Euromonitor says the gradual loosening of sanctions in 2016 which will make dealing in Iran easier for key importers like Mars and Turkey's Yildiz Holding, which owns Godiva. Domestic manufacturers have also benefited from easier importation of raw materials and export of finished products. Due to these positive factors and strong potential, chocolate confectionery is expected to record retail value growth of 10% in 2016.
Parand Chocolate Company will maintain its lead in 2016, accounting for a 20% retail value share of chocolate confectionery. The company has a long history in the production and distribution of chocolate confectionery and offers a wide portfolio ranging from boxed assortments to tablets with different cocoa content. The company’s key brand, Farmand, enjoys a strong penetration level inside the retail environment, even in remote areas, the consultancy said.
Chocolate confectionery is expected to see better performance compared to the review period (2011 to 2016) as it starts off a low base and Iranian youth are ready to pay more for it. Key domestic manufacturers are expected to improve the quality and packaging of their products and transition consumers from traditional unpackaged products to modern packaged versions. Overall, chocolate confectionery is expected to record a CAGR of 7% at constant 2016 prices during the forecast period (2016 to 2021) which is much higher than the review period figure at 2%.
Parand Chocolate Company will maintain its lead in 2016, accounting for a 20% retail value share of chocolate confectionery. The company has a long history in the production and distribution of chocolate confectionery and offers a wide portfolio ranging from boxed assortments to tablets with different cocoa content. The company’s key brand, Farmand, enjoys a strong penetration level inside the retail environment, even in remote areas, the consultancy said.
Chocolate confectionery is expected to see better performance compared to the review period (2011 to 2016) as it starts off a low base and Iranian youth are ready to pay more for it. Key domestic manufacturers are expected to improve the quality and packaging of their products and transition consumers from traditional unpackaged products to modern packaged versions. Overall, chocolate confectionery is expected to record a CAGR of 7% at constant 2016 prices during the forecast period (2016 to 2021) which is much higher than the review period figure at 2%.
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Buy the Euromonitor Confectionery in Iran report (December 2016)