The United States Candy Market is an established market, with consumers across different age groups enjoying various candy products. Some of the popular candy categories in the country include chocolate candy, sugared candy, and gum products. Chocolate candy products such as milk chocolate, dark chocolate, and white chocolate candies are especially loved by consumers. Sugared candies like hard candies, jelly and gummy candies, lollipops, and mints are also widely consumed. The candy manufacturing sector continues to invest heavily in product innovation and advancement of machinery and production processes to maintain consumer interest in traditional candy categories as well as launch new candy products with health benefits.
The United States Candy Market is estimated to be valued at US$ 24.13 Bn in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United States Candy Market are Perfetti Van Melle Group B.V.,Mars, Incorporated,Mondelez International, Inc.,The Hershey Company,August Storck KG.
The candy industry is witnessing growing opportunities in developing healthier candy options with minimal sugar content and incorporation of functional ingredients. Continuous product innovation aimed at different consumer segments also presents potential for market growth.
Technological advancements in confectionery manufacturing such as automation, use of premium chocolates and ingredients, and advanced moulding/shaping equipment are helping candy producers improve production efficiency and offer differentiated products.
Market Drivers
Changing consumer preferences towards healthier options is a key driver for the US candy market. Continuous innovation towards low sugar/calorie candy, sugar free gum and mint products, and use of natural flavors and colors are expanding the market reach. In addition, wide distribution network of leading brands through various retail channels ensures strong product availability, driving sales volumes in the country. Improving economic conditions is also resulting in greater spending ability of consumers on confectionery purchases.
Current Challenges In United States Candy Market:
The US candy market is facing challenges like increasing health awareness among consumers and growing obesity concerns. More people are becoming conscious about the ingredients used in candies and their sugar content. This has posed difficulties for candy makers to come up with healthier options without compromising on taste. Moreover, the number of people opting for sugar-free, low-calorie or all-natural candy products is rising steadily. Companies have to adjust their product formulations accordingly and incur additional research and development costs. Customers today expect extensive flavor variety and novelty in candies. It is becoming hard for brands to keep introducing new and unique flavors regularly at low costs. Food safety issues also act as a deterrent, as any contamination or quality lapses can severely damage a candy brand’s reputation.
SWOT Analysis
Strength: Well established brands with strong recognition and loyal customer base. Widescale availability of candies across diverse retail channels.
Weakness: High dependency on sugar and other commodity ingredients leading to fluctuations in raw material prices. Vulnerable to criticisms over excessive sugar consumption and health issues.
Opportunity: Potential for developing healthier candy options targeted at health-conscious consumers. Scope to expand into emerging markets and increase exports.
Threats: Stringent government regulations regarding food safety and labeling. Industry facing pressures to curb artificial ingredients and sugar content. Rising health awareness reducing the overall demand for candies.
In terms of value, the United States Candy Market is concentrated majorly in North America region. Currently, around 87% of the total US candy market value comes from North America itself. This is because America has established a large indigenous candy manufacturing industry for over a century now. States like California, New York and Pennsylvania are significant producers within North America.
The Asia Pacific region, excluding Japan, represents the fastest growing geographical segment for the US candy market. This is owing to rising incomes, expanding sweet brands and the growth in modern retail channels across developing Asian countries like India and China. With their large and young populations, Asia Pacific countries are presumed to develop a strong sweet snacks culture over the long term, propelling significant exports and investment from American candy companies. However, cultural and taste preference variations across Asia present both challenges and opportunities as well. On the whole, emerging markets offer attractive prospects for future expansion of US candy players.
What Are The Key Data Covered In This United States Candy Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United States Candy Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the United States Candy Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United States Candy Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United States Candy Market vendors
FAQ’s
Q.1 What are the main factors influencing the United States Candy Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top United States Candy Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the United States Candy Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile