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.

Candy Market Scope: Inquire before buying

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.
1. Global Candy Market: Research Methodology 2. Global Candy Market: Executive Summary 2.1 Market Overview and Definitions 2.1.1. Introduction to Global Candy Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Candy Market: Competitive Analysis 3.1 MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2 Consolidation in the Market 3.2.1 M&A by region 3.3 Key Developments by Companies 3.4 Market Drivers 3.5 Market Restraints 3.6 Market Opportunities 3.7 Market Challenges 3.8 Market Dynamics 3.9 PORTERS Five Forces Analysis 3.10 PESTLE 3.11 Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12 COVID-19 Impact 4. Global Candy Market Segmentation 4.1 Global Candy Market, by Product Type (2022-2029) • Chocolate Candy • Non- Chocolate Candy o Hard Boiled Candies o Pastilles, Gums, Jellies and Chews o Toffees, Caramels and Nougat o Mints o Others 4.2 Global Candy Market, by Distribution Channel (2022-2029) • Supermarkets and Hypermarkets • Convenience Stores • Specalist Retailers • Online Retail • Others 4.3 Global Candy Market, by Price Point (2022-2029) • Economy • Mid-Range • Luxury 4.4 Global Candy Market, by Age Group (2022-2029) • Children • Adult • Geriatric 5. North America Candy Market(2022-2029) 5.1 North America Candy Market, by Product Type (2022-2029) • Chocolate Candy • Non- Chocolate Candy o Hard Boiled Candies o Pastilles, Gums, Jellies and Chews o Toffees, Caramels and Nougat o Mints o Others 5.2 North America Candy Market, by Distribution Channel (2022-2029) • Supermarkets and Hypermarkets • Convenience Stores • Specalist Retailers • Online Retail • Others 5.3 North America Candy Market, by Price Point (2022-2029) • Economy • Mid-Range • Luxury 5.4 North America Candy Market, by Age Group (2022-2029) • Children • Adult • Geriatric 5.5 North America Candy Market, by Country (2022-2029) • United States • Canada • Mexico 6. Europe Candy Market (2022-2029) 6.1. European Candy Market, by Product Type (2022-2029) 6.2. European Candy Market, by Distribution Channel (2022-2029) 6.3. European Candy Market, by Price Point (2022-2029) 6.4. European Candy Market, by Age Group (2022-2029) 6.5. European Candy Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Candy Market (2022-2029) 7.1. Asia Pacific Candy Market, by Product Type (2022-2029) 7.2. Asia Pacific Candy Market, by Distribution Channel (2022-2029) 7.3. Asia Pacific Candy Market, by Price Point (2022-2029) 7.4. Asia Pacific Candy Market, by Age Group (2022-2029) 7.5. Asia Pacific Candy Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Candy Market (2022-2029) 8.1 Middle East and Africa Candy Market, by Product Type (2022-2029) 8.2. Middle East and Africa Candy Market, by Distribution Channel (2022-2029) 8.3. Middle East and Africa Candy Market, by Price Point (2022-2029) 8.4. Middle East and Africa Candy Market, by Age Group (2022-2029) 8.5. Middle East and Africa Candy Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Candy Market (2022-2029) 9.1. South America Candy Market, by Product Type (2022-2029) 9.2. South America Candy Market, by Distribution Channel (2022-2029) 9.3. South America Candy Market, by Price Point (2022-2029) 9.4. South America Candy Market, by Age Group (2022-2029) 9.5. South America Candy Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1 THE HERSHEY COMPANY 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2 Nestlé 10.3 Meiji Holdings Co., Ltd. 10.4 General Mills Inc. 10.5 Mondelēz International 10.6 Kellogg NA Co 10.7 Mars, Incorporated 10.8 pladis global 10.9 LOTTE CONFECTIONARY CO.LTD. 10.10 August Storck 10.11 Perfetti Van Melle 10.12 HARIBO of America, Inc. 10.13 Arcor 10.14 Ferrero 10.15 Cloetta 10.16 Sweet Candy Company. 10.17 THE BANG CANDY COMPANY 10.18 Quality Candy Company 10.19 Muskoka Candy Company 10.20 The Ferrero Group. 10.21 palmer-candy 10.22 SUGARFINA INC. 10.23 Jelly Belly Candy Company

About This Report

Report ID 75049
Category Food & Beverages
Published Date June 2023
Updated Date