The North America confectionery market is expected to reach USD 58 billion by 2023, witnessing a stable CAGR of 3.3%, during the forecast period. Confectionery consumption volume in the region surpassed 3,132 million Kg in 2017, moving at steady volume growth rate.
Chocolate dominates the market owing to increased cocoa product consumption. US is the largest market accounting for more than 75% of the confectionery volume share. Increased demand for higher quality cocoa products and premium chocolate accelerated confectionery sale in North America.
Organic in High Demand
Consumer interests in organic chocolate are growing in North America. However, organic chocolate represents a very small share in the market at present. The US remains the most significant market with organic confectionery sale. Consumer awareness about the sourcing of raw material that is organic is the primary driver for the market.
The global organic chocolate market valued at USD 732 million in 2012, which reordered a steady growth rate. About 15% of US chocolate buyer purchase organic chocolate despite its premium price. Chocolates launch with organic claim increased 6% during 2014-2016. Clean label claim products such as all-natural, preservative-free are further driving the chocolate market in the region.
Chocolate Craving Dominates
North American chocolate confectionery volume surpassed 1,604 million Kg in 2017 with moulded chocolate leading the segment. Moulded chocolate holds 33% of the chocolate volume share, which is followed by Countlines and softlines Countlines is the most consumed chocolates in the region, which is growing at a steady rate of 3%.
The demand for countline sales crossed USD 8,067 million in 2017; driven by on-the-go and convenient pack style of products. Boxed assortments sale is growing in the region owing to seasonal chocolate gifting trend demand for premium chocolate and attractive packaging. However, the government regulation regarding sugar tax and promotion activity for sharing bags are the major restraints affecting confectionery market growth.
Key Topics Covered
1. Introduction 1.1 Key Deliverables of the Study 1.2 Study Assumptions 1.3 Scope of the Market
2. Research Approach and Methodology 2.1 Introduction 2.2 Research Design 2.3 Study Timelines 2.4 Study Phases 2.4.1 Secondary Research 2.4.2 Discussion Guide 2.4.3 Market Engineering and Econometric Modeling 2.4.4 Expert Validation
3. Market Overview 3.1 Market Trends 3.2 Market Dynamics 3.2.1 Drivers 184.108.40.206 Consumer Preferance for Healthy Confectionery 220.127.116.11 Impulse Purchasing and Indulgence 18.104.22.168 Increased Demand of on-the-go Snacking 3.2.2 Restraints 22.214.171.124 Health Concern Related to High Sugar Content 126.96.36.199 Fluctuating Raw Material Prices, such as Cocoa, Vanilla, and tax on Sugar Tax 3.2.3 Opportunities 188.8.131.52 Growing Demand of Functional Confectionery 3.2.4 Porter's Five Forces Analysis 184.108.40.206 Bargaining Power of Suppliers 220.127.116.11 Bargaining Power of Buyers 18.104.22.168 Threat of New Entrants 22.214.171.124 Threat of Substitute Products and Services 126.96.36.199 Degree of Competition
4. Market Segmentation 4.1 By Product Type 4.1.1 Chocolate 188.8.131.52 Alfajores 184.108.40.206 Softlines/Selflines 220.127.116.11 Boxed Assortments 18.104.22.168 Chocolate With Toys 22.214.171.124 Countlines 126.96.36.199 Seasonal Chocolate 188.8.131.52 Molded Chocolate 184.108.40.206 Other Chocolate Confectionery 4.1.2 Gum 220.127.116.11 Bubble Gum 18.104.22.168 Chewing Gum 22.214.171.124 Chewing Gum 4.1.3 Sugar Confectionery 126.96.36.199 Boiled Sweets 188.8.131.52 Liquorice 184.108.40.206 Lollipops 220.127.116.11 Medicated Confectionery 18.104.22.168 Mints 22.214.171.124 Mints 126.96.36.199 Pastilles, Gums, Jellies, and Chews 188.8.131.52 toffees, Caramels, and Nougat 184.108.40.206 Other Sugar Confectionery 4.1.4 Snack Bar 220.127.116.11 Cereal Bars 18.104.22.168 Energy Bars 22.214.171.124 Other Snack Bars 4.2 By Distribution Channel 4.2.1 Warehouse Clubs 4.2.2 Convenience Stores 4.2.3 Specialist Retailers 4.2.4 Supermarkets and Hypermarkets 4.2.5 Online Retail 4.2.6 Variety Stores 4.2.7 Department Stores 4.2.8 Vending Machines 4.2.9 Others 4.3 By Geography 4.3.1 North America 126.96.36.199 United States 188.8.131.52 Canada 184.108.40.206 Mexico
5. Competitive Landscape 5.1 Market Share Analysis 5.2 Strategy Adopted by Key Players 5.3 Most Active Companies in the Past Five Years
6. List of Company Profiles 6.1 Overview 6.2 Products & Services 6.3 Financials 6.4 Key Developments 6.5 Strategies Adopted 6.6 SWOT Analysis of Major Five Players
7. Companies Covered 7.1 Mondelz international Inc. 7.2 Mars Inc. 7.3 Nestle SA 7.4 Ferrero Group 7.5 Meiji Co. Ltd 7.6 Hershey Co 7.7 Lotte Confectionery Co. Ltd 7.8 Grupo Bimbo, S.A.B. de C.V. 7.9 Lotte Group 7.10 Clif Bar & Company 7.11 QuestNutrition LLC 7.12 Wm. Wrigley Jr. Company