The supermarkets & hypermarkets segment held the largest

New York, Nov. 16, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the publication of the report “North America and Caribbean Coconut Candy Market Forecast to 2028 – Impact of COVID-19 and regional analysis by product type, category and channel distribution” – https://www.reportlinker.com/p06362993/?utm_source=GNW

The popularity of coconut candy is growing among people of all ages in North America and the Caribbean due to the unique nutty and exotic flavor of coconut. Therefore, manufacturers are increasingly launching innovative products and gift sets with coconut confectionery and a mixture of different sweets. for festivities and special occasions to attract a large number of consumers.

In April 2022, Ferrero launched a line of products specially selected for Easter, which included treats and gift sets. Ferrero Rocher hazelnut chocolates; and Rondnoir dark chocolates with crispy wafers.

These innovative product offerings are expected to drive the coconut candy market in North America and the Caribbean over the forecast period. Several manufacturers are also launching innovative marketing campaigns to improve product reach and improve brand image.

For example, in April 2019, M&M, a Mars Incorporated brand, launched a marketing campaign where Canadian consumers were asked to choose from their favorite M&M candy flavors. 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 should attract a large number of consumers. Thus, product launches and innovative marketing campaigns are expected to significantly boost the growth of the coconut candy market in North America and the Caribbean during the forecast period.

The North America and Caribbean coconut candy market is segmented into product type, category, and distribution channel. Based on distribution channel, the North America and Caribbean coconut candy market is segmented into supermarkets & hypermarkets, convenience stores, online retail and others.

The supermarket and hypermarket segment held the largest market share in 2021, while the online retail segment is expected to register the highest CAGR from 2022 to 2028. Online retail stores offer various products with strong discounts, and consumers can easily buy the desired products remotely. from these platforms.

Moreover, home delivery services attract a large number of customers who buy through e-commerce platforms, such as Amazon.com, Walmart, and E-bay. Additionally, these websites offer descriptive product information and user reviews, which helps shoppers compare products and make informed decisions. During the COVID-19 pandemic, online retail channels grew in popularity as they offered door-to-door delivery services. Thus, rising online coconut candy sales are expected to drive the growth of the coconut candy market in North America and the Caribbean over the forecast period.

Based on countries, the North America and Caribbean coconut candy market is segmented into United States, Canada, Mexico, Bahamas, Cuba and Rest of the Caribbean. In 2021, the United States accounted for the largest share of coconuts in North America and the Caribbean. candy market.

The growth of the coconut candy market in the United States is mainly attributed to the growing consumption of chocolate and confectionery, the presence of a well-established confectionery industry in the country, and the growing trend to offer premium chocolates and confectionery to loved ones at special prices. occasions such as birthdays and anniversaries. Moreover, growing demand for coconut confectionery among children is also driving the market.

According to the US Census Bureau, in 2016, children aged 0 to 17 accounted for 73.6 million. The increasing availability of different candies, both chocolate and non-chocolate, has led to their high demand among children. Manufacturers also indulge in innovative marketing strategies to attract their target customers, as children are considered to be a very influential population group.

Ferrero International SA; Russell Stover Chocolates, LLC. ; The Hershey Company; March Incorporated; Chocoladefabriken Lindt and Spruengli AG; Unreal Brands Inc.; Alfred Ritter GmbH & Co. KG; TruFru LLC. ; Ocho Candy Inc.; and Creative Natural Products Inc. are some of the major players operating in the coconut candy market in North America and the Caribbean. These companies are present in both developed and developing regions, which provides them with lucrative growth opportunities.

The global coconut candy market in North America and the Caribbean has been derived using primary and secondary sources. To begin the research process, extensive secondary research was conducted using internal and external sources to obtain qualitative and quantitative information related to the market.

Additionally, several primary interviews were conducted with industry participants to validate the data and gain more analytical insights on the topic. Participants in this process include industry experts such as vice presidents, business development managers, market intelligence managers and national sales managers, as well as external consultants such as evaluation, research analysts and key opinion leaders, specializing in coconut from North America and the Caribbean. candy market.
Read the full report: https://www.reportlinker.com/p06362993/?utm_source=GNW

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