US Chocolate - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)
The US Chocolate Market size is estimated at 27.07 billion USD in 2024, and is expected to reach 36.72 billion USD by 2030, growing at a CAGR of 5.22% during the forecast period (2024-2030).
Supermarkets, warehouse clubs, and specialty stores continue to captivate a larger consumer base in the segment
Compared to other retail channels, supermarkets and hypermarkets constituted the primary sales channel for chocolate sales in the United States. In 2022, these retail channels accounted for the majority of shares, registering a CAGR of 4.98% during the forecast period of 2023-2030. These retail channels have a strong position due to the wide selection of brands offered, considerable shelf space, and frequent price promotions.
Other distribution channels are the second most widely preferred retail channels for the sales of chocolate. Specialty stores, warehouse clubs, drug stores/pharmacies, vending machines, direct selling, and forecourt retailers cover the sales of chocolates in other distribution channels. The sales value of chocolates through these retail channels registered a growth rate of 11.1% from 2021 to 2023. Other distribution channels, such as warehouse clubs and specialty stores, play a major in the sales of chocolate. They offer a wide range of chocolates in different flavors at low prices. As of 2023, Costco topped the place with more than 587 warehouse clubs across the United States.
The online channel has become one of the fastest-growing retail sales channels for chocolate sales in the United States. With ease and convenience of buying, e-commerce is widely being adopted by consumers. It is also convenient for manufacturing companies to advertise their products through various offers and promotional activities that benefit both the companies and consumers. This is further expected to boost the online sales of chocolates in the forecast period. The sales value of the chocolates through online retail channels is anticipated to register a CAGR of 6.12% during 2023-2029.
US Chocolate Market Trends
The premium chocolate segment is gaining traction due to the growing demand for dark chocolates
The consumption of chocolate has become deeply ingrained in American culture and traditions. Chocolate consumption in the United States increases during major holidays such as Easter, Christmas, and Valentine’s Day. Holiday seasons have more options in package sizes of 200 calories or less.
Flavor and taste are the product attributes that chocolate consumers in the United States seek most when purchasing chocolates. Milk chocolate remains the type of chocolate Americans turn to most, but dark chocolate with a cacao percentage between 71-75% is the most popular form. The availability of flavored chocolates allows consumers to personalize their chocolate consumption.
As far as consumer behavior is concerned, there is a growing trend toward indulgence, with more people willing to spend on premium chocolates. As of 2022, premium chocolate had the second-largest audience, with 67% of chocolate consumers in the United States purchasing it.
The chocolate industry has produced chocolate confectionery in different pack sizes and ingredient proportions to encourage the healthy eating of chocolates among potential consumers. Dark chocolates are perceived as healthy chocolates globally due to their rich content of iron, flavonoids, and antioxidants.
US Chocolate Industry Overview
The US Chocolate Market is fairly consolidated, with the top five companies occupying 67.56%. The major players in this market are Chocoladefabriken Lindt & Sprьngli AG, Ferrero International SA, Mars Incorporated, Mondel?z International Inc. and The Hershey Company (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Supermarkets, warehouse clubs, and specialty stores continue to captivate a larger consumer base in the segment
Compared to other retail channels, supermarkets and hypermarkets constituted the primary sales channel for chocolate sales in the United States. In 2022, these retail channels accounted for the majority of shares, registering a CAGR of 4.98% during the forecast period of 2023-2030. These retail channels have a strong position due to the wide selection of brands offered, considerable shelf space, and frequent price promotions.
Other distribution channels are the second most widely preferred retail channels for the sales of chocolate. Specialty stores, warehouse clubs, drug stores/pharmacies, vending machines, direct selling, and forecourt retailers cover the sales of chocolates in other distribution channels. The sales value of chocolates through these retail channels registered a growth rate of 11.1% from 2021 to 2023. Other distribution channels, such as warehouse clubs and specialty stores, play a major in the sales of chocolate. They offer a wide range of chocolates in different flavors at low prices. As of 2023, Costco topped the place with more than 587 warehouse clubs across the United States.
The online channel has become one of the fastest-growing retail sales channels for chocolate sales in the United States. With ease and convenience of buying, e-commerce is widely being adopted by consumers. It is also convenient for manufacturing companies to advertise their products through various offers and promotional activities that benefit both the companies and consumers. This is further expected to boost the online sales of chocolates in the forecast period. The sales value of the chocolates through online retail channels is anticipated to register a CAGR of 6.12% during 2023-2029.
US Chocolate Market Trends
The premium chocolate segment is gaining traction due to the growing demand for dark chocolates
The consumption of chocolate has become deeply ingrained in American culture and traditions. Chocolate consumption in the United States increases during major holidays such as Easter, Christmas, and Valentine’s Day. Holiday seasons have more options in package sizes of 200 calories or less.
Flavor and taste are the product attributes that chocolate consumers in the United States seek most when purchasing chocolates. Milk chocolate remains the type of chocolate Americans turn to most, but dark chocolate with a cacao percentage between 71-75% is the most popular form. The availability of flavored chocolates allows consumers to personalize their chocolate consumption.
As far as consumer behavior is concerned, there is a growing trend toward indulgence, with more people willing to spend on premium chocolates. As of 2022, premium chocolate had the second-largest audience, with 67% of chocolate consumers in the United States purchasing it.
The chocolate industry has produced chocolate confectionery in different pack sizes and ingredient proportions to encourage the healthy eating of chocolates among potential consumers. Dark chocolates are perceived as healthy chocolates globally due to their rich content of iron, flavonoids, and antioxidants.
US Chocolate Industry Overview
The US Chocolate Market is fairly consolidated, with the top five companies occupying 67.56%. The major players in this market are Chocoladefabriken Lindt & Sprьngli AG, Ferrero International SA, Mars Incorporated, Mondel?z International Inc. and The Hershey Company (sorted alphabetically).
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 EXECUTIVE SUMMARY & KEY FINDINGS
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Regulatory Framework
4.2 Consumer Buying Behavior
4.3 Ingredient Analysis
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VALUE IN USD AND VOLUME, FORECASTS UP TO 2030 AND ANALYSIS OF GROWTH PROSPECTS)
5.1 Confectionery Variant
5.1.1 Dark Chocolate
5.1.2 Milk and White Chocolate
5.2 Distribution Channel
5.2.1 Convenience Store
5.2.2 Online Retail Store
5.2.3 Supermarket/Hypermarket
5.2.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Albanese Confectionery Group Inc.
6.4.2 Barry Callebaut AG
6.4.3 Chocoladefabriken Lindt & Sprьngli AG
6.4.4 Ezaki Glico Co. Ltd
6.4.5 Ferrero International SA
6.4.6 Guittard Chocolate Company
6.4.7 Mars Incorporated
6.4.8 Mast Brothers & Co.
6.4.9 Mondel?z International Inc.
6.4.10 Salmon River Foods Inc.
6.4.11 TCHO Ventures Inc.
6.4.12 The Hershey Company
6.4.13 Vosges Haut-Chocolat LLC
6.4.14 Whitmore Family Enterprises LLC
6.4.15 Y?ld?z Holding AS
7 KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
2 REPORT OFFERS
3 INTRODUCTION
3.1 Study Assumptions & Market Definition
3.2 Scope of the Study?
3.3 Research Methodology
4 KEY INDUSTRY TRENDS
4.1 Regulatory Framework
4.2 Consumer Buying Behavior
4.3 Ingredient Analysis
4.4 Value Chain & Distribution Channel Analysis
5 MARKET SEGMENTATION (INCLUDES MARKET SIZE IN VALUE IN USD AND VOLUME, FORECASTS UP TO 2030 AND ANALYSIS OF GROWTH PROSPECTS)
5.1 Confectionery Variant
5.1.1 Dark Chocolate
5.1.2 Milk and White Chocolate
5.2 Distribution Channel
5.2.1 Convenience Store
5.2.2 Online Retail Store
5.2.3 Supermarket/Hypermarket
5.2.4 Others
6 COMPETITIVE LANDSCAPE
6.1 Key Strategic Moves
6.2 Market Share Analysis
6.3 Company Landscape
6.4 Company Profiles
6.4.1 Albanese Confectionery Group Inc.
6.4.2 Barry Callebaut AG
6.4.3 Chocoladefabriken Lindt & Sprьngli AG
6.4.4 Ezaki Glico Co. Ltd
6.4.5 Ferrero International SA
6.4.6 Guittard Chocolate Company
6.4.7 Mars Incorporated
6.4.8 Mast Brothers & Co.
6.4.9 Mondel?z International Inc.
6.4.10 Salmon River Foods Inc.
6.4.11 TCHO Ventures Inc.
6.4.12 The Hershey Company
6.4.13 Vosges Haut-Chocolat LLC
6.4.14 Whitmore Family Enterprises LLC
6.4.15 Y?ld?z Holding AS
7 KEY STRATEGIC QUESTIONS FOR CONFECTIONERY CEOS
8 APPENDIX
8.1 Global Overview
8.1.1 Overview
8.1.2 Porter’s Five Forces Framework
8.1.3 Global Value Chain Analysis
8.1.4 Market Dynamics (DROs)
8.2 Sources & References
8.3 List of Tables & Figures
8.4 Primary Insights
8.5 Data Pack
8.6 Glossary of Terms
