The North America Cocoa and Chocolate Market was worth $ 39.99 billion in 2021 and estimated to be growing at a CAGR of 2.42%, to reach $ 45.07 billion by 2026. 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.
The North America market for Chocolate and Cocoa is categorized by Chocolate Type (White Chocolate, Dark Chocolate, Milk Chocolate and Filled Chocolate), by Cocoa type (Cocoa Powder, Cocoa Butter and Cocoa Liquor). Based on Application, the market is further segmented into Food and Beverage, Cosmetics, Pharmaceuticals and Confectionery. The milk and white chocolate segment is anticipated to grow at the highest rate from 2020 to 2025.
Geographically the North America Cocoa And Chocolate Market is segmented into US, Canada and 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 Players in the Market:
Major Key Players in the North America Cocoa And Chocolate Market are
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Chocolate Type
5.1.1 Introduction
5.1.2 Dark Chocolate
5.1.3 Milk Chocolate
5.1.4 White Chocolate
5.1.5 Filled Chocolate
5.1.6 Y-o-Y Growth Analysis, By Chocolate Type
5.1.7 Market Attractiveness Analysis, By Chocolate Type
5.1.8 Market Share Analysis, By Chocolate Type
5.2 Cocoa Type
5.2.1 Introduction
5.2.2 Cocoa Butter
5.2.3 Cocoa Liquor
5.2.4 Cocoa Powder
5.2.5 Y-o-Y Growth Analysis, By Cocoa Type
5.2.6 Market Attractiveness Analysis, By Cocoa Type
5.2.7 Market Share Analysis, By Cocoa Type
5.3 Application
5.3.1 Introduction
5.3.2 Cosmetics
5.3.3 Pharmaceuticals
5.3.4 Food & Beverage
5.3.5 Confectionery
5.3.6 Y-o-Y Growth Analysis, By Application
5.3.7 Market Attractiveness Analysis, By Application
5.3.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Chocolate Type
6.1.3.3 By Cocoa Type
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Chocolate Type
6.1.4.3 By Cocoa Type
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Chocolate Type
6.1.5.3 By Cocoa Type
6.1.5.4 By Application
6.2 United States
6.3 Canada
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1 Cargill
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 ADM
8.3 Bunge
8.4 Barry Callebaut
8.5 Plot Ghana
8.6 Dutch Cocoa
8.7 Cocoa Processing Company Limited
8.8 Indcresa
8.9 Blommer
8.10 JB Foods Limited
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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