North America and Caribbean Coconut Candy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Chocolate Coconut Candy and Non-Chocolate Coconut Candy), Category (Sugar-Free and Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

Code: BMIRE00027300 | Pages: 133 | Industry: Food and Beverages | Date: Oct 2022 | Type: Regional

The North America and Caribbean coconut candy market size is expected to grow from US$ 302.43 million in 2022 to US$ 416.49 million by 2028; it is expected to grow at a CAGR of 5.5% from 2022 to 2028.

 

Market Introduction

Coconut candy is majorly categorized into chocolate coconut candy and non-chocolate coconut candy. Chocolate coconut candy is made by covering grated coconut with a thick chocolate coating. Moreover, coconut milk and cream, and desiccated coconut can also be added to chocolates to add a rich, creamy, and exotic flavor of coconut. Coconut caramel candies are produced using coconut milk, salt, and white granulated sugar or glucose syrup. These candies are packaged in attractive packaging with vibrant colors and prints. The North America and Caribbean coconut candy market is highly competitive, with domestic and international manufacturers having strong distribution networks and well-established clientele. Product differentiation, quality, and price are the major competing parameters for these players. Many companies in the coconut candy market are developing plant-based, gluten-free, organic, and non-genetically modified organism (GMO) products to gain a competitive edge. In January 2021, Mars Incorporated launched a vegan candy under its brand Bounty, containing diced coconut.

North America and Caribbean Coconut Candy Market

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Veganism is gaining significant traction with consumers becoming increasingly concerned about animal cruelty, sustainability, and health and well-being. According to the Ipsos Retail Performance study, 9.7 million Americans followed a plant-based diet in 2020. Registrations for “Veganuary,” a nonprofit organization that encourages people to eat vegan food in January, are increasing at a dramatic rate, with 620,000 registrations in 2022. According to Veganuary, the veganism trend is becoming more than just a one-month commitment as a large number of people are permanently shifting toward plant-based food. The increasing preference for vegan food is mainly attributed to the perceived health benefits of plant-based food over animal-derived food. Moreover, the rising number of affiliations for animal safety is also favoring the vegan industry’s growth. Vegan candies, constituting 100% plant-based ingredients, are highly suitable for consumers looking for healthy indulgence. Coconut candies are also expected to gain huge traction among consumers with a rising inclination toward vegan candies. Confectionery manufacturers are launching coconut candies with vegan claims to appeal to a large number of consumers. For example, in January 2021, Bounty, a brand of Mars Incorporated, launched vegan chocolate bars blended with diced coconut, inspired by tropical flavors. The product is 100% vegan and gluten free. Thus, the rising preference for vegan candies is likely to emerge as a new trend in the North America and Caribbean coconut candy market during the forecast period.

 

Key Market Segments

Based on category, the market is segmented into sugar-free and conventional. In 2021, the conventional segment held the largest market share, whereas the sugar-free segment is projected to register the highest CAGR during the forecast period. Sugar-free candies gained commercial momentum in recent years due to the rising desire for no/low-sugar chocolates/confectionery products among health-conscious consumers. According to the International Diabetes Federation, 537 million individuals aged 20–79 years suffer from diabetes, and the number will reach 643 million by 2030 and 783 million by 2045. Thus, the increasing diabetic population is expected to push the sales of sugar-free products, such as sugar-free coconut candies in North America and the Caribbean.

 

Major Sources and Companies Listed

A few major primary and secondary sources referred to while preparing the report on the North America and Caribbean coconut candy market are paid databases (Factiva), publications, Hoovers, investor presentations, newsletters, sec archives, annual reports, and other information available on the public domain. Ferrero International S.A.; Russell Stover Chocolates, LLC.; The Hershey Company; Mars Incorporated; Chocoladefabriken Lindt and Spruengli AG; Unreal Brands Inc.; Alfred Ritter GmbH & Co. KG; Tru Fru LLC.; Ocho Candy Inc.; and Creative Natural Products Inc. are among the major players operating in the North America and Caribbean coconut candy market.

 

Reasons to Buy Report

  • Progressive industry trends in the North America and Caribbean coconut candy market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the North America and Caribbean coconut candy market from 2020 to 2028
  • Estimation of the demand for coconut candy in North America and the Caribbean
  • Recent developments to understand the competitive market scenario and the demand for coconut candies in North America and the Caribbean.
  • Market trends and outlook, and drivers and restraints governing the growth of the North America and Caribbean coconut candy market.
  • Decision-making process by understanding strategies that underpin commercial interest with regard to the market growth
  • North America and Caribbean coconut candy market size at various nodes of market
  • Detailed overview and segmentation of the market, as well as its dynamics in the industry
  • North America and Caribbean coconut candy market size in various countries with promising growth opportunities

 

The "North America and Caribbean Coconut Candy Market Analysis to 2028" is a specialized and in-depth study of the food & beverages industry, focusing on the North America and Caribbean coconut candy market trend analysis. The report aims to provide an overview of the market with detailed market segmentation. The North America and Caribbean coconut candy market is segmented into product type, category, and distribution channel. Based on product type, the market is segmented into chocolate coconut candy and non-chocolate coconut candy. In terms of category, the North America and Caribbean coconut market is categorized into sugar-free and conventional. The North America and Caribbean coconut candy market, by distribution channel, is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others.

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

2.           Key Takeaways

3.        Research Methodology

3.1         Scope of the Study

3.2         Research Methodology

3.2.1        Data Collection:

3.2.2        Primary Interviews:

3.2.3        Hypothesis Formulation:

3.2.4        Macro-economic Factor Analysis:

3.2.5        Developing Base Number:

3.2.6        Data Triangulation:

3.2.7        Country Level Data:

3.2.8        Limitations and Assumptions:

4.           Coconut Candy Market Landscape

4.1         Market Overview

4.2         Porter's Five Forces Analysis

4.2.1        Bargaining Power of Suppliers

4.2.2        Bargaining Power of Buyers

4.2.3        Threat of New Entrants

4.2.4        Intensity of Competitive Rivalry

4.2.5        Threat of Substitutes

4.3         Expert Opinion

4.4         Ecosystem Analysis

5.           North America and Caribbean Coconut Candy Market Key Market Dynamics

5.1         Market Drivers

5.1.1        Rising Consumption of Coconut-Based Products

5.1.2        Strategic Initiatives by Key Market Players

5.2         Market Restraints

5.2.1        High Sugar Content of Conventional Coconut Candies

5.3         Market Opportunities

5.3.1        Surging Demand for Sugar-Free and Organic Coconut Candies

5.4         Future Trends

5.4.1        Consumer Inclination Toward Vegan Candies

5.5         Impact Analysis of Drivers and Restraints

6.           Coconut Candy – Market Analysis

6.1         Coconut Candy Market Overview

6.2         North America and Caribbean Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)

6.3         Competitive Positioning – Key Market Players

7.           Coconut Candy Market Analysis – By Product Type

7.1         Overview

7.2         Coconut Candy Market, By Product Type (2021 and 2028)

7.3         Chocolate Coconut Candy

7.3.1        Overview

7.3.2        Chocolate Coconut Candy: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

7.4         Non-Chocolate Coconut Candy

7.4.1        Overview

7.4.2        Non-Chocolate Coconut Candy: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

8.           Coconut Candy Market Analysis – By Category

8.1         Overview

8.2         Coconut Candy Market, By Category (2021 and 2028)

8.3         Sugar-Free

8.3.1        Overview

8.3.2        Sugar-Free: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

8.4         Conventional

8.4.1        Overview

8.4.2        Conventional: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

9.           Coconut Candy Market Analysis – By Distribution Channel

9.1         Overview

9.2         Coconut Candy Market, By Distribution Channel (2021 and 2028)

9.3         Supermarkets & Hypermarkets

9.3.1        Overview

9.3.2        Supermarkets & Hypermarkets: Coconut Candy Market– Revenue and Forecast to 2028 (US$ Million)

9.4         Convenience Stores

9.4.1        Overview

9.4.2        Convenience Stores: Coconut Candy Market– Revenue and Forecast to 2028 (US$ Million)

9.5         Online Retail

9.5.1        Overview

9.5.2        Online Retail: Coconut Candy Market– Revenue and Forecast to 2028 (US$ Million)

9.6         Others

9.6.1        Overview

9.6.2        Others: Coconut Candy Market– Revenue and Forecast to 2028 (US$ Million)

10.        Coconut Candy Market – Geographic Analysis

10.1      Overview

10.2      North America: Coconut Candy Market

10.2.1     North America: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)

10.2.2     North America: Coconut Candy Market, By Product Type

10.2.3     North America: Coconut Candy Market, by Category

10.2.4     North America: Coconut Candy Market, by Distribution Channel

10.2.5     North America: Coconut Candy Market, by Key Country

10.2.5.1       US: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

10.2.5.1.1       US: Coconut Candy Market, By Product Type

10.2.5.1.2       US: Coconut Candy Market, by Category

10.2.5.1.3       US: Coconut Candy Market, by Distribution Channel

10.2.5.2       Canada: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

10.2.5.2.1       Canada: Coconut Candy Market, By Product Type

10.2.5.2.2       Canada: Coconut Candy Market, by Category

10.2.5.2.3       Canada: Coconut Candy Market, by Distribution Channel

10.2.5.3       Mexico: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

10.2.5.3.1       Mexico: Coconut Candy Market, By Product Type

10.2.5.3.2       Mexico: Coconut Candy Market, by Category

10.2.5.3.3       Mexico: Coconut Candy Market, by Distribution Channel

10.3      Caribbean: Coconut Candy Market

10.3.1     Caribbean: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)

10.3.2     Caribbean: Coconut Candy Market, By Product Type

10.3.3     Caribbean: Coconut Candy Market, by Category

10.3.4     Caribbean: Coconut Candy Market, by Distribution Channel

10.3.5     Caribbean: Coconut Candy Market, by Key Country

10.3.5.1       Bahamas: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.1.1       Bahamas: Coconut Candy Market, By Product Type

10.3.5.1.2       Bahamas: Coconut Candy Market, by Category

10.3.5.1.3       Bahamas: Coconut Candy Market, by Distribution Channel

10.3.5.2       Cuba: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.2.1       Cuba: Coconut Candy Market, By Product Type

10.3.5.2.2       Cuba: Coconut Candy Market, by Category

10.3.5.2.3       Cuba: Coconut Candy Market, by Distribution Channel

10.3.5.3       Rest of the Caribbean: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

10.3.5.3.1       Rest of the Caribbean: Coconut Candy Market, By Product Type

10.3.5.3.2       Rest of the Caribbean: Coconut Candy Market, by Category

10.3.5.3.3       Rest of the Caribbean: Coconut Candy Market, by Distribution Channel

11.        Impact of COVID-19 Pandemic on North America and Caribbean Coconut Candy Market

11.1      Overview

11.2      Impact of COVID-19 Pandemic on North America and Caribbean Coconut Candy Market

12.        Industry Landscape

12.1      Product launch

12.2      Expansion

13.        Company Profiles

13.1      Ferrero International S.A.

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      Russell Stover Chocolates, LLC

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3      The Hershey Company

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      Mars Incorporated

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      Chocoladefabriken Lindt and Spruengli AG

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      Unreal Brands Inc.

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      Alfred Ritter GmbH & Co. KG

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      Tru Fru LLC

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

13.9      Ocho Candy Inc.

13.9.1     Key Facts

13.9.2     Business Description

13.9.3     Products and Services

13.9.4     Financial Overview

13.9.5     SWOT Analysis

13.9.6     Key Developments

13.10   Creative Natural Products Inc.

13.10.1  Key Facts

13.10.2  Business Description

13.10.3  Products and Services

13.10.4  Financial Overview

13.10.5  SWOT Analysis

13.10.6  Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Word Index

 

 

LIST OF TABLES

Table 1.             Prevalence of Diagnosed, Undiagnosed, and Total Diabetes among Adults Aged 18 Years or Older, US, 2017–2020

Table 2.             North America and Caribbean Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)

Table 3.             The North America and Caribbean Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 4.             The North America and Caribbean Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 5.             The North America and Caribbean Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 6.             North America Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             North America Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 8.             North America Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 9.             US Coconut Candy Market, Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          US Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 11.          US Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 12.          Canada Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 13.          Canada Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 14.          Canada Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 15.          Mexico Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 16.          Mexico Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 17.          Mexico Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 18.          Caribbean: Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 19.          Caribbean: Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 20.          Caribbean: Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 21.          Bahamas Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 22.          Bahamas Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 23.          Bahamas Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 24.          Cuba Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 25.          Cuba Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 26.          Cuba Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 27.          Rest of the Caribbean Coconut Candy Market, By Product Type – Revenue and Forecast to 2028 (US$ Million)

Table 28.          Rest of the Caribbean Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)

Table 29.          Rest of the Caribbean Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)

Table 30.          List of Abbreviation

 

 

LIST OF FIGURES

Figure 1.           Coconut Candy Market Segmentation

Figure 2.           Coconut Candy Market Segmentation – By Geography

Figure 3.           North America and Caribbean Coconut Candy Market Overview

Figure 4.           The Chocolate Coconut Candy Segment Held the Largest Share in 2021

Figure 5.           North America Dominated the Coconut Candy Market in 2021

Figure 6.           North America and Caribbean Coconut Candy Market, Key Market Players

Figure 7.           Porter's Five Forces Analysis

Figure 8.           Expert Opinion

Figure 9.           Ecosystem: North America and Caribbean Coconut Candy Market

Figure 10.        North America and Caribbean Coconut Candy Market: Impact Analysis of Drivers and Restraints

Figure 11.        Geographic Overview of Coconut Candy Market

Figure 12.        North America and Caribbean: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 13.        Key Players: Coconut Candy Market

Figure 14.        Coconut Candy Market Revenue Share, By Product Type (2021 and 2028)

Figure 15.        Chocolate Coconut Candy: Coconut Candy Market – Revenue and Forecast To 2028 (US$ Million)

Figure 16.        Non-Chocolate Coconut Candy: Coconut Candy Market – Revenue and Forecast To 2028 (US$ Million)

Figure 17.        Coconut Candy Market Revenue Share, By Category (2021 and 2028)

Figure 18.        Sugar-Free: Coconut Candy Market – Revenue and Forecast To 2028 (US$ Million)

Figure 19.        Conventional: Coconut Candy Market – Revenue and Forecast To 2028 (US$ Million)

Figure 20.        Coconut Candy Market Revenue Share, By Distribution Channel (2021 and 2028)

Figure 21.        Supermarkets & Hypermarkets: Coconut Candy Market– Revenue and Forecast To 2028 (US$ Million)

Figure 22.        Convenience Stores: Coconut Candy Market– Revenue and Forecast To 2028 (US$ Million)

Figure 23.        Online Retail: Coconut Candy Market– Revenue and Forecast To 2028 (US$ Million)

Figure 24.        Others: Coconut Candy Market– Revenue and Forecast To 2028 (US$ Million)

Figure 25.        Coconut Candy Market Revenue Share, By Region (2021 and 2028)

Figure 26.        North America: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 27.        North America: Coconut Candy Market Revenue Share, By Product Type (2021 and 2028)

Figure 28.        North America: Coconut Candy Market Revenue Share, by Category (2021 and 2028)

Figure 29.        North America: Coconut Candy Market Revenue Share, by Distribution Channel (2021 and 2028)

Figure 30.        North America: Coconut Candy Market Revenue Share, by Key Country (2021 and 2028)

Figure 31.        US: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 32.        Canada: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Mexico: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34.        Caribbean: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35.        Caribbean: Coconut Candy Market Revenue Share, By Product Type (2021 and 2028)

Figure 36.        Caribbean: Coconut Candy Market Revenue Share, by Category (2021 and 2028)

Figure 37.        Caribbean: Coconut Candy Market Revenue Share, by Distribution Channel (2021 and 2028)

Figure 38.        Caribbean: Coconut Candy Market Revenue Share, by Key Country (2021 and 2028)

Figure 39.        Bahamas: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 40.        Cuba: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 41.        Rest of the Caribbean: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)

Figure 42.        Impact of COVID-19 Pandemic on North America Coconut Candy Market

Figure 43.        Impact of COVID-19 Pandemic on Caribbean Coconut Candy Market

  • Ferrero International S.A.
  • Russell Stover Chocolates, LLC
  • The Hershey Company
  • Mars Incorporated
  • Chocoladefabriken Lindt and Spruengli AG
  • Unreal Brands Inc.
  • Alfred Ritter GmbH & Co. KG
  • Tru Fru LLC
  • Ocho Candy Inc.
  • Creative Natural Products Inc.
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