North America Premium Chocolate Market Overview
According to SPER Market Research, the North America Premium Chocolate Market is estimated to reach USD 131.52 billion by 2033 with a CAGR of 4.31%.
Premium chocolate is a category of chocolate that contains a higher proportion of cocoa solids compared to regular chocolate milk. This term encompasses several aspects, including the use of a greater amount of cocoa in the chocolate bar, the sourcing of cocoa from Fairtrade and sustainable practices, the incorporation of additional ingredients like raspberry chunks or alcohol, and the packaging design that exudes a more refined aesthetic. Furthermore, premium chocolate is crafted using whole milk instead of skim milk, resulting in a higher fat content. This contributes to a more indulgent flavor and a thicker texture compared to regular chocolate milk.
Exploring the Growth Drivers of the North America Premium Chocolate Industry.
The premium chocolate market in North America is expanding significantly as a result of numerous important factors. First off, the development of the luxury chocolate sector has been affected by the growing knowledge and respect for ethical and sustainable sourcing methods. Consumers are increasingly aware of the place where the cocoa beans come from and the effects that chocolate production has on society and the environment. Fair trade, organic ingredients, and transparent supply chains are becoming increasingly important for high-end chocolate businesses.
Additionally, the practise of giving expensive chocolate as gifts has helped the sector expand. Demand is also fueled by the perception that premium chocolates are elegant and thoughtful gifts for special occasions. The consumption of cocoa products, including premium chocolates, has been associated with various health benefits, which is expected to drive the growth of the premium chocolate market. These benefits include a potential decrease in hypertension, reduced chronic fatigue syndrome, and protection against sunburn. Cocoa is also rich in polyphenols, which help protect the body's tissues against oxidative stress and associated ailments such as cancer and inflammation
What challenges does the North America Premium Chocolate Market face?
There are a number of obstacles that the premium chocolate market in North America must overcome before it can expand and succeed. The North American market for premium chocolate is fiercely competitive, with several well-known and up-and-coming brands competing for consumers' attention. Manufacturers are under pressure from the competition to distinguish their goods and maintain a high level of quality in order to draw in and keep customers. Premium chocolate's primary ingredient, cocoa, can fluctuate in price due to a variety of reasons, including the weather, supply-demand dynamics, and political unrest in cocoa-producing nations. In terms of cost control and price stability, manufacturers may face difficulties as a result of fluctuating cocoa prices.
In what ways has the COVID-19 pandemic affected North America Premium Chocolate Market?
The COVID-19 pandemic has affected the luxury chocolate market in North America in both positive and negative ways. One the one hand, as people sought solace and enjoyment amid uncertain times, there has been a rise in demand for high-end chocolates. People began giving and indulging themselves to fine chocolates as people spent more time at home. However, the epidemic interrupted the supply chain, making it difficult to source raw ingredients and manufacture products. Additionally, it brought about temporary store closings, a decline in foot traffic, and a change in consumer buying habits. Additionally, a decrease in general chocolate consumption was brought on by financial difficulties and economic uncertainty for certain customers. The premium chocolate business is anticipated to bounce back and keep expanding as things get better and the restrictions are eliminated.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Type, By Product Type, By Inclusion, By Nature, By Category, By Cocoa Content, By Flavor, By Packaging, By Distribution Channel
|
| Regions covered | U.S., Canada, Mexico
|
| Companies Covered | Arcor, Barry Callebaut, Cargill, Incorporated., Chocoladefabriken Lindt & Sprüngli AG, Cloetta AB, Ferrero, General Mills, Inc., Meiji Holdings Co., Ltd., Mondelēz International, MORINAGA & CO., LTD, Nestlé, ORION CORP., THE HERSHEY COMPANY, The Kraft Heinz Company, others
|
Key Target Audience:
- Chocolate Enthusiasts
- Connoisseurs and Foodies
- Gift Shoppers
- Gourmet Food Lovers
- Health-conscious Consumers
- Online Shoppers
- Specialty Stores and Chocolatiers
- Others
North America Premium Chocolate Market Segmentation:
1. By Type:
- North America Premium Chocolate Market Value Share and Forecast, By Type, 2023-2033
- Dark Chocolate
- Milk Chocolate
- White Chocolate
2. By Product Type
- North America Premium Chocolate Market Value Share and Forecast, By Product Type, 2023-2033
- Filled
- Regular/Plain
3. By Inclusion:
- North America Premium Chocolate Market Value Share and Forecast, By Inclusion, 2023-2033
- No Inclusions Chocolate
- With Inclusion Chocolates And Regular
4. By Nature:
- North America Premium Chocolate Market Value Share and Forecast, By Nature, 2023-2033
- Conventional
- Organic
5. By Region:
Key Topics Covered in the Report:
- North America Premium Chocolate Market Size (FY’2023-FY’2033)
- Outline of North America Premium Chocolate Market
- Segmentation of North America Premium Chocolate Market By Type (Dark Chocolate, Milk Chocolate, White Chocolate)
- Segmentation of North America Premium Chocolate Market By Product Type (Filled, Regular/Plain)
- Segmentation of North America Premium Chocolate Market By Inclusion (No Inclusions Chocolate, With Inclusion Chocolates And Regular)
- Segmentation of North America Premium Chocolate Market By Nature (Conventional, Organic)
- Segmentation of North America Premium Chocolate Market By Category (Standard Premium, Super Premium)
- Segmentation of North America Premium Chocolate Market By Cocoa Content (50-60%, 71-80%, 61-70%, 81-90%, 91-100%)
- Segmentation of North America Premium Chocolate Market By Flavor (Classic/Regular, Flavor)
- Segmentation of North America Premium Chocolate Market By Packaging (Board Box, Gift Boxes/Assorted, Plastic Wrap, Pouches, Sachets, Others)
- Segmentation of North America Premium Chocolate Market By Distribution Channel (Non-Store Retailers, Store Based Retailer)
- Statistical View of North America Premium Chocolate Market
- Analysis of Growth of North America Premium Chocolate Market
- Obstacles and Challenges in North America Premium Chocolate Market
- Competitive Overview in the North America Premium Chocolate Market
- Impact of COVID-19 and Demonetization on North America Premium Chocolate Market
- Details on New Investment in North America Premium Chocolate Market
- Competitive Analysis of North America Premium Chocolate Market
- Key Market Players in the North America Premium Chocolate Market
- SWOT Analysis of North America Premium Chocolate Market
- North America Premium Chocolate Market Future Projections and Outlook (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the North America Premium Chocolate Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Premium Chocolate Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Premium Chocolate Market
7. North America Premium Chocolate Market, By Type (USD Million)
7.1. North America Premium Chocolate Market Value Share and Forecast, By Type, 2023-2033
7.2. Dark Chocolate
7.3. Milk Chocolate
7.4. White Chocolate
8. North America Premium Chocolate Market, By Product Type (USD Million)
8.1. North America Premium Chocolate Market Value Share and Forecast, By Product Type, 2023-2033
8.2. Filled
8.3. Regular/Plain
9. North America Premium Chocolate Market, By Inclusion (USD Million)
9.1. North America Premium Chocolate Market Value Share and Forecast, By Inclusion, 2023-2033
9.2. No Inclusions Chocolate
9.3. With Inclusion Chocolates And Regular
10. North America Premium Chocolate Market, By Nature (USD Million)
10.1. North America Premium Chocolate Market Value Share and Forecast, By Nature, 2023-2033
10.2. Conventional
10.3. Organic
11. North America Premium Chocolate Market, By Category (USD Million)
11.1. North America Premium Chocolate Market Value Share and Forecast, By Category, 2023-2033
11.2. Standard Premium
11.3. Super Premium
12. North America Premium Chocolate Market, By Cocoa Content (USD Million)
12.1. North America Premium Chocolate Market Value Share and Forecast, By Cocoa Content, 2023-2033
12.2. 50-60%
12.3. 71-80%
12.4. 61-70%
12.5. 81-90%
12.6. 91-100%
13. North America Premium Chocolate Market, By Flavor (USD Million)
13.1. North America Premium Chocolate Market Value Share and Forecast, By Flavor, 2023-2033
13.2. Classic/Regular
13.3. Flavor
14. North America Premium Chocolate Market, By Packaging (USD Million)
14.1. North America Premium Chocolate Market Value Share and Forecast, By Packaging, 2023-2033
14.2. Board Box
14.3. Gift Boxes/Assorted
14.4. Plastic Wrap
14.5. Pouches
14.6. Sachets
14.7. Others
15. North America Premium Chocolate Market, By Distribution Channel (USD Million)
15.1. North America Premium Chocolate Market Value Share and Forecast, By Distribution Channel, 2023-2033
15.2. Non-Store Retailers
15.3. Store Based Retailer
16. North America Premium Chocolate Market Forecast, 2019-2033 (USD Million)
16.1. North America Premium Chocolate Market Size and Market Share
17. North America Premium Chocolate Market, By Type, 2019-2033 (USD Million)
17.1. North America Premium Chocolate Market Size and Market Share By Type (2019-2026)
17.2. North America Premium Chocolate Market Size and Market Share By Type (2027-2033)
18. North America Premium Chocolate Market, By Product Type, 2019-2033 (USD Million)
18.1. North America Premium Chocolate Market Size and Market Share By Product Type (2019-2026)
18.2. North America Premium Chocolate Market Size and Market Share By Product Type (2027-2033)
19. North America Premium Chocolate Market, By Inclusion, 2019-2033 (USD Million)
19.1. North America Premium Chocolate Market Size and Market Share By Inclusion (2019-2026)
19.2. North America Premium Chocolate Market Size and Market Share By Inclusion (2027-2033)
20. North America Premium Chocolate Market, By Nature, 2019-2033 (USD Million)
20.1. North America Premium Chocolate Market Size and Market Share By Nature (2019-2026)
20.2. North America Premium Chocolate Market Size and Market Share By Nature (2027-2033)
21. North America Premium Chocolate Market, By Category, 2019-2033 (USD Million)
21.1. North America Premium Chocolate Market Size and Market Share By Category (2019-2026)
21.2. North America Premium Chocolate Market Size and Market Share By Category (2027-2033)
22. North America Premium Chocolate Market, By Cocoa Content, 2019-2033 (USD Million)
22.1. North America Premium Chocolate Market Size and Market Share By Cocoa Content (2019-2026)
22.2. North America Premium Chocolate Market Size and Market Share By Cocoa Content (2027-2033)
23. North America Premium Chocolate Market, By Flavor, 2019-2033 (USD Million)
23.1. North America Premium Chocolate Market Size and Market Share By Flavor (2019-2026)
23.2. North America Premium Chocolate Market Size and Market Share By Flavor (2027-2033)
24. North America Premium Chocolate Market, By Packaging, 2019-2033 (USD Million)
24.1. North America Premium Chocolate Market Size and Market Share By Packaging (2019-2026)
24.2. North America Premium Chocolate Market Size and Market Share By Packaging (2027-2033)
25. North America Premium Chocolate Market, By Distribution Channel, 2019-2033 (USD Million)
25.1. North America Premium Chocolate Market Size and Market Share By Distribution Channel (2019-2026)
25.2. North America Premium Chocolate Market Size and Market Share By Distribution Channel (2027-2033)
26. North America Premium Chocolate Market, By Region, 2019-2033 (USD Million)
26.1. North America Premium Chocolate Market Size and Market Share By Region (2019-2026)
26.2. North America Premium Chocolate Market Size and Market Share By Region (2027-2033)
26.3. Canada
26.4. Mexico
26.5. U.S.
27. Company Profile
27.1. Arcor
27.1.1. Company details
27.1.2. Financial outlook
27.1.3. Product summary
27.1.4. Recent developments
27.2. Barry Callebaut
27.2.1. Company details
27.2.2. Financial outlook
27.2.3. Product summary
27.2.4. Recent developments
27.3. Cargill, Incorporated
27.3.1. Company details
27.3.2. Financial outlook
27.3.3. Product summary
27.3.4. Recent developments
27.4. Chocoladefabriken Lindt & Sprüngli AG
27.4.1. Company details
27.4.2. Financial outlook
27.4.3. Product summary
27.4.4. Recent developments
27.5. Cloetta AB
27.5.1. Company details
27.5.2. Financial outlook
27.5.3. Product summary
27.5.4. Recent developments
27.6. Ferrero
27.6.1. Company details
27.6.2. Financial outlook
27.6.3. Product summary
27.6.4. Recent developments
27.7. General Mills, Inc.
27.7.1. Company details
27.7.2. Financial outlook
27.7.3. Product summary
27.7.4. Recent developments
27.8. Meiji Holdings Co., Ltd.
27.8.1. Company details
27.8.2. Financial outlook
27.8.3. Product summary
27.8.4. Recent developments
27.9. Mondelēz International
27.9.1. Company details
27.9.2. Financial outlook
27.9.3. Product summary
27.9.4. Recent developments
27.10. MORINAGA & CO., LTD
27.10.1. Company details
27.10.2. Financial outlook
27.10.3. Product summary
27.10.4. Recent developments
27.11. Nestlé
27.11.1. Company details
27.11.2. Financial outlook
27.11.3. Product summary
27.11.4. Recent developments
27.12. ORION CORP
27.12.1. Company details
27.12.2. Financial outlook
27.12.3. Product summary
27.12.4. Recent developments
27.13. THE HERSHEY COMPANY
27.13.1. Company details
27.13.2. Financial outlook
27.13.3. Product summary
27.13.4. Recent developments
27.14. The Kraft Heinz Company
27.14.1. Company details
27.14.2. Financial outlook
27.14.3. Product summary
27.14.4. Recent developments
27.15. Others
28. List of Abbreviations
29. Reference Links
30. Conclusion
31. Research Scope