Ferrero Related Parties in Packaged Food (World) PDF

FERRERO & RELATED PARTIES IN PACKAGED FOOD (WORLD)
January 2020
SCOPE OF THE REPORT
Scope
Disclaimer
Much of the information in this briefing
is of a statistical nature and, while
every attempt has been made to
ensure accuracy and reliability,
Euromonitor International cannot be
held responsible for omissions or
errors.
Figures in tables and analyses are
calculated from unrounded data and
may not sum. Analyses found in the
briefings may not totally reflect the
companies’ opinions, reader discretion
is advised.
Ferrero has gone from strength to

strength in the last five years,
stepping onto the leader board of the
global packaged food industry via a
mixture of successful strategies. The
company is maintaining organic
growth within its core sweet spreads
and chocolate confectionery
categories, while also making solid
steps in the diversification of its
portfolio and the expansion of its
geographical reach. Its primary focus
for expansion in the last three years
has been the US.
© Euromonitor International PACKAGED FOOD: FERRERO & RELATED PARTIES IN PACKAGED FOOD PASSPORT 2
INTRODUCTION
Executive summary
Ferrero’s global expansion push has paid off, as the company continues to increase its
footprint across the global packaged food market, as well as cementing its presence in
Ferrero opts for M&A to
some of the core global markets, such as the US. Ferrero’s bold M&A strategy, focusing
cement its position
on the acquisition of strong brands, including Ferrara, Nestlé’s sugar confectionery
among the top 10
brands and Kellogg’s biscuits brands, have enabled the company to increase its global
packaged food
market share, as well as diversify its portfolio into new product categories. It has also
companies
expanded its knowledge bank by adding to its know-how regarding market
peculiarities, production facilities and distribution networks.
Global competition is rising due to private labels and disruptive brands attractivity.
Ferrero capitalises on Ferrero needs to keep its portfolio attractive by innovating and diversifying into new
category diversification categories. In its most mature markets, Ferrero is joining new snack categories with
and geographical the launch of Kinder Ice Cream and Nutella biscuits. Seasonal chocolate confectionery
expansion, opening new remains a key category for Ferrero. Kinder and Ferrero pralines are aiming to be part
growth horizons of all types of seasonal event across the globe, such as Ramadan, Diwali and
Christmas, with customised packaging in accordance with the celebration.
The recent palm oil discussions have opened the door to regional and global
Facing new local and
competition for Nutella spread. Milka, Lindt and smaller local brands have introduced
global competition,
new products eating into Nutella’s market share. The main threat is coming from
Nutella can count on its
companies offering completely different recipes, using traditional biscuit-based or
strong brand awareness
local ingredients. Despite this new competition, Nutella sales are still growing in every
to maintain its growth
key market except Belgium, and it remains by far the leader in foodservice.
State of Play
Exposure to Future Growth
Competitive Positioning
Confectionery
Sweet Spreads
Key Findings
Appendix
STATE OF PLAY
Top companies at a glance
STATE OF PLAY
Ferrero & related parties' global footprint
STATE OF PLAY
Company overview
▪ Strategic diversification into sugar confectionery through

the acquisition of Nestlé’s brands, coupled with US
expansion, resulted in Ferrero stepping onto the Top 10
global packaged food leader board in 2018. While the key
Ferrero value generators remain chocolate confectionery,
with Kinder and Ferrero Rocher leading the way, and sweet
spreads, where Nutella remains the hero, the newly added
sugar confectionery brands will be key to future growth.
▪ The acquisition of Kellogg’s biscuits brands in 2019 has
allowed Ferrero to diversify its portfolio by adding a new
sweet and savoury biscuits category. Deprioritised by its
former owner, the biscuit brands were in decline over
2016-2019. Ferrero aims to reverse that trend by
reorganising its entire US portfolio and by creating a
regional strategy to boost these mature brands in the US
market.
▪ Despite the overall snacks market slowing down in the key
market for Ferrero, Western Europe, the company
continues to post organic growth in all of its major markets,
due to strong brand awareness, significant investment in
innovation and a focus on seasonal products. In the US,
Ferrero has opted for multiple acquisitions to strengthen its
market momentum.
STATE OF PLAY
Kellogg acquisition drives Ferrero’s sales growth
▪ Ferrero identified early on that chocolate

confectionery sales are slowing in its core Western
European markets, as consumers are moving towards
premium snacks, which in turn is leading to decreasing
volume sales.
▪ Ferrero has, however, achieved positive results due to
its strategic focus on organic growth through
innovation and brand positioning. The expansion of
Kinder products in mature markets, such as Italy and
Germany, and the introduction of seasonal tailored
products in emerging markets, such as China, have
helped Ferrero to gain share.
▪ To counterbalance its strong reliance on mature
chocolate confectionery markets, the company has also
started working on brand portfolio expansion, with
M&A becoming the key source of Ferrero’s growth
between 2016 and 2019. Unlike many other big
players, which are hunting for promising start-ups,
Ferrero acquired some highly reputable names in the
industry, including the Belgian biscuits brand Delacre
in 2016, the US sugar confectionery company Ferrara
in 2017, Nestlé’s US confectionery brands in 2018 and
Kellogg’s US snacks and baked goods in 2019.
STATE OF PLAY
Ferrero strengthens US growth momentum organic strategies
The lifting of the US ban on foods incorporating non-food elements allowed Ferrero to
utilise its double compartment format of the Kinder Egg, which was originally created
for markets with a warm climate, and enter the US chocolate with toys category,
launching its Kinder Joy brand in 2017. The children-focused brand was well received by
consumers, and Ferrero saw 60% growth in sales of Kinder Joy in 2019, which was three
times higher than that seen in Western Europe.
Having achieved strong brand awareness for Kinder, Ferrero continues gaining
momentum in US, and aims to increase its customer base with the launch of Kinder
Bueno in November 2019, which seeks to establish a premium positioning within
countlines. The product will be available in two formats: the classic two bars and a four
bar format exclusive to the US. Unlike Kinder Joy, Kinder Bueno is not limited to children
as the target audience, and is targeting children and adults simultaneously.
Ferrero is set to strengthen its seasonal confectionery range in the US, powered by the
exclusive launch of Ferrero Golden Gallery Signature assortment in 2019. Competing
with Russel Stover, Godiva and Lindt, it marks the ambition of Ferrero to develop its
premium chocolate confectionery offer. Now that Ferrero has strengthened its presence
in the US market, premium products will be able to find some space on the shelves of
national retailers, such as Walmart and Target.
Source: Ferrero website
STATE OF PLAY
Ferrero diversifies into biscuits in the US through M&A
▪ Ferrero has opted for a different M&A strategy to other global

packaged food companies. Unlike Kellogg’s and Nestlé, Ferrero
is not looking to acquire small disruptive companies focused on
a niche market. Ferrero continues to acquire large and well
established brands that add to its global knowledge, particularly
with regard to regional distribution and production facilities.
▪ By adding Kellogg's brands to its portfolio, Ferrero has entered
the biscuits category in the US, with the Keebler, Famous Amos,
Murray and Mother’s brands. These brands were deprioritised
by its former owner, so Ferrero’s immediate challenge is to
improve their performance by working on the brands’ image,
production and nationwide distribution. In 2019, Ferrero
bought a new distribution centre in Pennsylvania, with the aim
of improving its distribution and targeting strategic areas across
the country.
▪ As part of the latest M&A deal, Little Brownie Bakers – a non-
retail brand – has joined Ferrero’s portfolio. This brand is
exclusively targeted to supply to the traditional Girl Scout
movement, which raises funds through cookie sales. Girl Scout
cookie had an 11% share in the US market in 2019. As it is very
traditional, Ferrero will not be able to influence the brand;
however, it is a profitable business and is well aligned with
Ferrero’s target consumer base.
State of Play
Confectionery
Sweet Spreads
Key Findings
Appendix
EXPOSURE TO FUTURE GROWTH
Confectionery in the US projected to boost Ferrero’s sales
▪ If Ferrero continues to operate in its

current markets and categories, the US is
projected to remain the largest asset for
Ferrero’s future growth. By attacking the
market through different categories
simultaneously in recent years, Ferrero
now has the capacity to understand the
market’s needs. The success of the Kinder
Joy launch is offering new organic growth
opportunities for the company via the
introduction of its existing brands and
Italy, product range to the US market.
Chocolate
Confectionery
29 UDS million
▪ The sharp devaluation of the Russian
rouble has led to significant price
increases in chocolate confectionery and
thus an increase in Ferrero’s value sales
in Russia. Beyond a more favourable
macroeconomic climate, the company
enhances its brands’ image with effective
marketing campaigns and TV advertising,
particularly for the Raffaello range, which
has been positioned as a go to gift for
loved ones for many years.
EXPOSURE TO FUTURE GROWTH
Top 10 food companies are set to keep their market position
▪ Although the food industry is

increasingly seeing the entry of
new small and agile players, as
well as private label, the top 10
packaged food companies are
expected to remain stable over
2019-2022, capitalising on their
strong financial muscle, strategic
thinking and leadership.
▪ With the new concerns regarding
sustainability and healthy living,
many players are progressively
reshaping their portfolios and are
specialising in targeted packaged
food sectors. It allows them to
succeed in innovation and supply
chain, such as in health for Nestlé,
confectionery and sweet biscuits
for Ferrero and Mondelez, and
savoury biscuits for PepsiCo.
State of Play
Confectionery
Sweet Spreads
Key Findings
Appendix
COMPETITIVE POSITIONING
Big confectionery players lose ground to smaller companies
▪ The top 10 global packaged food companies

succeeded in increasing their sales over the
2016-2019 period, but only PepsiCo managed
to maintain its market share. The rest of the
leaders faced competitive pressure from
smaller disruptive and, in most cases, local
brands, as well as private label, eating into
their market shares.
▪ In the past, private label was considered a
low-priced and low-quality alternative to well
known branded products. More recently,
however, private label retailers in mature
markets have reshaped their offering and
positioning, and now offer ethically sourced,
locally sourced, organic, fair trade and high-
quality premium products to their customers,
becoming direct competitors to their branded
counterparts. The success of retailers’ private
label products lies in their flexibility and
adaptability to consumer demands, as well as
their ability to offer affordability and high
standards across a multitude of product
categories.
Mars is no longer Ferrero’s biggest competitor
▪ Ferrero’s diversification into biscuits

and savoury snacks led to a change in
its competitive landscape, with
Mondelez replacing Mars as its largest
competitor, owing to Mondelez’s strong
presence in US sweet biscuits and
savoury snacks, as well as in Ferrero’s
traditional areas of sugar and chocolate
confectionery.
▪ Ferrero’s heritage chocolate spread
Nutella sees more local than global
competitive pressure, with Yildiz
Holding leading chocolate spread sales
in Turkey, and Rigoni di Asiago and
Hershey’s being strong competitors in
Western Europe and North America,
respectively.
▪ While Nutella remains the global name
for chocolate spreads globally,
consumers are interested in new
products, particularly ones with a more
targeted positioning, be it locally
sourced, healthier or fortified.
The US and Western Europe are Ferrero’s key markets
Leader in its core industries, Ferrero is entering new categories
▪ Ferrero’s traditional business is at its peak. The company is an undeniable leader across both sweet spreads
and chocolate confectionery within Germany, France, Italy and Poland, and has a strong presence in all of the
major markets. The foremost goals of the company is to sustain its leadership in its traditional categories and
key markets, while looking for the new growth opportunities.
Savoury biscuits in the US Ice cream in Western Europe
▪ Having put diversification at the top of its agenda, ▪ Ferrero has also stepped into a new category for the
Ferrero is exploring a couple of completely new company in its traditional Western European markets –
product categories. As part of the Kellogg brands ice cream – with the launch in 2018 of Kinder ice cream,
acquisition, the company gained the Keebler in partnership with Unilever. Using this strategic set-up,
portfolio in 2019, and thus entered the savoury Ferrero has extended its brand name into a new territory,
biscuits industry in the US. While new to Ferrero, while production and distribution are still managed by
the Keebler brand is well established in the Unilever. The company is thinking ahead, and in 2019, it
country, and this strategic move into the new acquired a controlling stake in Ice Cream Factory
category could open new doors for potential Comaker (ICFC), a Spanish manufacturer exporting ice
expansion in an area where sales are growing cream to 15 countries, which could in the long run
nationally and globally. produce Kinder Ice cream, while Unilever would continue
to manage distribution.
Kinder is the leading packaged food brand in Germany
Raffaello, a key and emblematic product in Eastern Europe
▪ Originally introduced in Russia in the 1990s, with an advertising campaign in collaboration with the Bolshoi
Theatre, the Raffaello brand instantly got the identity of a premium light and delicate chocolate. Since then, the
product has crossed the Russian border and become the favourite Ferrero product in many Eastern European
countries. In Poland and in Russia, the Raffaello brand accounts for around 20% of Ferrero’s total value sales.
▪ Raffaello is currently being marketed in Russia under the “how you love” hashtag, supported by TV, social
media and print advertising portraying love stories, with Raffaello being the sign of love. The latest addition
was Raffaello Raspberry. In Poland, the brand opted for an occasion specific marketing campaign for Mother’s
Day.
▪ Ferrero has attracted Eastern European consumers with the Raffaello brand, due to its adaptability to different
consumption occasions, offering a bundle of three chocolates in flexible plastic packaging for impulsive
indulgent moments, along with a multitude of more sophisticated package types suitable for gift giving.
Romance and elegance are attributes consistently communicated by the brand, leading to Raffaello becoming a
benchmark for the premium end of the confectionery industry.
Source: Ferrero video
Occasion-based targeting works well for Ferrero Rocher
Appealing to the gifting culture in China, Ferrero has successfully targeted the wedding gift
segment through its customisable Ferrero Rocher offering via a specially developed online
platform. Within the bricks-and-mortar arena, the company uses a multitude of pack formats,
targeting impulse buyers with a three chocolate pack and offering up to a 30 chocolate pack for
wider sharing occasions.
In Europe and North America, Ferrero is well known for its seasonal products. Ferrero
continues to innovate and seek to entertain its seasonal consumers. In 2019, Ferrero
launched a praline Easter egg and an advent calendar to target two of the most celebrated
Christian landmarks. In Paris, in 2019, Ferrero was one of the few companies sponsoring
Christmas decorations on the Champs-Elysees. This offers strong brand visibility, and reflects
the company’s goal to become a key brand during seasonal celebrations.
Ferrero Rocher is one of the top selling chocolates during Ramadan in many Middle Eastern
countries. Every year, Ferrero launches a limited edition assortment, together with a new
advertising campaign illustrating a family reunited for Iftar.
Similarly, Ferrero Rocher has targeted Diwali in India, with a powerful campaign promoting the
“golden experience”, paired with large golden displays and a photo booth in selected stores,
enabling consumers to send customised Diwali e-cards.
Source: Ferrero website
State of Play
Confectionery
Sweet Spreads
Key Findings
Appendix
CONFECTIONERY
Eastern Europe holds strong opportunities for confectionery
▪ Western Europe remains the biggest

confectionery market in the world,
and Ferrero’s confectionery brands
are well established. Although
confectionery consumption is
slowing, Ferrero’s innovation and
brand awareness have enabled it to
outgrow the overall industry.
▪ Ferrero has successfully identified
the white spaces within Latin
America and Eastern Europe, and
the company has adapted its
communication and distribution to
grow its sales in these regions.
▪ Within Asia Pacific, the second
largest region for confectionery,
Ferrero is only slowly establishing a
presence, and is a market follower
rather than a leader. However, with
the recent opening of its Singapore
R&D office, Ferrero aims to improve
its position in Asian markets.
CONFECTIONERY
The US remains the region with the wider brand portfolio
▪ Ferrero continues reaping the benefits of

the strong presence of its Ferrero Rocher
and Kinder brands in chocolate
confectionery in all of the key markets. The
brands have been able to adapt to local
market demands and appeal to a wide
range of consumers around the globe.
▪ The company chocolate portfolio is
balanced by sugar confectionery in Brazil
and the US. Its presence in strong sugar
confectionery in the US is a result of the
acquisition of the Ferrara brands. In Brazil,
many Ferrero brands have been
simultaneously launched on the market.
Consequently, sales are more equally
divided between the two categories.
▪ Ferrero continues building its sugar
confectionery brand Tic Tac, expanding its
range with new mint flavours, such as the X
Freeze in 2019, and new limited editions,
like a Valentine’s Day assortment, as well
as, more recently, a Coca-Cola assortment.
CONFECTIONERY
Sugar confectionery opportunities largely confined to the US market
▪ On the basis that Ferrero continues

operating its confectionery business
within its current markets, chocolate
confectionery brands will remain key
for future growth. The company’s focus
is, however, shifting to generating
value in new or less developed
markets, such as Eastern Europe, Latin
America and Asia Pacific, while
maintaining its presence in its core
Western European markets.
▪ The single most important market for
Ferrero’s growth in the short term is
the US, where the company will be
progressively launching Kinder
products, along with developing a
sustainable growth strategy for its
dynamic sugar confectionery brands,
such as Trolli, Bob's Sweet Stripes and
Black Forest. For example, in 2019,
Trolli launched a campaign
emphasising the bright colours of its
chewy sweets.
CONFECTIONERY
Success for the new Nutella biscuits in France and Italy
▪ Ferrero has cemented its presence in biscuit categories via M&A in the US,
while the company also developed and successfully launched its own
Nutella branded sweet biscuit product in France and Italy in 2019.
▪ Ferrero chose France as the first market for the launch of the new
product, in April 2019, due to France being the second largest sweet
biscuit market in Western Europe, as well as a highly fragmented one,
featuring the highest number of biscuit brands in the region.
▪ In November 2019, Ferrero brought Nutella Biscuit to its market of origin,
Italy. Here, Ferrero had to face strong competition from Barilla’s Mulino
Bianco, which accounted for 19% of sweet biscuit sales in 2019. Nutella’s
biscuit pricing was aligned with that of its key competitor, and both
products have a similar shape, composition and therefore premium and Source: Euromonitor
indulgent positioning.
▪ The success of Nutella’s launch in biscuits was a result of its strong and
highly merchandising-centred strategy, as the new biscuit entered retail
with large shelf space across retail channels, so it cannot be missed by
consumers. This, paired with excitement regarding Nutella’s brand
innovations, resulted in a complete sell out of the product in some regions.
▪ In January 2019, Barilla launched a Pan di Stelle chocolate spread. Ferrero
and Barilla are now competing in sweet spreads and in sweet biscuits in
Italy, with both having a very strong brand positioning in the country.
Source: Mulino Bianco website
State of Play
Confectionery
Sweet Spreads
Key Findings
Appendix
SWEET SPREADS
Sweet spreads offers strong growth opportunities in Asia Pacific
▪ Nutella’s biggest market remains Western

Europe, and it is the leading sweet spread brand
in the region. It is well-known to consumers and is
present in many foodservice outlets. The brand
has continued to grow, despite concerns
regarding its palm oil content.
▪ In North America, Nutella faces tough competition
from traditional peanut butter, which is a staple
product. Consumers are typically not attached to
one particular brand and look to buy the most
cost-effective product. Nutella is not able to
compete with peanut butter prices due to raw
material costs. In recent years, Nutella has
worked on different marketing strategies to
increase brand awareness and differentiate itself
from competitors.
▪ Sales to foodservice are an important part of the
brand’s revenues. Deprioritised in the past,
Nutella has recently created new packaging
adapted to professionals and has increased its
partnerships with local food chains, developing
new recipes seen as more indulgent by consumers
in comparison to the retail version of Nutella.
SWEET SPREADS
Diverse marketing campaigns to push Nutella’s sales in the US
For Pancake Day, Nutella gives away free sample using For January 2020, Nutella offers a Nutella weekend
the “send me a sample” solution breakfast experience in the Napa Valley
▪ In the US, Pancake Day remains popular. Following ▪ Nutella is creating a contest, asking consumers to
the Western Europe strategy, Nutella aims to be create a 60-second video expressing how Nutella
linked to this celebration. In February 2019, “makes your morning even more special”.
consumers were able to order a free sample of ▪ The three winners will be invited to a private
Nutella through their Amazon Alexa or Google property in the Napa Valley, turned into a Nutella
Assistant. pop-up hotel. They will spend three days and two
▪ Nutella appears to be aiming to reach a new nights at the property, and experience different
generation of consumers, through this recent activities, such as a creative breakfast hosted by a
technology; however, customers had first to register professional chef.
on the “send me a sample” website before ordering
the product using a voice command.
Source: Send me a sample and Nutella websites
SWEET SPREADS
Western Europe remains the key market for Nutella spread
▪ Nutella spread continues to perform

well in Western Europe. For years,
Nutella was considered the premium
product in the category, and
competitors were mainly private
label. New companies are now
offering healthier or more
sustainable options, which are more
aligned with consumers’ concerns.
▪ Private label and smaller players
have launched palm-oil free and
organic spreads. Other
manufacturers, such as Lindt, are
joining the spread category with
products containing a high
percentage of natural ingredients,
such as chocolate and hazelnuts.
▪ Brazil, Russia and Poland have not
been impacted by the ingredient
scandal. Nutella spread is still
considered as a premium product,
and has fewer competitors than in its
other leading markets.
SWEET SPREADS
In mature markets, new small sweet spread players are growing
▪ Based on Ferrero’s current market presence

in sweet spreads, its sales are expected to
grow in France and in Italy. However, such
factors as the healthy lifestyle trend might
slow Nutella’s sales.
▪ Ferrero continues its expansion in Latin
America and the Middle East. In Brazil,
Nutella spread has launched two new
packaging formats targeting consumers
seeking value for money, as well as those
wanting smaller product quantities, while
allowing themselves to indulge in a less
healthy treat. Also, the company has
improved its distribution system in the
country, which is known to be a major
challenge for foreign players.
▪ In Turkey and in the U.A.E, Ferrero is the
leading player in sweet spreads, as Nutella is
part of the breakfast habit of both children
and adults. The company has established a
strong distribution network, featuring
dedicated aisles for Nutella and other Ferrero
products in major hypermarkets.
State of Play
Confectionery
Sweet Spreads
Key Findings
Appendix
KEY FINDINGS
Key findings
Ferrero’s global expansion push has paid off, as the company continues to increase its
footprint across the global packaged food market, as well as cementing its presence in
Ferrero opts for M&A to
some of the core global markets, such as the US. Ferrero’s bold M&A strategy, focusing
cement its position
on the acquisition of strong brands, including Ferrara, Nestlé’s sugar confectionery
among the top 10
brands and Kellogg’s biscuits brands, have enabled the company to increase its global
packaged food
market share, as well as diversify its portfolio into new product categories. It has also
companies
expanded its knowledge bank by adding to its know-how regarding market
peculiarities, production facilities and distribution networks.
Global competition is rising due to private labels and disruptive brands attractivity.
Ferrero capitalises on Ferrero needs to keep its portfolio attractive by innovating and diversifying into new
category diversification categories. In its most mature markets, Ferrero is joining new snack categories with
and geographical the launch of Kinder Ice Cream and Nutella biscuits. Seasonal chocolate confectionery
expansion, opening new remains a key category for Ferrero. Kinder and Ferrero pralines are aiming to be part
growth horizons of all types of seasonal event across the globe, such as Ramadan, Diwali and
Christmas, with customised packaging in accordance with the celebration.
The recent palm oil discussions have opened the door to regional and global
Facing new local and
competition for Nutella spread. Milka, Lindt and smaller local brands have introduced
global competition,
new products eating into Nutella’s market share. The main threat is coming from
Nutella can count on its
companies offering completely different recipes, using traditional biscuit-based or
strong brand awareness
local ingredients. Despite this new competition, Nutella sales are still growing in every
to maintain its growth
key market except Belgium, and it remains by far the leader in foodservice.
State of Play
Confectionery
Sweet Spreads
Key Findings
Appendix
APPENDIX
Projected company sales: FAQs (1)
Why project company sales?

▪ Company and brand sales projections are a useful way to compare
relative future performance. These are not forecasts in the traditional
sense, as it is not realistic to forecast company activity. Instead our
projections are a measure of a company's exposure to future growth.
How do you project company sales?

▪ Euromonitor International's company and brand sales projections are
made with two underlying assumptions. Firstly, that current year brand
shares will not change. Secondly, that there will be no mergers,
acquisitions or divestments in the future. Forecasting shares is
notoriously difficult and therefore we assume that a brand's share of any
given category will remain constant in the future. Trying to accurately
predict future M&A activity is equally fraught with difficulty.
▪ Every category will, however, grow at a different rate, and the
cumulative effect across different brand portfolios (ie every relevant
country-category combination) means certain companies will
outperform others.
▪ This is “market momentum” and is a measure of a company operating in
higher growth countries and categories relative to its rivals.
APPENDIX
Projected company sales: FAQs (2)
What is the basis for this methodology?

▪ Based on Euromonitor International's growth decomposition analysis, it
is evident that general market momentum is the single most important
contributor to company performance, outperforming the impact of both
market share gains and M&A activity. (Clearly this does not apply in any
circumstance where a given company has made a major acquisition or
divestment.)
▪ This conclusion is based on analysing all brand and company sales data
in every category and company in Passport.
▪ For the largest companies, market momentum shows even greater
significance, so exposure to growth offers a sound basis for projecting
relative future performance.
▪ Note: Growth decomposition and projected sales are based on the sum
of all activity in researched countries only, and therefore do not take into
account the effect of non-researched (modelled) markets. For this
reason, there will be slight differences compared with the full global data
found elsewhere in this report.
FOR FURTHER INSIGHT PLEASE CONTACT
Margaux Lainé
Analyst Associate, Food and Nutrition
margaux.laine@euromonitor.com
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FERRERO & RELATED PARTIES IN PACKAGED FOOD (WORLD)

Ferrero has gone from strength to

Top companies at a glance

Ferrero & related parties' global footprint

▪ Strategic diversification into sugar confectionery through

Kellogg acquisition drives Ferrero’s sales growth

▪ Ferrero identified early on that chocolate

Ferrero strengthens US growth momentum organic strategies

Ferrero diversifies into biscuits in the US through M&A

▪ Ferrero has opted for a different M&A strategy to other global

Confectionery in the US projected to boost Ferrero’s sales

▪ If Ferrero continues to operate in its

Top 10 food companies are set to keep their market position

▪ Although the food industry is

Big confectionery players lose ground to smaller companies

▪ The top 10 global packaged food companies

Mars is no longer Ferrero’s biggest competitor

▪ Ferrero’s diversification into biscuits

The US and Western Europe are Ferrero’s key markets

Leader in its core industries, Ferrero is entering new categories

Kinder is the leading packaged food brand in Germany

Raffaello, a key and emblematic product in Eastern Europe

Occasion-based targeting works well for Ferrero Rocher

Source: Ferrero website

Eastern Europe holds strong opportunities for confectionery

▪ Western Europe remains the biggest

The US remains the region with the wider brand portfolio

▪ Ferrero continues reaping the benefits of

Sugar confectionery opportunities largely confined to the US market

▪ On the basis that Ferrero continues

Success for the new Nutella biscuits in France and Italy

Sweet spreads offers strong growth opportunities in Asia Pacific

▪ Nutella’s biggest market remains Western

Diverse marketing campaigns to push Nutella’s sales in the US

Source: Send me a sample and Nutella websites

Western Europe remains the key market for Nutella spread

▪ Nutella spread continues to perform

In mature markets, new small sweet spread players are growing

▪ Based on Ferrero’s current market presence

Projected company sales: FAQs (1)

Why project company sales?

How do you project company sales?

Projected company sales: FAQs (2)

What is the basis for this methodology?

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