The Valentine's Day candy season is poised for growth in 2023 with year-over-year sales expected to grow 5% to around $4bn, despite rising inflation and supply chain issues, according to the National Confectioners Association.
A rise in the North American cocoa grind is a positive sign for the mature US chocolate market, but analysts predict health-concerns will challenge future growth.
Indian joint venture Godrej Hershey is reported to be introducing chocolate products into amdist strong competition from dominant players such as Cadbury and Nestlé.