U.S. Candy Market Analysis, Size, Share & Trends | 2031 (2024)

U.S. Candy Market size was valued at USD 15.35 billion in 2019 and is poised to grow from USD 15.94 billion in 2023 to USD 20.72 billion by 2031, growing at a CAGR of 3.82% in the forecast period (2024-2031).

Confectionery sweet food product is another name for candy. Certain minerals and vitamins in candies provide protein value that can aid in bodybuilding. Consumers with a busy schedule frequently choose candies as a small snack because they take less time to consume and can be enjoyed during breaks.

Chocolate candies are extremely popular among people of all ages. Chocolate flavour has several health benefits, including lowering mortality rates and treating diseases such as depression and bronchitis. Furthermore, because of the cocoa content, dark chocolates have numerous health benefits. It aids in the maintenance of blood flow in the body and improves overall blood vessel functionality.

The US candy market will benefit from the continuously growing development and increasing spending capacity of consumers. The widely distributed candies are made for both children and the young population. Consumer preferences, population growth, and inclinations drive candy demand. In terms of manufacturing and purchasing economies, massive multinational corporations have a significant advantage over medium-sized businesses. Candy with fewer sugar additives can provide significant revenue generation opportunities for major candy market players.

U.S. Candy Market is poised to grow at a sustainable CAGR for the next forecast period.

Market Snapshot - 2024-2031

The US candy market is segmented based on type, and region. Based on the type, the market is sub-segmented into sugar candy, chocolate candy, and gum candy. Based on the region it is divided into the South, West, Mid-West, and North-East.

U.S. Candy Market Analysis by Product Type

The sugar candy, chocolate candy, and gum candy segments of the US candy market are separated by product. Since people in the country have started to limit their consumption of confectionery by treating themselves to bite-sized chocolate sweets, the chocolate candy is predicted to have the fastest rising market share among these. Candy made of dark chocolate fits in nicely with the nation's current "healthy eating" craze. Due to research showing that dark chocolate has a number of health benefits, consumers are choosing premium dark chocolate sweets to enjoy a guilt-free experience.

U.S. Candy Market Drivers

Candy being Number one Preference of Sweet Craving will Boost its Demand in Coming Years

• The candy market is anticipated to develop as a result of the rising demand for chocolate candies. The market has grown as a result of the widespread popularity of chocolate candies, not just among children but also adults. From Halloween to Diwali and Eid, chocolate chocolates are a staple dessert during many celebrations. Thus, it has been determined that rising consumption of chocolate candies for various celebrations and events will help to the growth and expansion of the candy industry. In the US, children are known to prefer Halloween candies. Additionally, the introduction of fresh chocolate sweets has increased demand for candies.

• A growing number of new product developments have contributed to the candy market's rapid growth. There are various flavours and shapes of candies available on the market. Big Red, for example, is a cinnamon-flavoured gum produced by Mars Incorporated. Companies are also launching new products, which is increasing market demand for candies. Product development was also aimed at addressing the growing health concerns associated with candy consumption, such as diabetes. This has prompted the market's major players to develop sugar-free candies aimed at the diabetic population while also lowering the risk of potential diabetes among their customers.

U.S. Candy Market Restraints

Various Health Risks associated with Consuming Candy to Hinder Market Growth

• Additionally, the sweets have been linked to a number of health problems, including mouth infections and obesity. Children's tooth infections are particularly known to be brought on by chocolate, thus it is recommended that you only eat a small amount of it. High chocolate and candy consumption among adults is known to contribute to obesity.

• One of the main causes of weight gain among consumers is recognised to be the high intake of chocolate sweets. Because it contains a lot of sugar, fat, and calories, eating a lot of dark chocolate has been linked to weight gain and obesity in consumers.

Based on the nature of the market, the US candy market is highly competitive, with a large number of domestic companies capturing a significant share of the market. Among the major players are Perfetti Van Melle Group BV, Mondelez International Inc., Mars Incorporated, and The Hershey Company. Because of the rapidly changing nature of the market, introducing a new product has become one of the most important strategies for gaining a competitive advantage. Market participants have also adopted expansion as a key strategy, followed by mergers and acquisitions.

U.S. Candy Market Top Player's Company Profiles

• Nestle SA

• Perfetti Van Melle Group B.V.

• Mondelez International, Inc.

• Mars, Incorporated

• The Hershey Company

U.S. Candy Market Recent Developments

• In May 2022, Push Pop Gummy Pop-its were introduced by Bazooka Candy Brands. This year's Sweet & Snacks Expo in Chicago will feature the newest gummy innovation. Push Pop Gummy Pop-its, which debuted under the Push Pop brand, combine gummies with an interactive, refillable container.

• In May 2022, Bazooka Candy Brands launched Push Pop Gummy Pop-its. The new Push Pop Gummy Pop was launched in three flavours, including strawberry, blue raspberry, berry blast, and watermelon.

• In March 2022, HARIBO unveiled a line-up of Easter treats and claimed that it is sure to please any fan of gummy candy. The company announced that it was bringing back 'previous favourites', along with debuting two new products. The launched products include Jelly Bunnies and Chick 'n' Mix.

• Sugar-free sweets have seen a rise in popularity recently due to rising health consciousness and consumer demand for non-/low-sugar chocolates and confectionary items. The International Diabetes Federation reports that there are currently 537 million people (20-79 years old) who have diabetes, which is the primary cause of the rise in demand for sugar-free sweets among the general public.

• Due to recent changes in candy flavours, their look, and their mouthfeel, sugar-free sweets are experiencing rapid growth in the market. The bulk of producers are concentrating on developing products that are consistent with the global organic food culture. Additionally, organic, vegan, GMO-free, and kosher food colours, sweeteners, and other ingredients are being used to make sugar-free candies, which are likely to contribute to the growth of the category due to the ongoing emphasis on clean-labelled products and stricter government regulations regarding the amount of sugar content in food products.

SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.

According to our US candy market analysis, the market is expected to grow at a significant rate over the forecast period, owing to factors such as constant product innovations and aggressive branding to persuade consumers, as well as increased demand for candy products, particularly during festive seasons, as candy products are identified as seasonal products and are associated with festivities.

The market has also piqued the interest of investors, and it has become a target for investments by a number of multinational corporations. The variety of candies available has resulted in an increase in candy demand worldwide. The rise in consumer spending power, as well as rapid urbanisation and industrialization, particularly in developing countries, are all factors contributing to the growth of the candy market. With an increasing population comes an increase in the target consumer base. The increasing occurrence of dental problems due to the consumption of candies with high sugar content, the volatile nature of raw material prices such as sugar and cocoa, and rising health concerns are the factors restraining the market's growth. Launching low-sugar candies with nutritional value is an excellent opportunity to accelerate the development of the market.

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the U.S. Candy Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the U.S. Candy Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.