United States Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United States Chocolate Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

United States chocolate market is projected to grow at a CAGR of 4% during the forecast period (2020 - 2025).

Key Highlights

• Chocolate consumption in the region is supported by the high demand, purchasing power, and consumption pattern of the consumers. In the United States, chocolate eaters normally buy chocolate twice a week and its sale increases on holidays and weekends, as consumers are more likely to treat themselves and others with chocolate.
• The United States holds the largest market share in North America, in terms of chocolate consumption and production volumes.
• The overall market is saturated and is growing with a moderate growth rate. Nevertheless, the dark chocolate market segment is growing with a high growth rate due to the awareness of its health benefits among consumers.

Key Market TrendsIncreasing Demand of Premium And Healthy Chocolates

The premium chocolate market is quite popular in the United States, as people in the country prefer treating themselves with bite-sized chocolates to limit their confectionary consumption. Dark chocolate is fitting pleasantly with the ‘clean eating’ trend in the country. Since dark chocolate was found to have numerous health benefits, the consumers are opting for premium dark chocolates to have guilt-free experience. The supermarkets and hypermarkets, like Target and Walmart, are trying to gain higher market traction by stocking up European premium chocolate brands like Godiva. This increases the scope of international players in the United States market. Moreover, factors such as the increased pace of innovation and a steady influx of private labels players, such as SPAGnVOLA Chocolatier, have further contributed to the premium chocolate market in the country.

Dark Chocolate is the Fastest Growing Segment Owing to its Health Benefits

The consumption of dark chocolate is increasing in the United States owing to its health benefits. Health awareness is sweeping throughout the country. This trend is very important for consumers, and it has increased the demand for dark chocolate in the country as it has benefits like it can improve stress, memory, immunity, and mood. Although high-prices of these chocolates meant that only a small percentage of consumers currently buy dark chocolate, the penetration is growing at a steady pace. This has also resulted in the leading chocolate companies, such as Lindt and Godiva, positioning their premium dark chocolates as gifting options. Many consumers who are more inclined toward the brand and quality of the chocolate buy these premium dark chocolates.

Competitive Landscape

The United States chocolate market is moderately consolidated, with the significant presence of global players, as well as regional players. Global players, which held a prominent share include The Hershey Company, Ferrero Group, Mondelez International, and Nestle. Key players in the United States chocolate market adopt key strategies, such as new product innovation, mergers, and acquisitions, followed by partnerships.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

The Hershey Company
Meiji Holdings Co., Ltd.
Mars, Incorporated
Ferrero
Nestle SA
Mondelez International
August Storck KG
Lindt & Sprungli AG

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