Posted On: 1970-01-01
Supermarkets and Hypermarkets acquired the largest share in terms of distribution channel in the North America chocolate market– 6Wresearch
Ease of availability of chocolates at almost every shop or market, increasing impulsive purchasing among consumers due to attractive packaging and expanding retail sector would open up new growth avenues for the growth of North America chocolate market.
According to 6Wresearch, North America chocolate market size is projected to grow at a CAGR of 3.9% during 2019-25. North America is the second largest chocolate market globally and is almost reaching a saturation level. The upcoming sugar free, vegan or organic chocolates are made while keeping in mind the diabetic, health conscious or vegan consumers and this is an excellent move to conquer larger market share.
According to Akshay Thakur, Senior Research Analyst, 6Wresearch, “Milk chocolate segment captured majority of the market share due to its authentic sweet, milky and creamy texture; however, dark chocolate segment with rich cocoa content is likely to exhibit highest growth during the forecast period, owing to health benefits associated with it.”
“Supermarkets and Hypermarkets acquired the largest share in the sales of chocolate owing to the fact that they are prominent in North America as they offer heavy discounts and promotions on various products. Convenience stores and online trading are the emerging distribution channels which would excel the growth of chocolate market in the United States due to much accessibility and convenience offered by both of them.” Akshay further added.
According to Eshita Goel, Research Associate, 6Wresearch, “United States dominated the North America chocolate market owing to the presence of large number of companies dealing in the product as well as increased consumer demand in the region. Moreover, increasing investment by companies in product packaging would further propel the market growth during the forecast period. Growing focus of companies in the innovative flavour of chocolates would also fuel the market demand of chocolates over the coming years.”
Some of the major companies in North America chocolate market include Mars, Ghirardelli, Hershey and Mondelez International.
"North America Chocolate Market (2019-2025)" report provides an in-depth analysis with 11 figures with 6tables, covered in 200pages. The report estimates and forecast the overall North America chocolate market by chocolate types, by distribution channels, by product types and by key countries including the United States and Canada. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.