There are two good things to report about the chocolate market. Firstly: Consumer demand for chocolate is on the rise worldwide. Secondly: competition is developing steadily .The according to NCA estimates, based on the U.S. Census Bureau's annual Confectionery Report, retail sales of chocolate confectionery in all channels reached $18 billion in 2010. Annual sales have increased 3 to 4 percent per year for the past several years, and market research firm Packaged Facts forecasts the industry will grow to $18 billion by 2011.The undisputed leader for North American sales of chocolate products, the U.S. has a market share estimated at over 86 percent
But behind the encouraging headlines, many companies are battling to stay on top of a rapidly shifting marketplace, as fast-growing economies and empowered consumers demand more from their products. The constant change in the market structure, shares and prices, due to the emergence of new chocolate manufacturers, demonstrates a threat for the existing chocolate and confectionery companies like Quality Crafted Chocolates.
Part of our market research was to do a search volume estimate for the US market using Google AdWords. We first searched the broad keyword “chocolate” and below are the results with the top five keywords ranked in order of high to low based on amount of searches.
|Keyword |Competition |Global Monthly Searches |Local Monthly Searches (United States) | |chocolate |0.31 |30400000 |9140000...