North American sugar confectionery market is estimated to grow at a CAGR of 2.9% during the forecast period. Increasing demand for snack bars and increasing preference for new flavored confectionery products are some crucial factors encouraging market growth. There is an increasing trend towards new flavored confectionery products in the region. Therefore, the major players are increasingly launching new exotic-flavored confectionery products in the region. For instance, in April 2019, M&M'S (Mars, Inc.) launched three new, limited-edition flavors, which include Thai Coconut Peanut, English Toffee Peanut, and Mexican Jalapeño Peanut. 

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In 2018, M&M'S Flavor Vote marked the launch in Canada, which leads to an outburst of votes and excitement. Owing to the campaign’s popularity, the company has launched these new, exotic flavors. English Toffee Peanut combines the delicious flavor of English toffee, while the Mexican Jalapeño Peanut flavor is spicy with a flavorful kick. In addition, Thai Coconut Peanut allures with the sweet and savory taste of coconut, which are inspired by the beaches of Thailand.

North American sugar confectionery market is segmented based on product and distribution channel. Based on the product, the market is classified into chocolate, sugar based food, and snack bars. Chocolate segment is further segmented into white and milk chocolate and dark chocolate. Sugar based food segment is further segmented into boiled sweets, caramels and toffees, mints, gums and jellies, and others. Snack bars are further segmented into energy bars, cereal bars, and others. Based on the distribution channel, the market is segmented into an online and offline distribution channel. Offline distribution channels are further segmented into supermarket/hypermarket, convenience stores, and others. 

Some prominent players in the market include Mondel?z International, Inc., Mars, Inc., Kind LLC, and The Hershey Co. To increase competitiveness in the market, the companies are adopting strategies such as product launches and mergers and acquisitions. For instance, in March 2020, Kind, Snack manufacturer declared the launch of its breakfast category with the launch of a spectrum of breakfast bars. These bars are designed for consumers who are looking for on-the-go and a healthy breakfast option. This new range will be available in three options, which include Honey Oat, Peanut Butter, and Blueberry Almond. Each bar consists of a base of five whole grains which include amaranth, buckwheat, oats, millet, and quinoa, and is soft-baked. The Honey Oat bar is the company’s first product to not contain nuts. Each bar variants are high in fiber and gluten-free, and each 50 g pack contains two bars.

Research Methodology

The market study of the North American sugar confectionery market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Sugar Confectionery Market Research and Analysis by Product
2. North American Sugar Confectionery Market Research and Analysis by Distribution Channel

The Report Covers

• Comprehensive research methodology of the North American sugar confectionery market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American sugar confectionery market.
• Insights about market determinants which are stimulating the North American sugar confectionery market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.