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 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).
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.
PRODUCTS, OPERATIONS & TECHNOLOGY
Chocolate candies account for about 60% of US confectionery sales, nonchocolate candy for about 30%, and gum for about 10%, according to IRI. Nonchocolate candies include a wide variety of products, such as jellybeans, gummies, mints, and hard candies. Within the chocolate segment, about 75% of revenue is generated by companies that purchase chocolate from other sources; manufacturers that process their own cacao beans account for the remaining 25%.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook