The consumption of chocolate in Russia in 2020 decreased from 7 to 6 kg per capita

Published 2021년 3월 1일

Tridge summary

The Russian chocolate industry experienced a decrease in per capita consumption in 2020, driven by a shift towards cheaper chocolate products and other food categories. Facing rising costs due to currency fluctuations, chocolate makers have cut imports of cocoa butter and experimented with alternative ingredients to maintain margins. The market is saturated with a stable consumption range of 6-7 kg per capita per year, but there is potential for growth in products with a high cocoa percentage due to the healthy lifestyle trend. Export of chocolate products increased by 8% in 2020, with China and CIS countries as the main buyers.

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Original content

At the same time, the production of chocolate products for export will continue to increase, and this sub-industry may become an example for other agricultural sectors % in 2020 - from 7 to 6 kg per capita per year. In response to rising costs associated with currency fluctuations, chocolate makers have cut imports of their main ingredient, cocoa butter, and started switching to cheaper ingredients. This approach helps to maintain margins in the short term, analysts from the Center for Industry Expertise at Rosselkhozbank say. “The decline in chocolate consumption in 2020 is due to both a partial shift in demand to cheaper chocolate-containing sweets and to other, more nutritious food categories with flour and sugar,” said the head of the center, Andrey Dalnov. Ingredients such as cocoa butter or cocoa beans are not produced in Russia and are difficult to replace in traditional chocolate recipes. “Changes in exchange rates and, as a result, growth in the cost of chocolate products ...

Source: Specagro