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. Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. The other end-use segment includes small-sized grocery stores and specialty stores. Amidst the global pandemic crisis and the indefinite lockdown across nations, the consumer food & beverage industry first witnessed high demand for household staples, healthy food items, and consumables with longer shelf lives. Candies that are sweet and chocolate free are less prone to health hazards. There are different flavored candies in varied shapes available in the market. But people have ventured out more in recent months, allowing sales at movie theaters and vending machines to recover some, said Hershey’s Chief Executive Michele Buck. Snickers, the category’s top-selling candy bar, according to IRI’s data, pulled in $444.39 million over the reporting period, commanding just over 10 percent of the market share. Product innovation also aimed at addressing the growing health issues pertaining to candy consumption, such as diabetes. Amazon is responsible for 50% of all US eCommerce…BEEP! Hersey also hold a leading share of the overall candy market in the U.S, responsible for 30% of total sales. Rangpur Dairy & Food Products Limited is a domestic player that manufactures milk candies. The owner of Reese’s and KitKat has been under pressure as social distancing has resulted in fewer parties and convenience-stores trips to buy candy and snacks. The global candy market has been segmented on the basis of the presence of chocolate. Grocery stores comprise a limited number of products, thus, pose to be disadvantageous as compared to the supermarkets. Mars is the leading global confectionery company. online dashboard trial. Get your queries resolved from an industry expert. According to the 2015 Global Powers of Retailing report, 76 of the largest retailing companies in the world are based in the U.S and an estimated two-thirds of the U.S. GDP comes from retail consumption. This report forecasts revenue growth at global, regional, & country levels and provides an analysis of the latest trends and opportunities in each of the sub-segments from 2014 to 2025. A growing number of new product developments has contributed to the high growth of the candy market. Chocolate flavor has many health benefits, such as it helps in reducing mortality rates, and also aids in treating diseases like bronchitis and depression. (Statista) #3. “As we saw consumers shift to more at-home behaviors, we very early on shifted the focus in our portfolio,” Ms. Buck said on a conference call Friday. The primary factors that motivate people to buy products from online stores are the availability of discounted price and lucrative offers, thereby, facilitating a hassle-free shopping experience. North America’s fondness for licorice shows no signs of slowing. This preferably includes preserves, pastries, and ice creams. Market Definition: Global Candy Market. Global Candy Market: Overview . Candy Industry Magazine is a business-to-business publication that covers the global confectionery industry from manufacturing to retailing. NCA’s Sweet Insights: State of Treating 2020 report explores category performance data, primary consumer research and thoughtful analysis of the trends essential for confectionery manufacturers and retailers to understand the confectionery market and our unique value proposition. COVID-19. However, these stores have high priced products as compared to other stores. In addition, dark chocolates possess huge health benefits due to the cocoa content. Market Street Candy Dress. Please fill out the form below for a free PDF report sample & The key players are focusing on strategic initiatives such as collaborations/partnerships, product innovations, and geographic expansions. These stores are mainly opted due to the fact that they remain open 24 hours. Increasing consumer spending and growing urbanization have led to a huge growth of the market in the U.S. #2. Increasing urbanization and rising product innovations are the major factor for the growth. Hershey said it also benefited from using Covid-19 case counts to predict where demand would spike as more people stayed home, and sent more chocolate bars there. Our support available to help you 24 hours a day, five days a week. Confections refer to food items that are rich in sugar and carbohydrates. The research study is an outcome of e Chocolate candies are highly preferred by all age groups. The global Vitamin C Candy market has different types of … Privacy Policy. In May 2017, Ferrara Candy Company announced the grand re-opening of its candy store in the U.S. The global confectionery market was valued at $210.3 billion in 2019, and is projected to reach $270.5 billion by 2027, registering a CAGR of 3.6%. Companies are also engaged in new product launch, which is further boosting the market demand for candies. According to the U.S. Census Bureau, in the year 2016, children aged 0-17 years accounted for 73.6 million populations. Also, they offer a lesser number of varied products as compared to other stores. The company’s store on the Las Vegas Strip in Nevada. Hershey’s third-quarter profit and revenue topped analysts’ expectations. Candy production is mainly a seasonal business, with the majority of those involved in the market normally doubling their staffs during the winter months. 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. Share: Popping Candy Market. Candy Production in Canada industry outlook (2019-2024) poll Average industry growth 2019-2024: x.x lock Purchase this report or a membership to unlock the average company profit margin for this industry. Thus, this alternative improves the cognizance of the customers, allowing them to enhance their awareness levels, thus, creating lucrative opportunities for this market segment. Some of them include chewy candies, gummy candies, tart candies, and other dairy-free candies. 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. The global jellies and gummies market size was valued at USD 13.9 billion in 2018 and is expected to expand at a CAGR of 3.5% from 2019 to 2025. Report ID: 80546 Published Date: Nov 2020 No. Hershey Co. said it gained ground in the U.S. candy market as it adapted to changing consumer behavior during the coronavirus pandemic, in part by making more chocolate bars for s’mores. The market growth is attributed to growing vegan population, booming candy industry, rising awareness regarding the side effects of chocolate consumption, and increasing consumer spending. U.S. confectionery market share 2018, by company Published by Jan Conway, Apr 3, 2020 With a share of roughly 30 percent in 2018, Hershey led the U.S. confectionery market. With a wide range of products being offered at online websites, individuals are more aware of the new products launched in the market. Owing to the rapidly developing nature of the market, launching a new product has become the most important strategy, among all. LP INFORMATION recently released a research report on the Cotton Candy Machine analysis, which studies the Cotton Candy Machine industry coverage, current market competitive status, and market outlook and forecast by 2025.. A popular research firm sounded the buzzer on Amazon’s market share earlier this year only to slash its estimate from 50% to 38%. Leading players of the global Sugar Candy market are analyzed taking into account their market share, recent developments, new product launches, partnerships, mergers … Convenience stores held significant shares in 2016. We stand by our report quality. of Pages: 202 Base Year for Estimate: 2019 Format: Electronic (PDF) Ask For Discount Need Customization? 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. 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), End-Use Outlook (Revenue, USD Billion; 2014 - 2025), We never share your personal data. The average household will spend $44 just to purchase Halloween candy. On the other hand, specialty stores offer only a single product category or related products. WiseGuyRerports.com Presents “Global Vitamin C Candy Market Insights and Forecast to 2026” New Document to its Studies Database The global Vitamin C Candy market is classified into different sectors to ensure that the consumers get different options while choosing the services or products offered by the key players. The lucrative target population for the candy market is the children and the young population. Growing urbanization is also a significant factor driving the growth of the candy market in the country. These stores also offer a wide variety of candies for the customers to choose from a single store. Manufacturers also indulge in innovative marketing strategies to lure their target customers as children are considered as a very influential group of population. Peppermint candies aid in digestion and treatment of upset stomach. Research studies have shown that repeated chewing gum helps in brain stimulation and increases self-control and attention, thereby, minimizing stress. Request A Callback Download Sample. The global candy market was valued at USD 79.35 billion in 2018 and is further expected to grow at a CAGR of 3.5% during the period 2018-2023. The growing availability of different varieties of candies, both chocolate as well as non-chocolate candies has led to their high demand among the children. Copyright © 2020 Grand View Research, Inc. All rights reserved. Candy and snack food market segments for pouches include: savory snacks (e.g., cheese and vegetable puffs, popped popcorn, potato chips, pretzels, tortilla and corn chips, vegetable chips) candy and confections, including chocolate and non-chocolate candy, chewing gum, and mints No other consumer products enjoy the universal appeal of chocolate and candy. Ms. Buck said she expects Hershey to continue gaining market share through next spring. Customers prefer such stores depending on the product they tend to buy. Get detailed analysis of COVID-19 impact on the Popping Candy Market Global “Cotton Candy Machine Market 2020-2025” Research Report categorizes the global Cotton Candy Machine by key players, product type, applications and … The food and beverages industry identifies candy as a part of the confectionary industry and uses the term confectionary and candy interchangeably. Global Candy Market Size, Market Share and Candy Market Growth & Future 2024 By Product Type (Sugar Candy, Chocolate Candy & Gum Candy), By Distribution Channel , By Region, Competition, Forecast & Opportunities, 2024 We have also focused on SWOT, PESTLE, and Porter’s Five Forces analyses of the global Sugar Candy market. This is due to their huge benefits in reducing stress. Design an exclusive study to serve your research needs. Based on the nature of the market and virtually no entry barriers, candy market globally is very competitive with a huge number of domestic companies capturing minimal share in the market. BBX Capital acquired largest specialty candy retailer IT’SUGAR for USD 57 million. It aids in proper blood flow in the body and facilitates overall blood vessel functionality. On the basis of end use, the market is segmented into super/hypermarkets, convenience stores, online stores, and others. Will the coronavirus pandemic lead to long-term changes in … The companies are focusing more on altering their supply chains in order to reinforce their online presence and delivery measures, in an attempt to adapt to the present business environment. Hershey Grabs Candy Market Share Chocolate sales jumped nearly 10% at stores during company’s latest quarter . Retail sales of Hershey’s chocolate brands jumped nearly 10% in its latest quarter. Research Corridor new comprehensive study on candy market offers in-depth analysis on industry trends, market size, competitive analysis and market forecast - 2020 to 2027. The United States candy market is expected to reach $35 billion by 2016. With a wide portfolio of well-known brands, these companies are dominating the candy market. For instance, Big Red is a cinnamon-flavored gum manufactured by Mars Incorporated. Candy Industry | B2B for the global confectionery industry This website requires certain cookies to work and uses other cookies to help you have the best experience. Please wait while we are processing your request... 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