Society
Love like a chocolate box for sweethearts
Updated: 2011-02-14 07:43
By Yu Tianyu (China Daily)
Customers pick up chocolates at a supermarket in Xuchang, Henan province, over the weekend. The cost of chocolate candy is likely to rise soon. Wholesale prices of cocoa have increased due to political unrest in Cote d'Ivoire, the small West African country that is the world's largest exporter of cocoa beans. Niu Shupei / for China Daily |
Large potential
Those shoppers apparently are buyers, too. According to Euromonitor International, global retail sales of chocolate confections surpassed $300 million in 2009, up 21 percent from a year earlier (the most recent figures available). Euromonitor predicted retail growth for chocolate of 25 percent in 2010 and 18 percent this year.
In China, chocolate sales reached 7.7 billion yuan (nearly $1.2 billion) in 2009 after growing by a compound annual rate of 10 percent since 2004.
However, chocolate isn't integrated into Chinese people's daily menus, with per capita consumption at 100-200 grams a year. Compare that to 10 kg in Switzerland and 5.3 kg in the United States. Even in Japan and South Korea, the figure is close to 2 kg.
Thanks to the country's economic boom, China's potential chocolate consumption is estimated at more than 20 billion yuan, mainly dominated by foreign brands, according to the China Association of Bakery and Confectionery Industry.
Boxed assortments made up about 40 percent of chocolate sales in China in 2009 as wealthier consumers sought to show off their rising status by lavishing chocolates on business associates, according to Euromonitor.
Ehab Abou-Oaf, China president of US-based candy maker Mars Inc, told media in November that China would become the second-largest chocolate market within 10 years.
Zhao Hong, general manager in China of Chocolate Debauve & Gallais, a French chocolate maker, quit her government ministry job in the early 2000s and started a career in chocolate five years ago.
"My first year of introducing Debauve & Gallais was tough and most people could be scared away by its stunning prices of 2,000 to 3,000 yuan for 1 kg on average, almost the most expensive in the world," she said.
Established in 1800, the company has more than 2,000 kinds of chocolate. Zhao said truffles are among the most popular with Chinese consumers because of their smooth taste. A 99 percent dark chocolate also has lured many Chinese followers due to its pure and strong taste, she said.
Industry insiders also said China will see steady growth of chocolate consumption in the coming 10 years and high-end chocolates are expected to see the fastest growth, which is also in line with the global trend.
"Chocolate is not a necessity," Zhao said. "It's more about branding and emotional attachment and promotion of corporate culture. It is a bit similar to wine."
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