Intensifying growth forecasted for the North-American Chocolate Confectionery Industry by 2023
Research Reports
Jan 07, 2021
Market Analysis
The unwavering demand for chocolate and its byproducts has been one of the motivating factors fuelling the sector’s growth. Market Research Future which concentrates on market reports linked to the food and beverage sector amongst others recently made available a report on this sector. The sector will observe an incomparable period of growth in the forecast period due to a positive CAGR rate and high revenue inflow.
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Industry Updates
Mar 2018 Ferrero in a recent statement said that it is trying to decide the best course of action to run Nestlé’s confectionery business in the US under its portfolio. The company which is famous for its product Nutella said the deal which is worth $2.8bn and was finalized earlier in the year includes Baby Ruth, Butterfinger and Raisinets in its product assortment. The completion date for the acquisition is yet to be fixed.
Major Key Players
The NOTEWORTHYCOMPANIESREPORTED in North American Chocolate Confectionery Market REGIONARE BLOMMER, Mondelez, Mars, PURATOS, Cargill, Hershey, Barry Callebaut, Nestle SA, GUITTARD Chocolate Company and Foley’s Candies LP to name a few.
Industry Segments
The North American Chocolate Confectionery Market is divided into the categories of application, country and type. The type category of the chocolate confectionery sector is segregated into milk, dark, white and filled. The application category for this industry includes beverages, bakery, direct consumption, ice-creams and others. The country segment includes Canada, U.S. and Mexico.
Regional Analysis
While considering the regional analysis, the U.S. dominates the sector for chocolate confectionery market in North America with the principal market share, accounting for significant millions in revenue and is anticipated to grow through the forecast period till 2023, The countries in North America such as Mexico and Canada are an emerging market for chocolate confectionery sector in North-America and are projected to grow with a phenomenal CAGR per cent respectively from 2020 to 2023.
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