Report: Chocolate candy market has ‘sweet’ outlook
Despite a growing amount of consumers focused on healthy eating, Americans still have a sweet tooth for chocolate according to a report from market analyst Packaged Facts.
Arriving in time Halloween—one of candy’s biggest holidays—the new report “Chocolate Candy in the U.S., 10th Edition,” projects sales of chocolate candy in the U.S. will exceed $26 billion for the first time in 2018, up from roughly $22 billion in sales estimated by the end of 2015.
Most importantly, researchers note the category is quite dynamic: with a strong pace of innovation, an influx of creative new players and a steady flow of new products that engage consumers.
However the industry will also face challenges including concern about the cocoa farming process, and short-term, the supply of cocoa. But Packaged Facts says the industry is poised for continued growth based on the many positive trends now unfolding in the market.
The report segments and quantifies the market by channel and product type and includes detailed profiles of Hershey, Mars, Russell Stover, Nestle, Lindt and others.
More on the study can be found here.