United States (USA) Candy Market Size & Share, Sector / Industry Report & Analysis, 2018-2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: United States (USA) Candy Market


U.S. candy market was valued at over USD 12.73 billion in 2016 and is expected to witness an attractive growth over the forecast period. Increasing consumer spending and growing trend towards urbanization has led to huge growth of the market in the U.S. In this country, consumer expenditure has increased from USD 11,852.96 billion in the second quarter to USD 11,916.58 billion in the third quarter of 2017. With rising consumer spending, there arises huge demand for consumer goods. Growing urbanization is also a significant factor driving the growth of candy market in the country. According to the International Organization for Migration in 2015, every week around 3 million people are migrating to cities. Hence, the aforementioned factors are driving the growth of the market.

  
The lucrative target population for candy market is the children and young population. According to the U.S. Census Bureau, in the year 2016, children aged 0-17 years accounted for 73.6 million populations. Growing availability of different varieties of candies, both chocolate as well as non-chocolate candies has led to their high demand among the children. Manufacturers also indulge into innovative marketing strategies to lure their target customers as children are considered as a very influential group of population.
Growing number of new product developments has contributed towards high growth of the candy market. There are different flavored candies in varied shapes available in the market. For instance, Big Red is a cinnamon flavored gum manufactured by Mars Incorporated. Companies are also engaged in new product launch, which is further boosting the market demand for candies. Product innovation also aimed at addressing the growing health issues pertaining to candy consumption, such as diabetes. This has led the key players of the market to come up with sugar-free candies targeting the diabetic population and also lowering the risk for potential diabetes among their customers.

Market Segmentation, Outlook & Viewpoint: United States (USA) Candy Market

 
This report forecasts revenue growth at global, regional, & country levels and provides an analysis on the latest trends and opportunities in each of the sub segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the U.S. candy market on the basis of product, and end use:

Product Outlook (Revenue, USD Billion; 2014 - 2025)

Chocolate Candy

Non-chocolate Candy

Caramel candies

Gummies

Hard Candies

Chewing Gums

Others


End-Use Outlook (Revenue, USD Billion; 2014 - 2025)

Super /Hyper Markets

Convenience Stores

Online Stores

Others

Key Players, Recent Developments & Regional Insights: United States (USA) Candy Market


On the basis of product type, chocolate candies dominated the market in 2016 owing to the health benefits associated with it. Chocolate candies are highly preferred by all age groups. Chocolate flavor has many health benefits, such as it helps in reducing mortality rates, and also aids in treating diseases like bronchitis and depression. In addition, dark chocolates possess huge health benefits due to the cocoa content. It aids in proper blood flow in the body and facilitates overall blood vessel functionality.
Non-chocolate candies held significant revenue of the market in 2016 due to the variety of flavors available in the form of hard candies, chewing gums, lollipops, gummies, caramel candies, jelly candies, and many others. Candies that are sweet and chocolate free are less prone to health hazards. Some of them include chewy candies, gummy candies, tart candies and other dairy free candies
Chewing gums are expected to show lucrative CAGR over the forecast period. This is due to their huge benefits in reducing stress. Research studies have shown that repeated chewing gum helps in brain stimulation and increases self-control and attention, thereby, minimizing stress. Peppermint candies aid in digestion and treat upset stomach.
According to CalorieKing.com, caramel candies contain around 7.8g of carbohydrates and 0.5g of protein, which provide energy to the body. Based on The American Heart Association, saturated fats block the arteries and are recommended to be a maximum of 7% of the overall daily calories. A caramel candy contains 0.3g of saturated fat. Thus, this segment generated significant revenue in 2016.
End-use Insights
On the basis of end use, the market is segmented into super/hyper markets, convenience stores, online stores, and others. In 2016, super/hyper markets held the largest market share owing to huge penetration of such stores in the U.S. These stores also offer a wide variety of candies for the customers to choose from a single store.
With a wide range of products being offered at online websites, individuals are more aware of the new products launched in the market. Thus, this alternative improves the cognizance of the customers, allowing them to enhance their awareness levels, thus, creating lucrative opportunities for this market segment. The primary factors that motivate people to buy products from online stores are availability of discounted price and lucrative offers, thereby, facilitating a hassle-free shopping experience.

  
Convenience stores held significant shares in 2016. These stores are smaller in size as compared to the super markets. These stores are mainly opted due to the fact that they remain open 24 hours. However, these stores have high priced products as compared to other stores. Also, they offer lesser number of varied products as compared to other stores.
The other end use segment includes small sized grocery stores and specialty stores. Grocery stores comprise limited number of products, thus, pose to be disadvantageous as compared to the super markets. On the other hand, specialty stores offer only a single product category or related products. Customers prefer such stores depending on the product they tend to buy.
U.S. Candy Market Share Insight
Some of the key companies of the market include The Hershey Company; Ferrara Candy Co.; Mars Incorporated; Mondeléz International Inc.; DeMet’s Candy Co.; and Nestlé SA. With a wide portfolio of well-known brands, these companies are dominating the candy market.
The key players are focusing on strategic initiatives such as collaborations/partnerships, product innovations, and geographic expansions. For instance, In March 2017, Hershey singed a five-year extended agreement with Turner Sports, CBS Sports, and the NCAA in order to be their official confectionery partner. In May 2017, Ferrara Candy Company announced the grand re-opening of its candy store in the U.S. In May 2016, DeMet’s Candy Company launched a new product, TURTLES Double Chocolate.

Key Insights Covered: Global United States (USA) Candy Market
1.  Market size (sales, revenue and growth rate) of United States (USA) Candy industry.
2. Global major manufacturers' operating situation (sales, revenue, growth rate and gross margin) of United States (USA) Candy industry.
3. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of United States (USA) Candy industry.
4. Market size (sales, revenue) forecast by regions and countries from 2019 to 2025 of United States (USA) Candy industry.

Research Methodology: United States (USA) Candy Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among others.