Candy Production in the US - Industry Market Research Report

Candy Production in the US - Industry Market Research Report
Candy Production in the US

Candy producers have struggled to maintain consistent growth, contending with shifting consumer preferences, heightened competition and volatile economic conditions. Since candy provides little nutritional value, it is considered a discretionary good. When economic conditions are poor or uncertain, consumers reduce candy purchases. At the height of the pandemic, candy sales nearly stalled before booming in the following year. Still, producers were unable to maintain the growth, as import competition intensified with a strengthening US dollar. As a result, revenue increased at a CAGR of 1.4$ to $12.9 billion through 2023, including a 2.6% decline in 2023 alone.

The Candy Production industry produces confectionery, such as hard candies, gum, candied fruits, fudge, halvah, marshmallows and toffee, as well as breakfast bars. Finished goods are distributed to confectionery and grocery wholesalers and retailers, which then sell the candy to households and other consumers. The industry does not produce chocolates, chocolate confectionery, ice cream or frozen yogurt.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.