Wedel reports growth in chocolate market despite rising costs

Lotte Wedel has released its fifth report on the global and Polish chocolate confectionery markets, highlighting a trend of increasing market value despite fluctuations in sales volume. The global chocolate market was valued at 130 billion euros last year and is projected to exceed 147 billion euros by 2030.

In Poland, the chocolate confectionery segment accounts for over 60% of the nearly 23 billion PLN sweets market. While the value of this category grew by 5.1% year-on-year to approximately 13.8 billion PLN, the actual volume of products sold decreased by 2.6%. Wedel Managing Director Maciej Herman attributed the volume decline to depopulation and rising prices driven by volatile cocoa costs, energy prices, and geopolitical instability.

Wedel is also planning international expansion for its Ptasie Mleczko brand. To facilitate global growth, the company intends to use a new international name, as the literal translation ‘Bird’s Milk’ can be confusing for foreign consumers. Currently, Wedel holds a 12.1% value share in the Polish chocolate market.