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Beneath the Fairy Tale of Chocolate Confectionery

Alexandru Marginean

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Photo by Marta Dzedyshko from Pexels
Reading Time: 4 minutes

The organic chocolate confectionery is a new trend due to the increasing demand from the health conscious consumers across globe. This is creating more room for new entrants and established players for product innovation to meet consumer needs and preferences.

Let’s take a dip into the history of chocolate world!

Chocolate and confectionary are the favorite sweet treat panning all ages and races. The chocolate we as consumers are consuming now a days is not the same. It was consumed as a drink called “tchocoatl”, and was favorite of Emperor of the Aztecs (now Central America), Montezuma. The Spanish conquistador, Hernando Cortez, brought the drink in 1529 to the Spain. Later, that drink became popular among Spanish royals and widely throughout the Europe. Origin of the word chocolate remains uncertain. Some linguist say the word chocolate is derived from the word “xocolatl” meaning bitter water. Whereas, Merrian-Webster points that the word chocolate entered English in 17th century, taken from Spanish word which can be tracheked down to the Nahuatl “chocolātl”.

Three centuries later chocolate was used as a non- liquid confection in Europe. In 1847, Joseph fry discovered the chocolate eating bar by adding cocoa, cocoa powder and sugar. Later, in 1849 John Cadbury created similar product as of Fry. But, both the inventions were not palatable. Then Henry Nestle and Daniel Peter created milk chocolate that was more palatable than previous ones. In 1893 Chicago World’s Fair, chocolate making machinery were introduced to the world and there was turning back for the chocolate industry. The Hershey Company, in 1900, installed the chocolate machinery and produced the first wrapped chocolate bar, The Hershey Bar. In this decade over 220 products were launched and alone in U.S. market 40 different candy bars appeared.

                                                                                            Image Source: Grand View Research

 

Chocolate that matters you the most.

Types of chocolate was a heated point of discussion in twenties, where chocolate debaters were questioning if white chocolate is really a chocolate or not as it does not contain chocolate liquor. In 2002, the U.S. Food and Drug Administration considered it as a confectionary rather than chocolate. Later, the Hershey Food Corp. and the Chocolate Manufacturers Association petitioned the FDA resulting in putting a place for white chocolate in types of chocolate.

Types of chocolate accepted globally are as follows

  • Dark chocolate – Containing chocolate liquor, cocoa butter, lecithin, sugar and vanilla
  • Milk chocolate- Has all of the above plus milk fats and milk solids
  • White chocolate- Containing everything milk chocolate does except chocolate liquor

Meet the “chocolatiers”

Nowadays, companies are focusing on product innovations, flavor innovation, marketing strategies, meeting consumers demand, understanding consumer’s preferences and setting trend in the market. Manufacturers are conducting several manufacturing and promotional activity to increase their outreach amongst the consumers by means of gift packages with chocolates, appealing packaging of products and products targeting holiday and festival seasons by keeping the end user segment in mind.

How demanding chocolate confectionery?

Chocolate confectionary market was valued at USD 123.7 Billion in 2016 and is expected to grow continuously due to decline in price of cocoa beans, growing consumerism and rising expenditure of the consumers is strengthening market growth. The cocoa bean prices in 2017 fell by around 40% as per the Financial Times. Declining price of cocoa bean is anticipated to have a favorable impact on the market growth and the manufactures profit margin.  Chocolate confectionary business is steady growing due to changing preferences of consumers for dairy and milk products. This is creating more room for new entrants and established players for product innovation to meet consumer needs and preferences.

Image Source: Grand View Research

Europe dominates the chocolate confectionary market with market share of above 30%. Europe had 12,315 companies and produced 11.7 million tons of products annually in 2014. Also, in 2015, the production increased by 2.3% reaching 11,736 million ton of product.

Go Organic

Multiple studies reveal that consumption of polyphenol-rich dark chocolate helps in improving cognition improvement and heart health. Growth in organic and free-from food sales are increasing as consumers are more inclined towards health benefit, paying attention on labels, seeking organic and natural ingredient. Organic chocolate are averagely 30% premium than the traditional market.

Several players in the industry are rapidly increasing the promotion of product line that are free of fats such as Trans and saturated fat. Also, considering the consumer growing awareness regarding health and consumption of dairy and milk product is posing vital impact on the manufactures product portfolio. Companies are also promoting products that are free from artificial flavors and sweeteners and those which contains ingredients such as   organic wheat flour, rice syrup, cane sugar and corn starch. Producers are understanding the potential of adding organic as a label in their product portfolio. For instance, U.K. based company Green&Black, where green stand for organic and black stands for dark chocolate, they launched their first product with organic dark chocolate bar containing 70% cocoa and still having the same share in their organic line. Organic line of Green&Black is available in 10 flavors, including Maya Gold the Fair Trade Mark awarded by Fairtrade Foundation UK. This trend in growing and reached up to 30 million euro value in Western Europe.

 

 

Authors Bio: – Saurabh is an experienced professional with a demonstrative work history in market research industry. He is currently working with Grand View Research is an India & U.S. based market research and consulting company provides syndicated research reports, customized research reports, and consulting services. He is working as a Senior Research Associate in the Consumer Goods domain.  He has over 2+ year of experience in research industry, supported by managing end-to-end syndicate research project, industry analysis, in-depth company profiling, value chain & supply chain analysis, and market sizing, among others. He has worked on diverse topics, such as Milk and Dairy Industry, Organic beverages, Confectionary Industry, Clothing and Apparel Industry and various industry specific studies. He holds Bachelor’s degree in Engineering from Pune University, India.

Artificial Intelligence

The Use of Artificial Intelligence by Startups and SMEs panel discussion moderated by Dr. Robert Skalina (WH Partners) at TCE2019 Prague

Zoltán Tűndik

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Leading law expert and tech compliance advisor to moderate the AI-related panel discussion at PICANTE TECH Conference Europe 2019.

 

The future is almost here and there are more and more talks about AI being a key part of our daily life. But, it seems we are not quite there yet as most of the services that are available are not the real independent AI which is feared by many doomsday preachers.

At PICANTE TECH Conference Europe (TCE2019), which will take place in Prague on the 3rd of September at Vienna House Andel’s Prague, we have put together an artificial intelligence-related panel discussion which will highlight some of the most recent topics that are discussed in the sphere and can benefit many in the upcoming period.

The panel discussion will be joined by Andjela Todorovic (Software Engineering Intern at Cubic Corporation), Jiří Třečák (CEO at Supernova), Aleksander Kijek (Chief Product Officer at Nethone) and last but not least, Vojtech Chloupek (Partner at Bird & Bird).

The futuristic thinking panel discussion will be moderated by Dr. Robert Skalina, Senior Advisor at WH Partners.

REGISTER HERE to secure your seat!

About Dr. Robert Skalina

Robert Skalina is a Czech Advocate as well as a Registered European Lawyer in Malta. He is based in Prague and works in Malta regularly.

He is financial services and corporate lawyer and provides advice to a wide range of investment managers, advisors and funds, including private equity and hedge funds. Robert also regularly advises clients in the gaming/gambling industries and has vast experience in the area of mergers and acquisitions and complex cross border transactions.

Robert has previously held the position of head of legal of a London based investment advisor active throughout the EMEA region. Prior to that, he served as legal counsel for the largest retail bank in the Czech Republic.

Robert graduated with an LLM cum laude from the London School of Economics. He holds a Master of Laws degree from the Charles University in Prague. He provides advice in English, Czech and Slovak.

PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

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Fintech

The Rise of Fintech in Europe (panel discussion) will be moderated by Simon McDermott (TECH.eu) at TCE2019 Prague

Zoltán Tűndik

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TECH.eu’s Business Development Director to take on the role of moderator for the Fintech-related panel discussion at PICANTE TECH Conference Europe 2019.

 

As mentioned in earlier press releases and news pieces, Fintech has been and is among the key trending subjects in Europe and also worldwide when it comes to technological developments.

There have been several Fintech unicorns coming out from Europe and these come under the form of TransferWise, Revolut, Monzo and Klarna.

The global Fintech investments have peaked at 35.16 billion EUR in 2018 and it is predicted that in 2019 the number will keep growing.

At PICANTE TECH Conference Europe (TCE2019), which will take place in Prague on the 3rd of September at Vienna House Andel’s Prague, we have put together a mega panel of experts which consists of experts in the field of Fintech.

The panel discussion will be joined by Jean Paul Fabri, Managing Director of ARQ Economic & Business Intelligence, Jakub Hytka, Senior Manager at EY, Andrei Cosma, Senior Associate at Simion & Baciu and Petr Ložek, Head of CEE Technology Consulting at PwC.

Such a seeded panel discussion needs a bright mind in order to work, and this is why we have invited Simon McDermott, Business Development Director at TECH.eu, to moderate the panel.

REGISTER HERE to secure your seat!

About Simon McDermott

Simon’s career as a business developer began with tech monsters Cisco Systems and then Intel Corp. Later, Simon co-founded Attentio, a pioneer in social media analytics and ever since than have worked with software start-ups and scale-ups helping them define go-to-market strategies and executing on that.

With tech.eu, Simon moderates panels, takes on the role of master of ceremonies at fireside chats for major technology events and explain their value proposition to corporate clients.

PICANTE Tech Conference Europe is designed to bring both people and knowledge together and provides the excellent ecosystem of networking and learning opportunities without interruptions with emphasis on comfort and communication. After learning from genuine world-class experts and wayseers, meeting achievers shaping the B2B ecosystem, all attendees will get the chance to grab a drink and relax while networking at the evening social gathering.

REGISTER HERE or BROWSE THE AGENDA/PROGRAM!

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Artificial Intelligence

Artificial Solutions Wipes the Board with Four Podium Positions in Stevie 2019 International Business Awards Including Most Innovative Tech Company of the Year

Vlad Poptamas

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Photo source: aithority.com
Reading Time: 2 minutes

Artificial Solutions® (www.artificial-solutions.com), the leading specialist in enterprise-strength Conversational AI, announced today it has won awards in four Stevie® 2019 International Business Awards that were announced earlier today. The company was a Silver Stevie Winner in the prestigious Most Innovative Tech Company of the Year, Software Development Solution of the Year, and Artificial Intelligence/Machine Learning Solution of the Year. It was also a Bronze Stevie Winner in the IoT Analytics Solution category of the Awards.

The Stevie Awards are the world’s premier business awards. They were created in 2002 to honor and generate public recognition of the achievements and positive contributions of organizations and working professionals worldwide. In short order the Stevie has become one of the world’s most coveted prizes. The International Business Awards® (IBA) are open to all organizations worldwide: large and small, public and private, for-profit and non profit and attracted over 4000 entries.

“Recognition in any award is an honor. To win four International Stevies in four key tech-categories, including the highly contested Most Innovative Tech Company of the Year is amazing and a massive endorsement of the whole team at Artificial Solutions who have worked so hard to make Teneo an industry-leading solution,” comments Andy Peart, CMSO of Artificial Solutions.

Stevie Award winners were determined by the average scores of more than 250 executives worldwide who participated in the judging process from May through early August.

Most Innovative Tech Company of the Year recognizes overall achievement in product innovation. Artificial Solutions entry included the wide range of advanced enhancements made to Teneo in the last 12 months that has raised the bar for other conversational AI platforms. Judges commented that Teneo’s hybrid approach and broad support linguistic and lexical factors is truly impressive and that the company really streamlines the digital transformation journey using the sophisticated AI platform.

Teneo Developers, launched earlier this year, was honored for the best tool or resources for designing, creating or testing software applications. Judges for the Software Development Solution category commented that Visual UI platform to solve the problem of conversational UI is interesting. The problem being solved here could have very high returns.

Teneo’s revolutionary hybrid approach was awarded in the Artificial Intelligence/ Machine Learning category that recognizes solutions that enable computer-based systems to exhibit intelligent behavior in complex situations to solve problems, communicate with people, and perceive and interact with the physical world. Judges commented: Very impressed with how they combined classical ML with advanced NLP. Their use cases are great, and they managed to solve real and practical problems for companies.

The IoT Analytics Solution category recognized Teneo as one of the best applications for measuring and transforming Internet of Things (IoT) data into business intelligence. Judges commented that it showed Innovative use of cutting-edge technology and was a feature rich analytics solution while adhering data privacy laws.

The International Business Awards are the world’s premier business awards program. All individuals and organizations worldwide – public and private, for-profit and non-profit, large and small – are eligible to submit nominations. The 2019 IBAs received entries from organizations in 74 nations and territories.

Nicknamed the Stevies for the Greek word for “crowned,” the awards will be presented to winners at a gala awards banquet at the ANDAZ Hotel am Belvedere, Vienna, Austria on 19 October.

 

SOURCE Artificial Solutions International AB

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