U.S.: Chocolate And Confectionery Market 2024

Chocolate And Confectionery Market Size in the U.S.

The U.S. chocolate and confectionery market totaled $X in 2022, surging by 2.4% against the previous year. The market value increased at an average annual rate of +2.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. Over the period under review, the market reached the maximum level in 2022 and is expected to retain growth in the near future.

Chocolate And Confectionery Production in the U.S.

In value terms, chocolate and confectionery production reached $X in 2022. The total output value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2015 with an increase of 5.7%. Chocolate and confectionery production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Chocolate And Confectionery Exports

Exports from the U.S.

In 2022, overseas shipments of chocolate and confectionery increased by 2.1% to X tons, rising for the second year in a row after four years of decline. Overall, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 12% against the previous year. The exports peaked at X tons in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

In value terms, chocolate and confectionery exports amounted to $X in 2022. The total export value increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 18%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in years to come.

Exports by Country

Canada (X tons) was the main destination for chocolate and confectionery exports from the United States, with a 52% share of total exports. Moreover, chocolate and confectionery exports to Canada exceeded the volume sent to the second major destination, Mexico (X tons), threefold. South Korea (X tons) ranked third in terms of total exports with a 2.6% share.

From 2012 to 2022, the average annual growth rate of volume to Canada was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-2.0% per year) and South Korea (-4.3% per year).

In value terms, Canada ($X) remains the key foreign market for chocolate and confectionery exports from the United States, comprising 46% of total exports. The second position in the ranking was held by Mexico ($X), with a 14% share of total exports. It was followed by South Korea, with a 3.1% share.

From 2012 to 2022, the average annual growth rate of value to Canada totaled +2.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+0.5% per year) and South Korea (-2.0% per year).

Export Prices by Country

The average chocolate and confectionery export price stood at $X per ton in 2022, remaining relatively unchanged against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2013 when the average export price increased by 12%. Over the period under review, the average export prices reached the maximum in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Mexico ($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 the UK (+4.6%), while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into the U.S.

In 2022, imports of chocolate and confectionery into the United States expanded rapidly to X tons, surging by 10% against 2021 figures. 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 throughout the analyzed period. The most prominent rate of growth was recorded in 2019 with an increase of 11% against the previous year. Over the period under review, imports reached the maximum in 2022 and are likely to see steady growth in years to come.

In value terms, chocolate and confectionery imports skyrocketed to $X in 2022. The total import value increased at an average annual rate of +5.0% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Canada (X tons) constituted the largest supplier of chocolate and confectionery to the United States, accounting for a 36% share of total imports. Moreover, chocolate and confectionery imports from Canada exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was held by Cote d'Ivoire (X tons), with an 8.4% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Canada totaled +4.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (-0.5% per year) and Cote d'Ivoire (+9.8% per year).

In value terms, Canada ($X) constituted the largest supplier of chocolate and confectionery to the United States, comprising 37% of total imports. The second position in the ranking was held by Mexico ($X), with a 12% share of total imports. It was followed by Cote d'Ivoire, with a 6.3% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Canada totaled +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+1.9% per year) and Cote d'Ivoire (+7.4% per year).

Import Prices by Country

The average chocolate and confectionery import price stood at $X per ton in 2022, rising by 7% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The growth pace was the most rapid in 2014 when the average import price increased by 11% against the previous year. Over the period under review, average import prices attained the maximum in 2022 and is likely to continue growth in years to come.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Mexico ($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 (+2.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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