U.S.: Market for Chocolate Bars with Cereals, Fruit or Nuts 2024

Market Size for Chocolate Bars with Cereals, Fruit or Nuts in the U.S.

The U.S. market for chocolate bars with cereals, fruit or nuts rose to $X in 2022, picking up by 2.3% against the previous year. The market value increased at an average annual rate of +3.2% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Consumption of peaked in 2022 and is likely to see gradual growth in the immediate term.

Production of Chocolate Bars with Cereals, Fruit or Nuts in the U.S.

In value terms, production of chocolate bars with cereals, fruit or nuts reached $X in 2022. The total output value increased at an average annual rate of +3.6% 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 2015 with an increase of 26% against the previous year. Production of peaked at $X in 2020; afterwards, it flattened through to 2022.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from the U.S.

In 2022, overseas shipments of chocolate bars with cereals, fruit or nuts increased by 8.3% to X tons, rising for the second year in a row after two years of decline. Overall, exports, however, showed a slight contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 8.9% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, exports of chocolate bars with cereals, fruit or nuts rose notably to $X in 2022. In general, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 10% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2018; afterwards, it flattened through to 2022.

Exports by Country

Canada (X tons) was the main destination for exports of chocolate bars with cereals, fruit or nuts from the United States, with a 43% share of total exports. Moreover, exports of chocolate bars with cereals, fruit or nuts to Canada exceeded the volume sent to the second major destination, Mexico (X tons), fivefold. South Korea (X tons) ranked third in terms of total exports with a 5.9% share.

From 2012 to 2022, the average annual growth rate of volume to Canada amounted to -1.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-2.5% per year) and South Korea (-5.3% per year).

In value terms, Canada ($X) remains the key foreign market for chocolate bars with cereals, fruit or nuts exports from the United States, comprising 43% of total exports. The second position in the ranking was held by Mexico ($X), with a 7.2% share of total exports. It was followed by South Korea, with a 6.4% share.

From 2012 to 2022, the average annual growth rate of value to Canada stood at +1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-1.0% per year) and South Korea (-5.2% per year).

Export Prices by Country

In 2022, the average export price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, picking up by 1.6% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +1.8%. The most prominent rate of growth was recorded in 2015 when the average export price increased by 9.5%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Australia ($X per ton), while the average price for exports to South Africa ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Canada (+3.5%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Chocolate Bars with Cereals, Fruit or Nuts

Imports into the U.S.

In 2022, overseas purchases of chocolate bars with cereals, fruit or nuts increased by 4.2% to X tons, rising for the second year in a row after four years of decline. Over the period under review, imports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when imports increased by 13%. Over the period under review, imports of attained the maximum in 2022 and are likely to continue growth in years to come.

In value terms, imports of chocolate bars with cereals, fruit or nuts rose rapidly to $X in 2022. The total import value increased at an average annual rate of +5.5% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 19%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

In 2022, Mexico (X tons) constituted the largest supplier of cereal, fruit or nut chocolate bar to the United States, with a 55% share of total imports. Moreover, imports of chocolate bars with cereals, fruit or nuts from Mexico exceeded the figures recorded by the second-largest supplier, Canada (X tons), threefold. Germany (X tons) ranked third in terms of total imports with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Mexico amounted to -2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+5.0% per year) and Germany (+4.5% per year).

In value terms, the largest cereal, fruit or nut chocolate bar suppliers to the United States were Canada ($X), Mexico ($X) and Belgium ($X), with a combined 69% share of total imports. Switzerland, Germany, Italy and Austria lagged somewhat behind, together accounting for a further 19%.

Italy, with a CAGR of +13.8%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for chocolate bars with cereals, fruit or nuts stood at $X per ton in 2022, picking up by 7.9% against the previous year. Over the last decade, it increased at an average annual rate of +5.2%. The most prominent rate of growth was recorded in 2014 an increase of 24% against the previous year. Over the period under review, average import prices hit record highs in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Canada ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (+4.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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