The new report by Expert Market Research titled, ‘North America Confectionery Market Share, Size, Statistics, Analysis, Report and Forecast 2023-2028’, gives an in-depth analysis of the North America confectionery market, assessing the market based on its segments like types and major countries.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
North America Confectionery Market Size, Share, Price, Growth, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Forecast CAGR (2023-2028): 1.9% (United States Confectionery Market)
The growth of the confectionery market in North America is being driven by the increasing popularity of sugar-rich confectioneries, such as gums, jellies, chocolates, and snack bars, among others. This can be attributed to the availability of vast variety of flavours, shapes, and sizes of the products.
Over the forecast period, the anticipated increase in the demand for confectionery to celebrate special occasions and festivals like Christmas and Easter, is likely to propel the sales of confectioneries. The strong foothold and expansion strategies adopted by the major market players in the United States of America are likely to be the major driving factors growth for the market in the coming years.
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North America Confectionery Industry Definition and Major Segments
Confectionery refers to the snacking item which is high in sugar and carbohydrates. Confectionery food products are made to provide pleasure to the taste buds of the consumers and are usually consumed during special occasions or festivals. Moreover, these products contain food colourings and innovative flavours.
On the basis of type, the market can be segmented into:
- Chocolate
- White
- Milk
- Dark
- Non-Chocolate
- Gums & Mints
The major countries in the North America confectionery market include:
- United States of America
- Canada
North America Confectionery Market Trends
The key trends in the market include the high-level of business opportunities available in the United States and Canada. Along with the government support, the region is favouring the progressive product innovations and research and development activities aimed towards producing high-quality confectionery products with special flavours and ingredients. Moreover, the emerging vegan confectionery products with low sugar and gluten-free content is likely to augment the market growth in the coming years. The rapid expansion of the e-commerce industry in the region is anticipated to boost the reach of confectionery products among the population, along with attracting potential customers.
Key Market Players
The major players in the market are:
- The Hershey Company
- Nestle S.A (Nestle USA)
- Mars Inc.
- Ferrero SpA
- Mondelez International, Inc.
- Chocoladefabriken Lindt & Sprüngli AG
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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