Gourmet Chocolate Industry Growing Despite Recession

Staff Writer
Industry experts say more people are willing to pay more for quality chocolate

Photo Sasabune Omakase Modified: Flickr/erin/CC 4.0

Chocolate devotees probably aren't surprised to hear this, but today The Daily reports that the gourmet chocolate movement is on the rise.

"There has been a surge in the number of people who are willing — no, make that determined — to pay $6, $7, $8, or more, for a bar of chocolate," they say, citing the increased interest in fair trade, locally sourced, and organic products as a cause.

According to research from Vreeland & Associates, premium chocolate only accounted for 12 percent of the chocolate business in 2009, a number which will jump to 17 percent in 2014. The chocolate market itself will be worth $19 billion.

Head of Vreeland & Associates, Curtis Vreeland, expects the premium chocolate market to grow twice as fast as the total retail market, which currently grows around 6 percent a year. So expect $6 chocolates to be the norm — we can blame Mast Brothers for starting the trend.