United States chocolate powder market was valued at US$ 3,993.32 million in 2022 and a projected to generate a revenue of US$ 5,733.11 million by 2031 at a CAGR of 4.1% during the forecast period.
The market demonstrates significant market potential for the industry players. In comparison to other countries, the United States leads the global market, generating the highest revenue of US$4,185.00 million in 2023. This underlines the country's strong presence in the chocolate powder industry and showcases its status as a key player in the global market.
The per capita revenue in 2023 is expected to amount to US$12.43, signifying the widespread popularity and consumption of chocolate powder products among the US population. This consumer preference for chocolate-based products drives the growth of the market and presents an attractive opportunity for manufacturers and retailers.
An interesting trend in the chocolate powder market is the rising popularity of out-of-home consumption. By 2025, it is estimated that 61% of spending and 5% of volume consumption will be attributed to out-of-home consumption, including consumption in bars and restaurants. This shift in consumer behavior indicates a growing demand for indulging in chocolate-based beverages and desserts while dining out, creating a promising market segment for industry players to target.
Furthermore, the volume is projected to reach 211.60 million kilograms by 2025, with a growth rate of 2.7% expected in 2024. This upward trajectory in volume consumption highlights the increasing demand for chocolate powder products in the US market, presenting opportunities for manufacturers to expand their production and cater to the growing consumer base.
In terms of individual consumption, the average volume per person in the US chocolate powder market is expected to amount to 0.60 kilograms in 2023. This indicates a substantial demand for chocolate powder products among the US population, showcasing the favorable market conditions and potential for manufacturers and retailers to thrive.
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The US chocolate powder market is experiencing a significant boost in consumer demand, driving its growth. Cocolate powder is a versatile ingredient used in a wide range of applications, including hot cocoa, baking, and dessert preparations. The comforting and indulgent nature of chocolate-flavored beverages and desserts appeals to consumers, especially during colder seasons or as a treat for special occasions. Additionally, the increasing popularity of gourmet and specialty coffee shops has led to a rise in the consumption of chocolate-flavored drinks, further fueling the demand for chocolate powder.
Moreover, the convenience and ease of use associated with chocolate powder products have also contributed to their popularity. With busy lifestyles, consumers appreciate the convenience of being able to prepare a quick and satisfying cup of hot cocoa or add chocolate flavor to their recipes with ease. The versatility of chocolate powder in both sweet and savory dishes add to its appeal.
Furthermore, the emotional connection and nostalgia associated with chocolate contribute to its consistent demand in the US chocolate powder market. Chocolate is often associated with comfort, pleasure, and indulgence, making it a sought-after treat for many consumers.
The US market has witnessed a growing preference for premium and artisanal chocolate powder products. Consumers are increasingly seeking higher-quality options that offer unique flavors, distinct origin characteristics, and ethically sourced ingredients.
There has been an increased emphasis on quality and authenticity. Consumers are becoming more discerning about the ingredients used in their food and beverages, preferring natural and high-quality components. They are willing to pay a premium for chocolate powder that is made from premium cocoa beans, free from artificial additives or flavors.
The rise of the "foodie" culture and the desire for unique and exotic flavor experiences have contributed to the demand for artisanal chocolate powder in the chocolate powder market. Artisanal brands often focus on small-batch production, handcrafted techniques, and the use of single-origin or specialty cocoa beans. These products offer a distinct flavor profile and allow consumers to explore different taste sensations.
Additionally, the growing interest in sustainability and ethical sourcing practices has led consumers to seek out chocolate powder brands that prioritize fair trade, organic certifications, and support for cocoa farmers. Consumers are willing to support companies that align with their values and are actively involved in creating a positive social and environmental impact.
While the US chocolate powder market is experiencing growth, it faces challenges due to increasing health and wellness concerns among consumers. A growing awareness of the potential health implications associated with excessive sugar and calorie intake has led to a more cautious approach toward chocolate consumption.
Consumers are becoming more conscious of their dietary choices, seeking healthier alternatives or moderating their overall intake of chocolate powder. The high sugar content in some chocolate powder products can be a deterrent for health-conscious individuals who are actively monitoring their sugar intake. This is particularly relevant as obesity rates and concerns about chronic health conditions continue to rise.
Furthermore, some consumers are adopting specific diets or lifestyles that restrict or eliminate the consumption of certain ingredients, such as sugar, dairy, or artificial additives. This can limit the target market for traditional chocolate powder products, as these individuals seek alternative options that align with their dietary requirements.
To address these concerns, manufacturers in the chocolate powder market are responding by offering healthier alternatives. This includes products with reduced sugar content, organic or natural sweeteners, and even sugar-free options. Manufacturers are also exploring the use of alternative ingredients such as plant-based sweeteners or superfoods to enhance the nutritional profile of their products.
The demand for milk chocolate powder drink is likely to grow over the next eight years in the global chocolate powder market. The sales of chocolate drinks are set to soar. As per our findings sales are up nearly 10% compared with 2021 figures, making it one of the fastest growing markets in food and drink at present. Moreover, it has been found that over 16% of consumers said they were buying ready-to-mix powder drinks in 2021, compared with only 9% three years earlier. It is majorly attributed to two main factors, namely people looking for healthier options and an increased love for snacking on the go. Plus, many respondents said they enjoyed being able to enjoy a chocolate drink without the guilt of eating a full bar. The survey also reveals that more than a quarter of consumers said they were prepared to pay around 25 pence per 100 g for a powder drink, which is an increase from 18% in 2021.
The US chocolate powder market is primarily dominated by supermarkets and hypermarkets, which hold the largest 68% share in the segment.
These two retail formats have gained prominence in the chocolate powder market due to several factors. Firstly, their wide distribution networks and extensive shelf space allow them to showcase a diverse range of chocolate powder brands and flavors, catering to different consumer preferences. Additionally, supermarkets and hypermarkets often offer competitive pricing, discounts, and promotional offers, making them attractive destinations for price-conscious consumers.
Moreover, the convenience factor plays a significant role in the success of supermarkets and hypermarkets in this market segment. These stores are strategically located in easily accessible areas, providing convenience to consumers who can conveniently purchase chocolate powder along with other household necessities. The ability to browse through different options, compare prices, and make informed purchasing decisions further contributes to their popularity.
By packaging type, pouches have emerged as the most popular packaging type for chocolate powder market, holding a significant share and projected to maintain dominance in the forecast period. The popularity of pouches can be attributed to their convenience, product protection, and alignment with consumer preferences.
Manufacturers benefit from the lightweight and stackable nature of pouches, facilitating transportation and storage, while also providing ample branding space. Consumers appreciate the convenience and resealability of pouches, allowing for multiple servings and maintaining freshness. Pouches also meet the shifting consumer preferences for sustainability, as they can be made from recyclable or biodegradable materials. The rise of e-commerce has further propelled the preference for pouches due to their suitability for online sales.
The projected dominance of pouches in the US chocolate powder market is driven by the growing demand for chocolate powder, innovation in packaging designs, and the focus on sustainable materials. Manufacturers should continue investing in creative designs and sustainable packaging to capitalize on this trend and meet evolving consumer expectations.
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