Market Size of us chocolate Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 27.07 Billion |
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Market Size (2030) | USD 36.72 Billion |
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Largest Share by Distribution Channel | Supermarket/Hypermarket |
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CAGR (2024 - 2030) | 5.22 % |
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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 |
US Chocolate Market Analysis
The US Chocolate Market size is estimated at 27.07 billion USD in 2024, and is expected to reach 36.72 billion USD by 2030, growing at a CAGR of 5.22% during the forecast period (2024-2030).
27.07 Billion
Market Size in 2024 (USD)
36.72 Billion
Market Size in 2030 (USD)
5.36 %
CAGR (2018-2023)
5.22 %
CAGR (2024-2030)
Largest Segment by Confectionery Variant
57.39 %
value share, Milk and White Chocolate, 2023
The innovative flavor offerings possible in white chocolate, along with versatility, appeal and varied taste profiles in the region, are anticipated to drive segmental growth.
Largest Segment by Distribution Channel
46.55 %
value share, Supermarket/Hypermarket, 2023
Consumers are increasingly purchasing from supermarkets and hypermarkets due to availability of offerings and expanding shelf space for innovative chocolate products.
Fastest-growing Segment by Confectionery variant
6.06 %
Projected CAGR, Dark Chocolate, 2024-2030
Rising health awareness among consumers about dark chocolate's nutritional content, flavor profile and stress-relieving ability is expected to drive the demand in the region.
Fastest-growing Segment by Distribution Channel
6.12 %
Projected CAGR, Online Retail Store, 2024-2030
The freedom to browse digital catalogs without any hurry in a priceless manner, with quick deliveries to the right place, has become the major factor driving the segment.
Leading Market Player
28.72 %
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, warehouse clubs, and specialty stores continue to captivate a larger consumer base in the segment
- Compared to other retail channels, supermarkets and hypermarkets constituted the primary sales channel for chocolate sales in the United States. In 2022, these retail channels accounted for the majority of shares, registering a CAGR of 4.98% during the forecast period of 2023-2030. These retail channels have a strong position due to the wide selection of brands offered, considerable shelf space, and frequent price promotions.
- Other distribution channels are the second most widely preferred retail channels for the sales of chocolate. Specialty stores, warehouse clubs, drug stores/pharmacies, vending machines, direct selling, and forecourt retailers cover the sales of chocolates in other distribution channels. The sales value of chocolates through these retail channels registered a growth rate of 11.1% from 2021 to 2023. Other distribution channels, such as warehouse clubs and specialty stores, play a major in the sales of chocolate. They offer a wide range of chocolates in different flavors at low prices. As of 2023, Costco topped the place with more than 587 warehouse clubs across the United States.
- The online channel has become one of the fastest-growing retail sales channels for chocolate sales in the United States. With ease and convenience of buying, e-commerce is widely being adopted by consumers. It is also convenient for manufacturing companies to advertise their products through various offers and promotional activities that benefit both the companies and consumers. This is further expected to boost the online sales of chocolates in the forecast period. The sales value of the chocolates through online retail channels is anticipated to register a CAGR of 6.12% during 2023-2029.
Understand The Key Trends Shaping This Market
