Europe’s economic crisis is nibbling away at demand for chocolate, the affordable treat once thought of as recession proof.
Times are tough enough now that even the market for this modest luxury is struggling in Europe, analysts say.
“For the first part of the recession we thought chocolate would be recession proof, and then we said recession resistant, and now I think people are just getting ground down,” said Marcia Mogelonsky, global food and drink analyst at Mintel.
“I have not seen this much of a slowing in the market in the time I’ve been watching it.”
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