Chocolate Production in Canada - Industry Market Research Report

Canadian chocolate producers transform raw materials, such as cacao beans, sugar and milk, into various products, including chocolate bars, stuffed chocolates and premium chocolate boxes. Demand has fluctuated due to strong disposable income, increased health consciousness and volatile input prices. Chocolate producers have benefited from greater demand for premium chocolates and steady export growth. Rising discretionary spending has bolstered chocolate producers considerably. Rising chocolate prices have weighed on demand in recent years, as major players bolster profit via more expensive chocolates.

Industry revenue is expected to decrease at a CAGR of 1.2% to $2.6 billion through the end of 2023, including a 0.5% decline in 2023 amid slowing economic growth. This industry produces cocoa-based confectionery such as chocolate bars, boxed chocolates and filled and unfilled chocolate blocks. The production of chocolate-covered confectionery, such as chocolate-covered nuts, is also included within industry operations. This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.