(Food-Beverage-News.Com, November 01, 2017 ) The North America Cocoa and Chocolate Market was worth $38.23 billion in 2016 and estimated to be growing at a CAGR of 2.42%, to reach $43.08 billion by 2021. The market is showing immense potential in the mentioned period. Chocolate is classified by the amount of cocoa it contains. Milk chocolates’ share is about 50% of all chocolate consumption but they contain as little as 10% cocoa. On the other hand, chocolate is considered as “dark chocolate” if it has more than 60% cocoa in it.
Powerful growth in demand is unevenly matched against an unstable and unpredictable supply. But chocolate consumers are quite pricing insensitive. Except in some rare circumstances consumers are ready to purchase cocoa product at any price. The huge demand for chocolate and cocoa in confectionery and food and beverage industries majorly drives the market. The health benefits of cocoa and chocolate in pharmaceuticals and cosmetics has enough evidence to back manufacturers to consider using such ingredients.
North America Cocoa and Chocolate Market Segmentation:
• By Chocolate Type: Introduction, Dark Chocolate, Milk Chocolate, White Chocolate and Filled Chocolate
• By Cocoa Type: Introduction, Cocoa Butter, Cocoa Liquor and Cocoa Powder
• By Application: Introduction, Cosmetics, Pharmaceuticals, Food & Beverage and Confectionery
• By Geography: Introduction, United States and Canada
The milk and white chocolate segment is anticipated to grow at the highest rate from 2016 to 2021. United States has the fastest growth rate, and also has the largest market share in North America. The cocoa liquor segment leads the cocoa market in 2016. Consumer awareness pertaining to health benefits of cocoa has led to some of the important innovations in the North American cocoa and chocolate industry.
Key Players:
Some of the major companies dominating the market, by their products and services include:
Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, we cater to the needs of both individual and corporate clients. Our analyst team comprises expert professionals in market research, who with their collective knowledge and skillset dedicatedly serve clients from various industries and regions.
Media Contact:
Abhishek Shukla
International Business Development Manager
Market Data Forecast
Direct Line: +1-888-702-9626; Mobile: +91 998 555 0206
