U.S.: Chocolate And Confectionery Market Overview 2021

Chocolate And Confectionery Market Size in the U.S.

For the eleventh consecutive year, the U.S. chocolate and confectionery market recorded growth in sales value, which increased by X% to $X in 2019. The market value increased at an average annual rate of +X% over the period from 2007 to 2019; 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 X% year-to-year. Chocolate and confectionery consumption peaked in 2019 and is likely to see steady growth in years to come.

Chocolate And Confectionery Production in the U.S.

In value terms, chocolate and confectionery production contracted slightly to $X in 2019. The total output value increased at an average annual rate of +X% over the period from 2007 to 2019; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018, and then dropped slightly in the following year.

Chocolate And Confectionery Exports

Exports from the U.S.

In 2019, the amount of chocolate and confectionery exported from the U.S. contracted slightly to X tonnes, declining by -X% on the previous year's figure. The total export volume increased at an average annual rate of +X% over the period from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2011 with an increase of X% year-to-year. Over the period under review, exports hit record highs at X tonnes in 2014; however, from 2015 to 2019, exports failed to regain the momentum.

In value terms, chocolate and confectionery exports contracted slightly to $X in 2019. In general, total exports indicated a remarkable increase from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2019 figures, exports decreased by -X% against 2014 indices. The pace of growth was the most pronounced in 2011 when exports increased by X% year-to-year. Exports peaked at $X in 2014; however, from 2015 to 2019, exports failed to regain the momentum.

Exports by Country

Canada (X tonnes) was the main destination for chocolate and confectionery exports from the U.S., with a X% share of total exports. Moreover, chocolate and confectionery exports to Canada exceeded the volume sent to the second major destination, Mexico (X tonnes), threefold. The third position in this ranking was occupied by South Korea (X tonnes), with a X% share.

From 2007 to 2019, the average annual growth rate of volume to Canada stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and South Korea (+X% per year).

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

From 2007 to 2019, the average annual growth rate of value to Canada amounted to +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Mexico (+X% per year) and South Korea (+X% per year).

Export Prices by Country

The average chocolate and confectionery export price stood at $X per tonne in 2019, remaining relatively unchanged against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2013 an increase of X% year-to-year. The export price peaked in 2019 and is expected to retain growth in years to come.

There were significant differences in the average prices for the major export markets. In 2019, the country with the highest price was the UK ($X per tonne), while the average price for exports to Mexico ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Australia, while the prices for the other major destinations experienced more modest paces of growth.

Chocolate And Confectionery Imports

Imports into the U.S.

In 2019, overseas purchases of chocolate and confectionery were finally on the rise to reach X tonnes for the first time since 2016, thus ending a two-year declining trend. The total import volume increased at an average annual rate of +X% from 2007 to 2019; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2009 when imports increased by X% year-to-year. Over the period under review, imports attained the maximum in 2019 and are expected to retain growth in years to come.

In value terms, chocolate and confectionery imports totaled $X in 2019. Over the period under review, total imports indicated prominent growth from 2007 to 2019: its value increased at an average annual rate of +X% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2010 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2019 and are likely to see steady growth in the immediate term.

Imports by Country

Canada (X tonnes), Mexico (X tonnes) and the Netherlands (X tonnes) were the main suppliers of chocolate and confectionery imports to the U.S., with a combined X% share of total imports.

From 2007 to 2019, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico, while imports for the other leaders experienced more modest paces of growth.

In value terms, Canada ($X) constituted the largest supplier of chocolate and confectionery to the U.S., comprising X% of total imports. The second position in the ranking was occupied by Mexico ($X), with a X% share of total imports. It was followed by Indonesia, with a X% share.

From 2007 to 2019, the average annual rate of growth in terms of value from Canada amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+X% per year) and Indonesia (+X% per year).

Import Prices by Country

In 2019, the average chocolate and confectionery import price amounted to $X per tonne, falling by -X% against the previous year. Over the period from 2007 to 2019, it increased at an average annual rate of +X%. The pace of growth was the most pronounced in 2008 when the average import price increased by X% y-o-y. The import price peaked at $X per tonne in 2018, and then shrank modestly in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2019, the country with the highest price was Belgium ($X per tonne), while the price for the Netherlands ($X per tonne) was amongst the lowest.

From 2007 to 2019, the most notable rate of growth in terms of prices was attained by Indonesia, while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the largest markets for chocolate and confectionery in the world?

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The countries with the highest volumes of chocolate and confectionery consumption in 2019 were China (8.3M tonnes), the U.S. (4.4M tonnes) and India (3.2M tonnes), with a combined 30% share of global consumption. These countries were followed by Japan, Germany, Brazil, Pakistan, Indonesia, Russia, Bangladesh, Mexico, Italy and Nigeria, which together accounted for a further 25%.

What are the largest producers of chocolate and confectionery in the world?

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China (8.2M tonnes) remains the largest chocolate and confectionery producing country worldwide, accounting for 16% of total volume. Moreover, chocolate and confectionery production in China exceeded the figures recorded by the second-largest producer, the U.S. (3.8M tonnes), twofold. India (3.1M tonnes) ranked third in terms of total production with a 6% share.

What are the leading suppliers of chocolate and confectionery to the U.S.?

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In value terms, Canada ($1.5B) constituted the largest supplier of chocolate and confectionery to the U.S., comprising 36% of total imports. The second position in the ranking was occupied by Mexico ($577M), with a 14% share of total imports. It was followed by Indonesia, with a 7.8% share.

What are the leading importers of chocolate and confectionery from the U.S.?

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In value terms, Canada ($821M) remains the key foreign market for chocolate and confectionery exports from the U.S., comprising 43% of total exports. The second position in the ranking was occupied by Mexico ($251M), with a 13% share of total exports. It was followed by South Korea, with a 3.9% share.

What is the average export price for chocolate and confectionery in the U.S.?

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In 2019, the average chocolate and confectionery export price amounted to $4,858 per tonne, approximately mirroring the previous year.

What is the average import price for chocolate and confectionery in the U.S.?

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The average chocolate and confectionery import price stood at $4,112 per tonne in 2019, reducing by -1.8% against the previous year.