Hi, I need help with essay on Forces and Trends in Chocolate Industry. Paper must be at least 1000 words. Please, no plagiarized work!Population Growth Like any other industry, the chocolate industry

Hi, I need help with essay on Forces and Trends in Chocolate Industry. Paper must be at least 1000 words. Please, no plagiarized work!

Population Growth Like any other industry, the chocolate industry is driven by population growth. For the chocolate industry, this population growth occurs in one crucial way. This is owed to the fact that the elderly age group is anticipated to triple by 2015 (Silva and Simoes, 2010). Consequently, players in the chocolate industry must come up with inventive products that satisfy the needs of this generation. As mentioned earlier, Hershey Chocolates Company has already reacted by coming up with the Kisses dark chocolate. This product is associated with low cholesterol values and numerous antioxidants. Consequently, the product is tailor-made for the baby boomer generation. Supplier Power This refers to the company’s ability to operate regardless of the prevailing suppliers in the industry. It is necessary to note that the primary raw materials in the production of chocolates are cocoa bean, milk and secondary sugar. Therefore, with regard to the production of sugar and milk, there exist numerous suppliers in the market. Thus, supplier power in regards to these two products is limited. On the other hand, the supply of the cocoa beans is limited to only a few suppliers in the industry. This implies that the supplier power of the cocoa bean firms is extremely high. Therefore, the chocolate producing firms such as Hershey Chocolates Company must come up with effective ways of lowering the supplier power of these companies in order to remain competitive in the industry.