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North American Chocolate Confectionery Market Share

ID: MRFR//1000-HCR | 90 Pages | Author: Snehal Singh| November 2024

The North American Chocolate confectionery market is identifiable as an industry setting where the competition is intense, and a market share positioning strategy is what makes the difference between the huge successes or failures of the main players in this constantly evolving industry. Product innovation stands out among the winning solutions, which is one of the techniques companies use. Accepting the fact that the consumer tastes and choosing of healthier options may have a positive or negative impact on their health, the chocolate confectionery manufacturers are investing more and more in research and development to innovate new product categories. It implies creating recipes using healthy ingredients, developing distinct flavors, and formulations that fit into the developing healthy lifestyle. Through the vehicle of constant product innovation companies aim to grab consumers' attention, differentiate brands from those of competitors, pose an advantage over competitors and become successful.

Pricing strategies are also arguably the most effective way to influence the pan American Chocolate Confectionery Market. Companies aim at achieving a harmonized pricing image between enhancing the quality of their products and sustaining on the competitive market. Due to premium pricing policy adopted by some brands they could produce the perception of exclusive and quality products distinguishable for those particular brands and thus some customers may pay for the value they perceive. However, retaining a substantial market share may require more competitive pricing, which is desirable to cater to a larger consumer base. It’s challenging to strike the right price while arranging a clever pricing strategy, as this requires deep perception and market comprehension.

An imperative factor for the North American chocolate confectionery market is brand positioning and advertising strategies which would help create a strong market share. The foundation of brand-building is built by creating a recognizable one, delivering the message right to an audience and building brand loyalty. Marketing schema, which helps the business focus on product quality differentiation, special selling points, and building emotional relationships with the customers creates high brand awareness. Moreover, partnerships and endorsements that aggregate into larger collaborations with influencers and popular names can be a significant determinant in terms of brand appeal, and that will directly determine consumers’ choice in an increasing competitive market.

The market share positioning is influenced not only by ratings but also by distribution and accessibility. The primary objective is to establish convenient access to a myriad of chocolate confectionery items by using multiple sale channels to create a favorable relationship with the regional population. Companies form strategic alliances with the marketplaces, supermarkets and it distributer in order to develop the best distribution networks. Besides high exposure and good visibility along the market streets, the market share of the brands remain great, unlocking impulsive purchases as well as retaining customers as products are ready accessible to them.

North American Chocolate Confectionery Market Highlights:

North American Chocolate Confectionery Market Trends

North American Chocolate Confectionery Market Analysis

North American Chocolate Confectionery Market Share

North American Chocolate Confectionery Companies

North American Chocolate Confectionery Market Overview

North American Chocolate Confectionery Market size was valued at USD 57.4 billion by 2032 Compound annual growth rate (CAGR) of 4.3% from 2024 to 2032. is undergoing slow growth, owing to the changing consumer preference and increasing inclination towards healthier, natural, and clean label products. Furthermore, growing availability of a range of other snack products, such as nuts and meat snacks, have further impacted the growth of the chocolate confectionery market.

Key players in the region are emphasizing on innovation in chocolate confectionery products which is expected to support market growth in the region during the forecast period. Introduction of products with new flavors, such as lemon zest, chocolate products induced with different vegetables, fruits and nuts are gaining popularity among consumers, which will further expected to boost the market growth during the forecast period. Moreover, launches of miniature versions of popular products are expected to boost sale as they contain fewer calories comparatively.

Furthermore, key players are adopting various strategies to attract consumers and boost the market growth such as partnering with celebrities and famous sports personalities to endorse a product, launching new products during festive seasons to drive revenue generation, and creating a presence in digital space to provide consumers with the convenience of home shopping.

Market Segmentation

The North American chocolate confectionery market has been segmented into type, category, distribution channel, and country.

Based on type, the market has been segmented into milk, dark, white. Milk chocolate is a popular choice among consumers and holds a major market share. The dark chocolate segment is expected to dominate the market during the forecast period owing to health benefits of dark chocolates, including their antioxidant properties.

Based on category, the North American chocolate confectionery market has been segmented into chocolate bars, candies, and others.

Based on the distribution channel, chocolate confectionery market in North America has been segmented into store based and non store based. Store based category is further segmented into supermarkets/hypermarkets, convenience store, and others, while e-commerce websites are categorized under the non store based category. The store based segment is expected to show significant growth during the forecast period owing to strong consumer base and a wide variety of product.

Based on country, the market has been segmented into the US, Canada, and Mexico. The US is expected to dominate the North American chocolate confectionery market.

Key players

Mondelez (US), Mars (US), Blommer (US), Puratos (Belgium), Foley’s Candies LP (Canada), Cargill (US), Nestle SA (Switzerland), Hershey (US), Barry Callebaut (Switzerland), Guittard Chocolate Company (US), Valrhona (France), Alpezzi Chocolate (Mexico), Ghirardelli (US), Ferrero (Italy), Republica del Cacao (Ecuador), and Scharffen Berger (US)

Recent Industry Development

Ferrero (known for Nutella and Ferrero Rocher) continues to make strategic acquisitions. In 2023, they acquired Nestle's U.S. confectionery business, which strengthens their position in North America. They also unveiled new Kinder Chocolate products at a sweets expo in Chicago.

Hershey's (June 2024): Pioneered new innovations in retail AR (Augmented Reality) at the 2024 Sweets & Snacks Expo. This shows Hershey's focus on incorporating technology to enhance the customer experience. They were also part of the record-breaking attendance at the Expo.

Mars (May 2024): Appealed to Gen Z through product innovation, focusing on gummies and peanut butter products. This highlights Mars' strategy to cater to evolving consumer preferences. They were also recognized for their focus on sustainability in the confectionery industry.

Regional Market Summary

North American chocolate confectionery Market Share (%), by Region, 2021

North American chocolate confectionery Market Share

Source: Secondary Source, MRFR Analysis

The US is expected to hold the largest share of North American chocolate confectionery market followed by Canada and Mexico. Growing demand for low sugar confectionery products, innovative products such as protein bars and introduction of chocolate products with nuts and fruits in the market is supporting the growth of the North American chocolate confectionery market.

North American chocolate confectionery Market, by Type

Milk

Dark

White

Market by category

Chocolate bars

Candies

Others

Market by Distribution channel

Store Based
- Supermarkets/Hypermarkets
- Convenience Store
- Others

Non Store based

Market by Country

North America

Canada

Mexico

Intended Audience

Cocoa bean producers and suppliers

Raw material suppliers and distributors

Regulatory bodies

Importers and exporters of chocolate confectionery

Trade association and industrial bodies

End-use industries

Supplier of food processing technology

Confectionery manufacturers and suppliers

North American Chocolate Confectionery Companies

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