According to Statista, consumption of chocolate and confectionery in the United States is expected to continue its upward trend (from $139.9 billion in 2019 to $165.2 billion in 2023), supported by population growth and increased purchasing power.
From the perspective of the Veroni Brands company, consumers are increasingly aware of the health effects associated with excessive consumption of sugar and fat.
In response to changing preferences, low-calorie, reduced-sugar and more nutritious types of chocolate are becoming more popular.
Premium, dark and organic chocolates are key products benefiting from this trend.
The chocolate production industry is moderately concentrated with the top four players (Hershey, Mars, Ferrero and Lindt) accounting for 60.6% of the market share in 2019, according to IBIS World.
The industry has been consolidated in the last five years through acquisitions.
In the last five years, producers in the industry have experienced steady competition from foreign chocolate producers.
Although brand recognition is important in this industry, as many brands have been on the market for decades, chocolate producers compete based on the quality of their products, determined by taste, quality of ingredients, and, more recently, the nutritional value, according to Veroni Brands.
Veroni Brands operates in the consumer packaged goods industry and focuses on the import, sale and distribution of premium chocolate and snack products produced in Europe.
The company also serves as a supplier of confectionery products to major United States retailers under private label brands.
The company has established itself as a supplier of record with national retail chains in the United States and other well-known international retailers, allowing its products to be sold in thousands of stores in the United States.
Within the food industry, the global health and wellness sector is experiencing a “healthy” boom shaping an ever-growing market like never before.
Increasingly, Veroni Brands points out, consumers are developing food sensitivities and adopting healthier and more active lifestyles, which leads them to seek healthier nutritional alternatives and consume fresh and organic foods.