Candy Manufacturing

First Research, Inc.
October 6, 2014
10 Pages - SKU: FRRS5345575
Countries covered: United States

Candy Manufacturing

Brief Excerpt from Industry Overview Chapter:

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 The Hershey Company and Mars (both based in the US), Cadbury (UK-based, but owned by US food maker Mondelez International), Barry Callebaut and Nestlé (both based in Switzerland), Grupo Bimbo (Mexico), and Ferrero (Italy).

Worldwide, candy manufacturing generates about $200 billion in annual sales, according to Euromonitor International. Western Europe is the largest confectionery market, with a 30 percent share, followed by the Asia/Pacific region (19 percent), North America (18 percent), and Latin America (13 percent).

The US candy manufacturing industry includes about 1,600 companies with combined annual revenue of about $22 billion.

COMPETITIVE LANDSCAPE

Demand is driven by consumer tastes, disposable income, and population growth. The profitability of individual companies depends on manufacturing efficiency, supply chain efficiency, and marketing. Large companies have advantages in economies of scale in manufacturing and purchasing. Small companies can compete effectively by offering premium and specialty products. All three industry segments -- companies that make chocolate from beans, companies that use purchased chocolate to make candies, and companies that make nonchocolate candy -- are concentrated.

Imports are a major source of competition for US producers. Most of the world's cocoa is produced outside the US; Hawaii is the only US cocoa source. For chocolate candy made directly from cocoa beans, imports account for...



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