ROCKVILLE, Md. -- Market research firm Packaged Facts estimates total retail dollar sales of the U.S. non-chocolate candy market will reach $11 billion in 2018, with sales increasing at a compound annual growth rate (CAGR) of 3% between 2013 and 2018. Looking ahead, Packaged Facts forecasts sales will increase by a CAGR of more than 2% over the 2018 to 2023 period. Market sales consist of various sugary and fruity candies including licorice, gelatin-based gummies, and taffy, among others.
Also read, M&M'S Brand Introduces a New Way to Enjoy Chocolate!
The findings were published in the brand-new report Non-Chocolate Candy: U.S. Market Trends and Opportunities.
Like many segments of the U.S. food and beverage industry, non-chocolate candy was challenged by concerns about sugar consumption as more consumers tweaked their lifestyles to focus on improved health and nutrition. Nevertheless, for many consumers candy represents a simple comfort and marketers are finding ways to offer products that appeal to consumers of all ages and backgrounds.
"Non-chocolate candy is about indulgence and a sugar rush, and disproportionately appeals to children and younger adults. But there's also plenty of opportunity to reach older adults as well," says David Sprinkle, research director for Packaged Facts. "These consumers are increasingly looking for healthier more nutritious indulgences and better-for-you candies and snacks that still taste good. As a result we're seeing greater focus placed on the creation of healthier candies that feature nutritious ingredients or inclusions such at nuts, seeds, botanicals, and fruit."
The growing consumer demand for "clean labels" and "transparency" in packaged foods is also certainly impacting the snacking industry and candy market. These terms are subjective and vary in priority from consumer to consumer, but generally mean one or more of the following:
At the same time, demand for the indulgent pleasures offered by traditional candy brands remains largely unabated. Although healthy snack brands—including non-chocolate candy products—are growing well, and often disproportionately, these products remain niche. The established powerhouse candy brands continue to deliver the lion's share of sales in the category, albeit tactically adopting and adapting clean label and transparency product attributes where feasible, notes Sprinkle.
This new report, Non-Chocolate Candy: U.S. Market Trends and Opportunities, is the companion to Packaged Facts' October 2018 report Chocolate Candy: U.S. Market Trends and Opportunities, 12th Edition and the upcoming study on the U.S. chewing gum market.
The report analyzes the trends, challenges, opportunities, and consumer demographics influencing this important segment of the U.S. food and beverage industry. The non-chocolate candy market is examined at both the manufacturer and retail level, including:
View additional information about Non-Chocolate Candy: U.S. Market Trends and Opportunities, including purchase options, the abstract, table of contents, and related reports at Packaged Facts' website: https://www.packagedfacts.com/food-beverage-market-c84/.
SOURCE Packaged Facts
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