Chocolate Confectionery in Iran: New research report available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Mar 20 2015

Two main factors continued to influence sales of chocolate confectionery in Iran during 2014. While demand grew as a result of the low base from which the category is rising and the strong demand among Iran’s young population for chocolate confectionery, the difficult economic situation and high rate of inflation continued to hamper growth in the category. International trade sanctions, meanwhile, also resulted in players in the category experiencing serious issues, especially the leading importers of chocolate confectionery. Although these trade sanctions do not explicitly target Iran’s packaged food industry, they have had a severe negative influence on several leading Iranian banks and the country’s financial system generally, which has made it extremely difficult to transfer money into Iran and out of the country, a situation which remains of major concern for all importers of chocolate confectionery. Domestic manufacturers in the category are also suffering significantly from the rising costs of raw materials and production. Overall, due to these negative factors and the general decline being experienced in purchasing power, chocolate confectionery declined by 1% in volume during 2014, an inferior performance to the marginally positive volume CAGR recorded in the category over the entire review period.

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Competitive Landscape

Shirin Asal Co remained the leading player in chocolate confectionery in Iran during 2014 with a 23% value share, followed closely by Dadash Baradar Co with a 22% value share. Shirin Asal Co is one of the oldest suppliers of confectionery, biscuits and cakes in the country, with almost 25 years of experience in Iran and neighbouring countries. The company offers 15 brands in chocolate confectionery including Albina, Bonito, Collection, Dream, Flora, Harmony, Hiss, Moon Light, Nani, Plenty, Prestige, Romini, Spark, Tido and Winner. One of the key pillars of Shirin Asal Co’s success in recent years has been its proactive new product developments in terms of product and packaging. The company also continues to benefit from its very strong supply chain for its raw ingredients, which is due to the fact that it has its own cocoa bean collection network in Ivory Coast, which offers it protection against interruptions and interventions in the supply of its raw materials.

Industry Prospects

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