Summary

United States chocolate market was valued at approximately USD20 billion in 2020 and it is anticipated to reach over USD26 billion by the end of 2026, registering a CAGR of over 5.59% during the forecast period owing to the increasing availability of premium chocolates, prompted by consumers’ desire to consume chocolates and rising food culture. Furthermore, a wide range of new and innovative chocolates being offered by the manufacturers and easy availability within local market are expected to boost the demand for chocolates in the United States market.

Chocolate consumption is related to a longer life span as per some studies. According to the Harvard School of Public Health, eating a few pieces of chocolate per month can make life both sweeter and longer. According to a poll of healthy 65-year-old males, those who ate chocolate 1-3 times a month had lower mortality rate, however those who ate it 3 or more times a week had higher diabetic issues.

The United States chocolate market is segmented into product type, category, distribution channel, region, and company. Chocolate has become one of the most popular food items which is available in different categories within the United States. Based on product type, the United States chocolate market is further segmented into milk chocolate, dark chocolate, and white chocolate. Out of which, milk chocolate holds a maximum market share of around 58% in 2020, as milk chocolate has high calcium as compared dark chocolate to maintain strong bones and to sustain the healthy function of hearts, muscles, and nerves.

Based on category, the United States chocolate market is divided into countline, tablets, chocolate pouches and bags, boxed chocolates, others (seasonal chocolates, chocolate with toys, etc.). Out of which, the tablet is the fastest-growing segment with a CAGR of around 6% during the forecast period. The demand for tablet segments has increased in recent years. Chocolates are also depicted as a sign of happiness, appreciation, and love, and even they are presented as gifts over the holiday season, which are some of the reasons for driving up the seasonal chocolate demand. Chocolates are manufactured in different shapes, sizes, and colors as per the occasion. The big four seasons for seasonal chocolate, including Valentine’s Day, Easter, Halloween, and the winter holidays, have long led to huge spikes in sales and endless opportunities for new and innovative seasonal chocolates in the United States chocolate market.

Based on the distribution channel, the market is segmented into supermarkets/hypermarkets, departmental stores, convenience stores, online channels, and others (independent store, specialty, etc.). Online stores is the fastest-growing segment, having a CAGR of around 6.75% in the forecast period. Due to a growing number of Internet users, ease of access, availability on a 24/7 basis, and several choices to choose from, segment is anticipated to witness growth in the forecast period.

The Hershey Company, Mars Incorporated (Mars Wrigley Confectionery Us, LLC), Ferrero U.S.A., Inc., and Lindt & Sprungli (usa) Inc. are few of the prominent players operating in the United States chocolate market. The manufacturers are continuously focused on the development of new chocolate products to enhance their product portfolio and capture the market share. As on 25th June 2021, The Hershey Company acquired Lily’s confectionery brand to enhance its product portfolio to offer a variety of choices of chocolate products to meet the evolving needs of its consumers. This is one of the recent examples for the expansion of chocolate industry through acquisition.

Years considered for this report:
Historical Years: 2016-2020
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
• To analyze the historical growth in the market size of the United States chocolate market from 2016 to 2020.
• To estimate and forecast the market size of the United States chocolate market from 2021 to 2026 and growth rate until 2026.
• To classify and forecast the United States chocolate market based on product type category, distribution channel, region, and company.
• To identify dominant region or segment in the United States chocolate market.
• To identify drivers and challenges for the United States chocolate market.
• To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the United States chocolate market.
• To identify and analyze the profile of leading players operating in the United States chocolate market.
• To identify key sustainable strategies adopted by market players in the United States chocolate market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the United States. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of United States chocolate market using a top-down approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
• Chocolate manufacturers, suppliers, distributors
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums, and alliances related to chocolate industry
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, 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:
o Milk Chocolate
o Dark Chocolate
o White Chocolate
• United States Chocolate Market, By Category:
o Countline
o Tablets
o Chocolates Pouches & Bags
o Boxed Chocolates
o Others (Seasonal Chocolates, Chocolate with Toys, etc.)
• United States Chocolate Market, By Distributional Channel:
o Supermarkets/Hypermarket
o Departmental Store
o Convenience Store
o Online Channel
o Others (Independent Stores, Specialty etc.)

• United States Chocolate Market, By Region:
o South
o Mid-West
o West
o North-West
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).

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