North American Industrial Chocolate Market Expected to Reach USD 42.56 billion by 2030

Market Research Future report On the Global North American Industrial Chocolate Market The North American industrial chocolate market Insights offered by the MRFR research reports suggest that the North American industrial chocolate market is one of the rapidly expanding markets across the world and is set to reach USD 42.56 billion by the end of 2030. The North American industrial chocolate market data included in the reports state that the market is set to be growing at a CAGR of around 5.45% over the evaluation era from 2023-2030, as per the latest research report released by Market Research Future (MRFR). The key factors driving the growth of the North American industrial chocolate market  stats include the growing demand for specialty products, storage technologies, expanding consumer base, and technological advancements in the food industry. Companies such as The Hershey Company, Nestle USA Inc., Barry Callebaut AG, and Mars, Inc. are actively involved in market penetration and product innovation.

Market Overview

Industrial chocolate is a type of processed chocolate used as an ingredient for confectionery items and other food products. Generally, industrial chocolates are produced in bulk in larger food items such as bakery, confectionery, dairy products, and chocolate-fortified snacks. Industrial chocolates are available in various types, such as compound, dark, white, and cocoa liquor. Industrial chocolates are highly used in bakery applications as well as branded products. The major end-users of industrial chocolate comprise bakery, retail, and industrial suppliers.Market Segmentation

The North American industrial chocolate market is fragmented based on product type, region, application, and end-user.

By product, the North American industrial chocolate market is segmented into compound chocolates, dark chocolate, white chocolate, and cocoa liquor.

By end-user, the North American industrial chocolate market is segmented into bakery, confectionery, dairy, and others.

By application, the North American industrial chocolate market is segmented into icings & glazes, fillings, and flavoring.

Regional Analysis

Based on region, the North American industrial chocolate market is segmented into three major regions: the US, Canada, and Mexico.

According to the statistics provided by the research reports, the US dominated the North American industrial chocolate market  trends in 2016, accounting for 21.8% of the North American industrial chocolate market share, and is predicted to maintain its top rank over the evaluation era. The growing trend of gifting chocolates is the main parameter supporting regional market development.

North America is the second-largest producer of chocolate after Europe and ranks second in the world for consuming chocolates, creating great potential for the industrial chocolate market.

Factors such as product innovation, product launches, and mergers & acquisitions adopted by top players and private label companies are projected to support US North American industrial chocolate market growth. The retail and food service segments are expected to be major sources of revenue growth in the coming years.

Canada is the second-largest North American industrial chocolate market, accounting for a 10.3% share of the total market in 2016.

Mexico dominates the market in Latin America, with a 25.9% share in 2016, and is projected to grow at a significant CAGR.

Market Numbers

The North American industrial chocolate market was worth around USD 2.43 billion in the year 2023 and is projected to attain a size of approximately USD 42.56 billion by the end of 2030, thriving at a robust CAGR of about 5.45% from 2022-2030.

Industry Outlook

Growing retail outlets and the surge in disposable income, and changing consumer preferences are expected to drive the growth of the North American industrial chocolate market. Introducing new chocolate products such as cocoa-coated cookies, flavored ganache, dairy-free chocolates, and dark chocolate are expected to boost demand for industrial chocolate in the North American market.

The focus of chocolate manufacturers on innovation to cater to customer preferences, customized offerings, and target customer segments is encouraging more people to consume chocolates and related products in the region.

Key Players

The key players in the North American industrial chocolate market include The Hershey Company (US), Nestle USA Inc. (US), Olam International Pte. Ltd. (Singapore), Barry Callebaut AG (Switzerland), Mars, Inc. (US), Puratos Holding (Belgium), Mondelez International Inc. (US), Grupo S - Tampico (Mexico), ADM Workholding Solutions LLC (US), Valrhona (France), and Callebaut (Belgium).

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