The United States Candy Market consists of various candies and confections that deliver sweet taste and enjoyment. Popular candy products include chocolate candy, sugar candy, gums and mints, which provide consumers with affordable treats and instant energy. The market offers a variety of candy options from traditional candy bars, caramels, taffy and jelly beans to all-natural and organic candy.
United States Candy Market is estimated to be valued at US$ 24.13 billion in 2024 and is expected to exhibit a CAGR of 3.5% over the forecast period 2024-2031.
Key Takeaways
Key players operating in the United States Candy Market are Perfetti Van Melle Group B.V., Mars, Incorporated, Mondelez International, Inc., The Hershey Company, and August Storck KG. Key players are focusing on innovation and introduction of healthier candy products to attract health conscious consumers. Mars, Incorporated launched lower sugar and natural candy options such as Dove chocolate to expand its market share.
The demand for candy products is growing in the United States due to rising disposable income, urbanization and easy availability through retail stores and e-commerce platforms. Changing consumer preference towards natural, low sugar and organic candy is driving major candy manufacturers to innovate their product portfolio.
Global expansion remains a key trend for major United States candy companies. Mondelez International acquired Candymen and Enjoy Life Foods to expand its global footprint. Companies are also focusing on emerging markets through joint-ventures and acquisitions to gain new customers and boost long term sales.
Market Key Trends
Health consciousness among consumers is a key trend in the United States candy market. candy companies are developing low sugar, protein enriched and all natural candy options to target health conscious population. Mars launched low sugar chocolate Dove while Mondelez International acquired Enjoy Life Foods known for allergen-free candy. Companies are also reducing artificial ingredients and adding functional ingredients to candy to position themselves as healthy snack options. This trend is expected to gain strong traction and accelerate the demand for better-for-you candy products over the forecast period.
Porter’s Analysis
Threat of new entrants: Candy market in US has high barriers for new entrants due to capital requirement for large scale manufacturing.
Bargaining power of buyers: Buyers have low bargaining power due to large number of established brands and high switching costs.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials.
Threat of new substitutes: Products like snacks, chocolate, mints pose threat of substitution.
Competitive rivalry: Intense competition among established players to gain market share.
Geographical Regions
The United States accounts for the largest share of the global candy market in terms of value. States like California, New York and Texas generate the highest revenue for the candy market in the country owing to high disposable incomes and presence of major players.
Fastest Growing Regions
The Western region of the United States is projected to be the fastest growing market for candy during the forecast period. High consumption of confectionery products and increasing population in states like Arizona, Nevada and Washington are driving the market growth in this region.
What Are The Key Data Covered In This United States Candy Market Report?
:- Market CAGR throughout the predicted period
:- Comprehensive information on the aspects that will drive the United States Candy Market’s growth between 2024 and 2031.
:- Accurate calculation of the size of the United States Candy Market and its contribution to the market, with emphasis on the parent market
:- Realistic forecasts of future trends and changes in consumer behaviour
:- United States Candy Market Industry Growth in North America, APAC, Europe, South America, the Middle East, and Africa
:- A complete examination of the market’s competitive landscape, as well as extensive information on vendors
:- Detailed examination of the factors that will impede the expansion of United States Candy Market vendors
FAQ’s
Q.1 What are the main factors influencing the United States Candy Market?
Q.2 Which companies are the major sources in this industry?
Q.3 What are the market’s opportunities, risks, and general structure?
Q.4 Which of the top United States Candy Market companies compare in terms of sales, revenue, and prices?
Q.5 Which businesses serve as the United States Candy Market’s distributors, traders, and dealers?
Q.6 How are market types and applications and deals, revenue, and value explored?
Q.7 What does a business area’s assessment of agreements, income, and value implicate?
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it