U.S. Confectionery Market Size, Share, Growth Analysis, By Product(Chocolate Confectionery and Sugar Confectionery), By Distribution Channel(Hypermarkets/Supermarkets, Convenience Stores, Specialty Chocolate Stores and Online), By Region - Industry Forecast 2024-2031

U.S. Confectionery Market size was valued at USD 36.8 billion in 2021 and is poised to grow from USD 38.2 billion in 2022 to USD 55.4 billion by 2030, growing at a CAGR of 4.8% in the forecast period (2023-2030).

The industry is distinguished by the presence of a few major multinational corporations having a significant presence all across the United States. A few of the major players are Mars, Inc. and its Affiliates, Mondelez International, The Hershey Company, Ferrero, General Mills Inc., Lindt & Sprungli, Kellogg Co., Clif Bar & Co., Simply Good Foods Co., and Nestlé. These companies have been implementing various expansion strategies, such as mergers and acquisitions, capacity expansions, strengthening of online presence, and new product launches, to gain a competitive edge. 'Mars, Inc.', 'The Hershey Company', 'Nestle S.A.', 'Ferrero Group', 'Mondelez International, Inc.', 'Lindt & Sprüngli AG', 'The Kraft Heinz Company', 'Haribo GmbH & Co. KG', 'The Ferrara Candy Company, Inc.', 'The Tootsie Roll Industries, Inc.', 'Just Born Quality Confections', 'Jelly Belly Candy Company', 'Wm. Wrigley Jr. Company', 'Russell Stover Candies, LLC', 'Perfetti Van Melle Group B.V.', 'Frankford Candy LLC', 'Albanese Confectionery Group, Inc.', 'Storck USA LP', 'Spangler Candy Company, Inc.', 'The Warrell Corporation', 'In June 2022, A cooperation between Perfect Day, Inc. and Mars, Incorporated and its Affiliates was announced, as well as the introduction of CO2COA, a new line of chocolate that is free of animals and kind to the environment. Animal-free milk protein is produced by Perfect Day.', 'In November 2022, Ferrero unveiled their holiday product portfolio and began selling everything from cookies to candy to mints. Seasonal products from the company's cookie brands Keebler and Royal Dansk helped to broaden its selection.'

As more readers turn to digital platforms for their news and information, many newspapers are investing in their online presence and developing new digital products and services.

Growing demand for premium and indulgent products: Consumers are increasingly willing to pay a premium for high-quality and indulgent confectionery products, such as artisanal chocolates, gourmet candies, and luxury sweets.

In 2022, the Northeast U.S. contributed most to the market. In recent years, the Northeast U.S.'s largest economies, notably Massachusetts, New Jersey, New York, and Pennsylvania, saw the confectionery industry endure rapid development, structural adjustment, and industrial upgrading. Demand for sweet foods and upscale confections has expanded as a result of rising consumer interest in these foods.