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Brazil confectionery market: Chocolate reaches over 50% of total sales
Market Focus: Trends and Developments in the Confectionery Sector in Brazil - a new market research report on 2014-04-03 21:09:02
Chocolate accounts for half of the total Confectionery sales in Brazil. With increased economic prosperity of the country´s large middle class population, there has been significant change in consumer behavior. Demand for higher quality and expensive Chocolate and increased consumption of Gum products has also added to Chocolate and Gum´s rapid sales growth.
Personal space and time, and Fun & Enjoyment are key trends in the Brazilian Confectionery market. The pace of modern life and all the demands it brings means that many people are seeking to create their own "bubble" of space and time where they are in control, are able to relax and unwind, and are free from the constant flow of things to do.
The presence of a large young population has boosted demand for new product lines of Confectionery items in Brazil. Manufacturers, cashing in on the increased demand, have introduced a variety of Gum and Sugar products with new flavours and tastes.
Major confectioners in Brazil have boosted their marketing spending in preparation for the FIFA World Cup 2014 and Confederations Cup Football Tournament, which took place in 2013. It is likely to result in heightened competition in the overall Confectionery market for additional market shares.
The demand for Chocolate will grow at a higher rate between 2012 and 2017 in local currency terms, with annual growth rate of more than 2%, helped by seasonal sales and important sales days such as Valentine´s Day and White Day.
Easter, Dia dos Namorados (Lovers´ Day), and Christmas are important days for chocolate sales in Brazil; Easter alone is estimated to account for 30% of all chocolate sales in the country.
Women consume more Confectionery products by volume than men. Wealthy Female Confectionery consumers account for half the total consumption in the category. The male market is skewed towards Kids & Babies, while Older Young Adult Females consume Chocolate and Chewing Gums more than the Tweens and Teens.
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