Canada Chocolate Market (2019-2025) | industry, Size, Share, Revenue, Analysis, Forecast, Trends, Growth, Value & Outlook

Latest 2023 Development of the Canada Chocolate Market

Canada Chocolate Market was growing steadily, driven by increasing disposable incomes, a growing demand for premium and dark chocolate, and a rising preference for healthier alternatives such as dark chocolate. This sector is a prominent part of the North America Chocolate Market. The market was also characterized by intense competition among local and international players, with leading companies investing in marketing and product innovation to maintain their share in the Canada Chocolate Industry. Chocolate manufacturing companies in Canada are stimulating the Chocolate Industry in Canada with the best quality chocolates. Cadbury's Dairy Milk is one of the most popular chocolate brands in Canada and the company has made numerous improvements to this product in recent years.

In recent years, the Chocolate Market in Canada has seen a substantial increase in consolidation as companies such as Hershey's and Mars have acquired smaller local chocolate makers in order to expand their presence in the industry. Moreover, the increasing focus on sustainability as major companies are investing in renewable energy and sustainable sourcing practices to reduce their carbon footprint and improve their overall sustainability. Further, the launch of healthy chocolate options such as dark chocolate bars and chocolate products made with natural sweeteners such as stevia is another major development of the market that propels the growth of the chocolate industry in Canada. In addition, Cadbury's Dairy Milk has launched new products in India and China, while Hershey's has increased its presence in Asia and Europe to expand their operations into new markets. 

Canada Chocolate Market  Synopsis

Canada chocolate market is expected to witness stagnant growth over the coming years due to the stagnation of the chocolate market in the country. The rising cost of raw materials especially sugar is making chocolate an expensive product in Canada. Moreover, growing awareness among people regarding health concerns makes consumers track the items they eat and hence try cutting down their calorie intake.

According to 6Wresearch, the Canada Chocolate Market size is projected to grow at a CAGR of 4.2% during 2019–2025. The chocolate market has been seen to increase even at the time of sluggish growth of the Canadian economy as people have started considering chocolate as an essential commodity to satisfy their craving for indulgence. Additionally, the introduction of international brands, availability of a variety of flavours, and expanding online chocolate distribution are the key factors catalyzing the growth of the chocolate market in Canada. Moreover, a higher young population and a booming retail sector would also augment the growth of the chocolate market in Canada during the forecast period.

Milk Chocolate is the dominant chocolate type among consumers due to its authentic sweet, milky and creamy texture. Gradually people are shifting towards premium dark chocolate with rich cocoa content accruing to the health benefits associated with it while satisfying the craving for chocolate. Further, with the growing trend of offering chocolates as gifts, expensive chocolates are expected to witness huge acceptance over the coming years in Canada.

The Canada chocolate market report comprehensively covers the market by product types, distribution channels, and chocolate types. The Canada chocolate market outlook report provides an unbiased and detailed analysis of the Canada chocolate market trends, Canada chocolate market share, opportunities, high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Key Highlights of the Report:

• Canada Chocolate Market Overview
• Canada Chocolate Market Outlook
• Canada Chocolate Market Forecast
• Historical Data of Canada Chocolate Market Revenues for the Period 2015-2018
• Canada Chocolate Market Size & Chocolate Market Forecast of Revenues, Until 2025
• Historical Data of Canada Chocolate Market Revenues, By Product Types, for the Period 2015-2018
• Market Size & Forecast of Canada Chocolate Market Revenues, By Product Types, Until 2025
• Historical Data of Canada Chocolate Market Revenues, By Distribution Channels, for the Period 2015-2018
• Market Size & Forecast of Canada Chocolate Market Revenues, By Distribution Channels, Until 2025
• Historical Data of Canada Chocolate Market Revenues, By Chocolate Types, for the Period 2015-2018
• Market Size & Forecast of Canada Chocolate Market Revenues, By Chocolate Types, Until 2025
• Market Drivers and Restraints
• Canada Chocolate Market Trends and Industry Life Cycle
• Porter’s Five Force Analysis and Market Opportunity Assessment
• Canada Chocolate Market Share, By Players
• Canada Chocolate Market Overview on Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Markets Covered

The Canada chocolate market report provides a detailed analysis of the following market segments:

By Product Types

• Milk Chocolate
• White Chocolate
• Dark Chocolate

By Distribution Channels

• Supermarkets/ Hypermarkets
• Grocery/Mom-n-Pop Stores
• Convenience Stores
• Online Channel
• Others (Specialized Retailers, Pharmacy, etc.)

By Chocolate Types

• Count lines & Straight lines
• Molded or Bar Chocolates
• Choco-panned & Sugar panned
• Others (Box chocolates, novelties, etc.)