Candy Bars
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Candy Bars
History of Candy Bars, as told by Jon Prince, according to CandyFavorites.com (https://www.candyfavorites.com/shop/catalog-candybars-history.php)
For a while, the Maya and the Aztecs were the only ones enjoying the fruit of the cacao tree, something they had done for thousands of years. In the 16th Century, Spanish explorer Hernan Cortez paid a visit to the Aztecs and when he met their leader, Montezuma, he got a taste of the spicy, chocolate drink that was a local treasure.
Cortez returned to Spain with the recipe and a stash of cacao beans and the chocolate drink quickly became a favorite delicacy in the aristocratic circle.
In 1847, Englishman Joseph Fry figured out a way to create a chocolate paste to press into a mold, thus creating the candy bar.
In 1875, Henry Nestle realized that adding milk to the chocolate mixture makes it less bitter, another major milestone in the world of chocolate.
The 1893 Chicago World’s Fair featured chocolate making machines that caught Milton Hershey’s eye (he was already rich from making caramel, but saw even more opportunity in chocolate, smart man). One year later, the world got the first chocolate bar from Hershey, marking the beginning of the mass-produced American candy bar.
The candy bar genealogy from that point goes something like this: Clark Bar (1916), Oh Henry! (1920), Reese’s Peanut Butter Cups (1922), Baby Ruth and Milky Way (1923), Mr. Goodbar (1925), Snickers (1930), 3 Musketeers (1932), Kit Kat (1933), and Nestle’s Crunch (1938).
With mechanized candy bar production that began in the 40’s, the market became flooded with new and inventive candy bar creations, to the tune of 40,000 over the years.
Industry:
According to Statista.com https://www.statista.com/topics/2709/confectionery-industry/
-Mars is the leading global confectionery company at 30%, while Hersheys is the leading domestic company with 43.3%.
-The confectionery industry in the United States is expected to grow by over 44 percent from 2016 to 2025. In 2016, the industry was valued at 36.4 billion U.S. dollars. By 2025, the industry is forecast to reach 52.6 billion dollars in value.
Fior Markets.com reports:
https://www.fiormarkets.com/report/global-candy-market-by-type-chocolate-candy-sugar-419437.html
-The global candy market is expected to grow from USD 217.8 billion in 2020 to USD 290.7 billion by 2028, at a CAGR of 3.8% during the forecast period 2021-2028.
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