Description
North America Chocolate Market Research Report Forecast to 2028
Market Overview
The North America chocolate market has observed a substantial CAGR of 3.96% over the last few years. The market growth is anticipated to be driven by the rising consumption of confectionery products across North America. Increasing demand for premium chocolate products is anticipated to act as one of the significant drivers of the chocolate market in North America. The popularity of chocolate as a gift item is likely to upsurge its demand during the forecast period. The rising incidence of obesity is expected to restrict the sales of chocolate during the forecast period. On the other hand, the fluctuating raw material price is also anticipated to create an obstacle for the manufacturers of chocolate.
Chocolate is one of the popular confectioneries among consumers of North America. It is produced from cocoa seeds, cocoa liquor, cocoa butter, sugar, and milk. Chocolate is rich in carbohydrates, and it is an excellent source of instant energy. The high sugar content in chocolate is accelerating the demand for low sugar content chocolate among the population of the US owing to the increasing obesity over the last few years. There are three different types of chocolate available in the market, which include milk, dark, and white. Among that, milk is the popular type among consumers.
Chocolate is the most popular and widely consumed product across North America and has also undergone many transformations to meet changing market demand. It is broadly categorized on the basis of the amount of cocoa it contains. Milk chocolate captures more than 50% of overall chocolate consumption in the region but may contain as little as 10% cocoa. On the other hand, chocolates are considered “dark” if they contain more than 60% cocoa. The market growth is mainly driven by the popularity of chocolate for gifting purposes. Moreover, the growing demand for a premium or healthy ingredients in chocolate products and creative packaging are also fueling the market growth. However, the rising incidence of obesity and other health concerns followed by fluctuating raw material prices are slowing down the market growth. Market players are witnessing several growth opportunities due to the growing demand for health & wellness products and promotional activities.
Market Segmentation
Based on product type, the North America chocolate market has been segmented into the dark, milk, and white. Based on category, the North America chocolate market has been segmented into conventional and organic. Based on nature, the North America chocolate market has been segmented into mass and premium. Based on the distribution channel, the North America chocolate market has been segmented into store-based and non-store-based.
Regional Analysis
The US accounted for the largest market share of 83.52% in 2020, with a market value of USD 22,313.3 million; the market is expected to register a CAGR of 3.78% during the forecast period. Canada was the second-largest market in 2020, valued at USD 3,061.7 million; the market is projected to exhibit a CAGR of 4.05%. However, the market in Mexico is expected to register the highest CAGR of 6.41%.
Major Players
The key players operating in the global chocolate market include Blommer Chocolate Company, Puratos Group, Barry Callebaut, Valrhona, TCHO Chocolate, Paris Gourmet, CasaLuker S.A, Max Felchlin AG, Lindt & Sprüngli AG, and Clasen Quality Chocolate.
COVID 19 Impacts
We are continuously tracking the impact of the COVID-19 pandemic on various industries and verticals within all domains. Our research reports include the same and help you understand the drop and rise, owing to the impact of COVID-19 on the industries. Also, we help you to identify the gap between the demand and supply of your interested market. Moreover, the report helps you with the analysis, amended government regulations, and many other useful insights.
Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
1.1 MARKET ATTRACTIVENESS ANALYSIS
1.1.1 NORTH AMERICA CHOCOLATE MARKET, BY PRODUCT TYPE
1.1.2 NORTH AMERICA CHOCOLATE MARKET, BY CATEGORY
1.1.3 NORTH AMERICA CHOCOLATE MARKET, BY NATURE
1.1.4 NORTH AMERICA CHOCOLATE MARKET, BY DISTRIBUTION CHANNEL
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
2.5 KEY BUYING CRITERIA
3 RESEARCH METHODOLOGY
3.1 RESEARCH PROCESS
3.2 PRIMARY RESEARCH
3.3 SECONDARY RESEARCH
3.4 MARKET SIZE ESTIMATION
3.5 FORECAST MODEL
3.6 LIST OF ASSUMPTIONS & LIMITATIONS
4 MARKET INSIGHTS
5 MARKET DYNAMICS
5.1 INTRODUCTION
5.2 DRIVERS
5.2.1 USE OF PREMIUM OR HEALTHY INGREDIENTS IN CHOCOLATE PRODUCTS
5.2.2 CREATIVE PACKAGING
5.2.3 POPULARITY OF CHOCOLATE FOR GIFTING
5.2.4 DRIVERS IMPACT ANALYSIS
5.3 RESTRAINT
5.3.1 RISING INCIDENCE OF OBESITY AND OTHER HEALTH CONCERNS
5.3.2 FLUCTUATING RAW MATERIAL PRICES
5.3.3 RESTRAINT IMPACT ANALYSIS
5.4 OPPORTUNITIES
5.4.1 GROWING DEMAND FOR HEALTH & WELLNESS PRODUCTS
5.4.2 PROMOTIONAL ACTIVITIES
6 MARKET FACTOR ANALYSIS
6.1 VALUE CHAIN ANALYSIS
6.1.1 RAW MATERIAL PROCUREMENT
6.1.2 PROCESSING
6.1.3 PACKAGING
6.2 SUPPLY CHAIN ANALYSIS
6.3 PORTER’S FIVE FORCES MODEL
6.3.1 THREAT OF NEW ENTRANTS
6.3.2 BARGAINING POWER OF SUPPLIERS
6.3.3 BARGAINING POWER OF BUYERS
6.3.4 THREAT OF SUBSTITUTES
6.3.5 INTENSITY OF RIVALRY
6.4 MPACT OF THE COVID-19 OUTBREAK ON NORTH AMERICA CHOCOLATE MARKET
6.4.1 OVERVIEW
7 NORTH AMERICA CHOCOLATE MARKET, BY PRODUCT TYPE
7.1 OVERVIEW
7.1.1 NORTH AMERICA CHOCOLATE MARKET ESTIMATES & FORECAST, BY PRODUCT TYPE, 2019–2028
7.2 MILK
7.2.1 MILK: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
7.3 DARK
7.3.1 DARK: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
7.4 WHITE
7.4.1 WHITE: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
8 NORTH AMERICA CHOCOLATE MARKET, BY CATEGORY
8.1 OVERVIEW
8.1.1 NORTH AMERICA CHOCOLATE MARKET ESTIMATES & FORECAST, BY CATEGORY, 2019–2028
8.2 CONVENTIONAL
8.2.1 CONVENTIONAL: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
8.3 ORGANIC
8.3.1 ORGANIC: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
9 NORTH AMERICA CHOCOLATE MARKET, BY NATURE
9.1 OVERVIEW
9.1.1 NORTH AMERICA CHOCOLATE MARKET ESTIMATES & FORECAST, BY NATURE, 2019–2028
9.2 MASS
9.2.1 MASS: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
9.3 PREMIUM
9.3.1 PREMIUM: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
10 NORTH AMERICA CHOCOLATE MARKET, BY DISTRIBUTION CHANNEL
10.1 OVERVIEW
10.1.1 NORTH AMERICA CHOCOLATE MARKET ESTIMATES & FORECAST, BY DISTRIBUTION CHANNEL, 2019–2028
10.2 STORE-BASED
10.2.1 STORE-BASED: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
10.3 NON-STORE-BASED
10.3.1 NON-STORE-BASED: MARKET ESTIMATES & FORECAST, BY COUNTRY, 2019–2028
11 NORTH AMERICA CHOCOLATE MARKET, BY COUNTRY
11.1 OVERVIEW
11.2 US
11.3 CANADA
11.4 MEXICO
12 COMPETITIVE LANDSCAPE
12.1 INTRODUCTION
12.1.1 MARKET STRATEGY ANALYSIS
12.2 COMPETITIVE BENCHMARKING
13 COMPANY PROFILES
13.1 BLOMMER CHOCOLATE COMPANY
13.1.1 COMPANY OVERVIEW
13.1.2 FINANCIAL OVERVIEW
13.1.3 PRODUCTS OFFERED
13.1.4 KEY DEVELOPMENTS
13.1.5 SWOT ANALYSIS
13.1.6 KEY STRATEGIES
13.2 PURATOS GROUP
13.2.1 COMPANY OVERVIEW
13.2.2 FINANCIAL OVERVIEW
13.2.3 PRODUCTS OFFERED
13.2.4 KEY DEVELOPMENTS
13.2.5 SWOT ANALYSIS
13.2.6 KEY STRATEGIES
13.3 BARRY CALLEBAUT
13.3.1 COMPANY OVERVIEW
13.3.2 FINANCIAL OVERVIEW
13.3.3 PRODUCTS OFFERED
13.3.4 KEY DEVELOPMENTS
13.3.5 SWOT ANALYSIS
13.3.6 KEY STRATEGIES
13.4 VALRHONA INC.
13.4.1 COMPANY OVERVIEW
13.4.2 FINANCIAL OVERVIEW
13.4.3 PRODUCTS OFFERED
13.4.4 KEY DEVELOPMENTS
13.4.5 SWOT ANALYSIS
13.4.6 KEY STRATEGIES
13.5 LINDT & SPRÜNGLI AG
13.5.1 COMPANY OVERVIEW
13.5.2 FINANCIAL OVERVIEW
13.5.3 PRODUCTS OFFERED
13.5.4 KEY DEVELOPMENTS
13.5.5 SWOT ANALYSIS
13.5.6 KEY STRATEGIES
13.6 TCHO CHOCOLATE
13.6.1 COMPANY OVERVIEW
13.6.2 FINANCIAL OVERVIEW
13.6.3 PRODUCTS OFFERED
13.6.4 KEY DEVELOPMENTS
13.6.5 KEY STRATEGIES
13.7 CASALUKER S.A
13.7.1 COMPANY OVERVIEW
13.7.2 FINANCIAL OVERVIEW
13.7.3 PRODUCTS OFFERED
13.7.4 KEY DEVELOPMENTS
13.7.5 KEY STRATEGIES
13.8 MAX FELCHLIN AG
13.8.1 COMPANY OVERVIEW
13.8.2 FINANCIAL OVERVIEW
13.8.3 PRODUCTS OFFERED
13.8.4 KEY DEVELOPMENTS
13.8.5 KEY STRATEGIES
13.9 CLASEN QUALITY CHOCOLATE
13.9.1 COMPANY OVERVIEW
13.9.2 FINANCIAL OVERVIEW
13.9.3 PRODUCTS OFFERED
13.9.4 KEY DEVELOPMENTS
13.9.5 KEY STRATEGIES
13.10 PARIS GOURMET
13.10.1 COMPANY OVERVIEW
13.10.2 FINANCIAL OVERVIEW
13.10.3 PRODUCTS OFFERED
13.10.4 KEY DEVELOPMENTS
13.10.5 KEY STRATEGIES
14 REFERENCES
Companies Mentioned
Blommer Chocolate Company, Puratos Group, Barry Callebaut, Valrhona, TCHO Chocolate, Paris Gourmet, CasaLuker S.A, Max Felchlin AG, Lindt & Sprüngli AG, and Clasen Quality Chocolate
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