US Chewy Candy Market Outlook to 2021 - Increasing Demand for On-The-Go Snacking and New Flavor Launches to Drive Market Growth
LONDON, Dec. 4, 2017 /PRNewswire/ --
Executive Summary
The report titled "US Chewy Candy Market Outlook to 2021 – Increasing Demand for On-The-Go Snacking and New Flavor Launches to Drive Market Growth" provides a comprehensive analysis of chewy candies in the US.
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The report focuses on US chewy candy market introduction, US chewy candy market size (by revenue), market segments (by type of candies, by distribution channels and by flavors), value chain process for chewy candy industry, trends and developments in the market, key issues and challenges in the market, industry norms and regulations for chewy candy, trade scenarios in US, consumer profile for US chewy candy market, product portfolio of major players in the US chewy candy market, future outlook of the US chewy candy market and covering competitive landscape of major companies including Wrigley, Mondelez International, Ferrara Candy Company, The Hershey Company and Perfetti Van Melle. The report concludes with market projection for future and analyst recommendations highlighting the major opportunities and cautions.
US Chewy Candy Market
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. The chewy candy market in the US is in maturity stage with companies majorly competing on the basis of price, brand association, distribution channel, flavors, shapes, size and packaging.
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.
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 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. 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.
Rising cases of diabetes, obesity and tooth decay led to the introduction of sugar free or sour chewy candies in the US by various companies in the market. This segment accounted for ~% of the overall chewy candy revenues during 2016.
By Distribution Channel: 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.
Competitive Landscape of Major Players in US Chewy Candy Market
The chewy candy market in the US is fragmented with wide presence of over 30 manufacturers in the domestic 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. Skittles dominated the US chewy candy market in terms of both convenience store sales value and volume during 2016. In terms of revenue, Starburst followed Skittles in the US chewy candy market during 2016.
This product has a variety of fruit flavors and a chewy texture with a juicy centre. 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.
During 2016, 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 followed Starburst in terms of convenience store sales value and sales volume during 2016. Air Heads followed Skittles and ranked second in terms of convenience store sales volume in the US chewy candy market during 2016.
Future Outlook to 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 is expected that millennial population in the US will account for ~ million during 2021 which will continue to dominate the consumption of chewy candies in upcoming years. 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.
Key Topics Covered in the Report
• US Chewy Candy Market Overview and Genesis
• Value Chain Analysis of US Chewy Candy Market
• US Chewy Candy Market Size, 2011 – 2016
• US Chewy Candy Market Segmentation by flavor, by type of candies and by distribution channels
• Trade Scenario for US Chewy Candy Market
• Trends And Development In US Chewy Candy Market
• Issues and challenges in US Chewy Candy market
• Consumer Profile of The US Chewy Candy Market
• Market Share and Competitive Profile of Major Players in US Chewy Candy Market
• US Chewy Candy Market Future Outlook and Projections
• Analyst Recommendations
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