Chocolate is yet a Luxury for most of world population. Luxury products usually occupies last place on priority list of spend. Here is the general priority of spend starting from highest to lowest priority.
6. Luxury – And chocolate comes here.
World Consumption of tea is Average 0.3kg per person per year.
At the same time world consumes average 1.3kg coffee per person per year.
As Tea and Coffee are necessities and cannot be categorized as Luxury, Spend on these is part of monthly budget of majority households in the world.
Real surprise is here. World consumes Chocolate, a luxury, at an average of 1.25kg per person per year. This is shocking when we compare consumption of tea/coffee with chocolate. Though consumption of Europe and Americas is very high compared to Asia, Asians are increasingly buying chocolates these days.
World spend big wallet of $ 83 Billion on chocolate annually. That really tells the story of chocolate craving of the world.