Market Trends of north america chocolate Industry
The increasing demand for artisanal chocolates, coupled with strong demand during special occasions like Christmas and Halloween, allows the chocolate market to grow
- Chocolate remains a timeless treat among North Americans. With a 44% value share in 2023, chocolate is expected to continue to be the most frequently consumed confectionery in the region. Americans consume approximately 2.8 billion pounds of chocolate every year, with 77% of Americans consuming chocolate at least once a month as of 2023.
- Packaging and flavor remain consumers' first impression of chocolate, among other attributes, which determines the likelihood of purchasing. In the United States, chocolate is the favorite candy category among most consumers (90%). This is because chocolate is the general favorite flavor of over 50% of Americans.
- The economic parameter remains the most important and crucial factor influencing consumers’ chocolate-buying behavior.;= The prices of chocolates range from as low as USD 3.1/pound to USD 24/ pound. About half (47%) of Americans purchased USD 5-10 worth of chocolate a few times a month from their grocery stores in 2023.
- In North America, the consumption of chocolate is generally viewed from a health (physical and mental) perspective with a mix of opinions. While chocolate is a popular treat enjoyed by many, there are considerations regarding its health benefits and potential drawbacks.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Major manufacturers are avoiding the use of artificial flavors, preservatives, or sweeteners to cater to a larger market
