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North American Chocolate Confectionery Market Trends

ID: MRFR//1000-HCR | 90 Pages | Author: Snehal Singh| June 2024

North American Chocolate Confectionery Market Overview

North American Chocolate Confectionery Market size was valued at USD 57.4 billion by 2032 Compound annual growth rate (CAGR) of 4.3% from 2024 to 2032. 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.

North American Chocolate Confectionery Market Overview

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 Industry 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.

  • Hershey's (June 2024): Pioneered new innovations in retail AR (Augmented Reality) at the 2024 Sweets & Snacks Expo. This shows Hershey's focus on incorporating technology to enhance the customer experience. They were also part of the record-breaking attendance at the Expo.

  • Mars (May 2024): Appealed to Gen Z through product innovation, focusing on gummies and peanut butter products. This highlights Mars' strategy to cater to evolving consumer preferences. They were also recognized for their focus on sustainability in the confectionery industry.

Regional Market Summary

North American chocolate confectionery Market Share (%), by Region, 2021

North American chocolate confectionery Market Share

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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