Chocolate Market Predicted to Cross $30 Billion by 2021

Research and Markets has announced the addition of the "United States Chocolate Market By Type, By Age Group, By Point of Sale, Competition Forecast and Opportunities, 2011-2021" report to its offering.

The chocolate market in the U.S. is projected to cross $30 billion by 2021 on account of increasing product offerings by private label brands at affordable prices coupled with shifting consumer preference towards chocolates with health benefits.

The United States is the largest chocolate market in the world. Surging demand for premium, dark and sugar free chocolates; changing consumer taste and preferences; increasing use of chocolates in food and beverages, cosmetic and pharmaceutical industries; and growing chocolate gifting culture during festivals and special occasions are few of the key factors driving the chocolate market in the U.S.

Increasing the trend of setting up exclusive stores, selling products through online channels and expanding distribution channels are a few other factors that are positively influencing the country's chocolate market. Growing dark chocolate consumption is also being witnessed in the country, primarily on account of dark chocolates being rich in antioxidants, aiding in preventing cardiac arrests and preventing several other diseases.

In 2015, U.S. the chocolate market was dominated by countline and seasonal chocolate segments, which accounted for a cumulative revenue share of around 65 percent in the country's chocolate market. Presence of a wide and organized distribution network of retail stores and hypermarkets/supermarkets in the country is also contributing to boosting sales of chocolates in the U.S., with supermarkets/hypermarkets accounting for the largest share in 2015.