Report Description

Forecast Period

2024-2028

Market Size (2022)

USD20.12 Billion

CAGR (2023-2028)

3.01%

Fastest Growing Segment

Online

Largest Market

South Region


The United States chocolate market is growing by variety of factors such as rising demand for dark chocolates among younger generation and increasing demand for low-fat chocolates in the country.

United States Chocolate Market Scope

Chocolates come from cocoa beans that have been fermented and roasted. Beans are ground to make a pasty liquid called chocolate liquor. It can be hardened in a mold to make bitter chocolate. One can make sweet chocolates by mixing them with sugar and some extra cocoa butter.

Chocolate is a widely consumed sweet confectionery among younger generation that is composed primarily of cocoa solid and cocoa butter, with the addition of other ingredients such as milk and flavorings.

United States Chocolate Market Overview

The United States chocolate market is characterized by a moderately consolidated presence, with major global and regional players holding a significant proportion of the market. Major players in the market include the Hershey Company, Ferrero Group, Lindt & Sprüngli (USA) Inc., etc. The key players in the United States chocolate market adopt a variety of strategies to strengthen their position in the market, including the introduction of new products, mergers and acquisitions, and partnerships. Additionally, marketing campaigns are adopted by the major players to increase their market presence and offerings. Furthermore, manufacturers in the market have been focusing on special occasions such as Valentine’s Day, Easter, and Christmas by offering chocolates in a range of colors and shapes to match the theme.

Chocolate manufacturers have been experimenting with new flavors and ingredients to meet changing consumer preferences in the United States. This includes the use of herbs & fruits as well as other ingredients to create new and innovative chocolate experiences.

While many people are shifting to healthier eating habits, chocolate is still a popular treat and gift for various occasions, including anniversaries, birthdays, and holidays.

United States Chocolate Market Drivers

The United States chocolate market is driven by variety of factors such as high level of demand in the country, strong consumer base, and a consistent consumption pattern. In the United States, people buy chocolates twice a week, and sales are higher during holidays and weekends because people are more likely to reward others with chocolates. The United States has the largest market share of chocolate consumption in North America, as well as the highest production volume. Despite the saturated nature of the overall market, the market for dark chocolates is experiencing significant growth in the United States. This is owing to the growing consumer awareness regarding the health benefits of chocolates.

The growing demand for chocolates with functional advantages is also driving the growth of the United States chocolate market. Chocolate products with functional advantages, such as reduced stress, enhanced concentration, or improved sleep, can capitalize on the rapidly expanding health and wellness market.

United States Chocolate Market Trends

As consumers move toward a healthier lifestyle to improve quality of their life, they are increasingly shifting to natural and organic products such as chocolates. Increasing awareness of products through digital media and social media is helping to educate consumers about the advantages of organic products, which drives the growth of the United States chocolate market. Organic chocolate bars are becoming increasingly popular, providing a lucrative opportunity for chocolate manufacturers to capitalize on the potential markets.

The consumption of dark chocolates is rising in the United States due to its health-promoting qualities and increasing demand among younger generation. Health awareness is on the rise across the nation, and this trend is of great importance to consumers. There are various benefits associated with dark chocolates such as improving memory, increasing immunity, reducing stress, and improving mood. Despite the high prices of dark chocolates, only a small portion of consumers currently purchase them. However, the penetration rate is steadily increasing. This has also led to the leading chocolate companies such as Lindt and Godiva promoting their premium dark chocolates as gifts, as many consumers who prioritize the quality & brand of the chocolate purchase them.

United States Chocolate Market Challenges

A major challenge in the United States chocolate market is rising health & wellness concerns among consumers which may hinder the growth of the United States chocolate market during the forecast period. In recent years, there has been a heightened focus on the health implications of excessive consumption of sugar and fat in chocolate products. As a result, consumers are increasingly looking for healthier alternatives to chocolate, prompting the traditional chocolate sector to innovate and develop healthier alternatives.

Rising competition from substitutes also impede the growth of the United States chocolate market. The chocolate market is facing significant competition from a variety of other snack products, such as nut snacks, healthier bars, granolas, and fruit snacks. These products are seen as healthier alternatives to chocolates and may lead to a shift in consumer preferences from chocolate-based products.

Changing consumer preferences may hinder the growth of the United States chocolate market during the forecast period. Chocolate manufacturers must adjust to the ever-changing needs of consumers to maintain consumer engagement. This can be achieved through the introduction of novel flavors, variations, and packaging options.

Recent Developments

  • In 2023, Ferrero announced the launch of new products as well as seasonal offerings, such as Kinder Chocolate, in conjunction with the Sweets and Snack Expo held annually in Chicago. This announcement is indicative of Ferrero's ambition to stimulate category growth by introducing novel products and broadening the range of products from its renowned brands to generate enthusiasm from retailers, industry stakeholders, and consumers.
  • In 2023, The Hershey Company announced the introduction of two new vegan confectionery products in the United States market which includes “Plant-Based Extra Creamy Olathe Chocolate Bar” and “Reese’s Plant-Based Peanut Butter Cups”.
  • In 2023, Cadbury launched a range of non-high-fructose syrup (HFSS) confectionery, consisting of four new products under the brand name “Cadbury Dairy Milk”. The new trail mix is a combination of fruits, nuts, and Cadbury chocolate, featuring raisins, saffron, cranberry, roasted almonds, and hazelnuts. Cocoa powder is added to the chocolate buttons, making them the perfect accompaniment to the trail mix.
  • In 2023, 7th Heaven Chocolate, a vegan chocolate brand in Israel, was launched in the United States with its award-winning vegan milk chocolate formula. This collection of vegan-friendly chocolates was presented for the first time to the public at Sweets and Snacks Expo Chicago, where the team had demonstrated their cutting-edge approach to creating a chocolate without compromising on flavor or texture.

United States Chocolate Market Opportunities

Consumers nowadays make decisions based on environmental and ethical considerations. This provides an opportunity for companies that focus on sustainable cocoa sourcing, fair trade processes, and open supply chains to draw in socially conscious consumers.

The increasing trend of personalization and customization products in younger generation of United States provide opportunity for the companies to produce customized chocolates to cater to this trend and attract consumers toward their products. Providing customized chocolate packaging, such as customized shapes, messaging, or flavors can lead to a more captivating and memorable customer experience.

The rising popularity of e-commerce sector in the United States provides opportunity to various companies. Online shopping and e-commerce are becoming more popular in the United States, and chocolate companies are looking for new ways to get their products out there. Companies can do this by building their online presence, offering fast shipping, and using social media to get their message out there. Additionally, partnering with other brands or influencers provides an opportunity for chocolate companies to expand their presence and tap into new customer bases.

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Market Segmentation

The United States chocolate market is segmented based on product type, category, distribution channel, and region. Based on product type, the United States chocolate market is segmented into milk chocolate, dark chocolate, and white chocolate. Based on category, the United States chocolate market is segmented into countline, tablets, chocolate pouches and bags, boxed chocolates, and others (seasonal chocolates, chocolate with toys, etc.). Based on distribution channel, the United States chocolate market is segmented into supermarkets/hypermarkets, convenience stores, online, and others (departmental stores, specialty stores, etc.). Based on region, the United States chocolate market is segmented into South, West, Midwest, and Northeast.

Company Profiles

The Hershey Company, Mars Incorporated, Ferrero U.S.A., Inc., Lindt & Sprüngli (USA) Inc., Theo Chocolate, Inc., Fran's Chocolates, Ltd., Recchiuti Confections, TCHO Ventures, Inc., Bon Bon Bon, LLC, and The Chickasaw Nation (Bedré Fine Chocolate) are among the major market players in the United States chocolate market.

Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Million, and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Product Type

Category

Distribution Channel

Region

Regional Scope

South, Midwest, West, and Northeast

Key Companies Profiled

The Hershey Company, Mars Incorporated, Ferrero U.S.A., Inc., Lindt & Sprüngli (USA) Inc., Theo Chocolate, Inc., Fran's Chocolates, Ltd., Recchiuti Confections, TCHO Ventures, Inc., Bon Bon Bon, LLC, and The Chickasaw Nation (Bedré Fine Chocolate), etc.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. 

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)


Report Scope:

In this report, the United States chocolate market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • United States Chocolate Market, By Product Type:
    • Milk Chocolate
    • Dark Chocolate
    • White Chocolate
  • United States Chocolate Market, By Category:
    • Countline
    • Tablets
    • Chocolate Pouches and Bags
    • Boxed Chocolates
    • Others
  • United States Chocolate Market, By Distribution Channel:
    • Supermarkets/Hypermarkets
    • Convenience Stores
    • Online
    • Others     
  • United States Chocolate Market, By Region:
    • South
    • Midwest
    • West
    • Northeast

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the United States chocolate market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

India Hybrid Power Solutions Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]

Table of content

1.    Introduction

1.1.  Product Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Forecasting Methodology

2.6.  Data Triangulation & Validation

2.7.  Assumptions and Limitations

3.    Executive Summary      

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Brand Awareness

4.2.  Frequency of Consumption

4.3.  Factors Influencing the Purchase Decision

4.4.  Challenges Faced After Purchase

5.    United States Chocolate Market Outlook

5.1.  Market Size & Forecast

5.1.1. By Value

5.2.  Market Share & Forecast

5.2.1. By Product Type Market Share Analysis (Milk Chocolate, Dark Chocolate & White Chocolate)

5.2.2. By Category Market Share Analysis (Countline, Tablets, Chocolate Pouches and Bags, Boxed Chocolates, Others (Seasonal Chocolates, Chocolate with Toys, etc.))

5.2.3. By Distribution Channel Market Share Analysis (Supermarkets/Hypermarkets, Convenience Stores, Online, Others (Departmental Stores, Specialty Stores, etc.))

5.2.4. By Regional Market Share Analysis

5.2.4.1.        South Market Share Analysis

5.2.4.2.        Midwest Market Share Analysis

5.2.4.3.        West Market Share Analysis

5.2.4.4.        Northeast Market Share Analysis

5.2.5. By Top 5 Companies Market Share Analysis, Others (2022)

5.3.  United States Chocolate Market Mapping & Opportunity Assessment

5.3.1. By Product Type Market Mapping & Opportunity Assessment

5.3.2. By Category Market Mapping & Opportunity Assessment

5.3.3. By Distribution Channel Market Mapping & Opportunity Assessment

5.3.4. By Regional Market Mapping & Opportunity Assessment

6.    United States Milk Chocolate Market Outlook

6.1.  Market Size & Forecast

6.1.1. By Value

6.2.  Market Share & Forecast

6.2.1. By Category Market Share Analysis

6.2.2. By Distribution Channel Market Share Analysis

7.    United States Dark Chocolate Market Outlook

7.1.  Market Size & Forecast

7.1.1. By Value

7.2.  Market Share & Forecast

7.2.1. By Category Market Share Analysis

7.2.2. By Distribution Channel Market Share Analysis

8.    United States White Chocolate Market Outlook

8.1.  Market Size & Forecast

8.1.1. By Value

8.2.  Market Share & Forecast

8.2.1. By Category Market Share Analysis

8.2.2. By Distribution Channel Market Share Analysis

9.    Market Dynamics

9.1.  Drivers

9.1.1. Growing demand among younger generation

9.1.2. Increasing internet penetration

9.1.3. Rising health consciousness among consumers

9.2.  Challenges

9.2.1. High competition among companies

9.2.2. Increasing competition from substitutes

10.  Impact of COVID-19 on United States Chocolate Market

10.1.   Impact Assessment Model    

10.1.1.              Key Segments Impacted

10.1.2.              Key Regions Impacted

11.  Market Trends & Developments

11.1.   Innovative flavors and ingredients

11.2.   Personalization & customization

11.3.   Growing e-commerce sector

11.4.   Increasing demand of vegan chocolates

11.5.   Growing popularity of organic products

12.  Porter’s Five Forces Model

12.1.   Competitive Rivalry

12.2.   Bargaining Power of Buyers

12.3.   Bargaining Power of Suppliers

12.4.   Threat of New Entrants

12.5.   Threat of Substitutes

13.  SWOT Analysis

13.1.   Strength

13.2.   Weakness

13.3.   Opportunities

13.4.   Threat

14.  United States Economic Profile

15.  Policy & Regulatory Landscape

16.  Competitive Landscape

16.1.   Company Profiles

16.1.1.              The Hershey Company

16.1.1.1.     Company Details

16.1.1.2.     Products & Services

16.1.1.3.     Financial (As per availability)

16.1.1.4.     Key Market Focus

16.1.1.5.     Recent Development

16.1.1.6.     Key Management Personnel

16.1.2.              Mars Incorporated

16.1.2.1.     Company Details

16.1.2.2.     Products & Services

16.1.2.3.     Financial (As per availability)

16.1.2.4.     Key Market Focus

16.1.2.5.     Recent Development

16.1.2.6.     Key Management Personnel

16.1.3.              Ferrero U.S.A., Inc.  

16.1.3.1.     Company Details

16.1.3.2.     Products & Services

16.1.3.3.     Financial (As per availability)

16.1.3.4.     Key Market Focus

16.1.3.5.     Recent Development

16.1.3.6.     Key Management Personnel

16.1.4.              Lindt & Sprüngli (USA) Inc.   

16.1.4.1.     Company Details

16.1.4.2.     Products & Services

16.1.4.3.     Financial (As per availability)

16.1.4.4.     Key Market Focus

16.1.4.5.     Recent Development

16.1.4.6.     Key Management Personnel

16.1.5.              Theo Chocolate, Inc.

16.1.5.1.     Company Details

16.1.5.2.     Financial (As per availability)

16.1.5.3.     Key Market Focus

16.1.5.4.     Recent Development

16.1.5.5.     Key Management Personnel

16.1.6.              Fran's Chocolates, Ltd.  

16.1.6.1.     Company Details

16.1.6.2.     Products & Services

16.1.6.3.     Company Details

16.1.6.4.     Products & Services

16.1.6.5.     Financial (As per availability)

16.1.6.6.     Key Market Focus

16.1.6.7.     Recent Development

16.1.6.8.     Key Management Personnel

16.1.7.              Recchiuti Confections

16.1.7.1.     Company Details

16.1.7.2.     Products & Services

16.1.7.3.     Financial (As per availability)

16.1.7.4.     Key Market Focus

16.1.7.5.     Recent Development

16.1.7.6.     Key Management Personnel

16.1.8.              TCHO Ventures, Inc.

16.1.8.1.     Company Details

16.1.8.2.     Products & Services

16.1.8.3.     Financial (As per availability)

16.1.8.4.     Key Market Focus

16.1.8.5.     Recent Development

16.1.8.6.     Key Management Personnel

16.1.9.              Bon Bon Bon, LLC

16.1.9.1.     Company Details

16.1.9.2.     Products & Services

16.1.9.3.     Financial (As per availability)

16.1.9.4.     Key Market Focus

16.1.9.5.     Recent Development

16.1.9.6.     Key Management Personnel

16.1.10.            The Chickasaw Nation (Bedré Fine Chocolate)  

16.1.10.1.   Company Details

16.1.10.2.   Products & Services

16.1.10.3.   Financial (As per availability)

16.1.10.4.   Key Market Focus

16.1.10.5.   Recent Development

16.1.10.6.   Key Management Personnel

17.  Strategic Recommendations/Action Plan

17.1.   Key Focus Areas

17.2.   Target Product Type

17.3.   Target Distribution Channel

18.  About Us & Disclaimer

 (Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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The growth of the chocolate market in the United States is attributed to a combination of factors, including an increasing population, traditional festivals, and the development of new chocolate-based ingredients.

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Increasing competition among companies and rising competition from substitutes are the major challenges that may hinder the growth of the United States chocolate market.

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The increasing popularity of vegan chocolates and customized products are emerging trends in the United States chocolate market.

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The Hershey Company, Mars Incorporated, Ferrero U.S.A., Inc., Lindt & Sprüngli (USA) Inc., Theo Chocolate, Inc., Fran's Chocolates, Ltd., Recchiuti Confections, TCHO Ventures, Inc., Bon Bon Bon, LLC, and The Chickasaw Nation (Bedré Fine Chocolate) are some of the major players operating in the United States chocolate market.

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Parvati Sharma

Account Manager BD
Press Release

United States Chocolate Market is Expected to Fuel by Milk Chocolates During the Forecast Period

Aug, 2023

The United States chocolate market will grow due the rising demand for vegan chocolates among younger generation, increasing popularity of organic products, and growing e-commerce sector.