Nestlé is launching its Chocobakery products in Mexico, its fourth largest market, after a successful rollout of the brand in Brazil and elsewhere in Latin America.
Nestlé has an established presence in Mexico dating back 95 years, and deep roots in the country. With this heritage, the F&B giant is able to utilize its established infrastructure, supply chain and local know-how to back its growth initiatives.
The Chocobakery portfolio consists of Choco Trio, a milk chocolate bar with crunchy biscuit bits; Choco Cookies, a soft buttery dough with a chocolate center; and Choco Biscuit, a chocolate and biscuit. The three ranges of products are sold in various varieties and formats, under the well-known Nestlé brand and local brands like Garato.
From April, Mexican consumers will be able to indulge in the Choco Trio range in three flavors: Peanut, Cookies and Cream, and Chocolate.
Corinne Gabler, Nestlé's confectionery head, commented: "Chocobakery is one of the most rapidly growing segments in confectionery in Latin America.". In Mexico, the chocolate market has grown very strongly, particularly in the tablet segment, which, while accounting for just 3% of the total, has grown 24% in the past year. In this context, we are now launching Nestlé Choco Trio in Mexico. This launch not only adds depth to our portfolio but also introduces a completely new, premium treat to Mexican consumers.
According to coherent market insights, the chocolate industry is anticipated to increase at a CAGR of 4.7% over the forecast period of 2025-2032. The industry will be US$ 130.64 Bn in 2025 and increase to US$ 180.29 Bn by 2032. The industry size is being influenced by the increasing demand for premium chocolates.
As part of Nestlé's growth strategy, the company is concentrating on fewer, 'bigger and better' global launches that offer higher growth prospects. The Chocobakery range is one of Nestlé's six 'big bets' for 2025.
The expansion into Mexico was prompted by Chocobakery's success in Brazil and the prospect of the Mexican market. Nestlé already boasts a diverse business portfolio in Mexico with more than 80 brands and 1,600 products and has revealed plans to invest $1 billion in Mexico in the next three years in an effort to increase investment in infrastructure and position the country as an export platform.
Source:
Ecommerce PLatform: (FOODBEV MEDIA Ltd.)
Company: Nestlé