Todd Stitzer, the company’s CEO, also stated that India was expected to become one of Cadbury’s most important markets in the next five years.

Although Mr Stitzer was reluctant to give specifics, he did say that the company was planning to target markets that were adjacent to its operations in countries such as India and South Africa. Mr Stitzer also predicted that per capita consumption in emerging markets would be on the increase, citing the example that on average people in the US chew 700 grammes of gum per person per year, while in Brazil the figure is 300 grammes.

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Mr Stitzer, who has been reluctant to discuss the £10.2bn ($16.4bn) takeover approach for Cadbury from Kraft, stated that 2009 has been the pinnacle year for his investment plan, with major expenditures and company reorganisation slowing down next year and into 2011.

Ginanne Brownell