North American Chocolate Confectionery Market to Hit USD 57.4 Billion by 2030 | Exhibiting a CAGR of 4.3%
Research Reports
Sep 11, 2023
North American Chocolate Confectionery Market Overview:
The North American chocolate confectionery market is an ever-increasing space. Factors such as the huge popularity and consumption of chocolates and confectioneries as deserts drive the growth of the market. Besides, the availability of various flavors and increased nutritional value infused with fruits, nuts, and other health-benefiting ingredients, foster the chocolate confectionery market revenues.
Changing consumer preferences and increasing inclination toward healthier, natural, and clean-label products accelerate the chocolate confectionery market size. According to Market Research Future (MRFR), the North American Chocolate Confectionery Market is estimated to hit USD 57.4 billion by 2030, growing at a 4.3% CAGR during the forecast period (2022-2030). Moreover, launches of small packs of popular products boost market sales.
The growing availability of various other snack products, such as nuts and meat snacks, has further impacted the chocolate confectionery market growth. Key players in the region are emphasizing innovation in chocolate confectionery products which are expected to support market growth during the forecast period. The introduction of new flavors and chocolate products induced with nuts and fruits would also boost the market size.
North American Chocolate Confectionery Market – Segments
The report is segmented into types, categories, distribution channels, and countries. The type segment is sub-segmented into milk, dark, and white. The category segment is sub-segmented into chocolate bars, candies, and others. The distribution channel segment is sub-segmented into store-based and non-store-based. Based on countries, the North American chocolate confectionery market is segmented into the US, Canada, and the rest-of-North America.
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North American Chocolate Confectionery Market – Geographical Analysis
The US dominates the North American chocolate confectionery market due to the strong presence of many industry players. Besides, substantial investments have been made into developing novel manufacturing techniques that can improve the quality of products and drive the country’s market growth further. The US chocolate confectionery market is estimated to create a substantial revenue pocket over the assessment period.
North American Chocolate Confectionery Market – Competitive Analysis
Highly competitive, the North American chocolate confectionery market appears well-established with the presence of many major players. Key trends observed among the market players are collaboration, mergers & acquisitions, expansion, and product launches. Chocolate confectionery producers strive to create high-quality products with coloration that approximates natural ingredients.
Major Players:
Players leading the North American chocolate confectionery market include Mars (US), Mondelez (US), Blommer (US), Foley’s Candies LP (Canada), Puratos (Belgium), Cargill (US), Hershey (US), Nestle SA (Switzerland), Barry Callebaut (Switzerland), Valrhona (France), Guittard Chocolate Company (US), Alpezzi Chocolate (Mexico), Ferrero (Italy), Ghirardelli (US), Scharffen Berger (US), and Republica del Cacao (Ecuador), among others.
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Industry/ Innovation/ Related News:
Aug.19, 2023, Bitzel’s Chocolate, a leading chocolate manufacturer in the US, announced its new 7,000-square-foot chocolate manufacturing facility at Suwanee will offer retail and wholesale offerings starting this autumn. The company plans to offer a true Willy Wonka-style experience, allowing visitors to watch these chocolate creations move through an automated production process. Bitzel’s Chocolate will feature a line of affordable, chef-crafted delicacies using the widest range of specialty equipment of any chocolatier in the Southeast.
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