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Report: US chocolate candy market to grow

24 Oct 2015

According to researcher Packaged Facts, sales of chocolate candy in the US will exceed $26 billion for the first time in 2018, up from roughly $22 estimated for this year

With some 81% of American consumers eating chocolate, the future outlook for the U.S. chocolate candy market is bullish, according to a report by market research publisher Packaged Facts. By 2018, Packaged Facts expects sales of chocolate candy in the U.S. to exceed $26 billion for the first time, up from roughly $22 billion in sales estimated by the end of 2015. Most important, the category is quite dynamic, the company said: with a strong pace of innovation, an influx of creative new players and a steady flow of new products that engage consumers.

The findings were published in the report Chocolate Candy in the U.S., 10th Edition.

Several factors support a continued growth curve for the market, according to Packaged Facts. One, the market has continued growing despite the economic climate, underscoring consumer devotion to the product. Two, the growing perception of the product as an accessible luxury creates many opportunities to trade the consumer up to premium products. Three, a growing body of research supports the status of cocoa as a superfood, with multi-dimensional nutritional benefits. This positive halo around chocolate enhances its image as a guilt-free indulgence, and can ultimately drive more consumption.

There are also challenges faced by the industry: including the public concern about the cocoa farming process, and short-term, the supply of cocoa. Overall, however, Packaged Facts concludes that the industry is poised for continued growth based on the many positive trends now unfolding in the market.