U.S.: Market for Chocolate Bars with Cereals, Fruit or Nuts 2023

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 totaled $X in 2021, with an increase of 1.8% against the previous year. Over the period under review, the total consumption indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +4.5% against 2016 indices. Over the period under review, the market reached the maximum level in 2021 and is likely to see steady growth in the near future.

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 dropped modestly to $X in 2021. Overall, the total production indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +6.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +78.7% against 2012 indices. The most prominent rate of growth was recorded in 2014 with an increase of 22%. Over the period under review, production of hit record highs at $X in 2020, and then contracted modestly in the following year.

Exports of Chocolate Bars with Cereals, Fruit or Nuts

Exports from the U.S.

After two years of decline, shipments abroad of chocolate bars with cereals, fruit or nuts increased by 8.9% to X tons in 2021. Over the period under review, exports, however, saw a perceptible contraction. Over the period under review, the exports of reached the peak figure at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, exports of chocolate bars with cereals, fruit or nuts expanded sharply to $X in 2021. In general, exports, however, showed a relatively flat trend pattern. Over the period under review, the exports of reached the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

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 46% 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 7.5% share.

From 2012 to 2021, the average annual growth rate of volume to Canada amounted to -2.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (-3.4% per year) and South Korea (-4.2% per year).

In value terms, Canada ($X) remains the key foreign market for cereal, fruit or nut chocolate bar exports from the United States, comprising 44% of total exports. The second position in the ranking was held by South Korea ($X), with an 8.2% share of total exports. It was followed by Mexico, with a 6.9% share.

From 2012 to 2021, the average annual growth rate of value to Canada stood at +1.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Korea (-4.1% per year) and Mexico (-2.7% per year).

Export Prices by Country

In 2021, the average export price for chocolate bars with cereals, fruit or nuts amounted to $X per ton, approximately mirroring the previous year. Over the last nine-year period, it increased at an average annual rate of +1.9%. The pace of growth appeared the most rapid in 2015 when the average export price increased by 9.5% against the previous year. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the near future.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Panama ($X per ton), while the average price for exports to Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Panama (+3.8%), 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 2021, after four years of decline, there was significant growth in supplies from abroad of chocolate bars with cereals, fruit or nuts, when their volume increased by 13% to X tons. Over the period under review, imports, however, saw a relatively flat trend pattern. Over the period under review, imports of reached the maximum at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, imports of chocolate bars with cereals, fruit or nuts soared to $X in 2021. The total import value increased at an average annual rate of +4.8% over the period from 2012 to 2021; 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

In 2021, Mexico (X tons) constituted the largest cereal, fruit or nut chocolate bar supplier to the United States, accounting for 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. The third position in this ranking was taken by Germany (X tons), with a 5.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Mexico totaled -3.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+5.9% per year) and Germany (+4.2% per year).

In value terms, Canada ($X), Mexico ($X) and Germany ($X) were the largest cereal, fruit or nut chocolate bar suppliers to the United States, with a combined 69% share of total imports. These countries were followed by Switzerland, Belgium and Austria, which together accounted for a further 16%.

Among the main suppliers, Belgium, with a CAGR of +12.1%, saw the highest rates of growth with regard to the value of imports, 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 2021, growing by 6.2% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +4.9%. The pace of growth was the most pronounced in 2014 an increase of 24% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

Prices varied noticeably country of origin: the country with the highest price was Switzerland ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Canada (+3.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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