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

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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). 

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. 'Nestle SA', 'Perfetti Van Melle Group B.V.', 'Mondelez International, Inc.', 'Mars, Incorporated', 'The Hershey Company'

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.

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.

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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US Candy Market

Product ID: SQMIC30I2390