Total retail dollar sales of the U.S. chocolate candy market are expected to reach $23 billion in 2018, according to market research firm Packaged Facts, with sales increasing at a compound annual growth rate (CAGR) of more than 2% between 2013 and 2018. The market estimates are featured in the recently published report Chocolate Candy: U.S. Market Trends and Opportunities, 12th Edition. The report is the first in a trio of studies by Packaged Facts on the U.S. confectionery market, including upcoming reports on chewing gum and non-chocolate candy.
Packaged Facts estimates that holiday/seasonal chocolates account for about a quarter of the market’s sales. Easter is the largest segment, followed by Christmas, Valentine’s Day, and Halloween.
Looking ahead, Packaged Facts forecasts growth for the chocolate candy market through 2023.
“The chocolate market is indisputably dynamic with a strong pace of innovation, an influx of creative new players, and a steady flow of new products that engage diverse groups of consumers,” says David Sprinkle, research director for Packaged Facts. “There remains consumer devotion to confectionery products and the role of chocolate candy in particular as an accessible luxury, creating many opportunities to trade consumers up to premium products.”
As to be expected, seasonality also influences consumer purchases of candy and other snack foods. Sales typically spike around holidays due to the common practice of gifting and consuming snacks as part of these celebrations. These factors, coupled with a steadily rising population, confer stability to a U.S. chocolate candy market that is mature yet growing. Packaged Facts estimates that holiday/seasonal chocolates account for about a quarter of the market’s sales. Easter is the largest segment, followed by Christmas, Valentine’s Day, and Halloween.