North America Chocolate Flavored Candy Market

North America Chocolate Flavored Candy Market Size (2024 to 2029)

The chocolate-flavored candy market size in North America was worth USD 27.04 billion in 2023. The North American market is expected to grow at a CAGR of 2.44% from 2024 to 2029 and be worth USD 31.24 billion by 2029 from USD 27.7 billion in 2024.

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. 

The primary factors driving the North American chocolate-flavored candy market include rising industrialization, westernization, and increasing expendable income. In addition, an increasing population of young people, the growing popularity of dark chocolate and the growth and competitiveness of the confectionery industry boost the growth rate of the North American market. The compulsive tendencies of consumers 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.

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.

SEGMENTAL ANALYSIS

Based on product type, milk chocolate is the most widely available market and accounts for the lion's share of the North American 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.

Based on application, the supermarket 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 retail 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

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.

KEY PLAYERS IN THE NORTH AMERICAN CHOCOLATE-FLAVORED CANDY MARKET

Companies playing a noteworthy role in the North American chocolate-flavored candy market include Hershey's, Nestle, Mars, Tootsie Roll, Florestal Foods, Colombina S.A., Tora Foods, LLC, Carmit Candy Industries, Natural Food Works Group, August Storck KG and Lowell International Polska.

RECENT HAPPENINGS IN THE NORTH AMERICAN MARKET

• 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.

DETAILED SEGMENTATION OF THE NORTH AMERICAN CHOCOLATE-FLAVORED CANDY MARKET INCLUDED IN THIS REPORT

This research report on the North American chocolate-flavored candy market has been segmented and sub-segmented based on product type, distribution channel, and country.

By Product Type

• Milk chocolate
• White chocolate
• Dark chocolate

By Distribution Channel

• Supermarkets/ Hypermarkets
• Online Retail
• Convenience stores
• Coffee houses
• Personal Use

By Country

• The U.S.
• Canada
• Rest of North America