Market Size of canada chocolate Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 3.65 Billion |
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Market Size (2030) | USD 5.24 Billion |
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Largest Share by Distribution Channel | Supermarket/Hypermarket |
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CAGR (2024 - 2030) | 6.23 % |
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Fastest Growing by Distribution Channel | Online Retail Store |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Canada Chocolate Market Analysis
The Canada Chocolate Market size is estimated at 3.65 billion USD in 2024, and is expected to reach 5.24 billion USD by 2030, growing at a CAGR of 6.23% during the forecast period (2024-2030).
3.65 Billion
Market Size in 2024 (USD)
5.24 Billion
Market Size in 2030 (USD)
6.19 %
CAGR (2018-2023)
6.23 %
CAGR (2024-2030)
Largest Segment by Confectionery Variant
70.49 %
value share, Milk and White Chocolate, 2023
The innovative unique flavor offerings, and premiumization associated white chocolate, along with varied taste profiles in the region, are anticipated to drive segment growth.
Largest Segment by Distribution Channel
46.65 %
value share, Supermarket/Hypermarket, 2023
The growth of supermarkets in the region is largely driven by the existence of an inviting place for customers to shop, as they are constantly drawn to make large purchases.
Fastest-growing Segment by Confectionery variant
6.76 %
Projected CAGR, Dark Chocolate, 2024-2030
Rising awareness among consumers about dark chocolate's nutritional content, premiumization and stress-relieving ability is anticipated to drive the demand in the region.
Fastest-growing Segment by Distribution Channel
7.07 %
Projected CAGR, Online Retail Store, 2024-2030
The increased adoption of e-commerce platforms among consumers and the growing presence of online retailers are anticipated to drive the segment during the forecast period.
Leading Market Player
13.55 %
market share, The Hershey Company, 2022
Product diversity in terms of innovative chocolate products for a wide range of consumers in the region is allowing The Hershey Company to occupy a market share.
Supermarkets and hypermarkets account for more than 40% of the market share as consumers prefer these channels for a quick and easy shopping experience
- Supermarkets have become one of the most popular places to shop for various chocolates, including milk and dark chocolate. Shopping at a supermarket is typically a quicker and easier experience than shopping at a smaller store. Supermarkets have larger spaces, making it easy for consumers to find chocolates in various sizes. Supermarkets and hypermarkets are considered the primary sales channels for chocolates in Canada. The sales value of chocolates in supermarkets and hypermarkets increased by 5.8% in 2023 from 2022.
- Other distribution channels are the second-largest retail segment in chocolate sales in Canada. Specialty stores, warehouse clubs, drug stores/pharmacies, vending machines, direct selling, and forecourt retailers make up the other distribution channels. These retail channels registered a growth rate of 13.2% from 2021 to 2023. The sales are primarily driven by the ease of access and all-day availability of the outlets.
- Convenience stores are considered one of the country's major sales channels for chocolates. Convenience stores are known for ease of access; most are open 24 hours a day and 7 days a week across the country. This increases the sales of chocolates till the last minute of purchase on a certain day. The sales value of chocolates in convenience stores is anticipated to grow by 28.7% by 2026 from 2022.
- Online retail channels are expected to grow at the highest rate in the forecast period due to factors such as convenience, discounted rates, one-day delivery options, and others. The sales value of chocolates through online retail channels is expected to record a CAGR of 7.13% from 2023 to 2029.
Understand The Key Trends Shaping This Market
