Northern America: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in Northern America

The North American chocolate and confectionery market expanded slightly to $X in 2022, surging by 2.7% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. The level of consumption peaked in 2022 and is likely to continue growth in the near future.

Chocolate And Confectionery Production in Northern America

In value terms, chocolate and confectionery production amounted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% over the period from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 with an increase of 11%. The level of production peaked at $X in 2020; afterwards, it flattened through to 2022.

Chocolate And Confectionery Exports

Exports in Northern America

In 2022, approx. X tons of chocolate and confectionery were exported in Northern America; growing by 1.9% compared with 2021 figures. The total export volume increased at an average annual rate of +1.7% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 8.9%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

In value terms, chocolate and confectionery exports rose markedly to $X in 2022. The total export value increased at an average annual rate of +4.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 14%. Over the period under review, the exports reached the maximum in 2022 and are likely to see gradual growth in the near future.

Exports by Country

The shipments of the two major exporters of chocolate and confectionery, namely Canada and the United States, represented more than two-thirds of total export.

From 2012 to 2022, the biggest increases were recorded for Canada (with a CAGR of +4.3%).

In value terms, the largest chocolate and confectionery supplying countries in Northern America were Canada ($X) and the United States ($X).

Canada, with a CAGR of +7.1%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, increasing by 4.9% against the previous year. Over the last decade, it increased at an average annual rate of +2.4%. The most prominent rate of growth was recorded in 2013 an increase of 6.3%. Over the period under review, the export prices attained the maximum in 2022 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Canada totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+2.7%).

Chocolate And Confectionery Imports

Imports in Northern America

In 2022, approx. X tons of chocolate and confectionery were imported in Northern America; increasing by 11% on 2021. The total import volume increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, chocolate and confectionery imports surged to $X in 2022. The total import value increased at an average annual rate of +4.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States was the largest importer of chocolate and confectionery in Northern America, with the volume of imports accounting for X tons, which was near 78% of total imports in 2022. It was distantly followed by Canada (X tons), comprising a 22% share of total imports.

The United States was also the fastest-growing in terms of the chocolate and confectionery imports, with a CAGR of +3.5% from 2012 to 2022. At the same time, Canada (+3.3%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported chocolate and confectionery in Northern America, comprising 76% of total imports. The second position in the ranking was held by Canada ($X), with a 23% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +5.0%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, surging by 4.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.1%. The pace of growth appeared the most rapid in 2015 an increase of 19%. The level of import peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the United States totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+1.4%).

Source: IndexBox Platform

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