Company Trend Analysis - "Ruby" Chocolate A Premium And Millennial Offering - NOV 2017
BMI View: Barry Callebaut, the Switzerland-based producer of cocoa, chocolate and confectionary products, has unveiled a new variety of chocolate called "Ruby" chocolate, which it plans to target to millennial consumers. The introduction of the new form of chocolate comes on the back of slowing global chocolate consumption and a move towards gourmet and speciality forms of chocolate.
Chocolatier Barry Callebaut, the world's leading manufacturer of high-quality chocolate and cocoa products, has unveiled a new "Ruby" chocolate, a pink toned chocolate that is the fourth type of chocolate ever to be created and comes 80 years after the launch of White chocolate (invented in the 1930s). According to the company, the chocolate will have a 'berry fruitiness and a luscious smooth texture'. "Ruby" chocolate comes from the Ruby cocoa bean which the company unlocked through a unique processing technique where no berries, artificial flavour or colour were added. As Barry Callebaut is one of the biggest suppliers of cocoa products, it will sell its chocolates to chocolate makers internationally, meaning that the "Ruby" chocolate is likely to take on many forms once sold.
The new variety of chocolate is being marketed to appeal to millennial consumers. This consumer group is typically interested in trying new things and will be attracted to the 'share' worthy experience that comes with trying the pink toned chocolate. Millennial consumers are more likely to post about their experience of trying the new variety of chocolate on social media platforms like Facebook, Instagram and Snapchat, thereby aiding the marketing and advertising of this product. Furthermore, "Ruby" chocolate responds to this young consumer's demand for a sense of exclusivity in the products they consume, as the chocolate is both unique and new. "Ruby" chocolate will also match consumer's demand for healthier chocolate, as it is naturally produced.
|Barry Callebaut Sales By Product Category|
|Revenue Sales % chg y-o-y 9 Months FY16/17 (in CHF)|
|Source: Company Results, BMI|