North America Chocolate Market - Growth, Trends and Forecasts (2019 - 2024)

North America Chocolate Market is segmented by Type (Milk/White Chocolate, Dark Chocolate); by Product ( Softlines/ Selflines, Boxed Assortments, Countlines, Seasonal Chocolates, Molded Chocolates, Others); by Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channels, Other Distribution Channels) and Geography

Market Snapshot

north america chocolate market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Segment:

Online Stores

Key Players:

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North America Chocolate Market

North America Chocolate Market is was valued at USD 24.25 billion in 2018  projected to witness a CAGR of around 3.5% over the forecast period 2019-2024.

  • Impulse purchasing and rising interest in premium and seasonal chocolates are some of the important factors driving the North America chocolate market.
  • Health concern related to high sugar content is restraining the growth. However, it is providing an opportunity for companies to come up with low-sugar and organic chocolates. 

  • Health benefits associated with the consumption of organic and dark chocolate, coupled with increasing demand for chocolates across various applications including confectionery products and flavored food has further propelled chocolate demand in North America.

Scope of the Report

North America Chocolate Market is segmented by Type (Milk/White Chocolate, Dark Chocolate); by Product ( Softlines/ Selflines, Boxed Assortments, Countlines, Seasonal Chocolates, Molded Chocolates, Others); by Distribution Channel (Supermarkets/ Hypermarkets, Specialist Retailers, Convenience Stores, Online Channels, Other Distribution Channels) and Geography

Type
White Chocolate
Dark Chocolate
Product
Softlines/Selflines
Boxed Assortments
Countlines
Seasonal Chocolates
Molded Chocolates
Other Product Types
Distribution Channels
Supermarket/Hypermarket
Convenience Stores
Specialist Stores
Online Stores
Others
Geography
North America
United States
Canada
Mexico
Rest of North America

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Key Market Trends

Hershey's Remains a Prominent Player in the Region

The US chocolate market is dominated by leading chocolate companies including Hershey's, Mars, Lindt, and Nestle, which hold a majority of the market share. These companies are constantly innovating and adjusting their product offerings according to market demand. The release of Mars Wrigley Confectionery’s white chocolate M&M’s and Twix dark chocolate in 2017 are examples of brands that are following the consumer demand for healthier and higher-quality products. These chocolate products come in different appearances and differentiated packaging. They are mostly displayed in the confectionary passage and at the checkout point of the stores to catch the attention of the buyers.

us chocolate companies

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Expanding Segment of Premium Chocolates

The sales of low-quality chocolate have been declining due to the increased preference for premium chocolates. Innovative flavors act as a major driver for this market. Additionally, innovative packaging has said to further drive the market. Categories such as Novelty Chocolates, Sugar-Free Chocolates, Gift Boxes, and Snack Size Chocolate Bars are widely sold in the U.S., with items greater than 35 oz being the most sold category. The rise in income along with an increased indulgence for sweet food is attributed to larger packets of chocolate being preferred. Additionally, the premium chocolate segment in the United States is expanding and it can be a huge opportunity for entrepreneurs focusing on this segment.

 

us chocolate

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Competitive Landscape

The North America Chocolate market is highly consolidated with various multinational players accounting for the major share. The Hershey Company and Mars, Incorporated and its Affiliates dominate the market with more than 50% of the value share.  The most active companies in the market include key players, such as  The Hershey Company, Mars, Incorporated and its Affiliates, Ferrero, and Nestle SA. The primary strategy adopted by the key players is new product innovation that focusses on health, flavor, and packaging.

Major Players

  1. The Hershey Company
  2. Mars, Incorporated and its Affiliates
  3. Nestle
  4. Ferrero
  5. Meiji Holdings Co. Ltd.

* Complete list of players covered available in the table of contents below

na choco

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

    3. 4.3 Market Restraints

    4. 4.4 Value Chain / Supply Chain Analysis

    5. 4.5 Porter's Five Forces Analysis

      1. 4.5.1 Threat of New Entrants

      2. 4.5.2 Bargaining Power of Buyers/Consumers

      3. 4.5.3 Bargaining Power of Suppliers

      4. 4.5.4 Threat of Substitute Products

      5. 4.5.5 Intensity of Competitive Rivalry

    6. 4.6 PESTLE Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 Type

      1. 5.1.1 White Chocolate

      2. 5.1.2 Dark Chocolate

    2. 5.2 Product

      1. 5.2.1 Softlines/Selflines

      2. 5.2.2 Boxed Assortments

      3. 5.2.3 Countlines

      4. 5.2.4 Seasonal Chocolates

      5. 5.2.5 Molded Chocolates

      6. 5.2.6 Other Product Types

    3. 5.3 Distribution Channels

      1. 5.3.1 Supermarket/Hypermarket

      2. 5.3.2 Convenience Stores

      3. 5.3.3 Specialist Stores

      4. 5.3.4 Online Stores

      5. 5.3.5 Others

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United States

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

        4. 5.4.1.4 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Market Share Analysis

    2. 6.2 Most Active Companies

    3. 6.3 Most Adopted Strategies

    4. 6.4 Company Profiles

      1. 6.4.1 The Hershey Company

      2. 6.4.2 Mars, Incorporated and its Affiliates

      3. 6.4.3 Nestle

      4. 6.4.4 Ferrero

      5. 6.4.5 Meiji Holdings Co. Ltd.

      6. 6.4.6 Lindt & Sprungli

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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