PUBLISHER: Grand View Research | PRODUCT CODE: 1076468
PUBLISHER: Grand View Research | PRODUCT CODE: 1076468
North America Chocolate Market Size, Share & Trends Analysis Report By Type (Dark, Milk, White), By Distribution Channel (Online, Offline), By Country, And Segment Forecasts, 2022 - 2030
North America Chocolate Market Growth & Trends:
The North America chocolate market is expected to reach USD 57.4 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.3% from 2022 to 2030. The health advantages of dark chocolate intake, together with rising demand for this product in a variety of applications such as confectionery and flavored eatables, are expected to drive the growth of North America chocolate market. Chocolate is becoming more popular as moderate consumption of chocolate increases serotonin, which soothes the brain and functions as an antidepressant. It also causes the release of endorphins in the body, which rapidly improves mood. This, in turn, is propelling market expansion.
Rising demand from children as a result of enhanced marketing through social media and television commercial channels by confectionery firms is driving the market expansion. The growing popularity of chocolates as a token of love, appreciation, and happiness that are given as gifts during the holiday season, primarily attracts consumers. Further, packaging, ingredients, authenticity, and the are buying experience, is also expected to boost the chocolate demand. This, in turn, is propelling market expansion.
The milk chocolate segment contributed a majority of the share to become the largest division in the global revenue in 2021. Milk chocolate is popular in North America as it is sweeter and has a softer texture than dark chocolate, but not as sweet and soft as white chocolate. Milk chocolate has a shelf life of roughly 16 months when properly kept. It can also be used in baking when a lighter chocolate flavor is desired.
The online segment is expected to register a faster CAGR from the year 2022 to 2030. The demand from e-commerce platforms has increased due to rising customers' desire for premium chocolate. Wide availability of premium chocolates to choose from via DTC or third-party online platforms is driving the growth of this segment.
The market is consolidated in nature with the presence of a large number of international players and a few regional players. The Hershey Company, Mars Incorporated, Nestle, Ferrero, Chocoladefabriken Lindt & Sprungli AG, and Mondelez International are among the prominent players in North America.
North America Chocolate Market Report Highlights:
- U.S. is expected to contribute a majority of the share to become the largest division in the global revenue in 2021. Chocolate consumption in the U.S. is sustained by strong consumer demand, buying power, and consumption patterns. Chocolate is often purchased twice a week in the U.S., with sales increasing on holidays and weekends as consumers are more likely to treat themselves and others to with chocolate.
- The Mexico segment is projected to register the fastest growth during the forecast period with a CAGR of 5.2% from 2022 to 2030. Revenue in Mexico is likely to be generated by different marketing initiatives implemented by the country's leading manufacturers. By boosting availability at convenience shops and enhancing shelf exposure in retail stores, these firms are targeting the youth market. Seasonal needs for holidays and festivals such as Easter, Christmas, Thanksgiving, and Halloween further fuel the North America chocolate market.
- Offline segment is expected to have a majority of share in 2021 and is likely to maintain its dominance due to supermarkets and hypermarkets, such as Target and Walmart, that are attempting to gain market momentum by carrying European luxury chocolate brands such as Godiva. This broadens the range of overseas participants in the U.S. market.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation& Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Type Outlook
- 2.3. Distribution Channel Outlook
- 2.4. Country Outlook
Chapter 3. North America Chocolate Market Variables, Trends & Scope
- 3.1. Market Introduction
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Impact of COVID-19 on the North America Chocolate Market
- 3.4. Industry Value Chain Analysis
- 3.4.1. Sales/Retail Channel Analysis
- 3.4.2. Profit Margin Analysis
- 3.5. Market Dynamics
- 3.5.1. Driver Impact Analysis
- 3.5.2. Restraint Impact Analysis
- 3.5.3. Industry Challenges
- 3.5.4. Industry opportunities
- 3.6. Business Environment Analysis
- 3.6.1. Industry Analysis - Porter's Five Forces
- 3.6.1.1. Supplier Power
- 3.6.1.2. Buyer Power
- 3.6.1.3. Substitution Threat
- 3.6.1.4. Threat from New Entrant
- 3.6.1.5. Competitive Rivalry
- 3.6.1. Industry Analysis - Porter's Five Forces
- 3.7. Roadmap of North America Chocolate Market
- 3.8. Market Entry Strategies
Chapter 4. Consumer Behavior Analysis
- 4.1. Demographic Analysis
- 4.2. Consumer Trends and Preferences
- 4.3. Factors Affecting Buying Decision
- 4.4. Consumer Product Adoption
- 4.5. Observations & Recommendations
Chapter 5. North America Chocolate Market: Type Estimates & Trend Analysis
- 5.1. Type Movement Analysis & Market Share, 2021 & 2030
- 5.2. Dark
- 5.2.1. Dark chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 5.3. Milk
- 5.3.1. Milk chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 5.4. White
- 5.4.1. White chocolate market estimates and forecast, 2017 - 2030 (USD Million)
Chapter 6. North America Chocolate Market: Distribution Channel Estimates & Trend Analysis
- 6.1. Application Movement Analysis & Market Share, 2021 & 2030
- 6.2. Online
- 6.2.1. Market estimates and forecast through online, 2017 - 2030 (USD Million)
- 6.3. Offline
- 6.3.1. Market estimates and forecast through offline, 2017 - 2030 (USD Million)
Chapter 7. North America Chocolate Market: Regional Estimates & Trend Analysis
- 7.1. Regional Movement Analysis & Market Share, 2021 & 2030
- 7.2. North America
- 7.2.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.2.4. U.S.
- 7.2.4.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.4.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.4.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.2.5. Canada
- 7.2.5.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.5.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.5.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 7.2.6. Mexico
- 7.2.6.1. Market estimates and forecast, 2017 - 2030 (USD Million)
- 7.2.6.2. Market estimates and forecast, by type, 2017 - 2030 (USD Million)
- 7.2.6.3. Market estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
Chapter 8. Competitive Analysis
- 8.1. Key global players, recent developments & their impact on the industry
- 8.2. Key Company/Competition Categorization (Key innovators, Market leaders, Emerging players)
- 8.3. Vendor Landscape
- 8.3.1. Key company market share analysis, 2021
Chapter 9. Company Profiles
- 9.1. The Hershey Company
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Type Benchmarking
- 9.1.4. Strategic Initiatives
- 9.2. Mars Incorporated
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Type Benchmarking
- 9.2.4. Strategic Initiatives
- 9.3. Nestle
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Type Benchmarking
- 9.3.4. Strategic Initiatives
- 9.4. Ferrero
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Type Benchmarking
- 9.4.4. Strategic Initiatives
- 9.5. Chocoladefabriken Lindt & Sprungli AG
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Type Benchmarking
- 9.5.4. Strategic Initiatives
- 9.6. Godiva
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Type Benchmarking
- 9.6.4. Strategic Initiatives
- 9.7. Ghirardelli Chocolate Company
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Strategic Initiatives
- 9.8. Mondelez International
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Type Benchmarking
- 9.8.4. Strategic Initiatives
- 9.9. General Mills Inc.
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Type Benchmarking
- 9.9.4. Strategic Initiatives
- 9.10. Clif Bar & Company
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Type Benchmarking
- 9.10.4. Strategic Initiatives
List of Tables
- 1. North America chocolate market - Key market driver analysis
- 2. North America chocolate market - Key market restraint analysis
- 3. North America dark chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 4. North America milk chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 5. North America white chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 6. North America chocolate market estimates and forecast through online distribution channel, 2017 - 2030 (USD Million)
- 7. North America chocolate market estimates and forecast through offline distribution channel, 2017 - 2030 (USD Million)
- 8. U.S. chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 9. U.S. chocolate market revenue estimates and forecast, by type, 2017 - 2030 (USD Million)
- 10. U.S. chocolate market revenue estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 11. Canada chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 12. Canada chocolate market revenue estimates and forecast, by type, 2017 - 2030 (USD Million)
- 13. Canada chocolate market revenue estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
- 14. Mexico chocolate market estimates and forecast, 2017 - 2030 (USD Million)
- 15. Mexico chocolate market revenue estimates and forecast, by type, 2017 - 2030 (USD Million)
- 16. Mexico chocolate market revenue estimates and forecast, by distribution channel, 2017 - 2030 (USD Million)
List of Figures
- 1. North America chocolate market snapshot
- 2. North America chocolate market segmentation & scope
- 3. North America chocolate market penetration & growth prospect mapping
- 4. North America chocolate market value chain analysis
- 5. North America chocolate market dynamics
- 6. North America chocolate market Porter's analysis
- 7. North America chocolate market: type movement analysis
- 8. North America chocolate market: distribution channel movement analysis
- 9. North America chocolate market: Regional movement analysis
