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The Candy Market grew from USD 68.64 billion in 2023 to USD 71.84 billion in 2024. It is expected to continue growing at a CAGR of 4.93%, reaching USD 96.17 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
This market caters to a wide range of consumers across different age groups, with its application extending from personal consumption to gift items during holidays and special occasions. The scope of the candy market is extensive and includes the manufacturing, distribution, and retail of various candies and confectioneries. The market encompasses a range of products, from artisanal chocolates to mass-produced candies, catering to consumer preferences and dietary restrictions, such as sugar-free and vegan options. The growth of the candy market is affected by several factors, including continuous innovation in flavors and packaging of candies, rising disposable income and growing spending on confectionery products, and expanding popularity of seasonal and limited-edition flavor candies. However, several limitations and challenging factors affect growth in the candy market, such as concerns associated with excessive sugar consumption and stringent food safety and labeling regulations. On the other hand, increasing demand for healthier candy options, including low-sugar and natural ingredient-based candies, expanding collaboration with influencers and celebrities for brand endorsements, utilization of e-commerce platforms for personalized and direct-to-consumer sales strategies, and investment in sustainable and eco-friendly packaging solutions to appeal to environmentally conscious customers presents potential growth opportunities for the candy market.
Regional Insights
In North America, particularly the U.S. and Canada, the candy market continues to exhibit steady growth, partly due to the strong presence of major confectionery brands and a significant consumer base with a high disposable income. Recent patents focus on enhancing flavor longevity and texture alterations to satisfy evolving consumer preferences. There is a notable shift towards organic and sugar-free alternatives driven by health-conscious consumers. South America's candy market is diverse, with traditional flavors and local specialties driving consumer preferences. Europe's candy market is diverse, with a robust demand for high-quality confectionery. The region's focus on sustainable and ethically sourced ingredients is noteworthy, influencing product innovation and consumer choices significantly. Germany, the UK, and France are pivotal markets, with consumers showing a keen interest in gourmet offerings and traditional sweets. The Middle East has a growing confectionery market, with a notable preference for luxury and gourmet candy products. Africa's candy market is in a nascent stage with significant potential for growth. The expansion of retail infrastructure and the rise of the urban middle class are promising indicators for the candy industry. The APAC region is witnessing rapid development in the global candy market due to rising incomes, urbanization, and the expansion of retail infrastructure. China's candy market is seeing an increase in e-commerce sales, with a significant lean towards premium and imported candy brands. India presents a diverse candy market with a strong preference for traditional sweets which coexist with modern confectioneries. The increase in disposable income among the middle class has increased the consumption of branded candies.Market Insights
Market Dynamics
- The market dynamics represent an ever-changing landscape of the Candy Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.
Market Drivers
- Continuous innovation in flavors and packaging of candies
- Rising disposable income and growing spending on confectionery products
- Expanding popularity of seasonal and limited-edition flavor candies
Market Restraints
- Fluctuations in the prices of sugar, cocoa, and other raw materials
Market Opportunities
- Increasing demand for healthier candy options, including low-sugar and natural ingredient-based candies
- Expanding collaboration with influencers and celebrities for brand endorsements
Market Challenges
- Concerns associated with product recalls and stringent food safety and labelling regulations
Market Segmentation Analysis
- Type: Increasing popularity of gummy & chewy candies for their fun shapes and vibrant colors
- Sales Channel: Growing purchase of candies at supermarkets and hypermarkets
Industry Insights
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
FPNV Positioning Matrix
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Candy Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Candy Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Recent Developments
Ferrara Candy Company to Acquire Jelly Belly Candy Company
Ferrara Candy Company, affiliated with Ferrero International, announced plans to acquire the iconic Jelly Belly Candy Company, a move facilitated through CTH Invest, Ferrara's principal holding company. This strategic acquisition will merge Jelly Belly's extensive array of over 100 jelly bean flavors and specialty gourmet confections with Ferrara's vast assortment of sugar candies.HARIBO Opens First U.S. Factory Amid Growing Gummy Interest
HARIBO GmbH & Co. KG, a confectionery company, announced the inauguration of its inaugural North American production facility in Pleasant Prairies, Wisconsin. This advanced factory, spanning over 500,000 square feet, signifies HARIBO's commitment to meeting the escalating demand for gummy treats in the U.S.Koios Launches Innovative New Gummy Bear Line “Swol Bears” Infused with Vitamin D
Koios Beverage Corp. announced its latest addition to the health-conscious snack market with its innovative Swol Bears gummy line to complement its popular Fit Soda beverages. These new gummies are ingeniously crafted with clean, natural ingredients and are enriched with vital Vitamin D, addressing the widespread concern of Vitamin D deficiency.Strategy Analysis & Recommendation
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Candy Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.Key Company Profiles
The report delves into recent significant developments in the Candy Market, highlighting leading vendors and their innovative profiles. These include AUGUST STORCK KG, Barry Callebaut AG, Burgundy Hospitality Pvt. Ltd., Chocoladefabriken Lindt & Sprüngli AG, Cloetta AB, Confiseries Mondoux Inc., Ferrero International, General Mills, Inc., HARIBO GmbH & Co. KG, Jelly Belly International, Just Born, Inc., Lotte Co., Ltd., Mars, Incorporated, Meiji Holdings Co., Ltd., Mondelez Global LLC, Morinaga & Co., Ltd., Naeem Foods, Nestlé S.A., Orion Corporation, Palmer Candy, Parle Products Pvt. Limited, Perfetti Van Melle Group B.V., pladis Foods Ltd., Quality Candy Company, Samkan Products Pvt. Ltd., Sugarfina USA LLC, Sweet Candy Company, Inc., The Hershey Company, Vidal Golosinas S.A, and Walmart Inc..Market Segmentation & Coverage
This research report categorizes the Candy Market to forecast the revenues and analyze trends in each of the following sub-markets:Type
- Chocolate Candy
- Gummy & Chewy Candies
- Hard Candies
- Lollipops
- Mints
- Powdered Candy
- Toffee, Caramels, & Nougats
Source
- Conventional
- Organic
Sales Channel
- Convenience Stores
- Direct Sales
- Online Retailers
- Specialty Candy Shops
- Supermarkets & Hypermarkets
Region
Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
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Table of Contents
1. Preface
2. Research Methodology
5. Market Insights
6. Candy Market, by Type
7. Candy Market, by Source
8. Candy Market, by Sales Channel
9. Americas Candy Market
10. Asia-Pacific Candy Market
11. Europe, Middle East & Africa Candy Market
12. Competitive Landscape
13. Competitive Portfolio
List of Figures
List of Tables
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- AUGUST STORCK KG
- Barry Callebaut AG
- Burgundy Hospitality Pvt. Ltd.
- Chocoladefabriken Lindt & Sprüngli AG
- Cloetta AB
- Confiseries Mondoux Inc.
- Ferrero International
- General Mills, Inc.
- HARIBO GmbH & Co. KG
- Jelly Belly International
- Just Born, Inc.
- Lotte Co., Ltd.
- Mars, Incorporated
- Meiji Holdings Co., Ltd.
- Mondelez Global LLC
- Morinaga & Co., Ltd.
- Naeem Foods
- Nestlé S.A.
- Orion Corporation
- Palmer Candy
- Parle Products Pvt. Limited
- Perfetti Van Melle Group B.V.
- pladis Foods Ltd.
- Quality Candy Company
- Samkan Products Pvt. Ltd.
- Sugarfina USA LLC
- Sweet Candy Company, Inc.
- The Hershey Company
- Vidal Golosinas S.A
- Walmart Inc.
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 196 |
| Published | June 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 71.84 Billion |
| Forecasted Market Value ( USD | $ 96.17 Billion |
| Compound Annual Growth Rate | 4.9% |
| Regions Covered | Global |
