Industrial Chocolate Production in the US - Market Research Report

Sweet treat: A projected decline in cocoa prices will likely hurt selling prices for industrial chocolate producers

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.

The Industrial Chocolate Production industry has experienced growth, despite volatility from fluctuating cocoa prices and challenges introduced by the COVID-19 pandemic. The industry's production, which includes processed cocoa beans to manufacture cocoa products, including cocoa powder, liquor and butter, is largely destined for chocolate confectionery producers, although bakers and dairy beverage producers also buy cocoa products to infuse into their foods. In recent years, fluctuations in cocoa prices have been offset by improving disposable incomes and greater demand for premium chocolate goods. Despite an added emphasis on health consciousness by American consumers and challenges created by the COVID-19 pandemic that dragged down revenue, overall industry revenue has been increasing at a CAGR of 0.5% and is expected to reach $2.1 billion in 2023. Still, a decline in the price of cocoa will likely translate to lower selling prices over the current year, resulting in an expected revenue contraction of 0.5% in 2023. This industry includes companies that press cocoa beans to manufacture cocoa ingredients used in other food processing. This industry’s products include cocoa powder, cocoa butter and cocoa liquor.