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Chocolate Confectionery in the US

United States chocolate confectionery market: $21 billion industry by 2017


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2014-03-12 20:05:01 - Chocolate Confectionery in the US - a new market research report on companiesandmarkets.com

Chocolate confectionery in the US continues to be dominated by two companies. In 2012, The Hershey Co and Mars together account for nearly 70% of overall value sales. Lindt & Sprüngli USA Inc is expected to see the largest increase in value sales in 2012 of 9% to reach US$481 million. This is due primarily to increasing flavour variety and improved distribution to more drug and mass-market channels of its premium chocolate tablets. In addition, Lindt truffles continue to remain popular with consumers.

In 2012, chocolate confectionery is set to grow by 4% in current value terms, a slightly stronger performance than the review period average. This growth largely stems from increasing consumer demand for premium products as well as the

 

 

higher prices introduced by many of the leading manufacturers. These factors have also contributed to an expected 4% decline in volume sales in 2012.

Over 2012-2017, chocolate confectionery is expected to register constant value growth of 9% to reach sales of US$21 billion. Higher prices and smaller pack sizes are expected to drive retail volume sales down by 1% over the forecast period.

The growth of chocolate confectionery will be in line with, if not slightly higher, than that of the review period. With a slightly depressed recovery expected for the US, chocolate will likely continue to maintain its position as an affordable indulgence. In addition, seasonal chocolate has seen a fairly substantial turnaround from previous years and renewed interest in this product type may also prove to be an additional driver of growth that the category did not enjoy previously.

Key Headlines

- Retail current value sales of chocolate confectionery expected to increase by 4% in 2012 to reach US$19.3 billion whilst retail volume sales are set to decline by 4%
- Premium and mass-market chocolate continue to make impressive strides due to packaging and flavour innovation
- A renewed focus by consumers on seasonal spending and indulging sees seasonal chocolate set to become the fastest growing category in 2012 with a current value gain of 6%
- Higher sales of premium chocolate as well as some price increases from major manufacturers see average unit price rise by 8% in 2012
- Mars and The Hershey Co together account for nearly 70% of sales of chocolate confectionery in the US in 2012
- Chocolate confectionery expected to grow by 9% in constant value terms over the forecast period to approach sales of US$21 billion by 2017

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Author:
Mike King
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