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.
Browse full research report on U.S. Candy Market: 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.
Browse more reports of this category
by Grand View Research: 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
- Caramel
candies
- Gummies
- Hard Candies
- Chewing Gums
- Others
U.S.
Candy End-Use Outlook (Revenue, USD Billion; 2014 - 2025)
- Super/Hyper
Markets
- Convenience
Stores
- Online Stores
- Others
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.
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