Candy Market – Global Industry Analysis and Forecast (2023-2029)

Candy Market was valued US$ 234.79 Bn in 2022 and is expected to grow US$ 306.89 Bn by 2029, at a CAGR of 3.9% during the forecast period.

The report has covered the market trends from 2017 to forecast the market through 2029. 2022 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.To know about the Research Methodology :- Request Free Sample Report

COVID-19 impact on market:

COVID-19 has the potential to have three major effects on the global economy: directly impacting production and demand, causing supply chain and market disruption, and having a financial impact on businesses and financial markets. Our analysts, who are monitoring the situation throughout the world, believe that the market would provide producers with lucrative opportunities following the COVID-19 dilemma.
Candy Market Dynamics
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 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.
Candy Market Segment Analysis
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.
Regional Insights
Region-wise, North America is expected to hold the largest market share of the global candy market by 2029, 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 market dynamics, structure by analyzing the market segments and project the global 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 market make the report investor’s guide.
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Candy Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 234.79 Bn.


Forecast Period 2023 to 2029 CAGR:
3.9%
Market Size in 2029:
US $ 306.89 Bn.


 Segments Covered:
by Product Type
Chocolate Candy
Non- Chocolate Candy
Hard Boiled Candies
Pastilles, Gums, Jellies and Chews
Toffees, Caramels and Nougat
Mints
Others


by Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Specalist Retailers
Online Retail
Others


by Price Point
Economy
Mid-Range
Luxury


by Age Group
Children
Adult
Geriatric



Candy Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (razil, Argentina Rest of South America)
Key Players
1. THE HERSHEY COMPANY
2. Nestlé
3. Meiji Holdings Co., Ltd.
4. General Mills Inc.
5. Mondelēz International
6. Kellogg NA Co
7. Mars, Incorporated
8. pladis global
9. LOTTE CONFECTIONARY CO.LTD.
10. August Storck
11. Perfetti Van Melle
12. HARIBO of America, Inc.
13. Arcor
14. Ferrero
15. Cloetta
16. Sweet Candy Company.
17. THE BANG CANDY COMPANY
18. Quality Candy Company
19. Muskoka Candy Company
20. The Ferrero Group.
21. palmer-candy
22. SUGARFINA INC.
23. Jelly Belly Candy Company

Frequently Asked Questions:

1. Which region has the largest share in Global Candy Market?
Ans: North America region holds the highest share in 2022.

2. What is the growth rate of Global Candy Market?
Ans: The Global Candy Market is growing at a CAGR of 3.9% during forecasting period 2023-2029.

3. What segments are covered in Global Candy market?
Ans: Global Candy Market is segmented into product type, distribution channel and region.

4. Who are the key players in Global Candy market?
Ans: The important key players in the Global Candy Market are – THE HERSHEY COMPANY, Nestlé, Meiji Holdings Co., Ltd., General Mills Inc., Mondelēz International, Kellogg NA Co, Mars, Incorporated,

5. What is the study period of this market?
Ans: The Global Candy Market is studied from 2022 to 2029.