The North America Confectionery Market 2018-2023: Segmented by Product Type, Distribution Channel and Geography - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 1, 2018--The “North America Confectionery Market - Segmented by Product Type, Distribution Channel and Geography - Growth, Trends, and Forecast (2018 - 2023)” report has been added to ResearchAndMarkets.com’s offering.
The North America confectionery market is expected to reach USD 58 billion by 2023, witnessing a stable CAGR of 3.3%, during the forecast period. Confectionery consumption volume in the region surpassed 3,132 million Kg in 2017, moving at steady volume growth rate.
Chocolate dominates the market owing to increased cocoa product consumption. US is the largest market accounting for more than 75% of the confectionery volume share. Increased demand for higher quality cocoa products and premium chocolate accelerated confectionery sale in North America.
Organic in High Demand
Consumer interests in organic chocolate are growing in North America. However, organic chocolate represents a very small share in the market at present. The US remains the most significant market with organic confectionery sale. Consumer awareness about the sourcing of raw material that is organic is the primary driver for the market.
The global organic chocolate market valued at USD 732 million in 2012, which reordered a steady growth rate. About 15% of US chocolate buyer purchase organic chocolate despite its premium price. Chocolates launch with organic claim increased 6% during 2014-2016. Clean label claim products such as all-natural, preservative-free are further driving the chocolate market in the region.
Chocolate Craving Dominates
North American chocolate confectionery volume surpassed 1,604 million Kg in 2017 with moulded chocolate leading the segment. Moulded chocolate holds 33% of the chocolate volume share, which is followed by Countlines and softlines. Countlines is the most consumed chocolates in the region, which is growing at a steady rate of 3%.
The demand for countline sales crossed USD 8,067 million in 2017; driven by on-the-go and convenient pack style of products. Boxed assortments sale is growing in the region owing to seasonal chocolate gifting trend demand for premium chocolate and attractive packaging. However, the government regulation regarding sugar tax and promotion activity for sharing bags are the major restraints affecting confectionery market growth.
Key DevelopmentsApril 2018 - Nestle planning to launch Ruby Chocolate in America, which is the first new natural color chocolate after white chocolate introduced by Nestle 80 years back. This chocolate is made from ruby/pink cocoa bean
Key Topics Covered
2. Research Approach and Methodology
3. Market Overview
4. Market Segmentation
5. Competitive Landscape
6. List of Company Profiles
7. Companies CoveredMondelez international Inc Mars Inc. Nestle SA Ferrero Group Meiji Co. Ltd Hershey Co Lotte Confectionery Co. Ltd Grupo Bimbo S.A.B. de C.V. Lotte Group Clif Bar & Company QuestNutrition LLC Wm. Wrigley Jr. Company
For more information about this report visit https://www.researchandmarkets.com/research/74brv3/the_north_america?w=4
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Related Topics:Snacks and Confectionery
KEYWORD: NORTH AMERICA
INDUSTRY KEYWORD: RETAIL FOOD/BEVERAGE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/01/2018 02:51 PM/DISC: 08/01/2018 02:51 PM