Global Candy Market, By Type (Cholocate Candy, Non-Chocolate Candy, Hard Rolled Candy, Breath Sweeteners, Caramels, Gummies, Dietic Candy, Marshmallows, Licorice, Lollipops & Sours, Chewing Gums, Cotton Candy, and Others); By Distribution Channel (Convenience Stores, Traditional Grocery Stires, Supermarkets/Hypermarkets, Online Sales Channel, Departmental Stores, and Others); By Region (North America, Europe, the Asia-Pacific, Latin America, and Middle-East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2017-2027

Published:
May 2021
Report Code:
BWC20365
Available Format:
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Pages:
141

global candy market report

Global Candy Market- Industry Trends & Forecast Report 2027

The global candy market was worth USD 209.8 billion in 2020. According to the study, the market is expected to grow at the CAGR of 4.2% during 2021-2027 (forecast period), earning revenue of around USD 278.9 billion by the end of 2027. Some factors contributing to the growth of the market are the growing demand for candies globally, the growth in product innovations, the rise in demand for chocolates globally, the rise in product developments, the rise in demand from the young age demographic, the increasing demand for sugar-free, low-calorie candies, and the emergence of new product offerings. Aside from that, the market is also facing a number of challenges, including increasing government restrictions, shifting customer tastes, and health concerns, all of which could impede the growth of the global candy market.



Source: BlueWeave Consulting

 

Global Candy Market Overview

Candies, popularly known as lollies, are usually made from sugar, which is a key ingredient in the production of candies. These come in a variety of forms, sizes, and colors. Colors and flavors are typically applied to candies to give them a distinct color and taste. Jellies, toffies, gummies are some of the examples of candies that are in high demand during festive seasons. Candy consumption spikes during celebrations such as Halloween, Christmas, Easter, and New Year. Aside from that, candies are becoming increasingly popular as gifts these days. Confectionaries and candies are often used interchangeably.

 

Global Candy Market Forecast and Trends

Growth Drivers

Increasing Disposable Income will Fuel the Market

With the rise in the living standards of middle-class consumers, emerging markets have observed categories like candies to report huge spending of disposable income. The demand for candies has always been strong during the time of festivities in developed countries, but due to improved lifestyles, even developing countries have seen exponential growth in consumerism. Furthermore, the modernization of the e-commerce industry and websites is also aiding the growth of the global candy market. Customers' increasing spending power is another important factor driving the global candy market forward.

Innovation in Products

Due to the changing preferences of the population, the candy market always hustles to bring new flavors and textures that can satisfy consumer’s taste buds. For instance, in December 2020, Jelly Belly, a US-based candy company, introduced a line of vegan gummy candies that do not contain gelatin. Apple, Berry, Lemon, Orange, and Very Cherry are among the five flavors available in the vegan line. Besides these, in April 2021,  Pecan Deluxe candy launched Popping Boba—tiny, juice-filled spheres encased in an edible shell that explodes with flavors. It is the latest addition to Pecan Deluxe Candy Company's product lineup.

Restraints

Rising Health Concern

Apart from their delicious taste, candies are unquestionably a recognized cause for many diseases such as diabetes, and obesity due to their high sugar which is harmful to health. According to Our World In Data, a project of the Global Change Data Lab, obesity was responsible for 8% of global deaths in 2017. Moreover, one in every five children and adolescents worldwide is overweight.  Aside from that, there has been a significant rise in public health awareness. Physical fitness has become a must as a result of the pandemic, as a result of which a section of people prefers avoiding sugar-filled candies.   Some other harmful effects of candies are tooth decay, which is exacerbated when sweets get trapped between teeth, Excessive candy intake can also cause blood glucose levels to fluctuate rapidly. Thus, the aforementioned factors are limiting the market growth to a great extent.

Impact of COVID-19 on Global Candy Market

No industry has been left untouched by COVID-19 and this includes the candy industry as well. Sales and production reported a steep decline due to the shutdown of manufacturing units. The mint and gums category suffered a setback too; nevertheless, chocolate confectioneries continue to rise in demand because it has become a necessary indulgence for people working from home during the ongoing pandemic. The market for dark chocolate is witnessing unprecedented growth owing to the impulsive purchase behavior of consumers. As a result, COVID-19 had only a short-term effect on the global candy industry.

Global Candy Market- By Type

Based on type, the global candy market is bifurcated into chocolate candy, non-chocolate candy, hard rolled candy, breath sweeteners, caramels, gummies, deictic candy, marshmallows, licorice, lollipops, sours, chewing gums, cotton candy. Among these, the non-chocolate category accounts for the lion's share of the market. This can be attributed to the availability of multiple candy flavors, their appearance, and mouth-feel. The major manufacturers are now focusing on product development in line with the organic food culture globally. At the same time, manufacturers are taking all possible measures to adhere to the strict regulations on the amount of sugar content. For instance, Public Health England (PHE) recommends that chocolate should contain 43.7g of sugar per 100g. Besides this, food colorings, sweeteners, vegan, and other ingredients are some of the considerations to remember. As a result, manufacturers are focusing on clean-labeled manufacturing.

Source: BlueWeave Consulting

Global Candy Market- By Distribution Channel

Based on the distribution channel, the global candy market is segmented into convenience stores, traditional grocery stores, supermarkets/hypermarkets, online sales channels, departmental stores, and others. The departmental stores dominate the overall market share as it provides the convenience of choice, variety of products, central location, and lower retail prices. However, the online sales channel is the fastest-growing segment due to its advanced customer experience and time-saving properties. COVID-19 pandemic and economic crisis are also responsible for its increased demand. Young consumers born in the digital era, such as millennials and Generation Z, are also driving consumerism through online shopping.

Global Candy Market- By Region

Based on region, the global candy market is segmented into five regions, North America, Europe, the Asia-Pacific, Latin America, and the Middle East & Africa. The Asia-Pacific dominates the overall global candy market due to the high demand for candies from the young population and children. Moreover, the impulsive purchase behavior of consumers is another primary reason fuelling the market growth. Moreover, campaigns and media advertisements related to innovative candy products are proliferating the market. Companies are increasingly launching products with innovative flavours such as tamarind, raw mango, and strawberry to lure consumers in emerging markets.


Source: BlueWeave Consulting

 

Competitive Landscape

The global candy market is highly fragmented due to the presence of many local and international players in the market. The key players in the market are Perfetti Van Melle Group, Mondelez International, Inc., The Hershey Company, Mars, Incorporated, Nestlé S.A., Crown Confectionery Co., Ltd., Kellogg Company, Grupo Arcor S.A., Lotte Confectionery Co., Ltd., Meiji Holdings Co., Ltd., Arcor, August Storck KG, Yildiz Holding, Chocoladefabriken Lindt & Sprungli AG, United Confectionery Manufacturers, Ezaki Glico Co. Ltd., Ferrara Candy Co., Ferrero Group          , General Mills , and other prominent players.

Recent Developments

·         In April 2021, HI-CHEW launched a new HI-CHEW fruit combos stand up pouch. It creates a fruit-forward experience with interesting flavors like tropical smoothie, pina colada, and the fresh strawberry lemonade. Each chewlet in the pouch is wrapped up with two layers of juicy and mouthwatering goodness.

·         In May 2020, Prefetti Van Melle USA, Inc. has launched the first soft gummy products in the United States, under Fruit-Tella brand, which has a strong base in Europe.

 

 

Scope of the Report

Attribute

                              Details

Years considered

Historical data- 2017-2020

Base Year- 2020

Forecast- 2021-2027

Facts covered

Revenue in USD Billion

Market coverage

North America(U.S. and Canada), Europe (Germany, United Kingdom, Italy, France, Spain, Russia, Sweden, Denmark, Switzerland, Netherlands, Belgium, Poland, and Rest of Europe), the Asia-Pacific (China, India, Japan, Singapore, South Korea, Australia, New Zealand, Malaysia, Thailand, Indonesia, Philippines, Vietnam, and Rest of Asia Pacific), Latin America (Brazil, Argentina, Columbia, Mexico, and Rest of Latin America), and the Middle-East & Africa (Saudi-Arabia, Iran, UAE, Turkey, South Africa and Rest of the Middle-East and Africa)

Product/ Service segmentation

By type, by distribution channel, and by region

Key Players

Perfetti Van Melle Group, Mondelez International, Inc., The Hershey Company, Mars, Incorporated, Nestlé S.A., Crown Confectionery Co., Ltd., Kellogg Company, Grupo Arcor S.A., Lotte Confectionery Co., Ltd., Meiji Holdings Co., Ltd., Arcor, August Storck KG, Yildiz Holding      , Chocoladefabriken Lindt & Sprungli AG, United Confectionery Manufacturers, Ezaki Glico Co. Ltd., Ferrara Candy Co., Ferrero Group    , General Mills , and other prominent players.

 

 

 

By Type

Ø  Chocolate Candy

Ø  Non-Chocolate Candy

Ø  Hard Rolled Candy

Ø  Breath Sweeteners

Ø  Caramels

Ø  Gummies

Ø  Dietic Candy

Ø  Marshmallows

Ø  Licorice

Ø  Lollipops & Sours

Ø  Chewing Gums

Ø  Cotton Candy

Ø  Others

 

By Distribution Channel

Ø  Convenience Stores

Ø  Traditional/Grocery Stores

Ø  Supermarkets/Hypermarkets

Ø  Online Sales Channel

Ø  Departmental Stores

Ø  Others

By Region

Ø  North America

Ø  Europe

Ø  the Asia-Pacific

Ø  Latin America

Ø  the Middle East and Africa

FAQs

1.    What is the current size of the global candy market?

Answer: The global candy market has reached USD 209.8 billion in 2020.

2.    What are the major factors driving the growth of the global candy market?

Answer: The major factors propelling the growth of the global candy market is the rise in disposable income, product innovation, rising demand for dark chocolates, and an increase in demand from children and the young population.

3.       Who are the key players in the global candy market?

Answer: The key players in the global candy market are Perfetti Van Melle Group, Mondelez International, Inc., The Hershey Company, Mars, Incorporated, Nestlé S.A., Crown Confectionery Co., Ltd., Kellogg Company, Grupo Arcor S.A., Lotte Confectionery Co., Ltd., Meiji Holdings Co., Ltd., Arcor, August Storck KG, Yildiz Holding, Chocoladefabriken Lindt & Sprungli AG, United Confectionery Manufacturers, Ezaki Glico Co. Ltd., Ferrara Candy Co., Ferrero Group, General Mills , and other prominent players.

4.    Which type accounted for the larger share in the global candy market?

Answer: The non-chocolate segment accounted for the larger share in the global candy market.

5.    Which distribution channel is dominating the global candy market?

Answer: Departmental store segment is dominating the global candy market.

COVID-19

We've been tracking the direct impact of COVID-19 on this market, and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Contact our sales team for more details at

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