The chocolate and chocolate factory market - Italy (2024)

1.2 Global market

The global market value forecast shows steady growth from **** to ****, increasing from $***.** billion in **** to $***.** billion in ****. This represents an overall increase of **.* percent over seven years, with a compound annual growth rate (***) of *.** percent.

Global market value World, ****-****, in US$ billion GrandViewResearch

Cocoa bean production is very challenging, as it requires year-round warm weather, as well as high humidity and heavy rainfall (***). These conditions are mostly met by tropical forests. This explains why cocoa production is carried out in only a few countries. Côte d'Ivoire and Ghana alone account for ** percent of world cocoa production.

World cocoa producers World, ****, in % VisualCapitalist

World cocoa production was dominated by Côte d'Ivoire, which contributed **.* percent of global production, or *.* million tons. It was followed by Ghana with **.* percent (***).

World cocoa producers World, ****, in million tons VisualCapitalist

  Cocoa beans are generally exported to industrialized countries that are the main consumers (***). However, cocoa processing is increasingly taking place in producing countries [***]. The main market for chocolate is Western Europe, which accounts for **.*% of the global market, followed by North America with **.*%. The Asia-Pacific region, accounts for **.*% of the global market, but is expected to continue to grow to approximately **% at the ...

1.3 European market

in ****, the European market was ** billion euros and is expected to reach **.** billion euros in ****, with a compound annual growth rate of *.**%, representing a total increase of **.*% in five years.

European Chocolate Market Value Europe, ****-****, in € billion CBI

Germany was the leading chocolate exporter in Europe with ***.* tons. It was followed by Belgium with ***.* tons, while the Netherlands exported ***.* tons. Poland and Italy exported ***.* and ***.* tons, respectively, with France standing at ***.* tons. Switzerland, with ***.* tons, closes the ranking. Major chocolate exporters Europe, ****, in tons UNComtrade

In ****, Germany was the largest importer of chocolate in Europe with ***.* tons. France followed closely with ***.* tons, while the Netherlands imported ***.* tons. Poland and Belgium imported ***.* and ***.* tons, respectively. Spain recorded ***.* tons of imports, while Italy imported ***.* tons. Major importers of chocolate Europe, ****, in tons UNComtrade

1.4 Italian market

In ****, the turnover of Italian cocoa, chocolate, candy and confectionery companies was *.** billion euros, rising to *.** billion euros in **** and peaking at *.** billion euros in ****. In ****, turnover dropped to *.** billion euros, with a slight recovery in ****, with turnover reaching *.** billion euros; **** saw a significant decrease to *.** billion euros, marking an overall decrease of **.* percent compared to ****.

Turnover of cocoa, chocolate, candy and confectionery manufacturing companies [***] Italy, ****-****, in billion € Istat, RegistroAziende

In ****, the value of production of all categories containing chocolate was €*.** billion, falling to €*.** billion in ****, the lowest level in the period. Thereafter, the value increased slightly in **** with *.** billion euros, then dropped again to *.** billion euros in ****, from the following year there was a significant recovery, with the value rising to *.** billion euros and continued to grow in ****, reaching *.** billion euros. Despite the fluctuation, the period ends with a lower value of production sold than the initial ****, marking an overall decrease of *.* percent.

Production in value sold per product containing chocolate Italy, ****-****, in billion € Istat

The categories are as follows, and they have these percentages within the market: [***] Chocolate and other food preparations containing cocoa presented in blocks or bars weighing more than * kg in a liquid or ...

1.5 Imports and exports

Italian imports of chocolate and other foods containing cocoa increased from €*.*** billion in **** to €*.*** billion in ****, registering an overall growth of ** percent. Exports over the same period grew from *.** billion euros to *.** billion euros, marking an increase of **.* percent. The coverage rate, which represents the ratio of exports to imports, showed a slight change. In ****, the rate was *.**, indicating that exports were more than three times higher than imports. This ratio has remained relatively stable, with a slight increase to *.** in ****, followed by a decrease to *.** in ****.

Imports, Exports and Coverage Rate for Chocolate and Other Foods Containing Cocoa Italy, ****-****, in billion € UNComtrade

In ****, Germany was the main country of origin for chocolate imports to Italy, accounting for **.** percent of the total, or €***.* ML. This was followed by France with **.** percent (***) came from other countries. Main countries of origin of chocolate imports Italy, ****, in % UNComtrade

In ****, France was the main export country for Italian chocolate, accounting for **.**% of the total, or €***,***,***.**. This was followed by Germany with *.**% (***), respectively. Other countries accounted for **.**% of exports, with a total value of €*.** billion. Main countries of chocolate exports Italy, ****, in % UNComtrade

1.6 Inflation suffered by the sector

Inflation has been influenced by several factors, one of the main reasons for the increase in raw material costs, cocoa, sugar, milk and other essential components for chocolate production have seen an increase in prices. In addition, high energy costs have played a crucial role. Industrial chocolate production is highly dependent on energy, and rising electricity and natural gas prices have inevitably increased production costs. The COVID-** pandemic and the war in Ukraine further complicated the situation, causing disruptions in the global supply chain. These events caused delays and additional costs for transportation and logistics, contributing to the overall price increase. Rising labor costs have also had a significant impact. Wage pressures due to general inflation and a shortage of skilled labor drove up production costs.

Industry producer price index - monthly data - base ****=*** of cocoa, chocolate, candy and confectionery production [***] Italy, ****-****, index Istat

in the period between January **** and December ****, the chocolate industry in Italy experienced significant inflation, as evidenced by the industry producer price index for the production of cocoa, chocolate, candies and confectionery. Starting from a base index of *** in ****, the value increased from ***.* in January **** to ***.* in December ****, marking an overall increase of *.* percent. During ...

2.1 Overview of demand

Spending on chocolate in Italy has shown a generally increasing trend, with an overall increase of **.**%. In ****, spending was €*.**, dropped to €*.** in ****, then rose to €*.** in ****. In ****, there was a slight decrease to *.**€, followed by an increase to *.**€ in **** and a further increase to *.**€ in ****.

Expenditure item (***) by chocolate Italy, ****-****, in EU€ Istat

Chocolate production in Italy saw the largest quantities sold in the following formats: chocolate in blocks or bars of over *kg (***).

Major productions sold in quantity of chocolate Italy, ****, in thousand tons Istat [***] Chocolate and other food preparations containing cocoa presented in blocks or bars weighing more than * kg in liquid or paste form or in powder, granules, or similar forms, in containers or immediate packaging of a content exceeding * kg, containing **% or more cocoa butter by weight [***] Chocolate and other food preparations containing cocoa presented in blocks, bars or sticks, filled [***] Chocolate and filled chocolate products (***) [***] Chocolate and non-filled chocolate products (***) [***] Eggs and other hollow chocolate products. [***] Chocolate and other food preparations containing cocoa, presented in blocks, unfilled, with added cereals, nuts or other fruits [***] Chocolates, whether or not filled, but not containing alcohol [***] Other types of chocolate presented in blocks [***] Cocoa-based food products [***] Filled chocolates, ...

2.2 Distribution of demand

In ****, Lombardy leads the consumption of sweets at least a few times a week with *.** million, followed by Lazio (***).

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In contrast, the following table shows the consumption of sweets at least a few times a week among people aged ** and older in Italy in ****, classified by status and position in the profession. The category with the largest number of consumers is the employed, with **.*** million people. This is followed by those retired from work (***). Students account for *.*** million sweet consumers, while the unemployed seeking new employment number *.*** million. Finally, those seeking first employment number ***,*** and those in other status amount to ***,***. These data show that despite the change in employment status, dessert consumption remains widespread among all occupational groups.

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2.3 Geographical distribution of demand

Northern regions show a higher average expenditure, ranging from €*.* to €*.**. In contrast, the southern regions and islands show a lower average expenditure of €*.**. The center follows with *.* euros; the average expenditure per household in the north is up to **.** percent higher than in the center. This distribution suggests a greater propensity to consume chocolate in northern areas than in southern areas.

Average monthly expenditure ****:

2.4 Trends in chocolate demand

During the fall and winter months, searches reach their highest peaks, with a high of ** in the winter of **** and **.* in early ****. In the summer months, however, a significant decrease is observed, with the lowest values in July **** (***).

Trend of chocolate searches Italy, ****-****, index Google Trends, Businesscoot elaboration

Basilicata records the highest level of interest with an index of ***, followed by Puglia (***) show significant values, while Lombardy stands at **. These data suggest regional variations in interest in chocolate, with a stronger trend in southern Italy.

2.5 New trends in demand

In the chocolate market of ****, new trends are emerging that reflect changing consumer preferences and a growing focus on sustainability, health, and innovation.

Here are the main examples:

Lindt Excellence: Dark chocolate with high cocoa content (***) offering intense flavor and smooth texture, designed for dark chocolate lovers. Green & Black's Organic: Organic chocolate with traceable and sustainable ingredients. The dark and milk chocolate bars are Fair Trade certified and use only organic ingredients. Ovomaltine Crunchy Cream: A spread with less sugar than other brands, which still offers a tasty chocolate experience with crunchy chunks of malt. Hu Kitchen: Chocolate without refined sugars, dairy, soy or emulsifiers. Uses ingredients such as almonds, hazelnuts and organic cocoa to create a healthy chocolate. Alter Eco DarkChocolate Quinoa Crunch: Dark chocolate bars with crunchy quinoa, offering a source of protein and fiber, making the chocolate not only delicious but also nutritious. Tony's Chocolonely: A chocolate brand committed to fighting slavery and exploitation on cocoa plantations. Each chocolate bar is made with traceable and sustainably sourced cocoa. Divine Chocolate: A chocolate company owned by cocoa farmers. All products are Fair Trade and the company provides clear details on where the cocoa used comes from. Moo Free: Dairy-free ...

3.1 Market structure and dynamics

The number of enterprises active in cocoa and chocolate production in Italy decreased from *** in **** to *** in ****. This represents an overall decrease of *.* percent over the period. After a significant decline between **** and ****, the number of companies remained relatively stable with slight fluctuations in subsequent years, showing a slight recovery in **** followed by a new decline in **** and modest growth in ****.

There are *** companies active in the production of cocoa, chocolate, candies and sugared almonds with ateco code **.** of which *** are corporations, the total turnover of these enterprises is €*,***,***,***.

Number of enterprises active in cocoa and chocolate production [***] Italy, ****-****, in number Istat

The distribution of legal forms shows a predominance of limited liability companies, accounting for **.** percent of the total. Sole proprietors, freelancers, and the self-employed make up **.** percent, while general partnerships and limited partnerships account for **.** percent and *.** percent, respectively. Joint stock companies, including limited partnerships, make up *.** percent. Social cooperatives and other forms of enterprises account for only a small part of the total, accounting for *.**%, *.**% and *.**% respectively. Legal form of enterprises active in the production of cocoa, chocolate, candies and sugared almonds Italy, ****, in % Istat

In ****, there were **,*** employees, a figure that remained almost unchanged in **** with ...

3.2 Value Chain

*. Harvesting

This is the initial stage when the cocoa pods are harvested from the cocoa trees. The pods are carefully cut to avoid damaging the tree.

*. Fermentation

After harvesting, the cocoa beans are extracted from the pods and placed in shallow containers covered with banana leaves to ferment. This process takes several days and is crucial for developing the flavor of the beans.

*. Toasting

The fermented seeds are then roasted at high temperatures. Toasting improves the flavor and color of the seeds. The duration and temperature of roasting can vary depending on the desired flavor profile.

*. Transport

After roasting, the seeds are transported to the production facilities. This stage involves logistics and distribution management to ensure that the seeds reach the production sites in good condition.

*. Tinning

At this stage, the chocolate mixture is continuously stirred and aerated to refine texture and flavor. This process can take from several hours to days, depending on the desired smoothness and flavor.

*. Tempering

Tempering involves carefully cooling the chocolate to ensure that it solidifies with a stable texture. This process gives the chocolate a glossy finish and smooth texture, preventing it from becoming brittle or developing a whitish patina ...

3.3 Main wholesalers

The following are the main wholesalers dealing especially with the confectionery and pastry industry:

Tessieri Srl: Casa Tessieri, founded over fifty years ago, is an Italian company specializing in the distribution of ingredients and food products for food service professionals, including pastry shops, bakeries, restaurants, hotels and ice cream parlors. It offers a wide range of products including chocolate, pastry bases, spreads, cured meats, cheeses, fish, flours, preserved vegetables, truffles, spices, sauces, pasta and cereals, gluten-free products and more. Casa Tessieri is also active in vocational training through its dedicated school.

Baker & Baker Italy Srl: It is a leading manufacturer of frozen bakery products, operating in more than ** countries in Europe and around the world. With ** production sites in six European countries and more than *,*** employees, the company offers a wide range of sweet and savory products, both under its own brand and under license from famous brands such as OREO, Cadbury and Milka. Baker & Baker is committed to operating sustainably, improving the environmental footprint of its business and working with customers to achieve common sustainability goals.

Josef Lona & Co. Srl G.M.B.H: Italian company active since ****, specializing in the distribution of confectionery and snack products from well-known European ...

3.4 Main companies in chocolate processing

With ateco code **.**, production of cocoa, chocolate, candy and confectionery, there are *** companies including *** corporations, the total turnover of these enterprises is €*,***,***,***.

These are the main ones:

Ferrero Industriale Italia Srl: part of the Ferrero Group, is a company based in Alba, Cuneo, founded in ****. Specializing in the production of chocolate and confectionery products, the company employs about **** people. It is involved in the production of cocoa, chocolate, pralines, sweet spreads and desserts, managing the transformation of raw materials into finished products. Ferrero Industriale Italia is known for the high quality of its products and its commitment to sustainability. The company has implemented initiatives such as "Forever Chocolate," aimed at improving cocoa farming and promoting sustainable practices throughout the production chain. Ferrero, with its iconic products such as Nutella, Kinder, Tic Tac and Ferrero Rocher, is present in more than *** countries worldwide, reflecting an effective integration of tradition and innovation.

Lindt & Sprungli Spa: It is an important part of the Swiss Lindt & Sprüngli Group, known for the production and distribution of premium chocolate. The company is based in Induno Olona, Varese, Italy. Founded in ****, it produces a wide range of chocolates, including milk chocolate, dark chocolate, pralines, truffles and other ...

4.1 Products offered

The different types of chocolate best known are:

In addition, based on the form the chocolate takes and the method used in production, we can distinguish between:

4.2 Price trends in the market

The consumer chocolate price index in Italy shows a clear upward trend from May **** to April ****. In May ****, the index was **.* and reached ***.* in April ****, representing an overall increase of *.* percent. During this period, the index crossed the base threshold of *** in July **** and continued to rise, with notable peaks such as December **** (***), followed by a new increase.

Consumer chocolate price index for the whole community (***) - monthly data [***] Italy, ****-****, index Istat

The price of chocolate depends greatly on the type of production.

Artisanal productions are more expensive and depend on the production process, the search for ingredients and flavors, but also on the reputation of the artisan, such as Guido Gobino or Guido Castagna, and of the confectioner, such as the Marchesi pastry shop in Milan or the Bonajuto chocolate shop in Modica.

Artisan spreads Price € Cocoa cream *** g Guido Gobino **.** Cocoa cream *** g Guido Castagna **.** Cocoa cream *** g Marchesi **.**

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4.3 Supply innovations

The chocolate market is evolving rapidly with several emerging trends for ****. Here are the main ones:

Vegan Chocolate: Plant-based chocolate is growing rapidly. Companies such as Nestlé have introduced vegan versions of their iconic products, such as vegan KitKat. This trend is fueled by increased consumer awareness of environmental and health impacts, with many seeing plant-based products as a more sustainable and healthy alternative (***).

Sustainable Agriculture: Consumers are increasingly interested in products that support sustainable farming practices and fair trade. Brands such as Belcolade use the Cacao-Trace program, which rewards cocoa farmers with bonuses for the quality of their products. This approach not only improves farmers' livelihoods, but also ensures superior chocolate quality(***).

Chocolate with Botanicals: There is a growing interest in chocolate enriched with botanical ingredients such as chamomile, lavender, rosemary, and cardamom. These ingredients not only enhance flavor, but also add health benefits such as mood enhancement and stress reduction(***).

Sensory Innovation: In Asia, in particular, there is a strong demand for new and innovative sensory experiences. This has led to the development of chocolates with unique textures and flavors, responding to consumers' search for new food experiences(***).

Sustainability and Ethics: In the United States and other regions, there ...

5.1 Italian regulations

On July **, ****, after years of troubled legislative processes that began in ****, the European Parliament finally approved Directive ****/**/EC, * which harmonizes chocolate legislation and extends it to all fifteen member countries. The goal of the Directive is to ensure a greater degree of protection for the consumer, who must be fully aware of what he or she is buying. Directive ****/**/EC was implemented in Italy by Legislative Decree ***/****. The new Directive brings many new features including:

The possibility in member states to add in chocolate products other vegetable fats than cocoa butter, within a maximum limit of * percent of the finished product. The minimum percentage of cocoa butter set by the regulations must still be respected . The vegetable fats must be equivalent to cocoa butter and are strictly those specified in the Directive Chocolate products that contain vegetable fats other than cocoa butter may be marketed in all member states, provided that their labeling, bears the conspicuous and clearly legible statement, "contains other fats in addition to cocoa butter." The legislation recalls the application of the general labeling provisions contained in Directive **/***/EEC implemented in Italy by Legislative Decree ***/****, as amended. there is an obligation to state on the label the minimum ...

5.2 Conclusion

The global chocolate market is growing steadily from $***.** billion in **** to an estimated $***.** billion by **** with a CAGR of *.**%. In Europe, the market, estimated at ** billion in ****, will grow to **.** billion by **** with a CAGR of *.**%. Italy, although with an average consumption of *.* kg per capita per year, lower than the European average of *.** kg, is renowned for the quality of its artisan chocolate and is home to leading brands such as Ferrero and Lindt, which together account for ** percent of the domestic market.

The decrease in the number of companies (***) focus on sustainability and innovation, with products responding to new trends: vegan, organic and sugar-free chocolate, as well as initiatives to ensure an ethical supply chain.

Inflation, caused by rising raw material and energy costs, has led to an increase in production prices (***). On the demand side, there is increased interest in premium and functional chocolate, as well as traditional flavors such as dark chocolate, preferred by ** percent of Italians. Legislatively, the market is regulated by Italian and European regulations on traceability and quality, but no major recent regulatory changes emerge.

Analyst's comment:

The market shows moderate growth globally and in Europe. The Italian market seems to be in very ...

6.1 Segmentation

• Lindt Italia
• Nestlè Italia (Perugina)
• Irca
• Icam
• Elah Dufour Novi
• Ferrero
• Nutkao Srl
• Dolfin Srl
• Mondelez Italie
• Tessieri Srl
• Josef Lona & Co. Srl G.M.B.H.
• Baker & Baker Italy Srl