North America Cocoa And Chocolate Market

North America Cocoa and Chocolate Market Size (2024 To 2029)

The size of the North America cocoa and chocolate market is expected to be worth USD 16.40 billion in 2024 and grow at a CAGR of 5.12% from 2024 to 2029 to achieve USD 21.06 billion by 2029. The market is showing immense potential in the mentioned period.

Chocolate is classified by the amount of cocoa it contains. Milk chocolates’ share is about 50% of all chocolate consumption but they contain as little as 10% cocoa. On the other hand, chocolate is considered as “dark chocolate” if it has more than 60% cocoa in it.

The cocoa and chocolate market has been growing at a decent pace. Strong demand from United States is propelling the cocoa and chocolate market in the region. Cocoa provides colour, texture and flavour to products. Furthermore, it has anti-oxidative, anti-inflammatory, and anti-depressant properties. The market for these ingredients is growing in developing economies such as China and India. Dark chocolate especially contains high amounts of antioxidants, which are believed to prevent certain types of diseases like Cardiac arrest. Health benefits like these, perceived by certain people and doctors, have been the leading reason behind growth for products with high quantities of cocoa.

Powerful growth in demand is unevenly matched against an unstable and unpredictable supply. But chocolate consumers are quite price insensitive. Except in some rare circumstances consumers are ready to purchase cocoa product at any price. The huge demand for chocolate and cocoa in confectionery and food and beverage industries majorly drives the market. The health benefits of cocoa and chocolate in pharmaceuticals and cosmetics has enough evidence to back manufacturers to consider using such ingredients.

This research report on the North America cocoa and chocolate market is segmented and sub-segmented into the following categories.

North America Cocoa and Chocolate Market By Chocolate Type

• White Chocolate
• Dark Chocolate
• Milk Chocolate
• Filled Chocolate

The milk and white chocolate segment is anticipated to grow at the highest rate from 2024 to 2029

North America Cocoa and Chocolate Market By Cocoa Type

• Cocoa Powder
• Cocoa Butter
• Cocoa Liquor

North America Cocoa and Chocolate Market By Application

• Food And Beverage
• Cosmetics
• Pharmaceuticals
• Confectionery

North America Cocoa and Chocolate Market By Region

• US
• Canada
• Rest of North America

United States has the fastest growth rate, and also has the largest market share in North America. The cocoa liquor segment leads the cocoa market in 2018. Consumer awareness pertaining to health benefits of cocoa has led to some of the important innovations in the North American cocoa and chocolate industry.

KEY MARKET PLAYERS 

Major Key Players in the North America cocoa And chocolate market    are Indcresa, ADM, Cargill, Bunge, Barry Callebaut, Blommer, JB Foods Limited Plot Ghana, and Dutch Cocoa and Cocoa Processing Company Limited