DUBLIN, Nov. 29, 2023 /PRNewswire/ — The “United States Chocolate Market Competition Forecast & Opportunities, 2028” report has been added to ResearchAndMarkets.com’s offering.
The United States chocolate market is growing by variety of factors such as rising demand for dark chocolates among younger generation and increasing demand for low-fat chocolates in the country.
The United States chocolate market is characterized by a moderately consolidated presence, with major global and regional players holding a significant proportion of the market. Major players in the market include the Hershey Company, Ferrero Group, Lindt & Sprungli (USA) Inc., etc.
The key players in the United States chocolate market adopt a variety of strategies to strengthen their position in the market, including the introduction of new products, mergers and acquisitions, and partnerships. Additionally, marketing campaigns are adopted by the major players to increase their market presence and offerings.
Furthermore, manufacturers in the market have been focusing on special occasions such as Valentine’s Day, Easter, and Christmas by offering chocolates in a range of colors and shapes to match the theme.
Chocolate manufacturers have been experimenting with new flavors and ingredients to meet changing consumer preferences in the United States. This includes the use of herbs & fruits as well as other ingredients to create new and innovative chocolate experiences. While many people are shifting to healthier eating habits, chocolate is still a popular treat and gift for various occasions, including anniversaries, birthdays, and holidays.
United States Chocolate Market Drivers
The United States chocolate market is driven by variety of factors such as high level of demand in the country, strong consumer base, and a consistent consumption pattern. In the United States, people buy chocolates twice a week, and sales are higher during holidays and weekends because people are more likely to reward others with chocolates.
The United States has the largest market share of chocolate consumption in North America, as well as the highest production volume. Despite the saturated nature of the overall market, the market for dark chocolates is experiencing significant growth in the United States. This is owing to the growing consumer awareness regarding the health benefits of chocolates.
The growing demand for chocolates with functional advantages is also driving the growth of the United States chocolate market. Chocolate products with functional advantages, such as reduced stress, enhanced concentration, or improved sleep, can capitalize on the rapidly expanding health and wellness market.
United States Chocolate Market Trends
As consumers move toward a healthier lifestyle to improve quality of their life, they are increasingly shifting to natural and organic products such as chocolates. Increasing awareness of products through digital media and social media is helping to educate consumers about the advantages of organic products, which drives the growth of the United States chocolate market. Organic chocolate bars are becoming increasingly popular, providing a lucrative opportunity for chocolate manufacturers to capitalize on the potential markets.
The consumption of dark chocolates is rising in the United States due to its health-promoting qualities and increasing demand among younger generation. Health awareness is on the rise across the nation, and this trend is of great importance to consumers. There are various benefits associated with dark chocolates such as improving memory, increasing immunity, reducing stress, and improving mood.
Despite the high prices of dark chocolates, only a small portion of consumers currently purchase them. However, the penetration rate is steadily increasing. This has also led to the leading chocolate companies such as Lindt and Godiva promoting their premium dark chocolates as gifts, as many consumers who prioritize the quality & brand of the chocolate purchase them.
United States Chocolate Market Challenges
A major challenge in the United States chocolate market is rising health & wellness concerns among consumers which may hinder the growth of the United States chocolate market during the forecast period. In recent years, there has been a heightened focus on the health implications of excessive consumption of sugar and fat in chocolate products. As a result, consumers are increasingly looking for healthier alternatives to chocolate, prompting the traditional chocolate sector to innovate and develop healthier alternatives.
Rising competition from substitutes also impede the growth of the United States chocolate market. The chocolate market is facing significant competition from a variety of other snack products, such as nut snacks, healthier bars, granolas, and fruit snacks. These products are seen as healthier alternatives to chocolates and may lead to a shift in consumer preferences from chocolate-based products.
Changing consumer preferences may hinder the growth of the United States chocolate market during the forecast period. Chocolate manufacturers must adjust to the ever-changing needs of consumers to maintain consumer engagement. This can be achieved through the introduction of novel flavors, variations, and packaging options.
United States Chocolate Market Opportunities
Consumers nowadays make decisions based on environmental and ethical considerations. This provides an opportunity for companies that focus on sustainable cocoa sourcing, fair trade processes, and open supply chains to draw in socially conscious consumers.
The increasing trend of personalization and customization products in younger generation of United States provide opportunity for the companies to produce customized chocolates to cater to this trend and attract consumers toward their products. Providing customized chocolate packaging, such as customized shapes, messaging, or flavors can lead to a more captivating and memorable customer experience.
The rising popularity of e-commerce sector in the United States provides opportunity to various companies. Online shopping and e-commerce are becoming more popular in the United States, and chocolate companies are looking for new ways to get their products out there. Companies can do this by building their online presence, offering fast shipping, and using social media to get their message out there. Additionally, partnering with other brands or influencers provides an opportunity for chocolate companies to expand their presence and tap into new customer bases.
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the United States chocolate market.
- The Hershey Company
- Mars Incorporated
- Ferrero U.S.A., Inc.
- Lindt & Sprungli (USA) Inc.
- Theo Chocolate, Inc.
- Fran’s Chocolates, Ltd.
- Recchiuti Confections
- TCHO Ventures, Inc.
- Bon Bon Bon, LLC
- The Chickasaw Nation (Bedre Fine Chocolate)
Market Dynamics
Drivers
- Growing demand among younger generation
- Increasing internet penetration
- Rising health consciousness among consumers
Trends & Developments
- Innovative flavors and ingredients
- Personalization & customization
- Growing e-commerce sector
- Increasing demand of vegan chocolates
- Growing popularity of organic products
Challenges
- High competition among companies
- Increasing competition from substitutes
Voice of Customer Analysis (B2C Model Analysis)
- Brand Awareness
- Frequency of Consumption
- Factors Influencing the Purchase Decision
- Challenges Faced After Purchase
Report Scope:
United States Chocolate Market, By Product Type:
- Milk Chocolate
- Dark Chocolate
- White Chocolate
United States Chocolate Market, By Category:
- Countline
- Tablets
- Chocolate Pouches and Bags
- Boxed Chocolates
- Others
United States Chocolate Market, By Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online
- Others
United States Chocolate Market, By Region:
- South
- Midwest
- West
- Northeast
For more information about this report visit https://www.researchandmarkets.com/r/rg17pg
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