North America Chocolate Flavored Candy Market was worth USD XX million in 2022, so it is estimated to reach USD XX million by 2027, growing at a CAGR of XX%.
Overview
Chocolate is among the most popular flavors. Many confectionery foods containing chocolates have been manufactured, primarily sweets such as candies, pudding, mousse, cakes, chocolate chip cookies, and chocolate brownies. Chocolate candies are often regarded as a particular confectionery delicacy, besides chocolate candy bars and chocolate truffles. White chocolate flavor has become the most popular food in hot chocolate and other cocoa-based candies. However, because of the greater percentage of sugars, it is not a significant source of nourishment.
Recent Developments
Due to continually expanding chocolate consumption in India, Barry Callebaut is developing a new local chocolate manufacturing facility in India in 2019, with plans to begin operations by mid-2020.
Valrhona, a French premium chocolate company, has collaborated with Swiss-Ghanaian start-up Koa to develop Oabika, a novel cocoa fruit juice extract for chefs and other culinary experts.
Cadbury Dairy Milk owners Mondelz International announced in September 2021 that the iconic U.K. chocolate brand's wrappers would be constructed using packaging containing up to 30% recycled plastic.
North America's largest cocoa processor and chocolate ingredient distributor, Blommer Chocolate Company, announced that it had joined a burgeoning list of primary producers, including Barry Callebaut, The Hershey Company, Arcor, Ezaki Glico Co, Lindt & Sprüngli, Ritter Sport, and Meiji Co, in working with PETA to end or never promote food and beverage animal tests.
Drivers
The primary factors driving the chocolate-flavored candy market are rising industrialization, westernization, and increasing expendable income. Additional market growth variables include:
An increasing population of young people.
The growing popularity of dark chocolate.
The growth and competitiveness of the confectionery industry.
Consumers' compulsive tendencies have pushed producers to ensure the accessibility of many types of chocolates on a massive scale in the market. In the long run, numerous festival celebrations worldwide will provide attractive and financially rewarding chocolate industry growth chances. Furthermore, the desire for sweet indulgence after meals will pave the door for the chocolate-flavored candy sector to expand further.
Restraints
In the long term, an increase in awareness about the amount of sugar in candies and its detrimental effect on the body would offer a significant threat to the expansion of the chocolate-flavored candy business. Furthermore, the rising number of fat and overweight people will further hamper the sweets market's growth rate. In addition, transforming consumer lifestyles toward healthier aims will slow market growth.
The North America Chocolate Flavoured Candy Market is segmented based on Product Type and Distribution Channel.
By Product Type
Milk chocolate
White chocolate
Dark chocolate
The market can be categorized into milk chocolate, White chocolate, Dark chocolate. Milk chocolate is the most widely available market and accounts for the lion's share of the total market. However, white chocolate is gaining market share because of its distinct flavor, as some children and young adults prefer it to milk chocolate. In addition, white chocolate is also utilized in the preparation of sweets. On the other hand, dark chocolate is favored by fewer people due to the presence of excess cocoa, which lends some bitterness to it. Still, it is gaining popularity due to research indicating that ingesting dark chocolate in moderation can benefit cardiac health.
By Distribution Channel
Supermarkets/ Hypermarkets
Online Retail
Convenience stores
Coffee houses
Personal Use
The market may be divided into Supermarkets/ Hypermarkets, Online Retail, Convenience stores, Coffee houses, Personal Use. The Supermarkets category dominates, accounting for half of the share in the chocolate-flavored candy market, and is likely to maintain dominance during the projection period; supermarkets are the most popular location for acquiring candies. Because of the presence of a large number of chained hypermarkets in industrialized nations and the growing penetration of these in emerging countries, it has a larger share of the chocolate-flavored candy market. Consumers are acquiring candy through online retails because of their busy lifestyles and the rise in the percentage of individuals who have been accustomed to a convenient lifestyle, which is expected to contribute to the high growth rate. Consumers are purchasing chocolates through online retails due to their hectic lifestyle and the increase in the percentage of people getting used to a convenient lifestyle, which is projected to contribute to a rapid growth rate of this category over the forecast period.
Regional Analysis
U.S
Canada
Rest of North America
North America leads the chocolate-flavored candy market and will maintain its influence during the projected period, with the United States and Canada emerging as the main determinants. This is due to the increased consumption of chocolate-based confectionery items, the existence of significant players, and the increasing number of product announcements by big companies. In addition, the increased introduction of new things with novel flavors will generate attractive and potentially profitable market expansion possibilities.
Impact of COVID-19 on North America Chocolate Flavored Candy Market
COVID-19 primarily influences this market in three ways. First, it has a direct impact on production and demand. Second, by disrupting the supply chain and need, and third, the financial implications for businesses and the market. Third, the rise in health consciousness among people is also likely to harm the growth of this firm. COVID-19 also had a significant impact on the retail side of the chocolate-flavored confectionery sector. More people started ordering groceries online, from click-and-collect to home delivery.
Major Players in the North American Chocolate Flavored Candy Market are
Hershey's
Nestle
Mars
Tootsie Roll
Florestal Foods
Colombina S.A.
Tora Foods, LLC
Carmit Candy Industries
Natural Food Works Group
August Storck KG
Lowell International Polska
Access the study in MULTIPLE FORMATS
Purchase options starting from $ 1400
Didn’t find what you’re looking for?
TALK TO OUR ANALYST TEAM
Need something within your budget?
NO WORRIES! WE GOT YOU COVERED!
Call us on: +1 888 702 9696 (U.S Toll Free)
Write to us: sales@marketdataforecast.com
Reports By Region