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The chocolate industry is in the midst of a significant transformation, challenged by the rise of private label alternatives.
In Europe, consumers are turning to private label chocolates due to increasing food prices. Similarly, in the U.S., private label sales have surged by almost 9%, despite substantial price hikes, as reported by IRI data.As the cost of chocolate remains a concern, consumer preferences are changing, particularly among younger generations who are more open to trying new brands and products.
So, what can major chocolate brands do in this evolving landscape? Could Food AI or AI for product development help? Download our report below to know more.