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The Fact about UK Chocolate Market - Case Study Example

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The following paper entitled 'The Fact about UK Chocolate Market' presents people in the United Kingdom which consume a larger number of chocolates than in any other European country and their love of chocolates and sweets continue to flourish day by day…
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The Fact about UK Chocolate Market
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Download file to see previous pages Chocolate is the UK’s favorite impulse snack. Consumer’s eating habits and lifestyles are constantly changing as people due to busy life schedules depend mostly on chocolates and short snacks to make up for missed meals. Even though few have concerns and awareness about sugar and fat in chocolate, they regard it to be an affordable daily treat. Women play a major role in the chocolate market as they are the largest purchasers of chocolates either for home consumption or for giving the gift. The most remarkable fact about the UK chocolate market is that people over 55years of age consume chocolate worth 700 pounds every year, which accounts to be 21% of the total chocolate consumption.

For a new chocolate brand ‘Mouth Fresh’ from John Foster Enterprises, it would be a tough time to get a market where the competition is fierce and is dominated by multinational companies like Cadbury, Mars, and Nestle who fight each other to keep hold of their profitable portions of this £5.3bn market. Around one-third of all the chocolate the UK people eat is made by Cadbury. For the last five years, Cadbury had been very strong and sharing more than 30% of the chocolate market. Cadbury concentrated mostly on consumer awareness and understanding which in turn led to the lunching of many successful new product developments. Mars and Nestle are the other leaders in the market who had been sharing the market up to more than 25% and 20% respectively for the last five years. Nestle, the world’s biggest food and drink group, had been focusing more on the UK chocolate market and it resulted in a 16% hike in their annual earnings.

Demand for dark chocolate has been increasing rapidly up to incredible growth of 45% since 2004 and is still expected to continue to rise mainly because of that the consumers are influenced by its high levels of antioxidants. Even though Black Magic, the most recognized dark chocolate from Nestle, uniquely dominated the UK market and helped retailers largely to take the benefits of fast-growing consumer demand, there is an opportunity for new dark chocolate with more innovative product development and targeted marketing activity that it can produce a successful market. ...Download file to see next pagesRead More
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