United States Chocolate Market Growth Opportunities and Outlook 2019 to 2024

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Nov 08, 2019 (Market Insight Reports via COMTEX) — United States Chocolate market has been thoroughly scrutinized and then carefully demarcated by geographic locations which are based on major economic regions and their topographical regions. Growing competition and the changing market dynamics has been highlighted. Aggressive market players are profiled with attributes of company overview, financial overview, business strategies, product portfolio and recent developments. The Market share and Market size prominent players for 2019 to 2024 are profiled in this report.

The United States Chocolate market is expected to cross 1,553 million Kg in volume consumption by 2023, witnessing a steady CAGR over the forecast period. Countlines dominates the value sales which is followed by softlines.

The United States Chocolate market is highly competitive and consists of a number of major players: NESTLE SA, MARS INCORPORATED, LINDT & SPRNGLI AG., MONDELEZ INTERNATIONAL, INC , FERRERO LTD., HERSHEY CO and others

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Scope of the Report

Increased demand for premium chocolate brands and organic chocolate is the key factor driving chocolate market. Innovation in product packaging and impulse purchase are further accelerating the market. Health concern related to high sugar content and fluctuating commodity prices are affecting the market growth.

Key Market Trends

Organic in High Demand

Consumer interests in organic chocolate are growing in the United States. However, organic chocolate represents a very small share in the market at present. 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 United States chocolate buyer purchase organic chocolate despite its premium price. Chocolates launch with natural 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.

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Countlines Dominates the Market

Countlines chocolate holds 43% of the chocolate volume share which is followed by Softlines/Selflines. Countlines is the most consumed chocolates in the United States, which are growing at a steady rate of 3.3%. The demand for countline sales is mostly driven by on-the-go and convenient pack style of products. Boxed assortments sale is increasing 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 a significant restraint affecting confectionery market growth.

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What are the market factors that are explained in the report?

-Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.

-Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.

-Analytical Tools: United States Chocolate Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.

The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.

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