There are innumerable industries and market niches to research in the broad and varied world of business. But some businesses are more profitable than others, and one of the most profitable is undoubtedly the food industry. In particular, the confectionery and chocolate sector is a billion-dollar industry that is still growing. In fact, it is predicted that by 2024, the global market for chocolate will amount to $139.94 billion.
Hershey and Mars are two of the most well-known names among the major participants in the field. Both businesses are well-established in the market and have been around for more than a century. While Mars owns brands like M&M’s, Snickers, and Twix, Hershey is known for its classic Hershey’s chocolate bar and Kisses. Mars outperforms Hershey in terms of revenue with an estimated $35 billion in annual sales as opposed to $7.8 billion for Hershey.
Although Hershey and Mars may be the most well-known brands of chocolate and confectionery, the business has a rich history that dates back hundreds of years. The Fry’s Chocolate Cream candy bar, invented by Joseph Fry in 1866, is thought to be the oldest candy bar ever discovered. But even earlier civilizations, like the Egyptians, developed sweets with honey and fruit, giving rise to the idea of candy.
If you want to launch your own chocolate or candy company, you might be unsure of the name. A bakery that specialized in sweets may be referred to as a pastry shop or dessert café, whereas a chocolate candy shop is sometimes referred to as a chocolatier or confectionery. It’s crucial to pick a name for your company that both clearly describes what you provide and is simple to remember. Sweet Sensations, Flour Power, Sugar Rush, or The Cake Lady are a few suggestions for appealing bakery names.
In conclusion, the confectionery and chocolate sector has a long history and is quite profitable. Although Hershey and Mars are the two major competitors, there are innumerable chances for business owners to enter the market and establish their own niche. The love of sweets is a worldwide one that hasn’t slowed down, from ancient civilizations to contemporary confectioners.
A bakery’s name needs to be thought out carefully and creatively. Use a joke or a play on words, keep the name brief and memorable, and incorporate the owner’s name or a distinguishing aspect of the bakery, such a specialized item or location. Additionally, it’s critical to confirm that the name has not already been registered as a trademark by another company and to take into account how the name will appear on signage and marketing materials.