The North America Confectionery Market would witness market growth of 4.4% CAGR during the forecast period (2023-2030). In the year 2019, the North America market's volume surged to 9,317.5 Kilo Tonnes, showcasing a growth of 4.8% (2019-2022).
Chocolates, caramels, candies, toffees, biscuits, lollipops, and numerous other sweet foods are some of the most famous confectioneries. One of the fastest-growing sectors is the candy business. The market is driven by people's increasing desire for high-end, gourmet chocolates and gum. As consumers get richer, they spend a lot of money on extra things to satisfy their requirements. This helps the overall growth of the candy sector because more people in developed countries are buying dark premium chocolate.
People's tastes, habits, and interests are constantly changing. This has led to new ideas in the candy business. Companies are making more products by adding valuable components, organic herbal fillings, tropical fruit, and nut-based and exotic Flavors to keep up with changing customer tastes. In the past few years, the market has also grown due to the trend of giving sweets as gifts, like cookies, candies, bakery goods, and more. Confectionery goods are often bought on the spur of the moment, so brands constantly develop new, exciting ways to get people's attention. The demand for sweets has been driven by all these causes working together.
Among confectioneries, candies are among the most popular products among youth and kids across America. Thus, key players operating in the industry are continuously offering unique and innovative products to the target customers. Additionally, Canada has an enormous number of sweets made with chocolate. Canada is one of the biggest chocolate eaters in the world. Canadians eat 160 chocolate bars annually, which is 6.4 kg. This makes Canada the ninth-biggest chocolate user globally, one kg more than the United States. These factors will drive the expansion of the market.
The US market dominated the North America Confectionery Market, by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $66,451.7 million by 2030. The Canada market is experiencing a CAGR of 6.7% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 5.8% during (2023 - 2030).
Based on Distribution Channel, the market is segmented into Offline, and Online. Based on Product Type, the market is segmented into Chocolate (Milk, Dark, and White) Mints, Medicated Confectionery, Hard-boiled Sweets, Gums & Jellies, Caramels & Toffees, Fine Bakery Wares, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Confectionery Market is Predict to reach $338.2 Billion by 2030, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Mars, Inc., Nestle S.A, Mondelez International, Inc., Ferrero Group, Lindt & Sprungli AG, The Hershey Company (Hershey Trust Company), Meiji Holdings Co., Ltd., Lotte Corporation, Delfi Limited and Ezaki Glico Co., Ltd.
By Distribution Channel (Volume, Kilo Tonnes, Revenue, USD Billion/Million, 2019-30)
By Product Type (Volume, Kilo Tonnes, Revenue, USD Billion/Million, 2019-30)
By Country (Volume, Kilo Tonnes, Revenue, USD Billion/Million, 2019-30)
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