Table of Content
Market Size and Growth
Confectionary industry relates to delicacies or sweetmeats that have sugar as a principal ingredient, combined with coloring matter and flavoring and often with fruit or nuts (All about candy and chocolate, 1958). From all the delicacies that the confectionary industry produces, chocolate is the major product of the confectionary industry that generates the greatest sale. It covers 56% of total sale in 2012 (Euromonitor International, 2013).
Godiva Belgium Chocolate was originated by a master chocolatier Joseph Draps in 1926, which created a new line of Belgian chocolates with extraordinary richness, premium quality, and iconic style. He sought a name for his company that embodied timeless values balanced with modern boldness. Joseph Draps get His inspiration came from the well-known Saxon legend of Lady Godiva who rode unclothed through the streets of Coventry to entreat her husband, Leofric the Dane, to lower taxes. Her courage prevailed, and in Europe she was celebrated in countless works of art (Godiva Chocolatier, 2013)
In 1966, the Draps family came into contact with the American company Campbell Soup Company, which acquired one-third of a stake in Godiva that year. Thus, the American operation of the company was the first to introduce premium chocolate to the American palette. By 1968, Godiva Chocolatier, Inc., had begun domestic production, using the exclusive Belgian recipes. (Godiva Chocolatier, 2013) The company has continued to grow and expand over the years. The U.S. plant in Reading, PA, now produces the same amount of chocolate for the U.S. market as the Belgian plant produces for the rest of the world. There are now over 270 Retail locations as well as over 2000 Wholesale doors. In addition to retail and production, Godiva runs a direct business and a wholesale merchandising sales force across the country. (Godiva Chocolatier, 2013)
As it was stated in the above, Godiva have over 270 retail store location, as well over 2000 wholesale doors that operates in the market. Which means Godiva Chocolatier operates in a global scale market. The confectionary market consist of retail sales of truffles, coffee, cocoa, biscuits, dipped fruits and sweets, chocolate liqueur, shakes, wedding and party favors and other items arranged in gift baskets.
Market Size and Growth
* The total revenue of global confectionary industry and the Compound Annual Growth Rate (CAGR): * The global confectionery market had total revenues of $157,640 million in 2011, representing a CAGR of 3.2% between 2007 and 2011. Market consumption volumes increased with a CAGR of 2.1% between 2007-2011, to reach a total of 15,147.7 million kg in 2011. (Confectionery: Global Industry Guide, 2013)
* The total revenue of Indonesia’s confectionary industry and the Compound Annual Growth Rate (CAGR): * The Indonesian confectionery market had total revenues of $1,259.1 million in 2011, representing a CAGR of 6.6% between 2007 and 2011. Market consumption volumes increased with a CAGR of 3.7% between 2007-2011, to reach a total of 155.5 million kg in 2011.
Lu Anne William, head of research at Innova Market Insights, has identified 10 keys for chocolate products: 1. Pure is the new natural: This happens because there are increased emphases on clean label products over...
Please join StudyMode to read the full document