North America Confectionery Market Growth, Size, Share, Trends, Manufacturers and Future Outlook
North America Confectionery Market Size- By Product Type, By Distribution Channel- Regional Outlook, Competitive Strategies and Segment Forecast to 2032
| Published: Apr-2023 | Report ID: FOOD2332 | Pages: 1 - 157 | Formats*: |
| Category : Food & Beverages | |||
North America Confectionery Market Overview
According to SPER Market Research, the North America Confectionery Market is estimated to reach USD 87.83 billion by 2032 with a CAGR of 3.65%.
Confectionery refers to the art and science of making candies, chocolates, and other sweet treats. It involves the use of sugar, chocolate, and other ingredients to create a variety of delicious and visually appealing confections. There are various types of confectionery products, including hard candies, gummies, caramels, toffees, fudge, chocolate bars, and more. The manufacturing process for each type of confectionery product can vary, but generally involves heating and mixing ingredients to create a smooth and consistent texture. Confectionery has a long history, with evidence of sweet treats dating back to ancient civilizations. Today, it remains a popular indulgence enjoyed by people of all ages around the world. It is often used to celebrate special occasions and holidays and is also a popular gift item. The chocolate segment holds the largest share of the North American confectionary market accounting for over 60% of the total revenue in 2020.
Exploring the Growth Drivers of the North America Confectionery Industry
There are several factors that have contributed to the growth of the North America confectionery industry in recent years. One of the key drivers has been the rising disposable income of consumers, which has made them more willing to indulge in confectionery products as a treat or reward. In addition, manufacturers have been introducing new and innovative products to meet changing consumer preferences, which has helped to attract new customers and keep existing ones interested. The availability of confectionery products in convenient and portable packaging has also made them more accessible and appealing to consumers.
What challenges does the North America Confectionery Market face?
The North America confectionery market also faces several challenges that could affect its growth prospects. One of the main challenges is the increasing health consciousness among consumers, which has led to a growing demand for healthier snack options. This trend has resulted in a decline in demand for traditional confectionery products that are high in sugar and calories. In addition, there is growing concern over the environmental impact of packaging waste, which has led to calls for more sustainable packaging solutions. Despite these challenges, the North America confectionery market is expected to continue to grow, driven by factors such as innovation and product diversification.
In what ways has the COVID-19 pandemic affected North America Confectionery Market?
The COVID-19 pandemic had a significant impact on the North America confectionery market. The pandemic and resulting lockdowns have led to changes in consumer behaviour, including a shift towards online shopping and a focus on essential items. This has resulted in a decline in sales for non-essential items, including confectionery products. Additionally, the closure of non-essential businesses such as cinemas, theme parks, and restaurants has reduced the demand for impulse purchases of confectionery products. Furthermore, the pandemic has disrupted supply chains and production operations, leading to delays in the delivery of raw materials and finished products.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product Type, By Distribution Channel. |
| Regions covered | United States, Canada, Mexico, Others |
| Companies Covered | Delfi Limited (Singapore), Ezaki Glico Co., Ltd. (Japan), Ferrero SpA(Italy), Lindt & Sprugli AG (Switzerland), Lotte Confectionery Co. Ltd. (South Korea), Mars, Incorporated (U.S.), Mondelez International, Inc. (U.S.), Nestle S.A. (Switzerland), The Hershey Company (U.S.), Wm. Wrigley Jr Company (U.S.) |
Key Target Audience:
- Retailers
- Bakery
- Schools
- Independent businesses that accommodate cafeteria facilities
North America Confectionery Market Segmentation:
1. By Product Type:
- Chocolate Confectionery
- Snack Bars
- Sugar confectionery
2. By Distribution Channel:
- Convenience Stores
- Departmental Stores
- Hypermarket/Supermarket
- Online Retails
- Others
3. By Region:
- United States
- Canada
- Mexico
- Others
Key Topics Covered in the Report:
- North America Confectionery Market Size (FY’2019-FY’2032)
- Overview of North America Confectionery Market
- Segmentation of North America Confectionery Market By Product Type (Chocolate Confectionery, Snack Bars, Sugar confectionery)
- Segmentation of North America Confectionery Market By Distribution Channel (Convenience Stores, Departmental Stores, Hypermarket/Supermarket, Online Retails, Others)
- Statistical Snap of North America Confectionery Market
- Growth Analysis of North America Confectionery Market
- Problems and Challenges in North America Confectionery Market
- Competitive Landscape in the North America Confectionery Market
- Impact of COVID-19 and Demonetization on North America Confectionery Market
- Details on Recent Investment in North America Confectionery Market
- Competitive Analysis of North America Confectionery Market
- Key Players in the North America Confectionery Market
- SWOT Analysis of North America Confectionery Market
- North America Confectionery Market Future Outlook and Projections (FY’2019-FY’2032)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges
4.2. COVID-19 Impacts of the North America Confectionery Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Competitive Landscape
6.1 North America Confectionery Manufacturing Base Distribution, Sales Area, Product Type6.2 Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in North America Confectionery Market
7. North America Confectionery Market, By Product Type, 2019-2032 (USD Million)
7.1 Chocolate Confectionery
7.1.1 Dark chocolate7.1.2 White/ milk chocolate
7.2 Snack Bars
7.2.1 Cereal bars7.2.2 Energy bars7.2.3 Other snack bars
7.3 Sugar confectionery
7.3.1 Caramels, Nougat & Toffees7.3.2 Chews, Pastilles, Gums & Jellies7.3.3 Hard-boiled sweets7.3.4 Medicated Confectionary7.3.5 Mints7.3.6 Others
8. North America Confectionery Market, By Distribution Channel, 2019-2032 (USD Million)
8.1 Convenience Stores8.2 Departmental Stores8.3 Hypermarket/Supermarket8.4 Online Retails8.5 Others
9. North America Confectionery Market, By Region, 2019-2032 (USD Million)
9.1 North America Confectionery Size and Market Share by Region (2019-2025)9.2 North America Confectionery Size and Market Share by Region (2026-2032)9.3 United States9.4 Canada9.5 Mexico9.6 Others
10. Company Profiles
10.1 Delfi Limited (Singapore)
10.1.1 Company details10.1.2 Financial outlook10.1.3 Product summary10.1.4 Recent developments
10.2 Ezaki Glico Co., Ltd. (Japan)
10.2.1 Company details10.2.2 Financial outlook10.2.3 Product summary10.2.4 Recent developments
10.3 Ferrero SpA(Italy)
10.3.1 Company details10.3.2 Financial outlook10.3.3 Product summary10.3.4 Recent developments
10.4 Lindt & Sprugli AG (Switzerland)
10.4.1 Company details10.4.2 Financial outlook10.4.3 Product summary10.4.4 Recent developments
10.5 Lotte Confectionery Co. Ltd. (South Korea)
10.5.1 Company details10.5.2 Financial outlook10.5.3 Product summary10.5.4 Recent developments
10.6 Mars, Incorporated (U.S.)
10.6.1 Company details10.6.2 Financial outlook10.6.3 Product summary10.6.4 Recent developments
10.7 Mondelez International, Inc. (U.S.)
10.7.1 Company details10.7.2 Financial outlook10.7.3 Product summary10.7.4 Recent developments
10.8 Nestle S.A. (Switzerland)
10.8.1 Company details10.8.2 Financial outlook10.8.3 Product summary10.8.4 Recent developments
10.9 The Hershey Company (U.S.)
10.9.1 Company details10.9.2 Financial outlook10.9.3 Product summary10.9.4 Recent developments
10.10 Wm. Wrigley Jr Company (U.S.)
10.10.1 Company details10.10.2 Financial outlook10.10.3 Product summary10.10.4 Recent developments
11. List of Abbreviations
12. Reference Links
13. Conclusion
14. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
North America Confectionery Market is projected to reach USD 87.83 billion by 2032, growing at a CAGR of 3.65% during the forecast period.
North America Confectionery Market grew in market size from 2021. The Market is expected to reach USD 87.83 billion by 2032, at a CAGR of 3.65% during the forecast period.
North America Confectionery Market CAGR of 3.65% during the forecast period.
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North America Confectionery Market size is USD 87.83 billion from 2022 to 2032.
North America Confectionery Market Segment is covered By Product Type, By Distribution Channel.
The North America region is anticipated to have the highest market share in the North America Confectionery Market.
The key players in the market include Companies Covered Delfi Limited (Singapore), Ezaki Glico Co., Ltd. (Japan), Ferrero SpA(Italy), Lindt & Sprugli AG (Switzerland), Lotte Confectionery Co. Ltd. (South Korea), Mars, Incorporated (U.S.), Mondelez International, Inc. (U.S.), Nestle S.A. (Switzerland), The Hershey Company (U.S.), Wm. Wrigley Jr Company (U.S.).
The manufacturing process for each type of confectionery product can vary, but generally involves heating and mixing ingredients to create a smooth and consistent texture. Confectionery has a long history, with evidence of sweet treats dating back to ancient civilizations.
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