seasonal demand for confectioneries is driving the Confectionery Market in US
Technavio analyzes that the Confectionery Market in US is expected to grow at a CAGR of 4.81% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 11.78 billion.There are various factors that contribute to the growth of the market. The confectionery market in the US experiences significant seasonal fluctuations, with peak demand occurring during key holidays such as Halloween, Christmas, and Easter. Consumers show a strong preference for traditional treats during these seasons, driving sales of chocolate, candies, and baked goods. Manufacturers and retailers strategically adjust their inventories and marketing efforts to cater to this seasonal demand, ensuring they meet consumer expectations and maximize revenue opportunities.
The confectionery market in the US encompasses a range of edible products, including edible adhesives, rice, oats, corn, chewing gum, chicle, and various types of sugar-based and sugar-free gums. The offline distribution channel, comprised of hypermarkets, supermarkets, convenience stores, and drug stores, plays a pivotal role in the market. Supermarkets and hypermarkets, driven by the expansion of the organized retail sector, dominate confectionery sales in the US. These retailers stock a diverse array of chocolates and sugar confectioneries, with major players like Target, Walmart, and Sam's Club regularly introducing new varieties. Consumers' inclination towards impulsive purchases also contributes to sales in convenience stores, which are experiencing a surge in numbers across the country.
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Confectionery Market in US Segmentation
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The US confectionery market encompasses a wide range of variants, including chocolate products, chewing gum, sweets, and luxurious or premium chocolates. Shelves in Casino Supermarkets and grocery stores are filled with these treats, catering to consumers' impulse purchase behavior. Potential consumers, driven by gifting occasions, rapid urbanization, and healthier snacking trends, show inclination towards natural ingredients, sugar-free options, and organic snacks. Grocery store operators capitalize on this demand, stocking a diverse array of offerings, from dark premium chocolates to convenience snacks.
The Confectionery market in the US is a significant segment of the global Packaged Foods and Meats market, falling under the Food Products sector of the Food, Beverage, and Tobacco industry. This market encompasses manufacturers or food processing vendors specializing in confectionery items, focusing on food processing to ensure food safety and extend product shelf life. Technavio's market analysis calculates the market size based on the consolidated revenue of these vendors, excluding those involved in food processing equipment production. Key product categories include chocolate, celebrations, snack bars, and oily-stuffed snacks. Impulse purchase behavior influences potential consumers, particularly at Casino Supermarkets and Grocery Stores.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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