One major challenge for chocolate marketers has been the steep increase in cocoa prices over the past year. This is due, in part, to political problems in the Ivory Coast, where huge quantities of cocoa beans are grown. But global demand is increasing rapidly, as well, which means competition for available chocolate supplies (and higher supplier prices). The cost of other food commodities has also gone up, squeezing chocolate marketer's margins.
Despite these challenges, there are many profit opportunities for gourmet chocolatiers and foods that incorporate chocolate in innovative ways. Hotel Chocolat is even opening a luxury resort on its exclusive cocoa plantation in the Caribbean, building on public fascination with upmarket chocolate. Look for more choco marketing moves in 2011.
