Candy Market size is expected to experience moderate growth to record a CAGR of 4.0% throughout the forecast period 2021-2026. Candies are also known as confectioneries. The preparation of candy includes sugar, honey, and other natural or artificial sweeteners in combination with chocolate, milk, fruit, nuts, or other ingredients or flavors that are produced in the form of bars, drops, or pieces. Certain types of candy can add valuable proteins, minerals, and vitamins that help bodybuilding and promote overall wellness. The food and beverage industry identifies candy as part of the confectionery market and uses the terms confectionery and candy interchangeably.
This preferably includes canned goods, cakes, and ice cream. The global candy market has been segmented based on the presence of chocolate. The candy market is considered a seasonal market and its sales soar during the holidays. To meet the requirements for assembling candy during the holiday seasons, manufacturers are increasing employment to step up production and production. Chocolate candies are those that include cocoa or chocolate products, for example, cocoa butter. Chocolate-free candy includes non-chocolate confectionery or chocolate replicas such as marshmallows, licorice, hard candy, and jelly beans.
Candy Market Report Coverage:
Market Size Available
2019 – 2026
2021 - 2026
By Type, By Distributional Channel, and By Region
Various Analyses Covered
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities
North America, Europe, APAC, Latin America, Middle East & Africa
Market Leaders Profiled
Arcor, August Storck KG, Yildiz Holding, Cemoi, Chocoladefabriken Lindt & Sprungli AG, United Confectionery Manufacturers, Crown Confectionery Co. Ltd., DeMet’s Candy Co., Ezaki Glico Co. Ltd., Ferrero Group, Lotte Confectionery, Mars Inc., Hersheys Co. and General Mills
As consumer spending increases, the demand for consumer goods is also rising. The mounting urbanization is also an essential factor in the growth of the candy market in the world. According to the International Organization for Migration in 2015, around 3 million people migrate to cities every week. Therefore, the above factors drive market growth. The lucrative target population of the candy market is the population of children and youth. According to the US Census Bureau, in 2016, children 0-17 years old represented 73.6 million people. The increasing availability of different varieties of candy has led to high demand among children. Manufacturers also engage in innovative marketing strategies to attract their target customers, as children are viewed as a highly influential population group.
The increasing number of new product developments has contributed to the steady growth of the candy market. There are different flavored candies of various shapes available in the market. For example, Big Red is a cinnamon-flavored chewing gum made by Mars Incorporated. The companies are also involved in the launch of new products, further stimulating demand from the candy market. Product innovation also aimed to address the growing health problems associated with consuming candy, such as diabetes. This has led the leading market players to offer sugar-free candy to the diabetic population and also to reduce the risk of potential diabetes in their clients.
Industry demand is supposed to be moderate due to growing consumer health concerns, changing preferences, and falling sugar prices with low selling prices. Promotion by companies selling health-enhancing products is also an essential inhibiting factor in market growth. Most of them are backed by scientific research and studies. Since candies contain a significant amount of sugar, they are directly related to diabetes and obesity. This problem will likely be solved with the development of sugar-free candy substitutes. However, the performance of the global candy market is assumed to accelerate due to increasing investments in consolidation and innovation by significant multinationals. As a result, candy makers are likely to develop healthier candy alternatives to decrease consumers' unfavorable perceptions of candy.
global candy market has been categorized on the basis of geography in four regions: North America, Europe, Asia-Pacific, and the rest of the world. North American Candy was further segmented in the United States, Canada, and Mexico. The European Candy market has been ranked in the United Kingdom, Germany, France, Italy, Spain, and the rest of Europe. The Asia-Pacific Candy market has been divided into China, India, Japan, Australia, and New Zealand, and the rest of the Asia-Pacific. The Candy market in the rest of the world has been segmented into South America, the Middle East, and Africa.
Asia-Pacific leads the world in candy sales, followed by the North America candy market. The target population of the candy market is mainly made up of children and young people. Population growth in emerging economies has led to strong demand for candy, driven by impulsive consumer purchasing behavior. Developing economies, where per capita candy consumption is deficient compared to their western counterparts, are slowing further and further. Many countries attend media campaigns and advertisements for innovative confectionery products that have a direct impact on the rate of sugar confectionery sales. Companies increasingly launch products with creative flavors such as raw mango, tamarind, strawberry, etc.
The Global Candy market is segmented based on Type and Distribution Channel. Based on Type it is divided into Chocolate Candy and Non-Chocolate Candy. Non Chocolate Candy is further segmented as Hard Rolled Candies, Breath Sweeteners, Caramels, Gummies and Others. Based on Distribution Channel it is divided into Supermarkets, Convenience Stores, Grocery Stores, Online and Others.
Leading Key Companies Covered in this market report are:
Some of the key players dominating this market include Arcor, August Storck KG, Yildiz Holding, Cemoi, Chocoladefabriken Lindt & Sprungli AG, United Confectionary Manufacturers, Crown Confectionary Co. Ltd., DeMet’s Candy Co., Ezaki Glico Co. Ltd., Ferrero Group, Lotte Confectionary, Mars Inc., Hersheys Co. and General Mills.
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Chocolaty Candy
5.1.3 Non-Chocolate Candy
18.104.22.168 Hard Rolled Candies
22.214.171.124 Breath Sweeteners
126.96.36.199 Dietetic Candy
188.8.131.52 Lollipops and Sours
184.108.40.206 Chewing Gums
220.127.116.11 Cotton Candy
5.1.4 Y-o-Y Growth Analysis, By Type
5.1.5 Market Attractiveness Analysis, By Type
5.1.6 Market Share Analysis, By Type
5.2 Distribution Channel
5.2.2 Super Markets/Hyper Markets
5.2.3 Convenience Stores
5.2.4 Grocery Stores
5.2.7 Y-o-Y Growth Analysis, By Distribution Channel
5.2.8 Market Attractiveness Analysis, By Distribution Channel
5.2.9 Market Share Analysis, By Distribution Channel
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Distribution Channel
6.1.4 Market Attractiveness Analysis
188.8.131.52 By Geographical Area
184.108.40.206 By Type
220.127.116.11 By Distribution Channel
6.1.5 Market Share Analysis
18.104.22.168 By Geographical Area
22.214.171.124 By Type
126.96.36.199 By Distribution Channel
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Mars Inc.
8.1.2 Type Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Hershey Co.
8.3 Lotte Confectionery Co. Ltd.
8.4 Nestle SA
8.5 Ferrero Group
8.6 General Mills
8.8 August Storck KG
8.9 DeMet's Candy Co.
8.10 Crown Confectionary Co. Ltd.
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures