North America Premium Chocolate Market Growth, Size, Trends, Revenue, Price and Competition
North America Premium Chocolate Market Size- By Type, By Product Type, By Inclusion, By Nature, By Category, By Cocoa Content, By Flavor, By Packaging, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2033
| Published: Jun-2023 | Report ID: FOOD2359 | Pages: 1 - 158 | Formats*: |
| Category : Food & Beverages | |||
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:
- Canada
- Mexico
- U.S.
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 report1.2. Market segment analysis
2. Research Methodology
2.1. Research data source2.1.1. Secondary Data2.1.2. Primary Data2.1.3. SPER’s internal database2.1.4. Premium insight from KOL’s2.2. Market size estimation2.2.1. Top-down and Bottom-up approach2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis4.1.1. Drivers4.1.2. Restraints4.1.3. Opportunities4.1.4. Challenges4.2. COVID-19 Impacts of the North America Premium Chocolate Market
5. Market variable and outlook
5.1. SWOT Analysis5.1.1. Strengths5.1.2. Weaknesses5.1.3. Opportunities5.1.4. Threats5.2. PESTEL Analysis5.2.1. Political Landscape5.2.2. Economic Landscape5.2.3. Social Landscape5.2.4. Technological Landscape5.2.5. Environmental Landscape5.2.6. Legal Landscape5.3. PORTER’s Five Forces5.3.1. Bargaining power of suppliers5.3.2. Bargaining power of buyers5.3.3. Threat of Substitute5.3.4. Threat of new entrant5.3.5. Competitive rivalry5.4. Heat Map Analysis
6. Competitive Landscape
6.1. North America Premium Chocolate Market Manufacturing Base Distribution, Sales Area, Product Type6.2. 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, 2023-20337.2. Dark Chocolate7.3. Milk Chocolate7.4. 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, 2023-20338.2. Filled8.3. 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, 2023-20339.2. No Inclusions Chocolate9.3. 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, 2023-203310.2. Conventional10.3. Organic
11. North America Premium Chocolate Market, By Category (USD Million)
11.1. North America Premium Chocolate Market Value Share and Forecast, By Category, 2023-203311.2. Standard Premium11.3. 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, 2023-203312.2. 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, 2023-203313.2. Classic/Regular13.3. Flavor
14. North America Premium Chocolate Market, By Packaging (USD Million)
14.1. North America Premium Chocolate Market Value Share and Forecast, By Packaging, 2023-203314.2. Board Box14.3. Gift Boxes/Assorted14.4. Plastic Wrap14.5. Pouches14.6. Sachets14.7. 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, 2023-203315.2. Non-Store Retailers15.3. 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. Canada26.4. Mexico26.5. U.S.
27. Company Profile
27.1. Arcor27.1.1. Company details27.1.2. Financial outlook27.1.3. Product summary27.1.4. Recent developments27.2. Barry Callebaut27.2.1. Company details27.2.2. Financial outlook27.2.3. Product summary27.2.4. Recent developments27.3. Cargill, Incorporated27.3.1. Company details27.3.2. Financial outlook27.3.3. Product summary27.3.4. Recent developments27.4. Chocoladefabriken Lindt & Sprüngli AG27.4.1. Company details27.4.2. Financial outlook27.4.3. Product summary27.4.4. Recent developments27.5. Cloetta AB27.5.1. Company details27.5.2. Financial outlook27.5.3. Product summary27.5.4. Recent developments27.6. Ferrero27.6.1. Company details27.6.2. Financial outlook27.6.3. Product summary27.6.4. Recent developments27.7. General Mills, Inc.27.7.1. Company details27.7.2. Financial outlook27.7.3. Product summary27.7.4. Recent developments27.8. Meiji Holdings Co., Ltd.27.8.1. Company details27.8.2. Financial outlook27.8.3. Product summary27.8.4. Recent developments27.9. Mondelēz International27.9.1. Company details27.9.2. Financial outlook27.9.3. Product summary27.9.4. Recent developments27.10. MORINAGA & CO., LTD27.10.1. Company details27.10.2. Financial outlook27.10.3. Product summary27.10.4. Recent developments27.11. Nestlé27.11.1. Company details27.11.2. Financial outlook27.11.3. Product summary27.11.4. Recent developments27.12. ORION CORP27.12.1. Company details27.12.2. Financial outlook27.12.3. Product summary27.12.4. Recent developments27.13. THE HERSHEY COMPANY27.13.1. Company details27.13.2. Financial outlook27.13.3. Product summary27.13.4. Recent developments27.14. The Kraft Heinz Company27.14.1. Company details27.14.2. Financial outlook27.14.3. Product summary27.14.4. Recent developments27.15. Others
28. List of Abbreviations
29. Reference Links
30. Conclusion
31. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Premium Chocolate Market is projected to reach USD 131.52 billion by 2033, growing at a CAGR of 4.31% during the forecast period.
North America Premium Chocolate Market grew in market size from 2023. The Market is expected to reach USD 131.52 billion by 2033, at a CAGR of 4.31% during the forecast period.
North America Premium Chocolate Market CAGR of 4.31% during the forecast period.
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North America Premium Chocolate Market size is USD 131.52 billion from 2023 to 2033.
North America Premium Chocolate Market Segment is Covered By Type, By Product Type, By Inclusion, By Nature, By Category, By Cocoa Content, By Flavor, By Packaging, By Distribution Channel
The North America region is anticipated to have the highest market share in North America Premium Chocolate Market.
The key players in the market include 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
The premium chocolate market in North America is expanding significantly as a result of numerous important factors.
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