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Also, the established confectionery manufacturers address the health noted health concerns through the production of new products. Most notable include low caloric confectionery, candy and specialty production of chocolate. According to the prevailing circumstances, the industry estimates an annual growth of 0.5% to $127.6 billion until the end of 2015. 1It also entails an estimated increase of approximately 2.0% in 2015 because of the stable chocolate and cocoa prices.
The future of Global Candy and Chocolate Manufacturing Company is poignant. It is anticipated the growth of the mature markets in Japan, United States, Australia and Europe shall remain slow through 2020. During the period, machinists will strive to shall promote product innovation to stimulate demand. On the contrary, newly industrialized nations such as Latin America, South East Asia, and Russia anticipate an increase in demand for the sugar and chocolate confectionery. Furthermore, the global market prices shall increase thus increasing the industry’s overall in this income. In this regard, the industry anticipates an annualized growth of 2.2% to $142.4 billion in the subsequent years until 2020.2
The firm operates in the mature stage of the life cycle. Its industry value added (IVA) is projected to lag behind the global GDP growth in the next ten years through to 2020. IVA quantifies a company’s contribution to the global economy. Thus, it designates maturity of the industry. In the same measure, IBIS World anticipates the business’s IVA shall rise to an annual level of 2.4% for the 10-year period. The growth is comparable to projected annual average growth of 3.5% for world GDP over the period. Even though the firm projects an increase in demand for candy and chocolate in developing countries, the declining demand for the product in mature markets shall hinder the overall expansion of the industry.
The Global Candy and Chocolate Manufacturing
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It is located in Pennsylvania. In 1982, Hersey foods achieved a remarkable victory regarding its chocolate ‘war’ with its closest competitors Mars by promoting its popular product “Reese's Pieces” in one of the most popular film “E.T.: The Extra-Terrestrial”.
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