Dublin, May 29, 2024 (GLOBE NEWSWIRE) -- The "United States Chocolate Market Report by Type, Distribution Channel, States and Company Analysis 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The United States Chocolate Market was valued at US$ 34.03 billion in 2023. The analyst predicts it will grow at a CAGR of 3.79% from 2024 to 2032. It is projected to reach US$ 47.56 billion by 2032.
The reputation of chocolate is witnessing a vast rise in the United States. Increasing disposable profits encourages clients to splurge on premium chocolate products. The versatility of chocolate ranges from indulgent cakes to artisanal creations. This appeals to a diverse audience. Health-conscious consumers are drawn to dark chocolate for its antioxidant properties and perceived health benefits. Social media and culinary tendencies also drastically promote chocolate as a stylish and lavish treat. This growing fondness for chocolate reflects the evolving popularity of chocolate from an insignificant confection to a cultural icon within the American culinary panorama.
A growing allure for Luxury Chocolates
Impulse purchases and a developing charm for luxurious chocolates propel the United States chocolate market. Triggered by charming shows or promotions, impulse buying drastically boosts income. An increasing number of consumers seek indulgent experiences, favoring upscale and artisanal manufacturers. This trend reflects a yearning for sensory satisfaction and the belief in chocolate as a rewarding treat.
Premium chocolate, including brands like Lindt, Ghirardelli, and Ferrero Rocher, caters to this call for specialized, higher-priced merchandise. According to the National Confectioners Association, premium chocolate holds the second-largest target audience, with 67% of purchasers sometimes purchasing it and nearly 30% favoring it over mainstream or high-quality options.
High consumer confidence in seasonal chocolate and candy presents growth opportunities
The sales of chocolate in the United States enjoy significant growth in the festive seasons, like Halloween and Christmas. This is vital for reviving the U.S. chocolate market because it drives purchaser interest and boosts sales. Chocolates are frequently exchanged as presents and used as seasonal treats during these activities.
The National Confectioners Association (NCA) reviews that Valentine's Day, Easter, Halloween, and winter vacations are the key reasons that generate sixty-four percent of chocolate and candy income from chocolate and candy sales. Chocolate's association with indulgence and tradition during these periods stimulates consumption, increasing sales for manufacturers and shops.
Introduction of Innovative New Flavors and Ingredients
United States chocolate manufacturers respond to changing patron preferences by innovative new flavors and ingredients. This evolution reflects the desire for particular taste experiences among consumers. Manufacturers are exploring various substances, including exotic fruits, spices, nuts, and savory elements, to create attractive chocolate types.
Manufacturers can distinguish themselves within the exceedingly competitive chocolate market in the United States by incorporating innovative services, like Royce Chocolate's well-regarded green tea merchandise. These improvements enchant a broader audience and might cause commercial enterprises to increase.
Health benefits of Chocolates
The growing know-how of dark chocolate's fitness advantages and its wealthy antioxidants drive the US chocolate market. As referred to through Johns Hopkins Medicine, antioxidants in dark chocolate enhance heart fitness, cognitive features, and temper. Its anti-inflammatory properties and blood pressure reduction entice health-aware consumers and growing demand for quality dark chocolate products. Manufacturers leverage this trend, emphasizing fitness advantages, fueling market growth, and positioning chocolate as a guilt-free indulgence.
Hypermarkets and Supermarkets might command the United States Chocolate Market
Hypermarkets and supermarkets may dominate the market because of their extensive presence. This offers comfort and accessibility to purchasers. These retail giants leverage their expansive shelf area to showcase numerous chocolate brands and products, catering to various patron possibilities. Their capacity to offer competitive and promotional pricing also solidifies their position as a primary phase within the chocolate market.
California Chocolate Market
The California chocolate market could develop notably because of its vast population, numerous customer alternatives, and vibrant food culture. The state's popularity for culinary excellence fosters numerous artisanal chocolate makers, improving market vibrancy. Increasing cognizance of dark chocolate's health advantages and demand for quality and natural products align with California's fitness-conscious client base. For instance, Navitas, famous for its unprocessed raw cacao, has transitioned to regenerative practices in its delivery chain. Favorable agricultural conditions and strategic distribution similarly aid the market boom.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $34.03 Billion |
| Forecasted Market Value (USD) by 2032 | $47.56 Billion |
| Compound Annual Growth Rate | 3.7% |
| Regions Covered | United States |
Company Analysis: Overview, Recent Developments, Revenue Analysis
- Nestle S.A.
- The Hershey Company
- Mondelez International, Inc.
- General Mills Inc.
- Cargill Inc.
- Saputo Inc.
- Chocoladefabriken Lindt and Sprungli AG
- Godiva Chocolates
Type - United States Chocolate Market breakup in 2 viewpoints:
- Dark Chocolate
- Milk/White Chocolate
Distribution Channel - United States Chocolate Market breakup in 4 viewpoints:
- Hypermarkets/Supermarkets
- Convenience Stores
- Online Retail Stores
- Other Distribution Channel
States - United States Chocolate Market breakup 29 States:
- California
- Texas
- New York
- Florida
- Illinois
- Pennsylvania
- Ohio
- Georgia
- New Jersey
- Washington
- North Carolina
- Massachusetts
- Virginia
- Michigan
- Maryland
- Colorado
- Tennessee
- Indiana
- Arizona
- Minnesota
- Wisconsin
- Missouri
- Connecticut
- South Carolina
- Oregon
- Louisiana
- Alabama
- Kentucky
- Rest of the United States
For more information about this report visit https://www.researchandmarkets.com/r/7724rp
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
