USD 15.35 billion
U.S. Candy Market Size, Share, Growth Analysis, By Product type(sugar candy, chocolate candy), By Region(South, West) - Industry Forecast 2024-2031
Report ID:
SQMIC30I2390 |
Region:
Country |
Published Date: February, 2024
Pages:
157
|
Tables:
64 |
Figures:
60
U.S. Candy Market Insights
U.S. Candy Market size was valued at USD 15.35 billion in 2019 and is poised to grow from USD 15.94 billion in 2023 to USD 20.72 billion by 2031, growing at a CAGR of 3.82% in the forecast period (2024-2031).
Confectionery sweet food product is another name for candy. Certain minerals and vitamins in candies provide protein value that can aid in bodybuilding. Consumers with a busy schedule frequently choose candies as a small snack because they take less time to consume and can be enjoyed during breaks.
Chocolate candies are extremely popular among people of all ages. Chocolate flavour has several health benefits, including lowering mortality rates and treating diseases such as depression and bronchitis. Furthermore, because of the cocoa content, dark chocolates have numerous health benefits. It aids in the maintenance of blood flow in the body and improves overall blood vessel functionality.
The US candy market will benefit from the continuously growing development and increasing spending capacity of consumers. The widely distributed candies are made for both children and the young population. Consumer preferences, population growth, and inclinations drive candy demand. In terms of manufacturing and purchasing economies, massive multinational corporations have a significant advantage over medium-sized businesses. Candy with fewer sugar additives can provide significant revenue generation opportunities for major candy market players.
U.S. Candy Market is poised to grow at a sustainable CAGR for the next forecast period.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
chocolate candy
Fastest Growth
chocolate candy
Growth Rate
3.82% CAGR
US Candy Market 2021-2028 ($ Bn)
Country Share for US - 2021 (%)
US Candy Market Size By type 2021-2028 ($ Bn)
US Candy Market Size By type 2021-2028 (%)
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U.S. Candy Market Segmental Analysis
The US candy market is segmented based on type, and region. Based on the type, the market is sub-segmented into sugar candy, chocolate candy, and gum candy. Based on the region it is divided into the South, West, Mid-West, and North-East.
U.S. Candy Market Analysis by Product Type
The sugar candy, chocolate candy, and gum candy segments of the US candy market are separated by product. Since people in the country have started to limit their consumption of confectionery by treating themselves to bite-sized chocolate sweets, the chocolate candy is predicted to have the fastest rising market share among these. Candy made of dark chocolate fits in nicely with the nation's current "healthy eating" craze. Due to research showing that dark chocolate has a number of health benefits, consumers are choosing premium dark chocolate sweets to enjoy a guilt-free experience.
US Candy Market By type 2021 (%), 2019 (%)
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U.S. Candy Market Regional Insights
The candy market in the United States is divided into four regions: the South, West, Mid-West, and North-East. Based on sales generated and higher demand for candies in these regions, the West is the fastest growing contributor to the candy market, particularly Utah State. People are becoming more urbanised and aware of new things and their accessibility as they become more urbanised. This is because large corporations control a large portion of the confectionery market in urban areas.
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U.S. Candy Market Dynamics
U.S. Candy Market Drivers
Candy being Number one Preference of Sweet Craving will Boost its Demand in Coming Years
- The candy market is anticipated to develop as a result of the rising demand for chocolate candies. The market has grown as a result of the widespread popularity of chocolate candies, not just among children but also adults. From Halloween to Diwali and Eid, chocolate chocolates are a staple dessert during many celebrations. Thus, it has been determined that rising consumption of chocolate candies for various celebrations and events will help to the growth and expansion of the candy industry. In the US, children are known to prefer Halloween candies. Additionally, the introduction of fresh chocolate sweets has increased demand for candies.
- A growing number of new product developments have contributed to the candy market's rapid growth. There are various flavours and shapes of candies available on the market. Big Red, for example, is a cinnamon-flavoured gum produced by Mars Incorporated. Companies are also launching new products, which is increasing market demand for candies. Product development was also aimed at addressing the growing health concerns associated with candy consumption, such as diabetes. This has prompted the market's major players to develop sugar-free candies aimed at the diabetic population while also lowering the risk of potential diabetes among their customers.
U.S. Candy Market Restraints
Various Health Risks associated with Consuming Candy to Hinder Market Growth
- Additionally, the sweets have been linked to a number of health problems, including mouth infections and obesity. Children's tooth infections are particularly known to be brought on by chocolate, thus it is recommended that you only eat a small amount of it. High chocolate and candy consumption among adults is known to contribute to obesity.
- One of the main causes of weight gain among consumers is recognised to be the high intake of chocolate sweets. Because it contains a lot of sugar, fat, and calories, eating a lot of dark chocolate has been linked to weight gain and obesity in consumers.
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U.S. Candy Market Competitive Landscape
Based on the nature of the market, the US candy market is highly competitive, with a large number of domestic companies capturing a significant share of the market. Among the major players are Perfetti Van Melle Group BV, Mondelez International Inc., Mars Incorporated, and The Hershey Company. Because of the rapidly changing nature of the market, introducing a new product has become one of the most important strategies for gaining a competitive advantage. Market participants have also adopted expansion as a key strategy, followed by mergers and acquisitions.
U.S. Candy Market Top Player's Company Profiles
- Mars, Incorporated
- The Hershey Company
U.S. Candy Market Recent Developments
- In May 2022, Push Pop Gummy Pop-its were introduced by Bazooka Candy Brands. This year's Sweet & Snacks Expo in Chicago will feature the newest gummy innovation. Push Pop Gummy Pop-its, which debuted under the Push Pop brand, combine gummies with an interactive, refillable container.
- In May 2022, Bazooka Candy Brands launched Push Pop Gummy Pop-its. The new Push Pop Gummy Pop was launched in three flavours, including strawberry, blue raspberry, berry blast, and watermelon.
- In March 2022, HARIBO unveiled a line-up of Easter treats and claimed that it is sure to please any fan of gummy candy. The company announced that it was bringing back 'previous favourites', along with debuting two new products. The launched products include Jelly Bunnies and Chick 'n' Mix.
U.S. Candy Key Market Trends
- Sugar-free sweets have seen a rise in popularity recently due to rising health consciousness and consumer demand for non-/low-sugar chocolates and confectionary items. The International Diabetes Federation reports that there are currently 537 million people (20-79 years old) who have diabetes, which is the primary cause of the rise in demand for sugar-free sweets among the general public.
- Due to recent changes in candy flavours, their look, and their mouthfeel, sugar-free sweets are experiencing rapid growth in the market. The bulk of producers are concentrating on developing products that are consistent with the global organic food culture. Additionally, organic, vegan, GMO-free, and kosher food colours, sweeteners, and other ingredients are being used to make sugar-free candies, which are likely to contribute to the growth of the category due to the ongoing emphasis on clean-labelled products and stricter government regulations regarding the amount of sugar content in food products.
U.S. Candy Market SkyQuest Analysis
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our US candy market analysis, the market is expected to grow at a significant rate over the forecast period, owing to factors such as constant product innovations and aggressive branding to persuade consumers, as well as increased demand for candy products, particularly during festive seasons, as candy products are identified as seasonal products and are associated with festivities.
The market has also piqued the interest of investors, and it has become a target for investments by a number of multinational corporations. The variety of candies available has resulted in an increase in candy demand worldwide. The rise in consumer spending power, as well as rapid urbanisation and industrialization, particularly in developing countries, are all factors contributing to the growth of the candy market. With an increasing population comes an increase in the target consumer base. The increasing occurrence of dental problems due to the consumption of candies with high sugar content, the volatile nature of raw material prices such as sugar and cocoa, and rising health concerns are the factors restraining the market's growth. Launching low-sugar candies with nutritional value is an excellent opportunity to accelerate the development of the market.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 15.35 billion |
| Market size value in 2031 | USD 20.72 billion |
| Growth Rate | 3.82% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on U.S. Candy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on U.S. Candy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the U.S. Candy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the U.S. Candy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Candy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the U.S. Candy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
U.S. Candy Market Report Snapshots
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