U.S. Office Furniture Market Size Worth $14.31 Billion By 2025

The U.S. confectionery market is expected to reach USD 52.6 billion by 2025, according to a new study by Grand View Research, Inc. The market is expected to witness growth, owing to product innovation and growing demand for US candies in international markets. Moreover, an accelerating growth in the number of consumers switching to healthy snacks is propelling market players to introduce innovation in their product portfolios.

Market players are constantly facing competition from the increasing healthy snacks market as the population of health-conscious consumers is growing each year. They are turning to fresh fruits, healthy snacks, diet food, and cereal bars, among other snack items. However, market players are observed introducing healthy protein bars, premium dark chocolates, and implementing cross-brand selling within the market to strengthen their market position.

Market players are increasingly introducing new flavors and ingredients in their products to retain the interest of its consumers. Moreover, decreasing cocoa prices will help the chocolate manufacturers to have earned higher profit margin. While changing consumer consumption pattern has promoted the introduction of new distribution such as e-commerce websites. Thus, helping companies in expanding their reach.

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Further key findings from the study suggest:

• Gum segment is anticipated to grow at the highest CAGR of 7.3%, owing to the availability gums with sugar-free content and medicinal quality that helps avoid cavity, bad breath, and facilitates teeth whitening
• Hypermarkets & supermarkets are expected to keep dominating the market and grow at a CAGR of 5.0% from 2017 to 2025. This can be attributed to the larger availability of confectionery variants at such stores.
• Key industry participants in the market include Ferrero Group, The Hershey Company, Lindt North America, Ferrero Group, Mars, Inc., Nestle SA, General Mills, and Barcel S.A., among others.

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