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The North American Chocolate Confectionery Market is a unique industry that is governed by a series of market factors which individually or collectively determine the dynamics and development of the sector in North America. Issues of consumer taste is another critical factor influencing the market demand. The market is currently undergoing a transition in how consumers select their food and drink, most opting for options that are healthy, natural and have clean labels. With the rising health issue coinciding with the health and fitness trend, consumers are now looking for candy selections that endorses healthier options in treating. This change has given a whole new look into the chocolate confectionery field where the product producers have to make their product accordance with the shift in the today’s tastes and preferences of their customers.
Another important component making the market to dynamically shape out is the rising appeals of the alternatives snack products. Specifically, North America has recorded an increase in demand for a wide range of snack choices including nuts and meat snacks, thus, directly contributing to the declining demand for chocolates. Today the consumers have got more and more choice when choosing a snack, which has led to the growing competition in the field of chocolate confectionery, and now the position of traditional dominance of chocolate confectionery becomes a challenge. The shift in customer preferences as a consequence of the new snack categories have impacted market growth which would be gradual in chocolate confectionery.
The North American Chocolate Confectionery Market is rising at a CAGR rate of 4.3% projected from 2022 to 2030 and worth 57.4 billion by 2030 is an example of a market meant to grow at a gradual rate. Because of this, the producers have more time to shift the demand to the premium healthy products with natural and clean label. Consuming more alternatives perceived as healthier has altered the chocolate confectionery market’s course. Also, the demand of the demand market is influenced by the continuously expanding choice of different and varied types of alternative snack products including peanuts and meat snacks, stifling the growth of chocolate confectionery market.
The economic aspect too has its vital impact on this segment of the North American Chocolate Confectionery Market. Economic factors, which vary from cheapness to customer spending behavior, have direct connection to the purchasing behavior of buyers. Confectionary market may become a victim of negative consumer psychology as a result of economic decline or unstable economics. Their choices in the confectionery aisle may change here. Since the economic setting is vital for the market players when it comes to adjusting to the consumer buying power and marketing strategy, it draws a major part.
Covered Aspects:
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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
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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
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