Friday 27 February 2009

Recession, what recession? I'm eating chocolate!

Chocolate eating is on the rise in the current economic slowdown according to Birmingham based confectionery giant Cadbury.

Consumers were tucking into more chocolate at home in the recession.

Chocolate seems to benefits as people stay at home. Chocolate sales are holding up well as people buy multi-packs, stock up the larder, and stay at home.

Cadbury, the world's second-largest confectionery group, behind newly merged global leader Mars-Wrigley, sells chocolate and also chewing gum brands such as Trident, and has seen overall global confectionery growth starting to slow over the last six months.

The Birmingham-based group said its worldwide global chocolate sales were up 6 percent in 2008, with its flagship Dairy Milk brand 11 percent up in the full year after a 9 percent rise in the first-half.

The group had seen a particularly strong second half of 2008 in Britain, helped by the re-launch of its Wispa bar and its new Creme Egg Twisted product.

This helped push the group's British chocolate market share up by 0.5 percentage points to nearly 30 percent, almost back to the level seen before a salmonella-linked product recall in 2006 sent Cadbury's market share down.

This compares with other major players in the market such as the privately owned U.S. group Mars on 25 percent and Swiss-based Nestle on 16 percent.

No comments:

Post a Comment