Continuously rising population, and innovative varieties added by the candy manufacturers are driving the United States candy market during the forecast period.
According to TechSci Research report, “United States Candy Market By Product (Sugar Candy, Chocolate Candy & Gum Candy), By Distribution Channel (Departmental Stores, Convenience Stores, Supermarkets/Hypermarkets, & Online Sales Channel), By Region, Competition, Forecast & Opportunities, 2026”, the United States candy market grew at approximately USD20 billion in the year 2020 and it is anticipated to reach over USD23 billion by the end of 2026, and its CAGR is expected to grow at more than 3% during the forecast period on account of the rising popularity of candies, increasing disposable income and expenditure and rapid urbanization. Candy has always been considered as a special product within the United States market. Initially this market emerged after the Civil War and now has immense production capacity which is helping the manufacturers to build the market at such a faster pace by producing candies in mass quantities. Candy has become closely associated with religious holidays, such as Hanukkah gelts, Christmas candy canes, and chocolate Easter bunnies, and is considered as “justifiable pleasure”. In 2019, Americans spent an average of USD86 per person on Halloween candy.
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Due to COVID-19, the candy market has seen a downfall in the sales of its products, especially the gums and mint category, but the chocolate candy and sugar candy segment continues to attain strong growth. Due to COVID-19, the industry saw a shift of purchasing preference from directly buying candies from stores to e-commerce platform. More people are ordering groceries online, with options ranging from click-and-collect to home delivery. The Hershey Company reported that e-commerce sales increased by more than 120% in March 2020, compared to 60% in January and February 2020.
The United States candy market is broadly segmented into three main categories that is chocolate candy, sugar candy and gum candy. The sugar candies that dominate the market in the year 2020, and in the upcoming years also it is expected to maintain this position since this segment offers variety of flavors available in the form of hard candies, lollipops, gummies, caramel candies, jelly candies, and many others. Candies like Chewy candies, gummy candies, tart candies, and other dairy-free candies are more favorable now a days as these candies are considered to be sweet and chocolate free which means they are less prone to health hazards.
It is the chocolate candy category that holds a significant market with the fastest growing rate because numerous health benefits are associated with it. Chocolate candies do not have a defined age group, so it is highly preferred by all age group. Dark chocolate also has a lot of health benefits because of the cocoa content. It promotes healthy blood flow throughout the body and improves overall blood vessel functionality. The gum candies market is expected to grow at a stable pace in the forecast period. This is because the gum helps in reducing stress. As various researchers have discovered that chewing gum helps in brain stimulation and increases self-control and attention, because of which it helps in minimizing stress and even the mint flavored candies help in digestion and treatment of upset stomach.
In terms of state wise consumption of candies, it has been analyzed that the Utah state from the western region holds the largest number of factories for candy market in the United States owing to the existence of key players such as The Hershey Company, Sweet Candy Company and other regional players within the region, as well as the large consumer base for the candy market.
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Mars Incorporated, The Hershey Company, Mondelez International, Ferrera Candy Company, Perfetti Van Melle USA Inc., General Mills, Tootsie Roll Industries, Inc., The Topps Company, Inc., See's Candy Shops, Inc., and DeMet's Candy Company are some of the leading players operating in the United States candy market. These companies hold a wide variety of portfolios for candy lovers. This is the major reason because of which these companies are dominating the candy market.
Strategic activities such as collaborations/partnerships, product developments, and geographic expansions are being prioritized by the key players. For example, in March 2017, Hershey signed a five-year extension agreement to be the official confectionary partner of Turner Sports, CBS Sports, and the NCAA. Ferrara Candy Company announced the spectacular re-opening of its candy store in the United States in May 2017.
“The United States candy market is popular among the candy manufacturers, as this market not only holds the largest share within the American region, but it also involves celebrations of various traditional festivals like Halloween and Easter where the sharing candies and chocolates is involved. Moreover, product innovation and changing dynamics are further anticipated to positively influence the growth of the market through 2026.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“United States Candy Market By Product (Sugar Candy, Chocolate Candy & Gum Candy), By Distribution Channel (Departmental Stores, Convenience Stores, Supermarkets/Hypermarkets, & Online Sales Channel), By Region, Competition, Forecast & Opportunities, 2026” has evaluated the future growth potential of the United States candy market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the United States candy market.
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