Candy Manufacturing Industry Profile

Report Page Length: 10-12
Last Quarterly Update: 5/6/2019
SIC Codes: 2064, 2066, 2067
NAICS Codes: 311340, 311351, 311352
Chapters Include:
Industry Overview Trends & Challenges Industry Forecast
Quarterly Industry Update Call Prep Questions Website & Media Links
Business Challenges Financial Information Glossary & Acronyms
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Excerpt from Candy Manufacturing Industry Profile

The candy manufacturing industry includes three major segments: companies that make chocolate from beans, companies that use purchased chocolate to make candies, and companies that make nonchocolate candy. Major companies include Hershey, Mars, and Mondelez International, all based in the US; as well as Barry Callebaut and Lindt (both based in Switzerland); Ferrero (Italy); and Meiji (Japan).

Worldwide, the confectionery market is expected to generate about $285 billion in annual sales by 2025, according to Hexa Research. In 2017, the Asia/Pacific confectionery market represented about 25% of overall global market revenue.

The US candy manufacturing industry includes about 1,850 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $26 billion.

COMPETITIVE LANDSCAPE

Candy manufacturers are developing new product lines and revamping their marketing strategies to capitalize on the growing popularity of healthier snacks and gourmet confections. Small and independent candy makers that sparked the early growth of those segments are now fending off competition from major manufacturers that have been making acquisitions and reformulating recipes in an effort to gain market share.

Changes in the retail sector are also affecting the industry's competitive balance. Center-store packaged food sales have slowed at supermarkets as online grocery shopping and curbside pickup service have put a dent in impulse purchases. Many grocers are allocating less shelf space for candy and snack foods due to weaker demand, requiring manufacturers to compete more intensely ...

 
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