Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The North American Chocolate Confectionery Market consists of intricate mix of market dynamics that propel, influence and even determine, its saga of growth, trends and market dynamics. One of the most noticeable elements is the evolving consumer attitudes towards brands. In the past several years, the people in North America specially have been choosing delicious and wide-ranging snacks other than chocolate sweets. They have begun purchasing these products more than before, so this has reflected on the chocolate confectionery companies. Moreover, with rising concern health, consumers are currently early demand chocolate snacks that match with their wellness goals thus, manufacturers of chocolate confectionery are required to emerge with other trends to meet the evolving and changing consumer preferences.
Another substantial component, which molds the market equilibrium, is the retail customers' new mode of life. The need for snacking that is produced on the move, the condition of on-the-go consumption and the trend towards the desire for being convenient have caused the change in people's lifestyles which then results in the growing popularity of the portable and convenient chocolate confectionery as snack. Makers react by introducing packaging solutions, e.g. smaller portion packs and those that are individually wrapped, to correspond to the needs of busy people who are constantly looking for temporary indulgences in their busy lives.
Amongst all humongous factors in the market supply of the North American Chocolate Confectionery Market no other thing is as bigger factor as economic conditions. The economic situation, in particular such as the shifts in available income and the consumers' spending level will straight impact on the purchasing behaviour of consumers. Consumers, in times of economic uncertainty, revisit their spending habits, which eventually affect the buying of things such as choco confectionery, which are not necessarily essential. The knowledge of what has led to the current success or challenges is an important aspect in the companies being able to consider their business strategies under this economic environment.
Competition-wise, a pattern of competitive relation among the main stakeholders is observed which aims to seize the market share. This competition is a great incentive for chip chocolate manufacturers to be engaged in an on-going inventions, not only in accordance with the development of new items but also marketing tactics. These constitute the components of a strong differentiation strategy that entail provision of distinct tastes, top-of-the-range ingredients, and collaboration with strategic partners. The capacity of staying at the frontline of competitors when it comes to innovation and having the quick response to the particular market trends is the essence of business survival in this dynamic environment.
The regulatory environment is also made dynamic by the third factor influencing North American Chocolate Confectionery Market. The regulations related to labeling, health claims, and the standards for ingredients affect the business processes of chocolate bar production from manufacture, marketing, to sale. The apparatus of keeping up with these regulations and ensuring the quality and safety of the products is extensive and needs to be run by the manufacturers. On the other hand, consumer awareness of both of these regulations have grown and as a result people decide on the purchasing and brand trust are influenced.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|
North American Chocolate Confectionery Market Highlights:
North American Chocolate Confectionery Market Overview
North American chocolate confectionery market size was valued at USD 57.4 billion by 2030 Compound annual growth rate (CAGR) of 4.3% from 2022 to 2030. is undergoing slow growth, owing to the changing consumer preference and increasing inclination towards healthier, natural, and clean label products. Furthermore, growing availability of a range of other snack products, such as nuts and meat snacks, have further impacted the growth of the chocolate confectionery market.
Key players in the region are emphasizing on innovation in chocolate confectionery products which is expected to support market growth in the region during the forecast period. Introduction of products with new flavors, such as lemon zest, chocolate products induced with different vegetables, fruits and nuts are gaining popularity among consumers, which will further expected to boost the market growth during the forecast period. Moreover, launches of miniature versions of popular products are expected to boost sale as they contain fewer calories comparatively.
Furthermore, key players are adopting various strategies to attract consumers and boost the market growth such as partnering with celebrities and famous sports personalities to endorse a product, launching new products during festive seasons to drive revenue generation, and creating a presence in digital space to provide consumers with the convenience of home shopping.
Market Segmentation
The North American chocolate confectionery market has been segmented into type, category, distribution channel, and country.
Based on type, the market has been segmented into milk, dark, white. Milk chocolate is a popular choice among consumers and holds a major market share. The dark chocolate segment is expected to dominate the market during the forecast period owing to health benefits of dark chocolates, including their antioxidant properties.
Based on category, the North American chocolate confectionery market has been segmented into chocolate bars, candies, and others.
Based on the distribution channel, chocolate confectionery market in North America has been segmented into store based and non store based. Store based category is further segmented into supermarkets/hypermarkets, convenience store, and others, while e-commerce websites are categorized under the non store based category. The store based segment is expected to show significant growth during the forecast period owing to strong consumer base and a wide variety of product.
Based on country, the market has been segmented into the US, Canada, and Mexico. The US is expected to dominate the North American chocolate confectionery market.
Key players
Mondelez (US), Mars (US), Blommer (US), Puratos (Belgium), Foley’s Candies LP (Canada), Cargill (US), Nestle SA (Switzerland), Hershey (US), Barry Callebaut (Switzerland), Guittard Chocolate Company (US), Valrhona (France), Alpezzi Chocolate (Mexico), Ghirardelli (US), Ferrero (Italy), Republica del Cacao (Ecuador), and Scharffen Berger (US)
Recent Development
-
Ferrero (known for Nutella and Ferrero Rocher) continues to make strategic acquisitions. In 2023, they acquired Nestle's U.S. confectionery business, which strengthens their position in North America. They also unveiled new Kinder Chocolate products at a sweets expo in Chicago.
Regional Market Summary
North American chocolate confectionery Market Share (%), by Region, 2021
Source: Secondary Source, MRFR Analysis
The US is expected to hold the largest share of North American chocolate confectionery market followed by Canada and Mexico. Growing demand for low sugar confectionery products, innovative products such as protein bars and introduction of chocolate products with nuts and fruits in the market is supporting the growth of the North American chocolate confectionery market.
North American chocolate confectionery Market, by Type
- Milk
- Dark
- White
Market by category
- Chocolate bars
- Candies
- Others
Market by Distribution channel
- Store Based
- Supermarkets/Hypermarkets
- Convenience Store
- Others
- Non Store based
Market by Country
- North America
- US
- Canada
- Mexico
Intended Audience
- Cocoa bean producers and suppliers
- Raw material suppliers and distributors
- Regulatory bodies
- Importers and exporters of chocolate confectionery
- Trade association and industrial bodies
- End-use industries
- Supplier of food processing technology
- Confectionery manufacturers and suppliers
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
