Market Chosen: Chocolate
Segmentation Model: Demographics by Region
Chocolate is an 83 billion industry worldwide (“Who Consumes the Most Chocolate?” 2012).
Europe: 49.32% = 40.94 Billion
North America: 24.22% = 20.10 Billion
Asia and Oceania: 14.49% = 12.03 Billion
South America: 8.68% = 7.20 Billion
Africa: 3.28% = 2.72 Billion
Chocolate is the most popular where it is the rarest and the country with the most wealth. In an article by Slate Magazine, the writer reports on why Switzerland consumes and produces the most chocolate products. “Few cocoa-producing countries are big chocolate consumers because chocolate is a luxury,” notes Brian Palmer, “wealthy Western Europe constitutes 6 percent of the world’s population, but eats 45 percent of its chocolate.” Africa, which produces 2/3’s of the world’s chocolate (Maverick), only consumes 3.28% of the product. Many South American countries such as Peru and Mexico are the top exporters of cocoa, which explains why South America is the second least consumer of chocolate.
Mattyasovszky, Miklos. “Top 10 Cocoa Producing Countries.” WorldAtlas, WorldAtlas, 22 Apr. 2015, www.worldatlas.com/articles/top-10-cocoa-producing-countries.html.
Maverick, J.B. “The 4 Countries That Produce the Most Chocolate.” Investopedia, Investopedia, LLC., 30 Sept. 2015, www.investopedia.com/articles/investing/093015/4-countries-produce-most-chocolate.asp.
Palmer, Brian. “Switzerland Is the Last Place on Earth Where You’d Grow Cocoa. So Why Do the Swiss Eat So Much Chocolate?” Slate Magazine, The Slate Group, 11 Oct. 2012, www.slate.com/articles/life/explainer/2012/10/nobel_prize_and_chocolate_why_the_swiss_eat_and_produce_so_much_chocolate.html.
“Who Consumes the Most Chocolate?” CNN, Cable News Network, 17 Jan. 2012, thecnnfreedomproject.blogs.cnn.com/2012/01/17/who-consumes-the-most-chocolate/.