Market Overview

The global North America Chocolate market in terms of revenue was estimated to be worth $ 42.94 Million in 2023 and is poised to reach $ 63.27 Million by 2032, growing at a CAGR of 4.4% from 2024 to 2032.

Chocolate is one of the most renowned confectioneries made from the seeds of the cacao tree, valued for its deep, rich flavour and smooth, creamy texture. The first process in production is harvesting of cacao beans. Fermented, dried, roasted, processed into cocoa mass, it is further processed to create cocoa butter and solids, which are mixed together in various proportions to create several varieties such as milk, white, and dark chocolate.

 Technological advancements, increased emphasis on sustainability, and the gradual change of consumer attitudes form an important part of the changing face of the North American chocolate market. North America forms one of the largest markets in the world for chocolates, with thousands of products and fashions that need to appeal to the shifting preferences and ideals of its citizenry.

The largest trend in the North American chocolate business is the increase in demand for premium and dark chocolate. Taste is becoming more complex, and consumers are seeking premium chocolates distinguished by interesting ingredients and unique flavours. Herein lays the motivation for this trend-new appreciation for superlative chocolate as well as willingness to pay more for products that deliver richer and more opulent experience.

Dark chocolate has gained more attention lately because it is apparently more healthful-more antioxidants and much less sugar than its milk chocolate cousin-and less sugary as well. Within this market, artisanal and craft chocolate makers thrive by crafting small, handcrafted batches of chocolates that maximize quality, authenticity, and innovation in flavours.

The health and wellness movement casts a shadow significant to the North American chocolate market. Consumers are getting increasingly conscious of the nutritional value of food, including the food that tastes so good, which is chocolate. There's always the search for something that tastes better and is healthier; this has increased demand for chocolate products that fit into health-conscious lifestyles-organic, vegan, low sugar, no artificial additives-and so on.

Key Findings

• based on a recent NCA report. Over the past year, chocolate has reached a record high of $21.4 billion in confectionery sales, with 65 percent of consumers choosing it as an inexpensive treat.
• Sweet escape: 72% of consumers believe chocolate should be a part of a happy, balanced lifestyle, and 94% of customers occasionally buy chocolate simply for themselves. In fact, 21% of people are eating more chocolate than they did the previous year because it is such a popular indulgence.
• Top preferences: Milk chocolate is still the most popular chocolate among Americans (40 percent), followed by dark chocolate (28 percent) and white chocolate (7 percent). However, 26% of consumers say they would be content with any type of chocolate.
• Added spice: caramel, peanut butter, almonds, and peanuts are among the additions that 47% of consumers prefer in their chocolate. Gen Z is more inclined to eat their chocolate straight up, but Millennials are more likely to choose chocolate with other flavours. The most popular food among all age groups is caramel.
• A pleasant fact is that 72% of customers give chocolate to others on special occasions either frequently or infrequently. Valentine's Day, birthdays, and Halloween are the most popular times to give chocolate gifts, but according to 29% of customers, there is no specific occasion that is required.

Market Drivers

Rising Consumer Demand for Premium and Dark Chocolate

This is the main reason for the trend in premium, artisanal, and dark chocolates. Dark chocolate contains flavonoids, antioxidants proven to aid in the enhancement of flow; reduction of blood pressure, then low risk of cardiovascular disease. In addition, it contains fewer contents of sugar as compared to milk chocolate. This way, consumers who are watchful of the intake of sugar are allowed to indulge in it.This shift toward healthier indulgences fits well with the larger wellness movement in which consumers enjoy indulgent treats with no impact on their health. Premium and artisanal chocolates speak to consumer's senses, eating high quality ingredients, unique flavours and enjoying luxury. For these factors demand for these kinds of chocolate is additionally emerging within the North American market.

Key Findings

• The global leader in confections, Mars Wrigley U.S., debuted a new line of products in November 2020 from some of America's most beloved brands, such as SKITTLES, M&Ms, and ORBIT. These products will be incorporated into Mars Wrigley's range of popular gum, chocolate, and fruity confections, giving consumers more joy and experiences both now and in 2021.

Market Opportunities

Product innovation and premiumization

Product innovation and premiumization are the major opportunities in the North America chocolate market. The most straightforward attractiveness is in innovative products introducing new flavours, textures, and ingredients to adventurous consumers who wish to have unique experiences. Chocolates infused with exotic fruits or spices or being plant-based alternatives such as dairy-free options are sought out due to the following reasons: a search for a more diversified taste profile or health-conscious options. This creativity in product development differentiates brands and also builds excitement in the market. Besides, premium and artisanal chocolates are still gaining in demand as people are beginning to realize that quality over quantity matters. Premium chocolates tend to focus on craftsmanship, fair sourcing, and unique packaging that will instil a sense of luxury. Positioned usually at higher price points than their standard counterparts, these products appeal to discerning customers and generate handsome profit margins on the manufacturer's end. Through a strategy of product innovation and premiumization, chocolate companies may be differentiated while satisfying evolving consumer preferences, and thus expand a high-growth, high-value market share.

Key Findings

• Cadbury's Plant Bar, a vegan chocolate variant of the brand's well-known Dairy Milk bar, was released to the Canadian market by Mondelēz International in October 2022.
• The Hershey Company inked a legally binding agreement to acquire Lily's, a fast-growing, better-for-you (BFY) candy company, in May 2021. Lily's low-sugar products include milk and dark chocolate bars and other confections that adhere to Hershey's methodology.

Market Restraining Factors

Sustainability and Ethical Sourcing Challenges

The demand for ethical, sustainable, and responsible chocolate products is changing the North American market, placing pressure on companies to be responsible. Consumers increasingly demand more fair-trade-certified and organic or sustainably sourced chocolates. More environmentally aware consumers have become conscious of ethical treatment of labourers by cocoa farmers. Manufacturers that would like to follow such a mantra must invest in sustainable farming practices, provisions for fair wages for farmers, and environmentally responsible means of production-all activities that can hike operational and production costs. This also may lead to greater retail prices, which may discourage some price-sensitive consumers.

In the socially responsible market of today brands perceived to be irresponsible or unsustainable run the risk of consumer mistrust and disloyalty. Such negative publicity relating to the sourcing of products in a manner regarded as being un-ethical can cause damage to a brand's reputation. Here again manufacturers must incorporate sustainability into their value chains to continue competing.

Segmentation Analysis

The market scope is segmented because of By Product Type, By Category, and By Distribution Channel.

By Product Type

Based on the Product Type of the market is segmented into Milk Chocolate, Dark Chocolate, White Chocolate.

While milk chocolate still remains the most consumed and preferred type, the wider appeal to a broad consumer base can be attributed to its sweet taste and creamy texture. It has retained most of the market especially among the new or younger consumers and those who tend to have a taste for indulgent and sweet treats. Still, its dominance has been seriously threatened lately by the pressures of newer emerging forces such as dark chocolates, for example Dark chocolate enjoys increasing popularity because of an anticipated shift in demand toward healthier goods, given consumer preferences towards higher cocoa content, less sugar, and associated health benefits through its consumption, such as antioxidants and enhanced heart health. It increasingly comes to market as a premium product often marketed for its sophisticated, bitter flavour profile that appeals to adults seeking a more refined indulgence.

chocolate is an area niche attract only to customers who consume the excess amount of sugar and creamy texture which white chocolate provides, though it is not having cocoa solids in it, thus lesser in popularity. For example, Hershey's and Lint are dominators in the milk chocolate market but now diversifying themselves in dark and white chocolate as people are switching over to it.

By Category

Based on the Category of the market is segmented into Conventional Chocolate, Premium/Artisanal Chocolate.

Although conventional chocolate currently leads the market due to its greater availability and brand familiarity, the premium/artisanal is growing quickly, as consumers seek more indulgent high-quality products. Conventional chocolate is mass-produced and is sold virtually wherever: in supermarkets and convenience stores. These chocolates are similar to Hershey's Milk Chocolate Bars or Mars Bars in the sense that they appeal to a broad consumer market seeking nostalgia and convenience for minimal cost. Nonetheless, traditional chocolates are no longer as prevalent after the advent of superior options.

Premium/artisanal chocolate puts focus on premium ingredients, handcraftsmanship, and original flavour profiles. The chocolates here are often found to be made from single-origin cocoa beans, organic ingredients, and innovative combinations and target customers who can afford to pay more for the premium. Godiva and also the small artisanal chocolatiers like Taza Chocolate describe this category as luxury chocolates mainly emphasizing on taste and ethical sourcing.

Regional Snapshots

By region, Insights into the markets in North America, Europe, Asia-Pacific, Latin America and MEA are provided by the study. The U.S. is the biggest chocolate market in North America. Such reasons that lead to being a market leader are a diverse product mix available, from conventional chocolates to premium ones. Established brands like Hershey's, Mars, and Nestle are a long-established market offering products against different demographics. This increased health and wellness trend has also led to a higher demand for dark chocolate or premium options with consumers buying less sugar and more cocoa while purchasing chocolates. Yet, online shopping is growing at an equally rapid pace as well, as more and more consumers seek out specialty and artisanal chocolates.

The market in Canada is much smaller in volume but nonetheless has been performing relatively healthy, stemming from increasing consumer interest for premium and sustainable options of chocolate. Brands with ethical sourcing and organic ingredients are gaining traction among health-conscious consumers. Seasonal events, gifting occasions, and holidays such as Valentine's Day and Easter are major sales drivers. Canadian consumers are also becoming much more adventurous in their chocolate tastes: increasingly seeking out specific, new, and unique flavours and artisanal products.

List of Companies Profiled

• The Hershey Company
• Mars, Incorporated
• Nestlé
• Ferrero
• Chocoladefabriken Lindt & Sprüngli AG
• Godiva
• Ghirardelli Chocolate Company
• MondelÄ“z International
• General Mills Inc.
• Clif Bar & Company

Key Industry Developments

• In November 2022, Premium chocolates known as "Holiday Collection Packs" were introduced by the GODIVA brand of Yıldız Holding AS. White Chocolate Raspberry Star, Milk Chocolate Praline Heart, and Midnight Swirl are among the chocolate packets.
• In October 2022, the world's first 3D virtual store was launched by Lindt & Sprungli USA. Customers nationwide can now enjoy the captivating brand experience of a Lindt Chocolate store from the convenience of their homes or even while they're on the go thanks to the company's new online shopfront.

Report Coverage

The report will cover the qualitative and quantitative data on the Global North America Chocolate Market. The qualitative data includes latest trends, market players analysis, market drivers, market opportunity, and many others. Also, the report quantitative data includes market size for every region, country, and segments according to your requirements. We can also provide customize report in every industry vertical.

Report Scope and Segmentations:

Regional Analysis

North America accounted for the highest North America Chocolate Market% market share in terms of revenue in the North America Chocolate Market and is expected to expand at a CAGR of North America Chocolate Market% during the forecast period. This growth can be attributed to the growing adoption of North America Chocolate Market. The market in APAC is expected to witness significant growth and is expected to register a CAGR of North America Chocolate Market% over upcoming years, because of the presence of key North America Chocolate Market companies in economies such as Japan and China.

The objective of the report is to present comprehensive analysis of Global North America Chocolate Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.

North America Chocolate Market Report is also available for below Regions and Country Please Ask for that

North America

• U.S.
• Canada

Europe

• Switzerland
• Belgium
• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Rest of Europe

Asia-Pacific

• India
• Australia
• Philippines
• Singapore
• South Korea
• Japan
• China
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Argentina
• Peru
• Colombia
• Brazil
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA

Points Covered in the Report

• The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
• The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
• The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
• Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
• The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.

Key Questions

• How much the global North America Chocolate Market valued?
• Which region has the largest share in 2024 for the global North America Chocolate Market ?
• What are the driving factors for the market?
• Which is the leading segment in the global market?
• What are the major players in the market?

Research Scope of the Market

• Historic year: 2019-2022
• Base year: 2023
• Forecast: 2024 to 2032
• Representation of Market revenue in USD Million

North America Chocolate Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends: