Foreign firms are the biggest players in a rapidly growing chocolate confectionery market in China – but a fragmented market means there are opportunities for smaller companies, according to a new report from Datamonitor.
Archer Daniels Midland Company (ADM) has announced that it will expand its cocoa processing capabilities at its facility in Singapore to enable it to keep pace with growing demand for cocoa and chocolate products from Asian markets.
An explosion in Fairtrade chocolate sales last year in Australia has seen it overtake coffee to become the biggest selling Fairtrade certified product in that market, said the organisation behind the standard.
The first 100 per cent single source chocolate from Vietnam is being launched by Belgian B2B producer, Grand-Place, who in a bid to increase output is investing heavily in improving the quality of the cocoa beans from the region.
The Indian confectionery market witnessed the launch of over 200 products in various categories last year, thus ranked, according to Datamonitor, in the top 20 in terms of global new product launches in 2009.
Second quarter income for US chocolate maker, Hershey, fell 35 per cent due to factors such as charges related to its supply chain efficiency programme and the joint venture in India but Asia remains a focal area, said the company.
In response to rising demand in the chocolate industry and reduce
dependency on imports, Indian cocoa producers have said they will
increase domestic cocoa production by 60 per cent in the next four
Swiss-based Barry Callebaut today announced the completion of a
deal to acquire production facilities from Japanese company
Morinaga, only one day after the inauguration of the company's
manufacturing plant in China.