The US market for chocolate sold at retail was worth an estimated $19.5bn in 2011, up 6.6% over the previous year, according to a new report from Packaged Facts.
However, much of the growth was driven by higher prices, rather than volume gains, as firms put up prices to offset rises in raw materials and other costs, said the market researcher.
Chocolate performed particularly well in convenience stores and natural food stores, with sales of organic chocolates up 20% in natural food stores in 2011.
Growth drivers included a desire to ‘treat’ yourself amid the ongoing economic gloom, growing interest in premium chocolate and the growth of specialist chocolate retailers, said Packaged Facts.
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