North America Sugar Confectionery Market Research Report, 2027

The North American confectionery market is segmented into hard-boiled sweets, plain mints, caramel/taffy, chewy, novelty, liquorice, sugar-free and other types like nuts, coconut, marshmallows, fudges, medicated lozenges, among others. The distribution channel is segmented into supermarkets and hypermarkets, convenience stores, pharmaceutical and drug stores, e-commerce retailers, and others. It is divided into three age groups: children (1-20 years), adults (20-55 years), and geriatric (55 years and older).The region has undergone a series of changes with regard to changes in dynamics, consumption trends, socio-economic factors, and other cultural influences. The inclination towards being a sweet tooth is something that will never end, which is to be the driving force of the market. According to the research report, "North America Sugar Confectionery Market Research Report, 2027," by Actual Market Research, it is projected to grow at a CAGR of 3.38% over the forecast period ending in 2027. As the name suggests, this sweet-tasting sugar candy is loved by all age groups across the globe. The market has been growing at a steady pace on account of the high demand from middle-class consumers. The growing high-income class, along with a solid growth in GDP in the US, will also aid the North American confectionery market. The rise in disposable incomes is leading to an increase in the consumption of premium confectionery products. The increasing demand for premium as well as healthy products is leading to the growth of confectionery products containing organic ingredients. In terms of product type, the market is highly inclined towards chewy confectionery, which resulted in 34% of the regional market share in the year 2021. However, rising health consciousness and obesity rates in the region have posed an open threat to the industry. To cater to this issue, the marketers have now introduced the sugar-free confectionery segment, which through the forecasted period is likely to be growing at an anticipated CAGR of 6.48%. Even though the sugar-free confectioneries can be termed as expensive in comparison to the regular variants, the segment is expected to flourish given the fact that the consumers in the region don’t mind paying extra for a quality product that satisfies their requirements. By sales channel, the convenience store segment clearly dominates the market, accounting for more than 37% of the market by the end of 2027.The market is also aided by the growing high-income class, which won’t mind spending extra on premium quality and attractive packing. The rise in income in the smaller economies of the region is also a boosting factor in the coming period. Apart from this, the exchange of premium confectionery as a gift has increased in the region. Through the forecasted period, the pharmacy stores as well as the e-commerce sites will show considerable growth in market share. Sugar confectionery has also now found a prominent place in the chocolate trade and fairs, which has also resulted in an increase in consumer awareness. The North American sugar confectionery market is dominated by the adult age group segment, while the same is expected to be the fastest-growing segment in the studied period too. While the adult age group segment is to lead the major markets, it’s only Canada that stands out. In Canada, the children's age group segment dominates the market, which in the year 2021 was valued at USD 0.25 billion. The major factors behind this are the high proportion of the under-20 age group and a higher fertility rate. In the region, it is the US sugar confectionery market which contributes to the highest of nearly 86% in the year 2021. The major reason for this dominance is the presence of approximately 1,000 companies in the country. Yet, on the other hand, the government regulations in regards to the sugar tax are the main market restraints. Despite a large number of manufacturers in the region, The Hershey Company and Mars Incorporated are the most popular and dominating players. The leading companies are focusing on improving their global position by enhancing their product lines and through mergers and acquisitions. Understanding the changes in lifestyles, companies are now innovating and introducing new products to cater to the customers' growing needs. Companies Mentioned: Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., Lotte Confectionery Co Ltd, Mondelez International, Lindt & Sprungli AG Considered in this report • Geography: North America • Base year: 2021 • Estimated year: 2022 • Forecast year: 2027 Aspects Covered in the report: • North America Market Size By Value for the time period (2015-2026F) • Country Wise Market Size By Value for the time period (2015-2026F) • Market Share by Product Type (Hard Boiled Sweets, Plain Mints, Caramel/ Toffee, Chewy, Novelty, Licorice, Sugar-free, Others) By Value • Market Share by Age Group (Children(1-20 Age), Adult (20-55) & Geriatric(55 and above)) By Value • Market Share by Sales Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, E-commerce & Others) By Value Countries covered in the report: • United States • Canada • Mexico The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to sugar confectionery industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.