Showing posts with label US Chewy Candy Market. Show all posts
Showing posts with label US Chewy Candy Market. Show all posts

Thursday, September 7, 2017

US Chewy Candy Market Analysis to 2021: Ken Research

How is US Chewy Candy Market Positioned?
Chewy candies have become a staple in the US households and are considered as one of the vital gifts on holidays such as Halloween, Thanksgiving, Easter and Christmas. Chewy candies are growing in the US owing to their recent popularity in the working class segment population as the concept of on-the-go snacking takes hold of the people. The availability of sugar-free chewy candies coupled with a large number of flavors has made chewy candies extremely popular among adults. Over the years, the chewy candy has replaced other confectionary products including chewing gum, mints, candies and other products, which has aided the overall market growth. The chewy candy market in the US is in maturity stage with companies majorly competing on the basis of price, brand association, distribution channel and flavors.
US market witnessed increasing interest of convenience store in this industry and they have been stocking more chewy products and bite-size brand extensions. Millennials’ desire for more chewy candy varieties has also favored market growth of US chewy candy market. US Chewy Candy market witnessed positive growth rate during 2011-2016, increasing from USD ~ billion during 2011 to USD ~ billion during 2016 ending December at a CAGR of ~% during this period. The most popular among chewy candies are gummi bears, licorice, taffy and jelly beans to name a few. Chewy candies are now synonymous with American culture and are considered as a must have snack by both kids and adults.
US Chewy Candy Market Segmentation
By Type of Candies:  Gummy chewy candies dominated the US chewy candy market in terms of revenue accounting for ~% (USD ~ billion) of the overall market share during 2016. Gummy candies are very easy to carry and they can be swallowed easily which has majorly triggered the growth of this segment in the country. It is comfortable for the kids to eat these small candies, who are one of the leading consumers of chewy candies in the US. Gummy sticks followed the gummies segment in terms of revenue in the US chewy candy market during 2016 accounting for ~% of the overall market share.
By Flavors: Sweet chewy candies dominated the market share of the US chewy candy market accounting for ~% (USD ~ billion) of the overall market revenue during 2016. Sweet chewy candies are available in various flavors including fruity candies, apple candies, banana candies, cotton candies, grape candies, marshmallow candies and others. In terms of revenue, sour & sweet chewy candies follow sweet chewy candies in the US chewy candy market accounting for ~% of the overall market share during 2016. Sweet & sour chewy candies are available in various flavors including black cherry, grapefruit, tangerine and others. Sour segment accounted for 10% of the overall chewy candy revenues during 2016.
By Distribution Channel: The sales of chewy candy through convenience store have grown at an alarming rate both in terms of value and volume. In terms of value, the sales of chewy candy at convenience store increased from USD ~ million during 2012 to USD ~ million during 2016 at a CAGR of ~% during 2012-2016. The major growth driver for increasing revenue was presence of chewy candies on shelves which attracted customers to buy chewy candies in bulk. Chewy candies are an intentional purchase rather than impulsive purchase as these have their personal shelf space, unlike other confectionary items which are placed near the cash counters and are mostly impulsive sales. A non convenience store distribution channel incorporates sales of chewy candies supermarket, drug store, military commissary, select club, dollar retail chain. Sales of chewy candies via non convenience store dominated the US chewy candy market during 2016.
Trade Scenario in US Chewy Candy Market
Not all the chewy candies consumed are produced in the US as many of the country’s favorite brands are global players with worldwide presence of their manufacturing plants. The trade commission data accumulated over the years shows that the imports of chewy candies in the US by value has followed a CAGR of ~% throughout last 5 years during 2011-2016. In terms of volume, the imports of chewy candies in the US have followed a CAGR of ~% throughout 2011-2016. During 2011, the imports of chewy candies in the US were ~ million units which increased to ~ million units during 2016.
In terms of import value, United Kingdom has dominated the overall US chewy candy market over the years. UK is known for its confectionary products over the world and various companies from UK export their products to the US. Canada and Mexico follow UK in terms of import revenues as these are the neighboring countries of the US.
Trends and Developments in US Chewy Candy Market
Chewy candies are growing in the US owing to their recent popularity in the working class segment as the concept of consuming healthy snacks takes hold of the people. Fruit flavors are likely to carry appeal because of the perception that these products are healthier or less indulgent than chocolate-flavored products.
Increasing population of millennials in the country has positive correlation with increasing sales of chewy candy in the US. As per millennials are concerned, snacking occasions are taking the place of regular meals amongst them. The chewy candy industry of US has witnessed introduction of various new flavors in the market over the years.
Issues and Challenges
As eating habits evolve in the country consumers are interested and demand more nutritious food products. Due to poor health conditions in the country and increasing awareness about healthy eating habits, consumers tend to shift their focus towards healthy confectionary items. Chewy candies top the list of most damaging candies among the confectionery segments as these are highly acidic and they may even break down tooth enamel.
The chewy candy industry poses direct threat from other products in the candy industry such as chocolates, chewing gums, mints, candies and others.
Major Players in US Chewy Candy
The chewy candy market in the US is fragmented with wide presence of over 30 manufacturers in the domestic industry. However, a few companies which already have settled in the chewing gum industry and are also present in the chewy candy industry are constantly trying to make a mark in this highly competitive industry.
The most prominent among all the companies is Wrigley which is the market leader with ~% market share during 2016. Wrigley has three major chewy candy brands including Starbust, Skittles and Life Saver Gummies. The Ferrara Candy Company followed Wrigley in terms of revenue earned from chewy candy and the company’s revenue accounted for ~% (USD ~ million) of the overall market share during 2016. In terms of revenue, Mondelez International follows Ferrara Candy accounting for ~% of the overall chewy candy market share during 2016. Sour Patch Kids is the leading chewy candy brand of Mondelez International. The Hershey Company followed Mondelez International in terms of revenue from chewy candy in the US. The company sells chewy candy in various flavors under various brands including Jolly Rancher, Twizzlers and Reese. Private label sugar free chewy candies are available in the market in a multitude of flavors and variants ranging from gummies and taffies to licorice.
Consumer Profile in the US Chewy Candy Market
Factors for Consumption: Candies are often associated with holidays, birthdays and other special occasions and hence, are also the biggest driving factors for consuming chewy candy among Americans with ~% of the consumers eating candies on such holidays/special occasions. ~% of the consumers cite curbing hunger as the motivation for consuming chewy candies. ~% consumers do not need a reason for chewing candy and just go for it for their own personal indulgence.
Consume vs Purchase: It has been noticed that ~% of the adults purchased chewy candies for resale or to gift to others while ~% candies were bought for consumption. For children, i.e. age below 18, ~% of the population consumed chewy candies whereas only ~% of the population purchased chew candies.
Future Outlook of US Chewy Candy Market
Chewy candy is the largest non-chocolate industry segment and with continuous product innovation and introduction of new flavors in the market, the US chewy candy market will grow at a positive growth rate in the forecasted period 2016-2021. It has been anticipated that the market will grow positively on the back of strong economic conditions in the country coupled with growth in personal disposable income of the citizens which will enable them to spend more on sweet treats. It has been anticipated that Skittlets will continue to dominate the US chew candy market. In terms of revenue, the US chew candy market is expected to augment positively rising from USD ~ billion during 2016 to USD ~ billion during 2021 at a CAGR of ~% during 2016-2021. In upcoming years, companies are expected to introduce more exotic flavors and increase market penetration in both domestic as well as global market.
Companies Cited in the Report
List of Companies                             Companies Covered in the Report                                  
Wrigley
Mondelez International
Ferrara Candy Company                       Major Players in US Chewy Candy Market
The Hershey Company
Perfetti Van Melle
Key Factors Considered in the Report
Comprehensive analysis of US Chewy Candy Market and its segments
Listed major players and their positioning in the market
Identified major industry developments in last few years and assessed the future growth of the industry
Value chain analysis of Chewy Candy Market
For further reading click on the link below:
Related Reports by Ken Research
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204

Tuesday, September 5, 2017

Millennials is the Major Segment which accounted for Majority of the demand for Chewy Candies in US: Ken Research


Increasing Popularity among Millennials, Increasing Demand of On-The-Go Snacking, Increasing Household Income, Introduction of New Products and High Market Presence were the key factors driving growth in US Chewy Candy Market.
The report titled “US Chewy Candy Market Outlook 2021 – Increasing Demand for On-The-Go Snacking and New Flavor Launches to Drive Market Growth” by Ken Research suggested a growth at a positive CAGR in revenue in US chewy candy Market in next 5 years till 2021.
Chewy candies have become a staple in the US households and are considered as one of the vital gifts on holidays such as Halloween, Thanksgiving, Easter and Christmas. Chewy candies are growing in the US owing to their recent popularity in the working class segment population as the concept of on-the-go snacking takes hold of the people. The US chewy candy market is likely to have strong linkages with the millennial population and as the population is poised to grow further, the chewy candy sector is anticipated to witness a bright outlook in upcoming years. The primary growth drivers of US chewy candy market have been increasing popularity among millennials, increasing demand from Gen Z & baby boomers, over the years introduction of new products & flavors and increasing demand as on-the-go snacking product.
The chewy candy segment majorly comprises of gummies, gummy stick, sweet, sour and sweet & sour chewy candies. The highest demand for chewy candies is driven from gummy segment owing to more flavor variety, easily swallowed by kids and ease of portability. The chewy candy market grew at a positive growth rate and this can be attributed to the increased consumption by the adults as chewy candy moves towards being a must have on-the-go snack for the working population and also to the increasing innovation tactics being exhibited by chewy candy manufacturers with a multitude of new flavors (green apple, lemon, watermelon, blue berry, wild berry, strawberry, pineapple and others) and exciting packaging (bear-shaped candy, candy corn, cylindrical candy, gumdrop shaped candy, spherical candy and others) offered to the consumers.
US is poised to be one of the fastest growing chewy candy markets worldwide, thus catering to the needs of both global and domestic consumers. US citizens are very addictive to smoking cigarettes which has indirectly increased consumption of snacks. Alternatives like snacks help the people in keeping their mouths busy which prevent them from smoking cigarettes. This has caused the consumption of snacks such as chewing gum, chocolate bars and also chews candies to increase in the recent years. With chewy candy manufacturers opting for healthier variations of their products, working professionals seem to have increased their consumption of chewy candies at work in recent times.
Key Factors Considered in the Report
United States Non Chocolate Chewy Candy
New Chewy Candy Launch in the US
US Chew Candy Market Size
Brand Sales Chewy Candy US
Gluten Free Chewy Candy Market
Gummy & Chewy Candy Market US
Skittles Sales Figure
Chewy Candy Gift Market
Chewy Candies Market US
Production Chewy Candy in the US
Chewy Candy Trends United States
Sales Volume Chewy Candy US
Fruit Flavor Chewy Candy Market
Caramel Chewy Candy Market in US
American Preference for Chewy Candy
Mondelez International Market Share Chewy Candy
For further reading click on the link below:
Related Reports by Ken Research
Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
+91-124-4230204