Chocolate market share of U.S. companies 2021 | Statista (2024)

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Chocolate market share of U.S. companies 2021 | Statista? ›

Largest Chocolate Companies Research Summary

The largest chocolate company in the world is Mars Wrigley Confectionery, with a net sales of $20.0 billion. As of 2023, the global chocolate industry has a market size of $62.4 billion. Over 7.5 million tons of chocolate was sold around the world in 2022.

Largest Chocolate Companies Research Summary

The largest chocolate company in the world is Mars Wrigley Confectionery, with a net sales of $20.0 billion. As of 2023, the global chocolate industry has a market size of $62.4 billion. Over 7.5 million tons of chocolate was sold around the world in 2022.

The World's Largest Chocolate and Cocoa Plant, Hershey, PA. Aerial view of the Hershey Chocolate Corporation's factory, world's largest manufacturer of solid chocolate and cocoa products.

The Hershey Company (NYSE:HSY) is the most popular brand in America for chocolate confectionery, having more than 33% share of the entire chocolate market in the country.

The U.S. chocolate confectionery market is estimated to be worth 53.46 billion U.S. dollars, only expected to grow in the coming years. The country is also the worldwide leading importer of chocolate and products with chocolate. Imports of this nature amount to over 3.8 billion U.S. dollars annually.

U.S. confectionery market share 2021, by company

With a share of almost 24 percent in 2021, Hershey led the U.S. confectionery market. The company was closely followed by top competitor Mars, which held a share of just under 23 percent that year.

Hershey's U.S. sales topped $7 billion out of around $8 billion global sales in 2019. However, Mars, a privately-held company headquartered in Chicago, Illinois, is by far the world's leading confectionery company with up to $37 billion in annual revenue.

According to self-described fair trade proponents including Ghanaian cooperative Kuapa Kokoo, "Big Chocolate" companies are Mondelez (which owns Cadbury), Mars, Nestlé, and The Hershey Company. Together these companies process about 12% of the world's 3 million tons of cocoa each year.

In 2023, Mars Wrigley Confectionery was the leading chocolate and cocoa manufacturer worldwide, with net sales of 22 billion U.S. dollars. Ferrero Group and Mondelēz rounded out the top three companies, both exceeding ten billion U.S. dollars in net sales.

Steeped in history, many American chocolate brands have been manufacturing confections for well over 100 years. Quite a few of these companies, such as Guittard, Blommer Chocolate Company and Ghirardelli, are family-run and have been for multiple generations.

Who is Hershey's biggest competitor? ›

The main competitors of Hershey include Kraft Heinz (KHC), General Mills (GIS), Corteva (CTVA), Kenvue (KVUE), Kimberly-Clark (KMB), Keurig Dr Pepper (KDP), Constellation Brands (STZ), Sysco (SYY), Ambev (ABEV), and Estée Lauder Companies (EL). These companies are all part of the "consumer staples" sector.

With a U.S. market share of about 23.6 percent in 2021, Hershey was the leading confectionery company in the United States, beating out Mars with almost one percent.

The Hershey Company does not own Cadbury Schweppes.

Hershey Company's brand is ranked #42 in the list of Global Top 100 Brands, as rated by customers of Hershey Company. Their current market cap is $30.98B. Nestle USA's brand is ranked #141 in the list of Global Top 1000 Brands, as rated by customers of Nestle USA. Their current valuation is $315.74B.

An adequate supply of cocoa beans is critical to chocolate manufacturers in Pennsylvania, which is the top chocolate-producing state in the nation.

Switzerland holds the distinction of consuming the most chocolate per capita. The Swiss are renowned for their love of chocolate, a reputation well-supported by statistics showing their high consumption levels.

With 2.2 million tonnes of cocoa in 2022, Côte d'Ivoire is the world's largest producer, accounting for a third of the global total. For many reasons, the cocoa trade in Côte d'Ivoire and Western Africa has been controversial. Often, farmers make about 5% of the retail price of a chocolate bar, and earn $1.20 each day.