Demand for chocolate in Britain has proved resilient during the economic downturn with UK retail sales seen climbing by 3.1% this year, market research firm Mintel said on Friday.
Mintel said sales this year were expected to climb to £3.69 billion($5.86 billion) building on a 4.6% rise in 2009 and 4.4% advance in 2008.
"Chocolate performed strongly during the downturn, with consumers turning to it as a low cost comfort food," Mintel's senior food and drink analyst Vivianne Ihekweazu said.
Mintel forecast that demand should continue to grow over the next few years with project sales of £4.06 billion by 2015 although the pace of the advance was seen slowing. In 2015, for example, sales growth was projected to be just 0.6%.
"Challenges for the market are on the horizon. Issues such as rising commodity prices at the VAT price rise in 2011 will increase cost across all confectionery products," Ihekweazu said, adding higher costs would be passed on to the consumer.
"However, over-riding desire for indulgence will keep the chocolate category going, helped by continued new product development," she added.
