The United States Chocolate Market was valued at US$ 34.03 billion in 2023. The analyst predicts it will grow at a CAGR of 3.79% from 2024 to 2032. It is projected to reach US$ 47.56 billion by 2032.
The reputation of chocolate is witnessing a vast rise in the United States. Increasing disposable profits encourages clients to splurge on premium chocolate products. The versatility of chocolate ranges from indulgent cakes to artisanal creations. This appeals to a diverse audience. Health-conscious consumers are drawn to dark chocolate for its antioxidant properties and perceived health benefits. Social media and culinary tendencies also drastically promote chocolate as a stylish and lavish treat. This growing fondness for chocolate reflects the evolving popularity of chocolate from an insignificant confection to a cultural icon within the American culinary panorama.
In December 2023 - Puratos, a food products manufacturer, acquired Foley’s Chocolates, a Canadian producer, in its largest chocolate industry acquisition. This increased Puratos' US market share and manufacturing abilities. The acquisition supports Puratos' commitment to health, sustainability, and innovation and adds to its chocolate portfolio of plant-based, protein-enhanced, and sugar-free solutions.
In November 2023 - Mars Inc. is set to acquire UK chocolate retailer Hotel Chocolat for £534 Million with potential for international expansion.
In October 2023 - Mondelēz International will introduce new formats of the beloved Toblerone chocolate brand in essential markets as part of its updated brand signature, 'Never Square.' The iconic brand has been around for 115 years, investing heavily in premium product offerings, marketing and advertising, and expanded distribution to support its new positioning.
In July 2023 - Theo Chocolate, a Seattle-based organic and fair-trade chocolate maker, announced that it plans to merge with the American Licorice Co. (ALC) based in LaPorte, Indiana. This move is part of Theo's broader restructuring plan, which includes shutting down its Seattle manufacturing facility and reducing the number of office staff members.
In May 2023 - Ferrero North America, a fast-growing confectionery manufacturer, will reveal new products and seasonal offerings, including Kinder Chocolate, at the Sweets & Snacks Expo in Chicago. This strengthens Ferrero's emphasis on category expansion through innovation and extended offerings to build excitement among retailers and customers.
2. Milk/White Chocolate
2. Convenience Stores
3. Online Retail Stores
4. Other Distribution Channel
2. Texas
3. New York
4. Florida
5. Illinois
6. Pennsylvania
7. Ohio
8. Georgia
9. New Jersey
10. Washington
11. North Carolina
12. Massachusetts
13. Virginia
14. Michigan
15. Maryland
16. Colorado
17. Tennessee
18. Indiana
19. Arizona
20. Minnesota
21. Wisconsin
22. Missouri
23. Connecticut
24. South Carolina
25. Oregon
26. Louisiana
27. Alabama
28. Kentucky
29. Rest of the United States
2. The Hershey Company
3. Mondelez International, Inc.
4. General Mills Inc.
5. Cargill Inc.
6. Saputo Inc.
7. Chocoladefabriken Lindt and Sprungli AG
8. Godiva Chocolates
The reputation of chocolate is witnessing a vast rise in the United States. Increasing disposable profits encourages clients to splurge on premium chocolate products. The versatility of chocolate ranges from indulgent cakes to artisanal creations. This appeals to a diverse audience. Health-conscious consumers are drawn to dark chocolate for its antioxidant properties and perceived health benefits. Social media and culinary tendencies also drastically promote chocolate as a stylish and lavish treat. This growing fondness for chocolate reflects the evolving popularity of chocolate from an insignificant confection to a cultural icon within the American culinary panorama.
United States Chocolate Market Trends
A growing allure for Luxury Chocolates
Impulse purchases and a developing charm for luxurious chocolates propel the United States chocolate market. Triggered by charming shows or promotions, impulse buying drastically boosts income. An increasing number of consumers seek indulgent experiences, favoring upscale and artisanal manufacturers. This trend reflects a yearning for sensory satisfaction and the belief in chocolate as a rewarding treat. Premium chocolate, including brands like Lindt, Ghirardelli, and Ferrero Rocher, caters to this call for specialized, higher-priced merchandise. According to the National Confectioners Association, premium chocolate holds the second-largest target audience, with 67% of purchasers sometimes purchasing it and nearly 30% favoring it over mainstream or high-quality options.High consumer confidence in seasonal chocolate and candy presents growth opportunities
The sales of chocolate in the United States enjoy significant growth in the festive seasons, like Halloween and Christmas. This is vital for reviving the U.S. chocolate market because it drives purchaser interest and boosts sales. Chocolates are frequently exchanged as presents and used as seasonal treats during these activities. The National Confectioners Association (NCA) reviews that Valentine’s Day, Easter, Halloween, and winter vacations are the key reasons that generate sixty-four percent of chocolate and candy income from chocolate and candy sales. Chocolate's association with indulgence and tradition during these periods stimulates consumption, increasing sales for manufacturers and shops.Introduction of Innovative New Flavors and Ingredients
United States chocolate manufacturers respond to changing patron preferences by innovative new flavors and ingredients. This evolution reflects the desire for particular taste experiences among consumers. Manufacturers are exploring various substances, including exotic fruits, spices, nuts, and savory elements, to create attractive chocolate types. For instance, Cacao Barry introduced WholeFruit chocolate in 2021, charming artisans. Incorporating state-of-the-art components like matcha, sea salt, or superfoods, including quinoa and goji berries, fulfills modern palates. Manufacturers can distinguish themselves within the exceedingly competitive chocolate market in the United States by incorporating innovative services, like Royce Chocolate's well-regarded green tea merchandise. These improvements enchant a broader audience and might cause commercial enterprises to increase.Health benefits of Chocolates
The growing know-how of dark chocolate's fitness advantages and its wealthy antioxidants drive the US chocolate market. As referred to through Johns Hopkins Medicine, antioxidants in dark chocolate enhance heart fitness, cognitive features, and temper. Its anti-inflammatory properties and blood pressure reduction entice health-aware consumers and growing demand for quality dark chocolate products. Manufacturers leverage this trend, emphasizing fitness advantages, fueling market growth, and positioning chocolate as a guilt-free indulgence.Hypermarkets and Supermarkets might command the United States Chocolate Market
Hypermarkets and supermarkets may dominate the market because of their extensive presence. This offers comfort and accessibility to purchasers. These retail giants leverage their expansive shelf area to showcase numerous chocolate brands and products, catering to various patron possibilities. Their capacity to offer competitive and promotional pricing also solidifies their position as a primary phase within the chocolate market.California Chocolate Market
The California chocolate market could develop notably because of its vast population, numerous customer alternatives, and vibrant food culture. The state's popularity for culinary excellence fosters numerous artisanal chocolate makers, improving market vibrancy. Increasing cognizance of dark chocolate's health advantages and demand for quality and natural products align with California's fitness-conscious client base. For instance, Navitas, famous for its unprocessed raw cacao, has transitioned to regenerative practices in its delivery chain. Favorable agricultural conditions and strategic distribution similarly aid the market boom.United States Chocolate Market News
Nestlé S.A., The Hershey Company, Mondelez International, Inc., General Mills Inc., Cargill Inc., Saputo Inc., Chocoladefabriken Lindt and Sprungli AG, and Godiva Chocolates are the major enterprises in the United States chocolate market.In December 2023 - Puratos, a food products manufacturer, acquired Foley’s Chocolates, a Canadian producer, in its largest chocolate industry acquisition. This increased Puratos' US market share and manufacturing abilities. The acquisition supports Puratos' commitment to health, sustainability, and innovation and adds to its chocolate portfolio of plant-based, protein-enhanced, and sugar-free solutions.
In November 2023 - Mars Inc. is set to acquire UK chocolate retailer Hotel Chocolat for £534 Million with potential for international expansion.
In October 2023 - Mondelēz International will introduce new formats of the beloved Toblerone chocolate brand in essential markets as part of its updated brand signature, 'Never Square.' The iconic brand has been around for 115 years, investing heavily in premium product offerings, marketing and advertising, and expanded distribution to support its new positioning.
In July 2023 - Theo Chocolate, a Seattle-based organic and fair-trade chocolate maker, announced that it plans to merge with the American Licorice Co. (ALC) based in LaPorte, Indiana. This move is part of Theo's broader restructuring plan, which includes shutting down its Seattle manufacturing facility and reducing the number of office staff members.
In May 2023 - Ferrero North America, a fast-growing confectionery manufacturer, will reveal new products and seasonal offerings, including Kinder Chocolate, at the Sweets & Snacks Expo in Chicago. This strengthens Ferrero's emphasis on category expansion through innovation and extended offerings to build excitement among retailers and customers.
Type - United States Chocolate Market breakup in 2 viewpoints:
1. Dark Chocolate2. Milk/White Chocolate
Distribution Channel - United States Chocolate Market breakup in 4 viewpoints:
1. Hypermarkets/Supermarkets2. Convenience Stores
3. Online Retail Stores
4. Other Distribution Channel
States - United States Chocolate Market breakup 29 States:
1. California2. Texas
3. New York
4. Florida
5. Illinois
6. Pennsylvania
7. Ohio
8. Georgia
9. New Jersey
10. Washington
11. North Carolina
12. Massachusetts
13. Virginia
14. Michigan
15. Maryland
16. Colorado
17. Tennessee
18. Indiana
19. Arizona
20. Minnesota
21. Wisconsin
22. Missouri
23. Connecticut
24. South Carolina
25. Oregon
26. Louisiana
27. Alabama
28. Kentucky
29. Rest of the United States
All the key players have been covered from 3 viewpoints:
- Overview
- Recent Development
- Revenue Analysis
Company Analysis:
1. Nestlé S.A.2. The Hershey Company
3. Mondelez International, Inc.
4. General Mills Inc.
5. Cargill Inc.
6. Saputo Inc.
7. Chocoladefabriken Lindt and Sprungli AG
8. Godiva Chocolates
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. United States Chocolate Market
4. Market Dynamics
6. Market Share - United States Chocolate Analysis
7. Type - United States Chocolate Market
8. Distribution Channel - United States Chocolate Market
9. States - United States Chocolate Market
10. Porter’s Five Forces Analysis - United States Chocolate Market
11. SWOT Analysis - United States Chocolate Market
12. Key Players
List of Figures
List of Tables
Companies Mentioned
- Nestlé S.A.
- The Hershey Company
- Mondelez International, Inc.
- General Mills Inc.
- Cargill Inc.
- Saputo Inc.
- Chocoladefabriken Lindt and Sprungli AG
- Godiva Chocolates
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 200 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 34.03 Billion |
| Forecasted Market Value ( USD | $ 47.56 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | United States |
| No. of Companies Mentioned | 8 |
