The U.S. candy market is
expected to reach a value of USD 19.6 billion by 2025, according to a new
report by Grand View Research, Inc. Growing consumer expenditure and disposable
income and increasing trend towards urbanization is driving the growth of the
candy market in the U.S. Candies and chocolates are generating huge amount of
sales in the U.S. targeting the sweet tooth among the people. Huge revenue
generation of candies is primarily due to their consumption during holidays
like Halloween and Easter accounting for around USD 3.5 billion sales.
Currently, around 82% of the population in
North America are living in the urban areas with high concentration in mid and
large-sized cities. Such huge trend towards urbanization has led to growing
awareness for new products and their easy availability. This is due to the fact
that giant players have a significant hold of the candy market in the urban
areas.
Children with inclination towards a sweet
tooth is a major factor driving the demand of the products. Hence, this group
of population is a huge contributor towards revenue generation of the market.
Moreover, key players are creating appealing advertisements targeting the
children and young population, thus, attracting them towards impulse purchase.
Teenagers are also a significant target population for candies, especially
chocolate candies due to high preference for the chocolate flavor.
Increase in product innovation and new product
development has led to high growth of the market. Sugar-free candies
manufactured by the key players is further expected to boost the market demand
for the diabetic population. Companies are also engaged in new product launch,
which is further boosting the demand for candies. For instance, in March 2017,
Hershey’s Reese’s brand
launched Reese’s Crunchy
Cookie Cup. In May 2016, DeMet’s Candy Company launched a new product, TURTLES
Double Chocolate.
Full research report on U.S. candy market analysis:
https://www.grandviewresearch.com/industry-analysis/us-candy-market
Further Key Findings From the Study Suggest:
·
Chocolate candies dominated the market in
2016 and is also expected to show high CAGR over the forecast period due to the
numerous health benefits associated with these products
·
Non-chocolate candies held significant
market share in 2016 owing to a wide variety of flavors as well as sugar-free
candies available in the market
·
Gummies contributed significantly in the
U.S. candy market due to its huge customer preference and availability of
different shaped gummies
·
Based on the end-use segment, super/hyper
markets dominated the market in 2016 due to its huge storage capacity and
organized aisle format leading to a convenient shopping
·
Online stores segment is projected to
witness lucrative CAGR over the forecast period due to the lucrative offers and
discounts available
·
Few key companies are Ferrara Candy Co.;
The Hershey Company; Mondeléz International Inc.; Nestlé SA; and DeMet’s Candy
Co.
View more reports of this category by Grand View Research
at: https://www.grandviewresearch.com/industry/consumer-goods
Grand View Research has segmented the U.S.
candy market on the basis of product, and end use:
U.S. Candy Product Outlook (Revenue, USD Billion;
2014 - 2025)
·
Chocolate Candy
·
Non-chocolate Candy
o Caramel candies
o Gummies
o Hard Candies
o Chewing Gums
o Others
U.S. Candy End-Use Outlook (Revenue, USD Billion;
2014 - 2025)
·
Super/Hyper Markets
·
Convenience Stores
·
Online Stores
·
Others
Access
press release by Grand View Research: https://www.grandviewresearch.com/press-release/us-candy-market-analysis
About
Grand View Research
Grand View
Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
