United States Confectionery Market witnessed a CAGR of 5.3% during the forecast period 2023-2030 and was valued at USD 33.21 billion in 2022. Drivers influencing the growth of confectionery market in the United States include higher usage of chocolates and candies for gifting purpose, consumption of candies at home as a treat and consumer preference of trying newer varieties of confectionery items. Consumers in the Unites States are more prone to confectionery products especially candies. As per USDA, more than 68% of the candies are consumed at home by the people in the United States.
The United States is the largest importer of confectionery products with 1500KT imports in 2021. Chocolate confectionery accounted of nearly 50% of the total confectionery sales in the country in 2022. For a long period of time, the confectionary sector remained immune to changing health preferences of customers. Consumers have been demanding for healthier and more organic products for a while now, but their focus has largely been on the essential “mealtime” foods like meat, dairy, prepared foods, and bakery, to mention a few. Sales of low-calorie and sugar-free confectionery products have increased owing to increasing health awareness and obesity incidence in the United States.
Affordability of Wide Range of Products in New Flavours
Consumers are always willing to try new products, which offers them variety of options. Candy companies focus on making their products more appealing for kids by offering variety of products in terms of flavour and packaging. As a result, vendors in this industry must invest extensively in research & development to generate new goods with innovative designs, flavours, and packaging.
Preference for Healthier Confectionery
In response to consumer’s demand for healthier snacks, huge corporations have made a significant strategic decision that prioritises convenience, flavour, and healthier snacking. The demand for organic chocolate is increasing because it doesn’t contain any added ingredients that can negatively impact the health of the consumer. As customers are prioritizing their health and wellness, they prefer natural, gluten and sugar free chocolates. Majority of confectionery companies are offering new chocolate flavours in inventive packaging that allows consumers to enjoy a tiny amount while saving the rest for later.
Government Scheme for United States Confectionary
The NCA (National Confectioners Association) is a trade association that promotes chocolate, gums, candy, mints and the companies that manufactures them. As the largest association for the confectionery business in the United States, NCA works to ensure that the public knows and appreciates the special role that chocolates and candies plays in leading a healthy and balanced lifestyle.
Impact of COVID-19 on United States Confectionary Market
The market for confectionery has been severely impacted by the COVID-19 pandemic. Throughout 2020, the confectionery industry has been affected by the strict regulations and lockdown, which had a drastic impact on the supply chain of raw materials (agro-based product, food products, and advanced food products), trade and logistic support, demand-supply volatility, uncertain customer needs, and the workforce at the industrial level. One of the main factors that affected the confectionery industry during the lockdown was the reduction in sales because of fewer presents and purchases made by consumers across the nation. The confectionary market recovered after the lockdown due to the reopening of manufacturing facilities, and supply chain of companies started improving.
Impact of Russia-Ukraine War on United States Confectionary Market
The Russia-Ukraine war negatively impacted the market globally, especially in Eastern Europe, the United States, Eastern & Central Asia. Major confectionery producers such as Mars, Mondelz, and Nestlé announced that they had temporarily halted manufacturing.
Report Scope
“United States Confectionary Market Overview, 2016-2030F,” a comprehensive report by Markets and Data, provides an analytical and statistical guide of the size, share, growth trends, COVID-19 impact, impact of Russia-Ukraine war, opportunities, and forecasts (2023-2030F) for the United States Confectionary market. Additionally, the research scope profiles the top players in the industry, mentioning their respective market share, business model, competitive intelligence, etc.
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