Swiss chocolate giant Barry Callebaut said today (30 June) it sees potential for the firm in south-east Asia, India and Turkey.
This morning, the chocolatier booked an 11.7% increase in sales in local currencies to CHF3.92bn (US$3.62bn) for the first nine months of its fiscal year.
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The company said that faster growth in emerging chocolate markets had boosted revenues and that it is now in “an even better position” to tap the growth potential of “the most dynamic” chocolate markets in the world.
“As you may know, we have invested heavily in new factories in emerging markets. We now have our own production sites in China, Malaysia, Mexico, Brazil, and Russia,” Gaby Tschofen, vice president of corporate communications for Barry Callebaut told just-food.
The company opened its first chocolate factory in South America last month, at which time CEO Juergen Steinemann said the site in Brazil will serve as a platform for growth on the continent.
“Production in Brazil has commenced and we are on track with regard to the start-up of this factory. The intention to become the number one industrial chocolate maker in South America is unchanged but will take a number of years,” Tschofen said.
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By GlobalDataHowever, she added that south-east Asia, India and Turkey are countries that also offer “promising growth potential”.
In its results, the firm noted that from September 2009 to April 2010 the global chocolate confectionery market was flat in volume terms.
In the period from February to April 2010, the market began to recover and grew 3.5% in volume, driven by major markets in Western Europe, which saw 3.2% growth and the US, which saw volumes rise 7.3%.
In emerging markets, volumes in China climbed 22.9% and in Brazil rose 9.8%.
However, in Eastern Europe, volumes fell 3.1% mainly due to volume decreases in Russia.
Despite this, Tschofen said: “Barry Callebaut has managed to grow significantly against the background of this overall flat market, including in Eastern Europe.”
