Chocolate sales still soaring in US with consumers favouring milk variety
The National Confectioners Association (NCA) releases its latest insights on chocolate consumers in its new research, Getting to Know Chocolate Consumers 2024.
Overall, the confectionery category reached $48 billion (€45bn) in total sales in 2023. Chocolate is the highest contributor to sales, accounting for 56% of total confectionery sales in 2023 or $21.4 billion (€20bn) in value - a new high for the category. Chocolate volume and unit sales have fallen in recent years, yet the sweet treats are still able to make up more than half of all confectionery purchases in the US.
Consumers continue to have a strong emotional connection to chocolate. More than nine out of 10 (94%) of the NCA’s survey respondents reported sometimes purchasing chocolate for personal enjoyment. Furthermore, almost three-quarters (72%) feel chocolate belongs in a happy, balanced lifestyle. However, while US consumers still seek affordable treats, they are changing their purchasing behaviours to reflect inflation patterns.
The US trade organisation’s report was based on a survey of 1,595 consumers who were asked about their chocolate purchasing habits and attitudes toward product claims. NCA’s report was conducted in August 2024 by 210 Analytics, with sales data from Circana and Euromonitor and support from leading chocolate company, Barry Callebaut.
Consumers crave chocolate as their number one confectionery treat
“Chocolate remains incredibly popular with consumers,” confirms Christopher Gindlesberger, Senior Vice President of Public Affairs and Communication at the National Confectioners Association (NCA).
“Chocolate serves a unique role as an affordable and accessible treat,” says John Downs, president and CEO of the NCA. Almost two-thirds of consumers (65%) reported they turned to chocolate as an affordable treat. “That’s important because in this environment in which consumers are facing higher food prices, people are looking for ways to manage their own personal costs,” says Gindlesberger.
However, when it comes to chocolate, although the US population have seen food price hikes and economic uncertainty, Americans are putting aside space in their budgets to buy chocolate as a treat for themselves and others.
“Consumers are still turning to the confectionery category to help them elevate their most cherished moments,” Gindlesberger adds. “While American families are taking steps to streamline their spending, they continue to seek out their favourite chocolate products to enhance moments of joy and comfort,” Downs adds.
The big four candy holidays - Valentine’s Day, Easter, Halloween, and the winter holidays - account for 65% of total chocolate sales. The popularity of seasonal sales represents “more than just transactions but also treasured celebrations and traditions shared with friends and family”, Gindlesberger notes.
Inflationary pressures
However, two-thirds of survey respondents confirmed they had changed their chocolate-buying habits due to inflation and its impact on their available spending at the tills.
As a response to inflation, chocolate shoppers opt for the sweet treat in smaller quantities or buy larger packs to save over the long term. They also purchase chocolate when it’s on sale, buy it less often, or only buy their favourite products. Most US shoppers surveyed eat chocolate one to two times per week.
According to the NCA’s State of Treating Report 2024, consumers’ top three purchasing factors are price, brand and mood. The NCA indicates that to appeal to consumers, chocolate companies need to leverage brand loyalty and popular products to drive and retain sales. They recommend integrating brand extensions, novelty items, gifting and innovations to increase engagement and trial new products.
Leading trends driving chocolate purchases
Sweet escape is a leading trend among consumers’ chocolate purchasing habits, the NCA identified in this year’s report. With chocolate’s status as a much-loved treat intact, 21% of survey respondents consume more chocolate than they did in 2023.
US consumers continue to favour milk chocolate, with 40% of American shoppers opting for this variety as their top chocolate taste. Dark chocolate takes the second spot by 28% of consumers, with white chocolate some way behind at 7%. Over a quarter of shoppers (26%) would be happy with any chocolate variety.
However, today’s consumers do enjoy an extra twist and added spice in their chocolate purchases. Almost half (47%) of US consumers prefer their chocolate to contain ingredients such as caramel, peanut butter, almonds and peanuts.
According to the NCA’s report, millennials are the demographic most likely to select chocolate that contains other flavours. Gen Z shoppers tend to favour chocolate products without added flavours. Caramel is the number one choice for having the most significant appeal across generations.
Gifting is also a big part of chocolate spending patterns. Almost three-quarters (72%) of consumers occasionally or often gift chocolate to others for special occasions. Valentine’s Day, a birthday and Halloween are the top occasions and seasonal events consumers buy chocolate as gifts. More than a quarter (29%) of consumers say they do not need a particular occasion to give someone chocolate.
The majority of consumers (88%) polled buy mainstream chocolate brands, but 71% of these mainstream purchasers sometimes choose premium chocolate varieties.
NCA analysts predict the confectionery growth trend will continue, with projections taking the total category to $61 billion (€57 bn) by 2028. The NCA anticipates that US chocolate sales will reach $37.6 billion (€34.9 bn) by 2029. It also expects the reduction in volume sales growth resulting from the COVID-19 pandemic to end by 2026.
