Females account for 56% of US confectionery market by value, including 63% of gum market, according to new report
January 20, 2014
– Reportbuyer.com just published a new market research report:
The US Confectionery Market: What Consumers Eat and Why?
This report provides the results for the Confectionery market in the US from Canadean's unique, highly detailed of consumers' Consumer Packaged Goods (CPG) consumption habits, and forms part of an overall series covering all CPG product markets. Its coverage includes, but is not limited to, consumption behaviors, the extent to which consumer trends influence their consumption, the value of the market these trends influence, and brand and private label choices as well as retailer choices. Much of this information can also be analyzed by specific consumer groups, providing hard and fast data on consumers and markets at the product category level.
Introduction and Landscape
Why was the report written?
Marketers in the Confectionery market face a major challenge. Understanding market size and segmentation is valuable, but the key to effective targeting is knowing just how valuable specific consumer groups are, and being able to quantify the impact of consumer trends. This data report solves these problems by providing survey-based data on consumer trends and consumer groups and market data that show the exact size of consumer groups, how much of the Confectionery market they account for, and which consumer trends drive their behavior.
What is the current market landscape and what is changing?
As consumer confidence increases proportionally to economic recovery, consumer trends will be directly affected. Since the global financial crisis of 2008-2009 the retail market has been characterized by an increase in the amount of discounted and own-brand products. Chocolate, Gum, and Sugar Confectionary are not considered essential items and therefore consumption patterns have been comparatively affected. The relatively weak US economy means it is essential to understand what pockets of growth might exist and whether they represent value or volume opportunities.
What are the key drivers behind recent market changes?
Consumers' uptake of products and the influence of consumer trends are fundamental causes of change in markets - making knowing what these trends are and the extent of their influence crucial. The survey-based data provided in this report examines over 20 consumer trends that affect the market and examines the share of consumption across 26 consumer groups. This data provides a detailed insight into exactly who the consumer is and just how much impact the latest consumer trends are having.
What makes this report unique and essential to read?
The data provided is unique in the market as it tracks consumer behavior through to its actual value impact on a product market. This provides readers with a unique data analysis of the market, allowing marketing tactics and strategy to be updated in line with the very latest consumer behaviors.
Key Features and Benefits
Consumer data, based upon proprietary surveys and then consumer group tracking and modeling for the following specific categories: chocolate, gum, and sugar confectionery.
Detailed consumer segmentation covering over 26 consumer groups, 20 consumer trends, and consumption frequency for each product category.
Consumer penetration for brands and private labels, based upon the original survey and then subsequent consumer tracking and modeling.
Unique retailer choice data at the product category level, based upon the original survey and then subsequent consumer tracking and modeling.
Key Market Issues
Females have a share of 56% of the US Confectionery market by value despite accounting for 51% of the population. This disproportionate consumption is heaviest in the Gum market, where females account for 63% of market by value.
Gum consumption peaks among Early Young Adults, after which it declines substantially as consumers get older, to the point where over 62% of Older Consumers are Non-users. This consumption pattern limits the number of premium products in the Gum market, with younger consumers typically recording the lowest levels of disposable income.
Not only do more females consume Sugar Confectionery than males, they do so more often; 15% of females are Heavy frequency consumers compared to 12% of males, while 31% of females are Light frequency users compared to 21% of males.
Chocolate accounts for 56% of the US Confectionery market by value and 64% of the market by volume. Sugar Confectionery is the second-largest category, with a value market share thrice as large as Gum.
Private label penetration is low in the Confectionery market in the US, highest in the Sugar Confectionery product category at 3% of the volume of products distributed. Confectionery markets tend to be strongly brand-driven, with strong differentiation between products, which explains this low penetration.
Indulgence is the most important trend in the Confectionery market in the US, closely followed by Personal Space and Time. Not only do a large proportion of US consumers, particularly in the Chocolate product category, highlight that these consumer trends have an influence on their consumption, this translates into a significant proportion of actual value being directly influenced as well.