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The North America chocolate market size was valued at USD 31.17 billion in 2023. The market is further projected to grow at a CAGR of 4.5% between 2024 and 2032, reaching a value of USD 46.46 billion by 2032.
As per the North America chocolate market analysis, companies like Godiva and Lindt & Sprüngli are capitalising on the trend of premiumisation by offering a range of high-end chocolates with unique flavours and exquisite packaging. For example, Godiva's Gold Discovery Collection features premium chocolates with flavours like hazelnut praline, raspberry ganache, and caramel.
Brands like Ghirardelli and Green & Blacks are responding to the demand for health-conscious chocolate options by focusing on dark chocolate varieties. Ghirardelli's Intense Dark Chocolate line offers bars with high cocoa content, highlighting the antioxidant properties and health benefits of dark chocolate. This emphasis on health-conscious offerings aligns with consumer preferences for better-for-you products and contributes to the growth of the dark chocolate segment in the market.
Chocolate brands like Hershey's and Mars are leveraging the trend of online retail acceleration to reach consumers through e-commerce platforms and direct-to-consumer channels. Hershey's, for example, offers a wide range of chocolate products on its website, allowing customers to conveniently purchase their favourite treats online and have them delivered to their doorstep. This shift towards online retail experiences provides brands with new avenues for North America chocolate market development.
In 2022, the dark chocolate segment accounted for a significant share of the market because of its health benefits, including improved cognition, lower risk of heart strokes, enhanced immune system effectiveness, and high flavonoid content that fights free radicals and improves the circulatory system.
However, the milk chocolate segment still dominates as they have high milk content and low cocoa concentration, resulting in a creamy texture and delicate taste, which drives their popularity among consumers. The growth of the segment is fuelled by the rising demand for milk chocolate as an ingredient in various confectionery products like icing on cakes, cupcakes, puddings, and other sweets.
North America Chocolate Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments
Market Breakup by Type
Market Breakup by Product Type
Market Breakup by Distribution Channel
Market Breakup by Region
Market players are introducing premium chocolates with high-quality cocoa, distinct flavours, and organic components, including honey, caramel, and dark chocolate, to maintain their competitiveness.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Type |
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Breakup by Product Type |
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Breakup by Distribution Channel |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Global Chocolate Market Overview
8.1 Key Industry Highlights
8.2 Global Chocolate Historical Market (2018-2023)
8.3 Global Chocolate Market Forecast (2024-2032)
8.4 Global Chocolate Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 North America Chocolate Market Overview
9.1 Key Industry Highlights
9.2 North America Chocolate Historical Market (2018-2023)
9.3 North America Chocolate Market Forecast (2024-2032)
10 North America Chocolate Market by Type
10.1 Dark Chocolate
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Milk Chocolate
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 White Chocolate
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
11 North America Chocolate Market by Product Type
11.1 Pure Chocolate
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Compound Chocolate
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 North America Chocolate Market by Distribution Channel
12.1 Supermarkets and Hypermarkets
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Convenience Stores
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Online
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 North America Chocolate Market by Country
13.1 United States of America
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Canada
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators of Demand
14.4 Key Indicators of Price
15 Value Chain Analysis
16 Trade Data Analysis (HS Code – 1806)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
18 Competitive Landscape
18.1 Market Structure
18.2 Company Profiles
18.2.1 Mars, Incorporated
18.2.1.1 Company Overview
18.2.1.2 Product Portfolio
18.2.1.3 Demographic Reach and Achievements
18.2.1.4 Certifications
18.2.2 Mondelez International, Inc.
18.2.2.1 Company Overview
18.2.2.2 Product Portfolio
18.2.2.3 Demographic Reach and Achievements
18.2.2.4 Certifications
18.2.3 Ferrero International S.A.
18.2.3.1 Company Overview
18.2.3.2 Product Portfolio
18.2.3.3 Demographic Reach and Achievements
18.2.3.4 Certifications
18.2.4 Nestlé S.A.
18.2.4.1 Company Overview
18.2.4.2 Product Portfolio
18.2.4.3 Demographic Reach and Achievements
18.2.4.4 Certifications
18.2.5 The Hershey Company
18.2.5.1 Company Overview
18.2.5.2 Product Portfolio
18.2.5.3 Demographic Reach and Achievements
18.2.5.4 Certifications
18.2.6 Barry Callebaut AG
18.2.6.1 Company Overview
18.2.6.2 Product Portfolio
18.2.6.3 Demographic Reach and Achievements
18.2.6.4 Certifications
18.2.7 Grupo Arcor
18.2.7.1 Company Overview
18.2.7.2 Product Portfolio
18.2.7.3 Demographic Reach and Achievements
18.2.7.4 Certifications
18.2.8 Chocoladefabriken Lindt & Sprüngli AG
18.2.8.1 Company Overview
18.2.8.2 Product Portfolio
18.2.8.3 Demographic Reach and Achievements
18.2.8.4 Certifications
18.2.9 August Storck KG
18.2.9.1 Company Overview
18.2.9.2 Product Portfolio
18.2.9.3 Demographic Reach and Achievements
18.2.9.4 Certifications
18.2.10 Meiji Holdings Co., Ltd.
18.2.10.1 Company Overview
18.2.10.2 Product Portfolio
18.2.10.3 Demographic Reach and Achievements
18.2.10.4 Certifications
18.2.11 Others
19 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Chocolate Market: Key Industry Highlights, 2018 and 2032
2. North America Chocolate Market: Key Industry Highlights, 2018 and 2032
3. North America Chocolate Historical Market: Breakup by Type (USD Billion), 2018-2023
4. North America Chocolate Market Forecast: Breakup by Type (USD Billion), 2024-2032
5. North America Chocolate Historical Market: Breakup by Product Type (USD Billion), 2018-2023
6. North America Chocolate Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
7. North America Chocolate Historical Market: Breakup by Distribution Channel (USD Billion), 2018-2023
8. North America Chocolate Market Forecast: Breakup by Distribution Channel (USD Billion), 2024-2032
9. North America Chocolate Historical Market: Breakup by Country (USD Billion), 2018-2023
10. North America Chocolate Market Forecast: Breakup by Country (USD Billion), 2024-2032
11. Major Importing Countries by Volume
12. Major Exporting Countries by Volume
13. Major Importing Countries by Value
14. Major Exporting Countries by Value
15. North America Chocolate Market Structure
In 2023, the market reached an approximate value of USD 31.17 billion.
The market is expected to grow at a CAGR of 4.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach USD 46.46 billion by 2032.
The market is being driven due to the rising demand for chocolate as a token of love and appreciation and emerging popularity of organic, vegan, and sugar-and gluten-free chocolates in various baked goods, confectioneries, and western desserts, etc.
Key trends aiding the market expansion include growing popularity of nut-infused chocolates, a shift in consumer preferences away from traditional sweet indulgences and increasing consumer expectations of premium products.
Countries considered in the market are United States of America and Canada.
Based on distribution channel, the market segmentations include supermarkets and hypermarkets, convenience stores, and online stores, among others.
Dark chocolate, milk chocolate, and white chocolate are considered in the report.
Key players in the market are Mars, Incorporated, Mondelez International, Inc., Ferrero International S.A., Nestlé S.A., The Hershey Company, Barry Callebaut AG, Grupo Arcor, Chocoladefabriken Lindt & Sprüngli AG, August Storck KG, and Meiji Holdings Co., Ltd., among others.
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