As per the market research that has been made, it is found that North American Industrial Chocolate is showing a potential growth at the valuation of USD $42.56 billion with CAGR registered at 5.45%during the forecast timeline which is till 2027.
The market of the North-American industrial chocolate has witnessed quite an innovation in different textures, and flavours like yoghurt and beer which has actually captured the attention of the consumer. The market for the North-American industrial chocolate showed a volume of 472,880 Tons in 2020. Dark chocolate which is also called black chocolate is one chocolate type that consists of a high cocoa amount as compared to the milk solids. Due to this, it is one enhanced, yet rich taste based as compared to milk chocolate. Dark chocolate is also the finest source of flavonoid and is rich in antioxidants which are said to be a potential superfood. There are many products which are manufactured during dark chocolate including candies, baked goods, beverages and bars to name some.
The market in North America is presently being driven by many factors. The increased awareness amongst the consumers of the nutritional based content and the stress-reliving agents of dark chocolate seems to have catalyzed the demand in that particular region. Also, the online retailing advent and e-commerce seem to have propelled the chocolate manufacturers to extend their base of consumers and this improves their margins of profit. Also, dark chocolate is said to be a suitable gifting choice which bolstered the demand in such a region. However, the thriving beverages and food industry in such region use dark chocolates in muffins, cakes, shakes and chocolate sauces which further has capitalised on the North-American Industrial Chocolate Market Outlook. If the IMARC Group solution is to be expected, it seems that the North American dark chocolate market shall exhibit better growth in the coming years.
After the pandemic crisis that stuck the whole world, surely there was a huge impact on the supply chain and product of dark chocolate. Many industries had to shut down or halt the market which eventually resulted in the loss across different markets and economies of the countries. Considering the industry of dark chocolate in North America, the supply chain got badly affected while there was a limited number of workers who were available for production. This eventually made less growth for this market during the pandemic times. But as the government is lifting up the restrictions, there seems to be a good change in the market and soon it shall reach the expected market in the coming years.
As per the type:
As per the application:
- Flavouring Ingredients
- Chocolate Bars
As per the regional analysis, it is quite evident that the US has been dominating the North-American Industrial Chocolate Market Insights followed by Mexico and Canada.
There are some prominent players in the market of North American industrial chocolate that include Mars, Cargill, Blommer, Mondelez, Barry Callebaut, and Alpezzi Chocolate to name some.