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North America Confectionery Market Size, Share, Trends: By Type: Chocolate, Non-Chocolate, Gum and Mints; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand, Key Indicators for Price; Value Chain Analysis; Competitive Landscape; Key Trends and Developments in the Market; 2024-2032
North America Confectionery Market Outlook
The North America confectionery market is being driven by the growing USA market. The USA confectionery industry was worth nearly USD 28.2 billion in 2023.
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The US market is expected to grow at a steady pace in the forecast period of 2024-2032, growing at a CAGR of 1.9%. The industry is projected to attain a value of almost USD 28.29 billion in 2026.
While the USA confectionery industry constitutes of more than 1000 companies, the industry is dominated by The Hershey Company and Mars, Incorporated. The two companies together account for over 60% of the US market. Hershey and Mars, together, are also some of the leading players for non-chocolate products, accounting for more than 30% of the industry. The US gum industry, in particular, is dominated by Wrigley, occupying over half the market share. Wm. Wrigley Jr. Company, the world’s largest chewing gum producer, is a subsidiary of Mars, Incorporated since October 2008. The company was bought out by Mars, Incorporated along with Berkshire Hathaway Incorporated in 2008 in an all-cash deal of USD 23 million.
In Canada, the other major market in North America, Nestle Canada Inc. and The Hershey Company lead the market, accounting for a third of the chocolate market, together. Hershey includes the Hershey brand along with Brookside Foods Ltd. and Allan Candy. While Hershey acquired Brookside Foods Ltd., the Canadian confectionery brand, in December 2011, it acquired all the outstanding shares of Allan Candy in October 2014 for cash consideration of almost USD 28 million. Nestle, meanwhile, is also a major player in the boxed chocolate industry in Canada along with Ferrero and Lindt. The three companies together represent over 60% of the box chocolate market in Canada.
Properties and Applications
Confectioneries generally include food products rich in sugar and carbohydrates like candies, chocolates, chewing gums, and others. However, the sector is expanding to include sugar-free or low sugar versions of the products traditionally associated with confectionery. Confectioneries can be broadly categorised as:
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- Chocolate
- White
- Milk
- Dark
- Non-Chocolate
- Gum and Mints
The report by EMR gives an in-depth analysis of the various regional markets in the North America confectionery market like the US and Canada.
Market Analysis
The North America confectionery market is being driven by the expanding distribution channels. Both online platforms and retail markets like drug and grocery stores, supermarkets, and hypermarkets are expected to grow further. With consumers becoming more health conscious, especially, as a result of the rising number of cases of obesity and diabetes, the manufacturers of confectioneries are increasingly investing in the development of reduced sugar or sugar-free products. The trend towards health and wellness is also boosting the sales of dark chocolate, thus, propelling the overall North America confectionery market forward. Dark chocolates contain numerous minerals and fibre. It also acts as an antioxidant and may contribute to the reduction of heart disease risk.
The growing high-income class along with a solid growth in GDP in the US, will also aid the North America confectionery market. The rise in disposable incomes is leading to an increase in the consumption of premium confectionery products. Also, the trend of gifting premium chocolate products is growing in the country. Thus, premium products are projected to witness a healthy growth in the forecast period and is one of the fastest growing segments in the chocolate market. While fair trade chocolates have a small market share, they are expected to grow in the coming years due to the rising consumer awareness about the sourcing of the products they are consuming. The increasing demand for premium as well as healthy products is leading to the growth of the confectionery products containing organic ingredients.
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Competitive Landscape
January 2018- Nestlé USA’s confectionery business was acquired by Ferrero for USD 2.8 billion in cash in January of 2018.
The report gives an in-depth look into the following key players in the North America confectionery market, covering their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:
- The Hershey Company
- Nestle S.A (Nestle USA)
- Mars Inc.
- Ferrero SpA
- Mondelez International, Inc.
- Chocoladefabriken Lindt & Sprüngli AG
The EMR report gives an in-depth look into the North America confectionery market through an analysis of the Porter’s Five Forces model. The report provides a SWOT and cost analysis. An overview of the global and other regional markets like the Asia Pacific, Latin America, Europe, and the Middle East and Africa has also been provided by the report.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment
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| Breakup by Type |
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| Breakup by Region |
|
| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 North America
7 Opportunities and Challenges in the Market
8 North America Confectionery Market Analysis
8.1 Key Industry Highlights
8.2 North America Confectionery Historical Market (2018-2023)
8.3 North America Confectionery Market Forecast (2024-2032)
8.4 North America Confectionery Market by Type
8.4.1 Chocolate
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.1.3 Chocolate by Type
8.4.1.3.1 White
8.4.1.3.2 Milk
8.4.1.3.3 Dark
8.4.2 Non-Chocolate
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Gums & Mints
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.5 North America Confectionery Market by Country
8.5.1 United States of America
8.5.2 Canada
9 Market Dynamics
9.1 SWOT Analysis
9.1.1 Strengths
9.1.2 Weaknesses
9.1.3 Opportunities
9.1.4 Threats
9.2 Porter’s Five Forces Analysis
9.2.1 Supplier’s Power
9.2.2 Buyer’s Power
9.2.3 Threat of New Entrants
9.2.4 Degree of Rivalry
9.2.5 Threat of Substitutes
9.3 Key Indicators for Demand
9.4 Key Indicators for Price
10 Value Chain Analysis
11 North America Confectionery Price Analysis
11.1 United States
11.1.1 Chocolate Confectionery Historical Price Trends (2018-2023) & Forecast (2024-2032)
11.1.2 Non-Chocolate Confectionery Historical Price Trends (2018-2023) & Forecast (2024-2032)
11.1.3 Gums and Mints Historical Price Trends (2018-2023) & Forecast (2024-2032)
11.2 Canada
11.2.1 Chocolate Confectionery Historical Price Trends (2018-2023) & Forecast (2024-2032)
11.2.2 Non-Chocolate Confectionery Historical Price Trends (2018-2023) & Forecast (2024-2032)
11.2.3 Gums and Mints Historical Price Trends (2018-2023) & Forecast (2024-2032)
12 Global Trade Data Analysis
12.1 Global Trade Analysis (HS Code: 1704)
12.2 Major Exporting Countries
12.2.1 By Value
12.2.2 By Volume
12.3 Major Importing Countries
12.3.1 By Value
12.3.2 By Volume
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 The Hershey Company
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Nestle S.A (Nestle USA)
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Mars Inc.
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 Ferrero spa
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Mondelez International
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Chocoladefabriken Lindt & Sprüngli AG
13.2.6.1 Company Overview
13.2.6.2 Product Portfolio
13.2.6.3 Demographic Reach and Achievements
13.2.6.4 Certifications
13.2.7 Others
14 Key Trends and Developments in the Market
List of Key Figures and Tables
1. North America Confectionery Market: Key Industry Highlights, 2018 and 2032
2. North America Confectionery Historical Market: Breakup by Type (USD Million), 2018-2023
3. North America Confectionery Market Forecast: Breakup by Type (USD Million), 2024-2032
4. North America Confectionery Historical Market: Breakup by Country (USD Million), 2018-2023
5. North America Confectionery Market Forecast: Breakup by Country (USD Million), 2024-2032
6. United States of America Chocolate Confectionery Historical Price Trends and Forecast 2018-2028
7. United States of America Non-Chocolate Confectionery Historical Price Trends and Forecast 2018-2028
8. United States of America Gums and Mints Historical Price Trends and Forecast 2018-2028
9. Canada Chocolate Confectionery Historical Price Trends and Forecast 2018-2028
10. Canada Non-Chocolate Confectionery Historical Price Trends and Forecast 2018-2028
11. Canada Gums and Mints Historical Price Trends and Forecast 2018-2028
12. Major Exporting Countries by Value
13. Major Importing Countries by Value
14. Major Exporting Countries by Volume
15. Major Importing Countries by Volume
16. North America Confectionery Market Structure
Key Questions Answered in the Report
The North America confectionery market was driven by the rising confectionery market in the United States, which attained a value of nearly USD 28.2 billion in 2023.
The major drivers of the market include rising population, increased product variety, and the expanding distribution channels and rise in disposable incomes.
The growing high-income class, along with a solid growth in GDP in the United States, is expected to be a key trend in the market.
The major regional markets in North America include the United States and Canada.
The types of confectionery available in the market include chocolate, non-chocolate, gum and mints. Chocolate can be further divided into white, milk, and dark.
The key players in this market include The Hershey Company, Nestle S.A (Nestle USA), Ferrero SpA, Mars Inc., Mondelez International, Inc., and Chocoladefabriken Lindt & Sprüngli AG, among others.
Analyst Review
The North America confectionery market is being driven by the growing USA confectionary market, which was worth nearly USD 28.2 billion in 2023, driven by the expanding distribution channels and rise in disposable incomes. Aided by the growing high-income class along with a solid growth in GDP in the United States, the market is expected to witness a further growth in the forecast period of 2024-2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on the type, the North America confectionery market market can be segmented into chocolate, non-chocolate, and gum and mints. Chocolate can be further divided into white, milk, and dark. The regional markets for the industry can be divided into United States and Canada.The key players in the above industry include The Hershey Company, Nestle S.A (Nestle USA), Ferrero SpA, Mars Inc., Mondelez International, Inc., Chocoladefabriken Lindt & Sprüngli AG, Others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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