Ferrero enjoys the sweet taste of success

The growing maturity of Chinese consumers and especially the growth of the middle-income group have helped Italian confectionary multinational Ferrero Group register faster than average growth in 2018.

According to Mauro De Felip, general manager of Ferrero China, the Chinese confectionary market has been bouncing back this year, helping to boost Ferrero's sales revenue by 4.1 percent in the 2018 fiscal year which ended in October. During the same period, the confectionary industry's average growth rate was 6 percent, according to global market consultancy Nielsen.

In China, wedding ceremonies accounted for around 15 percent of the annual sales of its signature product Ferrero Rocher, which is one of the most rapidly developing sectors in the world, said De Felip.