North America Confectionery Market Report and Forecast 2025-2034

North America Confectionery Market Outlook

The North America confectionery market is being driven by the growing USA market. The USA confectionery industry was worth nearly USD 28.2 billion in 2024.

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The US market is expected to grow at a steady pace in the forecast period of 2024-2032, growing at a CAGR of 1.9%. The industry is projected to attain a value of almost USD 28.29 billion in 2026.

While the USA confectionery industry constitutes of more than 1000 companies, the industry is dominated by The Hershey Company and Mars, Incorporated. The two companies together account for over 60% of the US market. Hershey and Mars, together, are also some of the leading players for non-chocolate products, accounting for more than 30% of the industry. The US gum industry, in particular, is dominated by Wrigley, occupying over half the market share. Wm. Wrigley Jr. Company, the world’s largest chewing gum producer, is a subsidiary of Mars, Incorporated since October 2008. The company was bought out by Mars, Incorporated along with Berkshire Hathaway Incorporated in 2008 in an all-cash deal of USD 23 million.

In Canada, the other major market in North America, Nestle Canada Inc. and The Hershey Company lead the market, accounting for a third of the chocolate market, together. Hershey includes the Hershey brand along with Brookside Foods Ltd. and Allan Candy. While Hershey acquired Brookside Foods Ltd., the Canadian confectionery brand, in December 2011, it acquired all the outstanding shares of Allan Candy in October 2014 for cash consideration of almost USD 28 million. Nestle, meanwhile, is also a major player in the boxed chocolate industry in Canada along with Ferrero and Lindt. The three companies together represent over 60% of the box chocolate market in Canada.

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Market Segmentation

Market Analysis

The North America confectionery market is being driven by the expanding distribution channels. Both online platforms and retail markets like drug and grocery stores, supermarkets, and hypermarkets are expected to grow further. With consumers becoming more health conscious, especially, as a result of the rising number of cases of obesity and diabetes, the manufacturers of confectioneries are increasingly investing in the development of reduced sugar or sugar-free products. The trend towards health and wellness is also boosting the sales of dark chocolate, thus, propelling the overall North America confectionery market forward. Dark chocolates contain numerous minerals and fibre. It also acts as an antioxidant and may contribute to the reduction of heart disease risk.

The growing high-income class along with a solid growth in GDP in the US, will also aid the North America confectionery market. The rise in disposable incomes is leading to an increase in the consumption of premium confectionery products. Also, the trend of gifting premium chocolate products is growing in the country. Thus, premium products are projected to witness a healthy growth in the forecast period and is one of the fastest growing segments in the chocolate market. While fair trade chocolates have a small market share, they are expected to grow in the coming years due to the rising consumer awareness about the sourcing of the products they are consuming. The increasing demand for premium as well as healthy products is leading to the growth of the confectionery products containing organic ingredients.

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Competitive Landscape

January 2018- Nestlé USA’s confectionery business was acquired by Ferrero for USD 2.8 billion in cash in January of 2018.

The report gives an in-depth look into the following key players in the North America confectionery market, covering their market share, capacity, and latest developments like mergers and acquisitions, capacity expansions, and plant turnarounds:

• The Hershey Company
• Nestle S.A (Nestle USA)
• Mars Inc.
• Ferrero SpA
• Mondelez International, Inc.
• Chocoladefabriken Lindt & Sprüngli AG

The EMR report gives an in-depth look into the North America confectionery market through an analysis of the Porter’s Five Forces model. The report provides a SWOT and cost analysis. An overview of the global and other regional markets like the Asia Pacific, Latin America, Europe, and the Middle East and Africa has also been provided by the report.