North America Chocolate Based Spreads Market size was worth USD xx billion in 2020 and estimated to be growing at a CAGR of xx%, to reach USD xx billion by 2026. Chocolate spread is a sweet chocolate-flavored paste that is eaten mostly spread on toasts and bread or similar grain products such as waffles, muffins, pancakes, and pitas.
Although chocolate spreads taste, smell, and look like chocolate, it does not solidify, even at room temperature. The paste typically contains cocoa and palm or vegetable oil and is also likely to contain sugar, milk, and additional flavours. At times, it also includes nuts such as ground hazelnuts or honey. Chocolate spread is normally sold in plastic tubs or glass jars.
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The key driving factors of the North America Chocolate Based Spreads market are shifting consumer taste preferences and growing spending on chocolate and other confectionery products. Growing urbanization, widespread availability of chocolate, and growing awareness about the various health benefits which can be obtained from the consumption of chocolate and derived products will remain another key factor fuelling the market for chocolate-based spreads North America. The chief constraint of the Chocolate Based Spreads market is the uncertain economy of the cocoa supply which is likely to raise chocolate prices.
The North America Chocolate Based Spreads market is segmented based on type into milk chocolate, dark chocolate, and white chocolate. Milk chocolate is expected to have the largest share in the segment. By frequency of sale, the market is categorized into premium chocolate, daily chocolate, and seasonal chocolate. Daily chocolate leads the market in this segment. By distribution channel, the market is divided into supermarkets and hypermarkets, grocery stores, specialty stores and online retail.
The North America Chocolate Based Spreads market is divided based on geography into the United States, Canada, and Mexico. North America has the largest market in the world for chocolate-based spreads. In the North American region, the United States has the largest market share. Factors such as rising disposable incomes and changing consumer preferences are expected to propel the market growth in the region.
Some of the major players in the market are J.M. Smucker, Kraft Foods, Unilever Group, ConAgra Foods Inc., Ferrero Group, Hershey Co., B & G Foods Inc., Nestle, Wellness Foods, and Premier Foods among others.
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