U.S. Confectionery Market Size, Share & Trends Analysis Report By Product (Chocolate Confectionery, Sugar Confectionery), By Distribution Channel (Specialty Chocolate Stores, Online), By Region, And Segment Forecasts, 2023 - 2030

U.S. Confectionery Market Size, Share & Trends Analysis Report By Product (Chocolate Confectionery, Sugar Confectionery), By Distribution Channel (Specialty Chocolate Stores, Online), By Region, And Segment Forecasts, 2023 - 2030

U.S. Confectionery Market Growth & Trends

The U.S. confectionery market size is expected to reach USD 55.35 billion by 2030, expanding at a CAGR of 4.8% over the forecast period, according to a new report by Grand View Research, Inc. The increasing snacking trend and willingness to try more sweet and salty flavors in desserts have accelerated the demand for confectioneries in the U.S. According to the report published by the USDA on ‘U.S. Confectionery Industry the Power of Sweet’, about 88.9% of consumers consumer confectioneries as a treat, 8.0% consume with a meal, and 3.1% consumer as a meal replacement.

In addition, younger consumers, particularly younger millennials and generation Z have a broader appeal for a wider array of chocolate treats. Further, nearly 1/2 of candy sales and 87% of growth is attributed to millennials and gen X in the U.S. and there is a growing demand for premium chocolate confectioneries from major players like Lindt & Sprüngli (USA) Inc., Ghirardelli Chocolate Company, and Ferrero. Further, there has been a growing appetite for fine/artisan chocolate confections such as hand-made truffles from chocolatiers.

The chocolate confectioneries segment accounted for a significant share of global revenue for 2022. The rising demand for chocolate confectioneries including countlines, tablets, seasonal chocolates, and boxed assortments attributed to consumers' increasing spending on chocolate confectioneries and other indulgent confectionery items, is boding well for the segment growth.

The hypermarkets/supermarkets contributed a majority of the share to become the largest division in the global revenue in 2022. Supermarkets and hypermarkets provide dedicated shelf spaces that offer different varieties of confectioneries. The increase in penetration of major supermarkets & hypermarkets is gaining consumer demand for confectioneries from prominent brands, which is expected to provide significant growth opportunities in the upcoming years.

The U.S. confectionery industry is consolidated in nature with the presence of a large number of international players and few regional players. Mars, Incorporated and its Affiliates; Mondelez International; The Hershey Company; Ferrero; General Mills; Lindt & Sprungli; Kellogg Co.; Clif Bar & Co.; Simply Good Foods Co.; and Nestlé. are among the prominent players in the global market.

U.S. Confectionery Market Report Highlights

• Northeast U.S. is contributed to a significant revenue share to become the largest segment in 2022 owing to the presence of major product manufacturers and the increasing number of consumers in economies including Connecticut, Massachusetts, New Jersey, and New York
• The sugar confectionery is anticipated to grow at a rapid CAGR of 6.0% over the forecast period, as the consumption of toffees, jellies, nougat, gums & jellies, and caramel is rapidly increasing
• The online segment is anticipated to grow at the fastest CAGR of 6.4% during the forecast period, as consumers are buying novelty chocolate confectioneries from prominent brands online

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