The Hershey Company was the leading chocolate manufacturer in the United States in 2022 in terms of market share. The company held approximately 35.5 percent of the total market, with only Mars as a significant competitor for market leader. In terms of the total confectionery market, Mars has Hershey beat for largest market share, but only barely edged out their competitor by about 0.4 percent. Hershey’s history The Hershey Company was founded in 1894 by Milton Hershey and is headquartered in Hershey, Pennsylvania. The town itself was largely built by Milton Hershey, and many places in the town bear the Hershey name, including Hershey’s Chocolate World and Hersheypark. Hershey’s Chocolatetown at Hersheypark was one of the largest construction projects in the United States as of January 2019, with a cost of 150 million dollars. Hershey’s popularity Hershey’s generous market share in the United States is due to the confectionery company’s popularity across brands. In a 2018 survey, three of the top four most popular chocolate brands among consumers were sold by Hershey. When it comes to Halloween candy, the company’s Reese’s Peanut Butter Cups were the prized chocolate among trick-or-treaters of all ages.

The revenue in the 'Chocolate Confectionery' segment of the food market in the United States was modeled to stand at ************* U.S. dollars in 2024. Following a continuous upward trend, the revenue has risen by ************ U.S. dollars since 2018. Between 2024 and 2030, the revenue will rise by ************ U.S. dollars, continuing its consistent upward trajectory.Further information about the methodology, more market segments, and metrics can be found on the dedicated Market Insights page on Chocolate Confectionery.

The North America Chocolate Market Report is Segmented by Product Type (Dark Chocolate, Milk and White Chocolate), Form (Tablets and Bars, Molded Blocks, and More), Price Range (Mass, Premium), Ingredient Type (Dairy-Based, Plant-Based, Single-Origin), Distribution Channel (Supermarkets/Hypermarkets, and More), and Geography (United States, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume(Tons).

The North American Premium Chocolate Market is Segmented by Product Type (Dark Premium Chocolate and White and Milk Premium Chocolate), Distribution Channel (Hypermarkets/Supermarkets, Convenience Stores, Online Stores, and Other Distribution Channels), and Geography (United States, Mexico, Canada, and Rest of North America). The report provides market sizes and forecasts in terms of value in USD million for all the above segments.

The Chocolate Market report segments the industry into Confectionery Variant (Dark Chocolate, Milk and White Chocolate), Distribution Channel (Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others), and Region (Africa, Asia-Pacific, Europe, Middle East, North America, South America). Five years of historical data and five-year forecasts are provided.

When it comes to the most widely consumed chocolate brands in the U.S., Hershey’s claims the pole position. The Pennsylvania-based brand is consumed by 51 percent of internet respondents who recognized it, followed by M&M's with a consumption rating of 47 percent. For this study, brand awareness was surveyed employing the concept of aided brand recognition, showing respondents both the brand's logo and the written brand name. Only respondents who recognized a brand were asked if they consumed the product.

The market for chocolate products in the U.S. Retail sales of chocolate confectionery in the U.S. amount to a total of almost 25 billion U.S. dollars. The chocolate confectionery category with the highest sales is countlines, which refers to chocolate bars eaten as snacks. Such products generate more than 8.1 billion U.S. dollars annually. Nearly 615 million kilograms of chocolate and chocolate-containing products are imported into the U.S. each year. Canada is the country from which the U.S. imports the majority of its chocolate products, as more than half of the U.S.’ total chocolate product imports come from its North American neighbor. Nonetheless, American companies are also major producers of chocolate-containing products. The leading chocolate producer in terms of sales in the U.S. is the Hershey Company. The Pennsylvania-based multinational confectionery company sells approximately 2.84 billion U.S. dollars’ worth of chocolate products annually.

The Hershey Company

Founded by Milton Hershey in 1894, the Hershey Company has become one of the largest manufacturers of chocolate in North America. Hershey employs 20,505 full-time workers. The revenue of the Hershey Company has been on a steady incline since 2006. The global revenue of Hershey amounts to about 11.17 billion U.S. dollars. The Hershey Company’s brands, Hershey’s and Reese's, are among the leading chocolate and candy bar brands ranked by brand awareness in the U.S. Around 93 percent of consumers are aware of these two brands. The Nestlé-owned brand KitKat, as well as the two brands Snickers and Twix, both owned by Mars Inc., also have a brand recognition rate of 93 percent.

The South America Chocolate Market Report is Segmented by Product Type (Dark Chocolate, Milk and White Chocolate), Form (Tablets and Bars, Molded Blocks, and More), Price Range (Mass and Premium), Ingredient Type (Dairy-Based, and More), Distribution Channel (Supermarkets/Hypermarkets, Other Channels, and More), and Country (Brazil, Colombia, and More). The Market Forecasts are Provided in Terms of Value (USD) and Volume (Tons).

The global premium chocolate market size is projected to grow from USD 42.30 billion in 2025 to USD 85.61 billion by 2033, exhibiting a CAGR of 9.2%.
Report Scope:

The U.S. Chocolate report features an extensive regional analysis, identifying market penetration levels across major geographic areas. It highlights regional growth trends and opportunities, allowing businesses to tailor their market entry strategies and maximize growth in specific regions.

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Premium Chocolate Market Size 2024-2028

The Premium Chocolate Market size is forecast to increase by USD 20.8 billion, at a CAGR of 9.48% between 2023 and 2028. Market expansion hinges on various factors, notably the introduction of new products, heightened consumer engagement in the market, and the implementation of marketing strategies. New product launches inject innovation into the market, attracting consumer interest and driving demand for novel offerings. Additionally, increasing market indulgence, characterized by consumer willingness to explore diverse products and experiences, fosters market growth by expanding the consumer base and driving sales volume. The market thrives on exquisite ingredients like high-quality cocoa, gourmet salt, and luxurious packaging, elevating the consumer experience. With additional flavors such as almonds and raspberry pieces, brands like Purdys Chocolatier and Cadbury offer a range of indulgent options. Furthermore, effective marketing strategies play a pivotal role in creating brand awareness, communicating product benefits, and influencing consumer purchasing decisions. By leveraging innovative marketing approaches, businesses can enhance brand visibility, establish a stronger market presence, and capitalize on emerging opportunities for growth. Together, these factors contribute to the dynamic expansion of the market, shaping its trajectory and fostering competitiveness within the industry.

What will be the Size of the Market During the Forecast Period?

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Market Segmentation

Products like Lindor truffles and Guylian exemplify the richness and an upscale appearance, catering to discerning tastes with low sugar. Rising concerns for quality and taste drive product innovation and the creation of limited-edition chocolates, ensuring a premium offering in the chocolate confectionery landscape.

By Distribution Channel

The market share by the offline segment will be significant during the forecast period. Offline sales channels include supermarket, hypermarkets, department stores, convenience stores, distributors, independent retailers, and specialty retailers. Popular supermarkets offering products include SPAR, Walmart, Meijer Inc., The Kroger Co. (Kroger), Carrefour, and Big Bazaar. Supermarkets and hypermarkets offer a wide variety of products from different brands, and consumers can easily select and purchase the desired product from these stores.

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The offline segment was valued at USD 22.70 billion in 2018. Offline distribution channels such as supermarkets and hypermarket chains are focusing on expanding the number of stores around the world. Walmart, for example, has announced plans to open 300 new stores in China by 2024 as part of its global expansion policy. Such expansion of supermarket and hypermarket chains will improve customer access and increase sales of such products, driving the growth of the market during the forecast period.

By Region

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Europe is estimated to contribute 43% to the growth of the market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In 2022, Europe had the highest per capita consumption of chocolate in the world. Consumers tend to prefer premium chocolates as they are popular as gifts for special occasions. Additionally, many chocolate manufacturers, such as Ferrero International SA, have their headquarters in the region. These factors are one of the main reasons why Europe holds the dominant share of the market. In Europe, demand is outpacing sales of private-label chocolate. This is mainly because consumers are willing to pay higher prices for higher quality, better packaging, and richer flavor than other chocolates. The UK, Belgium, Germany, and Switzerland are among the leading markets in Europe. Hence, such factors are driving the market in Europe during the forecast period.

Market Dynamics and Customer Landscape

In the market, consumers savor indulgent treats crafted from the finest ingredients like cocoa butter and premium cocoa, ensuring premium product with superior taste and texture for breakfast cereal like cookie dough. From classic favorites like chocolate bars to unique offerings such as Limited-edition chocolate and White chocolates, brands focuses on gourmet chocolates with premium textured and flavors like Berry Crunch. With meticulous attention to detail, these chocolates promise a luxurious experience that delights the senses and satisfies the most discerning palates. Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine the

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Chocolate Confectionery Market Size 2024-2028

The chocolate confectionery market size is valued to increase USD 31 billion, at a CAGR of 4.36% from 2023 to 2028. Frequent product launches will drive the chocolate confectionery market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 33% growth during the forecast period.
By Product - Chocolate bars segment was valued at USD 50.50 billion in 2022
By Distribution Channel - Offline segment accounted for the largest market revenue share in 2022

Market Size & Forecast

Market Opportunities: USD 45.58 billion
Market Future Opportunities: USD 31.00 billion
CAGR : 4.36%
APAC: Largest market in 2022

Market Summary

The market is a dynamic and ever-evolving industry, characterized by continuous innovation and consumer preferences. Core technologies, such as 3D printing and nanotechnology, are revolutionizing the production process, enabling the creation of unique and intricate chocolate products. Applications, including gifting, impulse buying, and health-conscious options, are driving market growth. Service types, including customization and personalization, are gaining popularity among consumers. Regulations, such as those regarding labeling and ingredients, are shaping the market landscape. According to recent reports, The market is expected to reach a significant market share in the upcoming years, driven by an increase in product launches and packaging innovations. For instance, in 2020, Nestle launched a new line of chocolate bars with recyclable packaging, addressing consumer concerns about sustainability. However, the market also faces challenges, such as an increase in the number of product recalls due to contamination issues. Despite these challenges, opportunities exist for companies to differentiate themselves through product quality, ethical sourcing, and sustainable practices.

What will be the Size of the Chocolate Confectionery Market during the forecast period?

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How is the Chocolate Confectionery Market Segmented and what are the key trends of market segmentation?

The chocolate confectionery industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments. ProductChocolate barsBoxed assortments and seasonal variantsOthersDistribution ChannelOfflineOnlineGeographyNorth AmericaUSEuropeGermanyUKAPACChinaIndiaRest of World (ROW)

By Product Insights

The chocolate bars segment is estimated to witness significant growth during the forecast period.

In the dynamic and evolving the market, chocolate bars continue to dominate with a significant market share of 55.3% in 2023. This trend is expected to persist, as chocolate bars are poised to maintain their leading position with a projected market share of 56.8% by 2028. The chocolate bars segment encompasses countlines and molded bars. Countlines, individually wrapped chocolate-coated bars, and molded bars, small chocolate pieces cut from large chocolate blocks, are popular sub-segments. Major brands such as Snickers, Milky Bar, Milka, Galaxy, 5 Star, Dove, and Cadbury Dairy Milk, contribute significantly to the chocolate bars segment. Innovative chocolate flavors and textures in confectionery products, along with eye-catching packaging, fuel the growth of this category. Quality control metrics, such as sugar crystallization, viscosity control, and chocolate tempering, play a crucial role in maintaining the desired texture and taste in chocolate confectionery products. Ingredient sourcing, sensory evaluation methods, and supply chain management are essential for ensuring consistent product quality. Defect detection systems, waste reduction strategies, and rheological properties are key considerations in chocolate confectionery production. Ingredient interactions, ingredient preservation, and ingredient functionality are essential for optimizing product formulation and ensuring product stability. Storage conditions, texture analysis, texture modification, process optimization, and moulding techniques are critical aspects of chocolate confectionery manufacturing. Energy efficiency improvements, aroma retention, and enrobing techniques are ongoing trends in the industry. Microbial contamination control, flavor profiling, and mass production techniques are essential for maintaining product safety and efficiency. Color stability, cocoa bean processing, and flavor compound interactions are crucial factors in creating high-quality chocolate confectionery products. The market is a continuously evolving industry, with ongoing research and development in areas such as automation systems, quality assurance protocols, and packaging technologies. The

In 2024, the chocolate confectionery market generated a revenue of approximately ***** billion U.S. dollars worldwide. According to estimates of the Statista Digital Market Outlook, the generated revenue in this market is expected to increase in the coming years, reaching a value of ***** billion dollars in 2029. Chocolate shopping in Canada In 2020, almost ** percent of Canadians stated they bought chocolate a few times a month, making it the most common purchasing rate among Canadian consumers. It is rare for people in Canada to buy chocolate every single day. For over half of consumers within the country, monthly chocolate spending would typically amount to anywhere between *** and ** Canadian dollars. Chocolate brands in North America In the same year, Canada’s favorite brand of chocolate was Lindt, a Swiss confectionery brand. Other favorites included Cadbury, Hershey’s, and Ferrero. Consumers in the United States favored Hershey's about twice as often as Lindt. Approximately ** percent of U.S. respondents who knew Hershey's consumed the brand's products.

The North America chocolate market size was valued at USD 31.17 Billion in 2024. The market is further projected to grow at a CAGR of 4.50% between 2025 and 2034, reaching a value of USD 48.41 Billion by 2034.

This statistic depicts the market share of the leading non-chocolate companies in the United States in 2018. Mars held a market share of about 18.4 percent of U.S. non-chocolate sales in that year. The Hershey Company and Ferrara were the two key competitors in the market.

Low-calorie Chocolate Market size is expected to be worth around USD 2.8 Bn by 2033, from USD 1.2 Bn in 2023, growing at a CAGR of 8.8%

The U.S. chocolate market reached $23B in 2024, increasing by 4% against the previous year. The market value increased at an average annual rate of +3.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 9.7% against the previous year. Chocolate consumption peaked in 2024 and is likely to see gradual growth in years to come.

Market Size statistics on the Chocolate Production industry in the US

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Chocolate Market Size 2025-2029

The chocolate market size is forecast to increase by USD 52.7 billion, at a CAGR of 5.1% between 2024 and 2029. Increasing premiumization of chocolates will drive the chocolate market.

Major Market Trends & Insights

North America dominated the market and accounted for a 32% growth during the forecast period.
By Product - Milk chocolate segment was valued at USD 70.70 billion in 2023
By Distribution Channel - Offline segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 44.26 billion
Market Future Opportunities: USD 52.70 billion 
CAGR : 5.1%
North America: Largest market in 2023

Market Summary

The market is a dynamic and evolving industry, marked by continuous innovation and shifting consumer preferences. Premiumization of chocolates, driven by the increasing demand for high-quality, artisanal, and ethically sourced products, is a significant trend shaping the market. Simultaneously, advancements in chocolate packaging technology, such as biodegradable and reusable materials, are gaining traction, addressing consumer concerns around sustainability. However, the market faces challenges, including unstable cocoa prices and declining per capita consumption in key markets. According to recent studies, The market accounted for over 30% of the total confectionery market share in 2020.
Looking ahead, the market is expected to remain robust, with opportunities in emerging regions and the continued expansion of e-commerce platforms. For related markets, explore the dynamic world of the Nut Butter Market and the evolving trends in the Confectionery Coatings Market.

What will be the Size of the Chocolate Market during the forecast period?

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How is the Chocolate Market Segmented and what are the key trends of market segmentation?

The chocolate industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Product

  Milk chocolate
  Dark chocolate
  White chocolate


Distribution Channel

  Offline
  Online


Type

  Traditional
  Artificial


Cocao Content

  Low (<30%)
  Medium (30-60%)
  High (>60%)


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Product Insights

The milk chocolate segment is estimated to witness significant growth during the forecast period.

In the dynamic the market, mass production techniques have significantly evolved, enabling the industry to cater to increasing demand. Traceability systems ensure product authenticity and consumer trust, while sensory evaluation methods maintain consistent taste and quality. Shelf life extension is a crucial focus, with quality assurance procedures and rheological properties ensuring optimal texture and preventing fat bloom. Tempering methods, process monitoring systems, and ingredient sourcing are essential components of the chocolate manufacturing process. Waste reduction strategies and sustainable sourcing practices are gaining importance, as is colorimetric analysis for maintaining uniform color. Conching techniques refine the chocolate's flavor, and microbial contamination control is vital for food safety.

Aroma compound profiling and melting point determination contribute to the unique taste experiences consumers expect. Supply chain management and energy efficiency improvements are essential for maintaining profitability and competitiveness. The market's continuous evolution includes product diversification, flavonoid quantification, sugar crystallization, and viscosity measurement. Quality control parameters, packaging optimization, and process optimization strategies ensure product excellence. Cocoa bean fermentation and shear thinning behavior influence the final product's flavor and texture. Flavor compound analysis and polyphenol content are essential for product differentiation and health benefits. According to recent studies, milk chocolate accounts for approximately 60% of the market.

Its popularity is attributed to its smoother and creamier taste. However, the health concerns surrounding milk chocolates have resulted in a decrease in demand, with sales projected to account for 57% of the market by 2027. Meanwhile, dark chocolate, with its higher cocoa solids content, is expected to capture a larger market share, growing from 32% to 39% during the same period. Another trend is the increasing focus on antioxidant capacity and product formulation, with chocolate liquo

The Chocolate Stores industry is navigating a transition marked by health-forward reformulations, competitive pressure and shifting consumer indulgence preferences. Revenue in 2025 is forecast to dip by 2.0% to $1.3 billion, reflecting softer traffic amid persistent competition from grocery, online and mass-market confectionery sellers. However, stores have offset volume pressures through premium assortment and production innovation. Functional and plant-based chocolates have moved to the mainstream, supported by younger consumers seeking treats with lower sugar, natural ingredients and added wellness benefits. These offerings, combined with premium packaging and clean-label positioning, have allowed chocolatiers to maintain pricing power and stabilize profit despite supply volatility and heightened external competition. Revenue has grown modestly at a 0.9% CAGR, shaped by strong seasonality and strategic adaptation. The four major holiday peaks around Valentine's Day, Easter, Halloween and winter festivities have remained the core income engine, accounting for 65.0% of total chocolate sales in 2024, according to the National Confectioners Association. Yet, this dependence on seasonal spikes intensified sales volatility, pushing stores to develop micro-seasons and loyalty-driven promotions to sustain engagement. Cocoa prices surged in 2023 and 2024, testing profit, but disciplined sourcing, futures hedging and supplier diversification stabilized cost structures. Specialty stores leaned into craftsmanship, experiences and limited-time collections to differentiate from mass retailers, while the swell of organic, vegan and allergy-friendly assortments safeguarded their niche amid growing awareness of wellness and ethical sourcing. Industry performance in the coming years is modestly optimistic, with revenue projected to expand at a CAGR of 1.8% through 2030, reaching $1.5 billion. Disposable income gains, premiumization and sustainability leadership will underpin recovery and growth. Consumers will continue to trade up for artisanal, ethically sourced and functional chocolates that deliver both taste and transparency. Digital transformation will also redefine market dynamics. While online retailers will pressure independents, it will create new sales avenues for tech-enabled brands and subscription platforms. As sustainability and health remain at the heart of purchasing decisions, chocolate stores that merge ethical production, digital engagement and sensory experience will capture a larger share of an evolving indulgence market.

The North America Aerated Chocolate Market would witness market growth of 10.2% CAGR during the forecast period (2024-2031). The US market dominated the North America Aerated Chocolate Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market valu