premium chocolate market outlook for 2018 to 2032 remains stable with a promising outlook for growth. the uk is the third largest global confectionery market, accounting for 7-10 percent of the adult confectionery sales. the uk premium chocolate market accounted for an estimated 15.4 % of the overall confectionery market in 2017. this segment is forecast to register a cagr of 2.9% over the forecast period 2018-2032, driven by a number of factors including an increased demand for premium chocolate products as well as improved access to more flavors, textures, and formats. the uk premium chocolate market is dominated by international brands such as lindt, godiva, and mars. these brands present desirable chocolate options for consumers seeking indulgent flavors and options for gifting and special occasions. while growth of the premium segment has been slower than earlier expected, some retailers are reporting a boost in sales. popularity of artisanal chocolate makers like pierre marcolini, rococo, and duffy's are helping to boost the overall spend on premium chocolate. premium chocolate is gaining traction due to its unique characteristics regarding flavor, functionality, and packaging. manufacturers are innovating with flavor combinations to diversify and appeal to the target market. new product launches are helping in the growth of the premium segment. in addition, the growing number of health conscious consumers is driving the demand for low sugar, organic, and vegan friendly premium chocolate. the sustainability initiative in the uk is further impelling the growth of the premium chocolate market. in 2017, 70% of cocoa products in the uk were certified as sustainable. to drive home the message of sustainability, many retailers and manufacturers in the uk are investing in traceability of the chocolate products. this is expected to have a positive impact on the industry over the forecast period. in conclusion, the uk premium chocolate market is enjoying sustained growth. this is due to a number of factors such as sustainability initiatives, improved access to more flavors, textures, and formats, and the popularity of artisanal chocolate makers. manufacturers should continue to develop innovative products and leverage sustainability initiatives in order to appeal to the target market.
