Chocolate Consumption Increases

Americans eat 12.31 pounds of chocolate and spend almost $50 on it each year, according to Datamonitor.

The market analysts at Datamonitor forecast consumption will increase by an extra 1.5 pounds to 13.9 pounds by 2010. Favorite chocolate products are bagged chocolates, such as Hershey's Kisses, which make up almost 50 percent of total volume sales, followed by chocolate bars with 37 percent of the market. Desire for dark chocolate is gathering pace, with sales forecast to grow by more than 60 percent.

A greater awareness of the confectionery's nutritional content is thought to be behind the trend. Consumer tastes become increasingly influenced by health and wellness, both dieters and those concerned about cardiovascular problems are becoming more interested in the potential health benefits of dark chocolate, the firm noted.

While the overall chocolate market is expected to show an impressive growth rate of 22.5 percent, from $14 billion in 2005 to $17.8 billion in 2010, the dark chocolate category, which currently accounts for just 2.8 percent of the market, will grow an astounding 61 percent, according to Datamonitor's outlook.

Consumers in the United States are seeking more luxury from their consumption choices to satisfy their increasing lifestyle aspirations, the company said. This, together with a trend towards rising affluence, added time pressures and stress, causes them to trade up to indulgent, luxury items such as premium chocolates.

The value of super-premium chocolate is forecast to rise from $670 million in 2004 to $850 million in 2009. American consumers are now following in the footsteps of European consumers who are more likely to enjoy gourmet chocolate as part of their daily routine and not just for a special occasion.