Market Size of north america chocolate Industry
| Icons | Lable | Value |
|---|---|---|
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 32.94 Billion |
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Market Size (2030) | USD 45.20 Billion |
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Largest Share by Distribution Channel | Supermarket/Hypermarket |
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CAGR (2024 - 2030) | 5.41 % |
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Largest Share by Country | United States |
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Market Concentration | Medium |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
North America Chocolate Market Analysis
The North America Chocolate Market size is estimated at 32.94 billion USD in 2024, and is expected to reach 45.20 billion USD by 2030, growing at a CAGR of 5.41% during the forecast period (2024-2030).
32.94 Billion
Market Size in 2024 (USD)
45.20 Billion
Market Size in 2030 (USD)
5.51 %
CAGR (2018-2023)
5.41 %
CAGR (2024-2030)
Largest Segment by Confectionery Variant
60.29 %
value share, Milk and White Chocolate, 2023
The innovative flavor offerings and the versatility of white chocolate and the varied taste profiles in the region are anticipated to drive the segment's growth.
Largest Segment by Distribution Channel
46.71 %
value share, Supermarket/Hypermarket, 2023
Consumers in the region are increasingly purchasing from supermarkets and hypermarkets due to wide offerings and expanding shelf space for innovative chocolate products.
Fastest-growing Segment by Confectionery variant
6.15 %
Projected CAGR, Dark Chocolate, 2024-2030
Rising health awareness among consumers about dark chocolate's nutritional content, flavor profile and stress-relieving ability is expected to drive the demand in the region.
Fastest-growing Segment by Distribution Channel
6.28 %
Projected CAGR, Online Retail Store, 2024-2030
Increasing product awareness, broad selection make it easier to market chocolate products directly to consumers online. Thus,the segment is expected to be the fastest-growing.
Leading Market Player
28.94 %
market share, The Hershey Company, 2022
The differentiated market strategies used by The Hershey Company, along with strong manufacturing & distribution capabilities, are contributing to its leadership position.
The North American distribution network is dominated by supermarkets/hypermarkets and other segments, which together make up almost 70% of the market share in 2023
- The overall distribution channel in North America is playing a vital role in the growth of the chocolate market. Under the overall distribution segment, the retailers offer a wide variety of chocolate products to drag the consumer focus. In addition, the retailers have segmented the chocolates into a wide variety of flavors, textures, packaging, etc. In 2023, by value, the overall share of the distribution channel registered a growth of 5.16% compared to 2022.
- By value, supermarkets and hypermarkets were considered the major retailers in North America. These retailers sell chocolates in varied price ranges (low, medium, and high). The average selling price of dark chocolate was USD 3.12 in 2023. Due to the respective aspect, consumers are majorly trending toward these retailing units as it is promoting the consumer buying power in this region.
- Convenience stores were the second largest retailers and became an important part of the retailing channel in 2022. These stores have the capability of offering a greater convenience experience to their consumers. In 2023, it was observed that Becker's owed 45 stores in Ontario.
- The online retailing segment emerged to be the fastest-growing retailer in North America in 2023. With the growing penetration of internet users, the demand for online grocery has become a crucial part of the region's retailing segment. By the end of 2021, the total number of internet users in the United States was 89.5 million, or 75.7% of the total population.
- During the forecast period (2026-2029), it is expected that the market will grow by 5.58% by value. The major factor that will be driving the chocolate industry is linked to the growing demand for premium chocolates among the population.
Understand The Key Trends Shaping This Market
The United States leads the regional value during the study period, followed by Canada together held a share of 90% by value in 2023
- The chocolate segment in North America registered a growth rate of 5.16% in 2023 compared to 2022. The diversification of flavors, increasing disposable income, and changing consumer preferences have led to the growing demand for chocolate in the region.
- The United States holds the major share in the region, supported by the highest consumption of chocolate products in the country. In 2023, the consumption of chocolates in the United States reached around USD 25,767 million, which represented a 10.1% growth from 2021. The consumer’s shift toward high-quality chocolate products, such as single-origin chocolates, handmade chocolates, dark chocolates, organic chocolates, and other chocolate products, is a significant factor driving the chocolate segment in the country.
- As consumers prefer various types of chocolates, categories such as novelty chocolates, sugar-free chocolates, gift boxes, and snack-size chocolate bars are considered premium and are widely sold in the United States. As of 2022, 78% of the consumers in the country agreed that chocolate makes them happy, and 81% of the consumers see chocolates as a fun part of life.
- Canada is the second-leading country for the sales of chocolate products in the region. The sales value of chocolates in Canada is anticipated to grow by 26.6% in 2026 compared to 2022. Canadians are becoming more health-conscious and are seeking healthier alternatives, even when it comes to indulgent treats like chocolate. Dark chocolate, which is perceived as being higher in cocoa content and containing fewer additives, has gained popularity for its potential health benefits.
North America Chocolate Industry Segmentation
Dark Chocolate, Milk and White Chocolate are covered as segments by Confectionery Variant. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel. Canada, Mexico, United States are covered as segments by Country.
- The overall distribution channel in North America is playing a vital role in the growth of the chocolate market. Under the overall distribution segment, the retailers offer a wide variety of chocolate products to drag the consumer focus. In addition, the retailers have segmented the chocolates into a wide variety of flavors, textures, packaging, etc. In 2023, by value, the overall share of the distribution channel registered a growth of 5.16% compared to 2022.
- By value, supermarkets and hypermarkets were considered the major retailers in North America. These retailers sell chocolates in varied price ranges (low, medium, and high). The average selling price of dark chocolate was USD 3.12 in 2023. Due to the respective aspect, consumers are majorly trending toward these retailing units as it is promoting the consumer buying power in this region.
- Convenience stores were the second largest retailers and became an important part of the retailing channel in 2022. These stores have the capability of offering a greater convenience experience to their consumers. In 2023, it was observed that Becker's owed 45 stores in Ontario.
- The online retailing segment emerged to be the fastest-growing retailer in North America in 2023. With the growing penetration of internet users, the demand for online grocery has become a crucial part of the region's retailing segment. By the end of 2021, the total number of internet users in the United States was 89.5 million, or 75.7% of the total population.
- During the forecast period (2026-2029), it is expected that the market will grow by 5.58% by value. The major factor that will be driving the chocolate industry is linked to the growing demand for premium chocolates among the population.
| Confectionery Variant | |
| Dark Chocolate | |
| Milk and White Chocolate |
| Distribution Channel | |
| Convenience Store | |
| Online Retail Store | |
| Supermarket/Hypermarket | |
| Others |
| Country | |
| Canada | |
| Mexico | |
| United States | |
| Rest of North America |
Need A Different Region Or Segment?
North America Chocolate Market Size Summary
The North America chocolate market is experiencing significant growth, driven by a diverse range of distribution channels and evolving consumer preferences. Retailers, particularly supermarkets, hypermarkets, and convenience stores, play a crucial role in this expansion by offering a wide variety of chocolate products in different flavors, textures, and price ranges. The rise of online retailing has further accelerated market growth, catering to the increasing number of internet users seeking convenient shopping experiences. The market is characterized by a strong demand for premium chocolates, with consumers showing a preference for high-quality options such as dark, organic, and handmade chocolates. This trend is supported by rising disposable incomes and a shift towards indulgent yet healthier chocolate alternatives.
The United States dominates the North American chocolate market, with the highest consumption levels and a strong inclination towards premium chocolate products. Canada follows as a significant market, with growing sales driven by health-conscious consumers seeking better-quality chocolate options. The market is moderately consolidated, with major players like Ferrero International, Mars Incorporated, Mondelēz International, Nestlé, and The Hershey Company leading the industry. Innovations such as premium chocolate collections and virtual shopping experiences are enhancing consumer engagement and driving sales. Overall, chocolate remains a beloved confectionery in North America, with its consumption viewed through both indulgent and health-conscious lenses.
North America Chocolate Market Size - Table of Contents
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1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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1.1 Confectionery Variant
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1.1.1 Dark Chocolate
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1.1.2 Milk and White Chocolate
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1.2 Distribution Channel
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1.2.1 Convenience Store
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1.2.2 Online Retail Store
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1.2.3 Supermarket/Hypermarket
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1.2.4 Others
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1.3 Country
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1.3.1 Canada
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1.3.2 Mexico
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1.3.3 United States
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1.3.4 Rest of North America
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North America Chocolate Market Size FAQs
How big is the North America Chocolate Market?
The North America Chocolate Market size is expected to reach USD 32.94 billion in 2024 and grow at a CAGR of 5.41% to reach USD 45.20 billion by 2030.
What is the current North America Chocolate Market size?
In 2024, the North America Chocolate Market size is expected to reach USD 32.94 billion.
