North America 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)
The coconut candy market in North America is expected to grow from US$ 300.07 million in 2022 to US$ 413.28 million by 2028. It is estimated to grow at a CAGR of 5.5% from 2022 to 2028.
Strategic Initiatives by Key Market Players
The companies in the North America coconut candy market are adopting strategies such as product innovation and creative marketing campaigns to increase their customer reach. In June 2022, Cocomels, a US-based brand of JJ Sweets, launched a low-sugar caramel candy made of coconut milk. The product contains coconut cream as the main ingredient, which gives it a rich, nutty taste and mouthfeel. It is sweetened with low-calorie sweeteners, such as allulose and monk fruit, and is free from dairy, gluten, cholesterol, and corn syrup. With such product launches, Cocomels aims to target calorie-conscious consumers that are not willing to compromise on taste. Further, companies are launching customized gift boxes containing a mix of different candies for festivities and special occasions. In April 2022, Ferrero launched a range of products specially curated for Easter, which included treats and gift boxes. For example, the Ferrero Collection Bunny Gift Box comprised 13 pieces of premium confections—including Raffaello, containing coconut and almonds; Ferrero Rocher hazelnut chocolates; and Rondnoir dark chocolates with crisp wafers. Such innovative product offerings are expected to drive the sales of coconut candies during the forecast period. Many companies are launching innovative marketing campaigns to boost their sales of coconut candies. For instance, in April 2019, M&M, a brand of Mars Incorporated, launched a marketing campaign where Canadian consumers had to choose among their favorite M&M candy flavor. The consumers were encouraged to try all three flavors—Thai Coconut Peanut, Mexican Jalapeño Peanut, and English Toffee Peanut—and submit their votes online. Such marketing campaigns are expected to attract a large number of consumers. Thus, strategic initiatives such as product launches, and innovative marketing campaigns are expected to significantly drive the growth of the North America coconut candy market over the forecast period.
Market Overview
The US, Canada, and Mexico are the key contributors to the coconut candy market in the North America. The growth of the North America coconut candy market in North America is driven by the increasing young population, expanding confectionery sector, and rising popularity of chocolate-based coconut candies (especially among children). Moreover, the impulsive behavior of consumers has pushed producers to increase the availability of various candies on a massive scale in the market. Candy products have become prominent in households across North America due to the implementations and extensions of lockdowns imposed due to COVID-19 pandemic and its popularity among all age groups. The preference for sweet indulgence has increased as many consumers work from home, and some consumers opt for candies as snacks. Increasing lactose intolerance and rising veganism trend boost the demand for food products made with natural and plant-based ingredients. According to the Plant-Based Food Association, retail sales of plant-based food products in the US increased by 11% in 2019, compared to that in 2018, accounting for a market value of US$ 4.5 billion. According to the data from Cleveland Clinic, in 2019, 36% of Americans and 68% of the world population are lactose intolerant. Moreover, coconut is a major source of coconut candy. Thus, the rising demand for confectionery products, including coconut candies, made with plant-based ingredients is anticipated to drive the North America coconut candy market growth in North America during the forecast period. Companies operating in the North America coconut candy market perform business development strategies, including product launches, mergers and acquisitions, and collaborations with different organizations. High candy consumption can lead to health issues, such as diabetes. Therefore, key market players are developing sugar-free candies for the diabetic population. Such developments help lower the risk of potential diabetes among their customers. In June 2022, Cocomels, a brand of US-based JJ Sweet’s, introduced a low-sugar caramel candy made with coconut milk. The product contains coconut cream as the main ingredient, which gives it a rich, nutty taste and mouthfeel. Such development initiatives are anticipated to propel the North America coconut candy market in North America during the forecast period.
North America Coconut Candy Market Revenue and Forecast to 2028 (US$ Million)
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North America Coconut Candy Market Segmentation
The North America coconut candy market is segmented into product type, category, distribution channel, and country.
Based on product type, the market is bifurcated into chocolate coconut candy and non-chocolate coconut candy. The chocolate coconut candy segment registered a larger market share in 2022.
Based on category, the market is bifurcated into sugar-free and conventional. The conventional segment held a larger market share in 2022.
Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest market share in 2022.
Based on country, the market is segmented into the US, Canada, and Mexico. The US dominated the market share in 2022.
Alfred Ritter GmbH & Co. KG; Chocoladefabriken Lindt and Spruengli AG; Ferrero International S.A.; Godiva; Mars Incorporated; Russell Stover Chocolates, LLC; The Hershey Company; Tru Fru LLC; Unreal Brands Inc.; and Weetabix Food Co. are the leading companies operating in the coconut candy market in the North America region.
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:
4. North America 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 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 – North America Market Analysis
6.1 North America Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
7. North America Coconut Candy Market Analysis – By Product Type
7.1 Overview
7.2 North America Coconut Candy Market Breakdown, by Product Type, 2021 & 2028
7.3 Chocolate Coconut Candy
7.3.1 Overview
7.3.2 Chocolate Coconut Candy: North America 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: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
8. North America Coconut Candy Market Analysis – By Category
8.1 Overview
8.2 North America Coconut Candy Market Breakdown, by Category, 2021 & 2028
8.3 Sugar-Free
8.3.1 Overview
8.3.2 Sugar-Free: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Conventional
8.4.1 Overview
8.4.2 Conventional: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9. North America Coconut Candy Market Analysis – By Distribution Channel
9.1 Overview
9.2 North America Coconut Candy Market Breakdown, by Distribution Channel, 2021 & 2028
9.3 Supermarkets & Hypermarkets
9.3.1 Overview
9.3.2 Supermarkets & Hypermarkets: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Convenience Stores
9.4.1 Overview
9.4.2 Convenience Stores: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Online Retail
9.5.1 Overview
9.5.2 Online Retail: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
10. North America Coconut Candy Market – Country Analysis
10.1 Overview
10.1.1 North America: Coconut Candy Market, by Key Country
10.1.1.1 US: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 US: Coconut Candy Market, by Product Type
10.1.1.1.2 US: Coconut Candy Market, by Category
10.1.1.1.3 US: Coconut Candy Market, by Distribution Channel
10.1.1.2 Canada: Coconut Candy Market–Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Canada: Coconut Candy Market, by Product Type
10.1.1.2.2 Canada: Coconut Candy Market, by Category
10.1.1.2.3 Canada: Coconut Candy Market, by Distribution Channel
10.1.1.3 Mexico: Coconut Candy Market–Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Mexico: Coconut Candy Market, by Product Type
10.1.1.3.2 Mexico: Coconut Candy Market, by Category
10.1.1.3.3 Mexico: Coconut Candy Market, by Distribution Channel
11. Industry Landscape
11.1 Product launch
11.2 Expansion
11.3 Collaboration
11.4 Company News
12. Company Profiles
12.1 Ferrero International S.A.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Russell Stover Chocolates, LLC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 The Hershey Company
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Mars Incorporated
12.4.1 Key acts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Chocoladefabriken Lindt and Spruengli AG
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Unreal Brands Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Alfred Ritter GmbH & Co. KG
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Tru Fru LLC
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Godiva
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Weetabix Food Co.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
Table 2. US Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 3. US Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 4. US Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 7. Canada Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico Coconut Candy Market, by Product Type – Revenue and Forecast to 2028 (US$ Million)
Table 9. Mexico Coconut Candy Market, by Category – Revenue and Forecast to 2028 (US$ Million)
Table 10. Mexico Coconut Candy Market, by Distribution Channel – Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Coconut Candy Market Segmentation
Figure 2. North America Coconut Candy Market Segmentation – By Country
Figure 3. North America Coconut Candy Market Overview
Figure 4. North America Coconut Candy Market, By Product Type
Figure 5. North America Coconut Candy Market, By Country
Figure 6. North America Porter's Five Forces Analysis
Figure 7. Expert Opinion
Figure 8. North America Coconut Candy Market, Ecosystem
Figure 9. North America Coconut Candy Market: Impact Analysis of Drivers and Restraints
Figure 10. North America: Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 11. North America Coconut Candy Market Breakdown, by Product Type, 2021 & 2028
Figure 12. Chocolate Coconut Candy: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 13. Non-Chocolate Coconut Candy: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 14. North America Coconut Candy Market Breakdown, by Category, 2021 & 2028
Figure 15. Sugar-Free: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 16. Conventional: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 17. North America Coconut Candy Market Breakdown, by Distribution Channels, 2021 & 2028
Figure 18. Supermarkets & Hypermarkets: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 19. Convenience Stores: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 20. Online Retail: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 21. Others: North America Coconut Candy Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. North America: Coconut Candy Market, by Key Country- Revenue (2021) (US$ Million)
Figure 23. North America: Coconut Candy Market Revenue Share, by Key Country (2021 and 2028)
Figure 24. US: Coconut Candy Market –Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: Coconut Candy Market–Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Coconut Candy Market–Revenue and Forecast to 2028 (US$ Million)
- Alfred Ritter GmbH & Co. KG
- Chocoladefabriken Lindt and Spruengli AG
- Ferrero International S.A.
- Godiva
- Mars Incorporated
- Russell Stover Chocolates, LLC
- The Hershey Company
- Tru Fru LLC
- Unreal Brands Inc.
- Weetabix Food Co.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America coconut candy market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the North America coconut candy market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the coconut candy market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution