Global Candy Market was valued US$ XX Mn in 2019 and is expected to grow US$ XX Mn by 2027, at a CAGR of 3.9% during the forecast period.
Global Candy Market
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Candies are known as confectioneries, preparation of candy contains sugar, honey, and other natural or synthetic sweeteners in combination with chocolate, milk, fruits, nuts, or other ingredients that are made in the form of bars, drops, and pieces. Certain types of candies can add valuable protein, minerals, and vitamins which support bodybuilding and encourage general well-being.
The continuously increasing expenditure capacity of consumers and growing development are the key factors in the growth of the candy market. The widely held candies are made for children and the young population. The demand is mainly driven by population growth, consumer tastes, and inclinations. Enormous multinational companies have a significant advantage over small and medium scale companies, in terms of economies of scale in buying and manufacturing. Production of candy with fewer sugar additives can generate high revenue generation opportunities for significant players of the global candy market. Also, the addition of valued ingredients and other nutrients in candies can be a great opportunity for key players to increase their market and revenue share.
The industry demand is likely to get serious, on account of growing health concerns among consumers, fluctuating inclinations, dropping prices of sugar with low selling prices, and increasing incidence of dental problems due to the high consumption of candies. The promotion by companies selling health-improving products is also a major hindering factor in the growth of the market. As per candies contain a considerable quantity of sugar, therefore they are directly associated with diabetes and obesity. This issue is expected to be addressed by the development of low-calorie and sugar-free candy substitutes. But, the performance of the global candy market is expected to gain speed, because of the rising consolidation and investment in improvement by prominent multinational companies. Accordingly, candy producers are likely to develop healthier candy substitutions to moderate the adverse awareness consumers have towards candy.
By product type, chocolate candies contain chocolate as well as cocoa products. The non-chocolate candy market is further separated into hard-boiled candies, pastilles, gums, jellies & chews, toffees, caramels & nougat, mints, and others. The non-chocolate candy market registers the largest growth rate, because of varying consumer inclinations.
Region-wise, North America is expected to hold the largest market share of the global candy market by 2027, because of the existence of key players in countries in the North America region together with the occurrence of the main consumer base for candies. The US only creates a demand of over 7.8 billion pounds annually. The Asia Pacific is likely to witness the fastest growth in terms of revenue, on account of fluctuations in eating ways and fluctuating way of life in countries in the region, like China and India.
The objective of the report is to present a comprehensive analysis of the Global Candy Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Candy Market dynamics, structure by analyzing the market segments and project the Global Candy Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Candy Market make the report investor’s guide.
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Scope of the Global Candy Market: Inquire before buying
Global Candy Market, By Product Type
• Chocolate Candy
• Non- Chocolate Candy
o Hard Boiled Candies
o Pastilles, Gums, Jellies and Chews
o Toffees, Caramels and Nougat
Global Candy Market, By Distribution Channel
• Supermarkets and Hypermarkets
• Convenience Stores
• Specalist Retailers
• Online Retail
Global Candy Market, By Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in the Global Candy Market
• THE HERSHEY COMPANY
• Meiji Holdings Co., Ltd.
• General Mills Inc.
• Mondelēz International
• Kellogg NA Co
• Mars, Incorporated
• pladis global
• LOTTE CONFECTIONARY CO.LTD.
• August Storck
• Perfetti Van Melle
• HARIBO of America, Inc.
• Sweet Candy Company.
• THE BANG CANDY COMPANY
• Quality Candy Company
• Muskoka Candy Company
• The Ferrero Group.
• SUGARFINA INC.
• Jelly Belly Candy Company
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