The Confectionery Market in the US is expected to grow at a CAGR of 3.42 percent in terms of revenue and 1.51 percent in terms of volume from 2013-2018.
London, 28 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Confectionery Market in the US. The report focuses on several emerging trends that are expected to positively impact the market over the projected period.
A growing base of young customers with disposable incomes will be a big factor in the evolution of the confectionery market in the US, as this demographic will create more demand for premium and expensive products with better flavor, texture, and packaging.
“Major confectionery manufacturers in the US have launched innovative products targeting young consumers to drive sales,” says Faisal Ghaus, Vice President of TechNavio Research.
“This younger demographic is looking for quality chocolates made from premium ingredients, and this demand is sure to contribute to the growth of the chocolate market in the US over the forecast period.”
Increase in Sales Promotions of Confectionaries
Because candy purchases are often impulsive, point of sale promotions will continue to drive the brand growth. Display merchandizing boosts candy sales better than price reductions because it enables retailers to generate profit from the displays themselves. Retailers can use multi-vendor display racks to position candies and gum at the front of stores and in high-traffic aisles to increase sales and attract the attention of customers.
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
If you are interested in more information on this topic and our upcoming research on the Confectionery Market in the US 2014-2018, please send an e-mail to media@TechNavio.com.
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