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The North America Confectionery Market Size is poised to grow at a market growth of 3.3% CAGR during the forecast period.
Confectionery refers to a large food of items, also called as sweets. Confectionery is further divided into two broad terms: sugar and bakers confectionary. Sugar Confectionary includes candies, sweets, chewing gums, chocolate and others that have sugar as a main ingredient. Chocolate confectionaries are sometimes treated as a different category. These products are available in different flavors and floral coloring, which adds more value to its popularity among population. Bakers confectionary includes food items such as pastries, cakes, and similar food items. Demand for sugar-free organic products is high in demand. According to Hudson Institute, Inc., 82% of the sales growth amid Healthy Weight Commitment Foundation member companies such as Kraft Foods and Nestle U.S. was due to lower calorie food products in 2013. In the coming years, rising demand for sugar free organic product could help in the growth of Confectionery market. Market competitors are coming up with new strategies; by associating film promoters for the ad campaigns to attract more and more customer. The idea is to increase customer engagement, especially among children. Brands such as Push Pops and Tic Toe have done partnerships with movie releases. On the other hand, another brand Skittles have partnered with Marvel for the Captain America. The idea is providing opportunity for companies in driving consumer engagement. Another trend which is getting popular among the population is vending machine. Huge demand for vending machines has been seen so far. One of the examples is Coke freestyle that is also very popular. It has gained attention of many manufactures and also resulted in completing consumers need. Malls, retail stores, movie theaters, and airports are now putting vending machines rapidly with different ranges of products and categories.
The market is segmented on the basis of type and Country. Based on Type, the market is segmented into Chocolate, Sugar, Fine Bakery Wares, and Others (Gums, Snack Products, Brand Ice Creams, and Raw Pastes). Chocolate market is further segmented into White Chocolate, Milk Chocolate, and Dark Chocolate. Sugar is further segmented into Hard-Boiled Sweets, Caramels & Toffees, Medicated Confectionery, Gums & Jellies, and Others (Marshmallows, Nougat, Lollipops, and Liquor ice). Based on Country, the market is segmented into U.S, Canada, Mexico, and Rest of North America.
The key players operating in the confectionery market are Mars Inc., Nestle, Mondelez International, Inc., Ferrero, Ezaki Glico Co., Ltd., Delfi Limited, Lindt & Spr?ngli AG, and Lotte Group.