Global Candy Market – Industry Trends and Forecast to 2029

Global Candy Market, By Type (Hard-Boiled Sweets, Mints, Gums and Jellies, Chocolate, Caramels and Toffees, Medicated Confectionery, Fine Bakery Wares, Others), Age Group (Children, Adult, Geriatric), Price Point (Economy, Mid-Range, Luxury), Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical and Drug Stores, Food Services, Duty-Free Outlets, E-Commerce, Others)– Industry Trends and Forecast to 2029

Market Analysis and Size

Candy are confectionary products and the sugar is the primary ingredient. While the leading target audience for candies is the children and young population. It is enjoyed by people of all age groups overall the globe. Increasing modernization, westernization, and growing personal disposable income are the main factors which is fostering the growth of candy market. Ever-rising young population and growing popularity of dark chocolate are some other indirect factors for the growth of the candy market growth. 

Data Bridge Market Research analyses that the candy market was valued at USD 226.38 billion in 2021 and is expected to reach USD 308.39 billion by 2029, registering a CAGR of 3.94% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.     

Market Definition

Candy is also called confectionery sweet food product. The main ingredient of the candy e is sugar. Candies are made with a combination of chocolate, milk, nuts, fruits, and artificial sweeteners and it comes in the shape of small pieces, drops and bars. There are certain candies with minerals and vitamins which provide protein value that can help in bodybuilding. Consumers who have a hectic schedule commonly opt for candies as a small snack it requires less time for consumption and can be enjoyed during breaks

Report Scope and Market Segmentation

Candy Market Dynamics

Drivers

• Rising demand for sugar free candies

Increased health consciousness, rise the desire for low sugar chocolates or confectionery items, sugar free candies has gained commercial popularity in current years. Increase the demand for sugar free candies among the general public due to increase in the number of people which is experiencing a sugar rush after eating chocolates with a high sugar content. The demand for the sugar free candies are expected to increase the growth of the candy market globally.

• Presence of large number of varieties

The rising availability of different types of candies such as both non-chocolate and chocolate candies in the market has led to the increase demand for candies which has fuelled by the impulsive purchase behaviour of customers. The changing preferences and tastes of the consumers in developing economies have led to a significant upsurge in the sales of candy overall the globe. 

• Huge demand for chocolate candy

The rising demand for chocolate candies have dominated the market due to the health benefits associated with chocolate. Chocolate candies are extremely preferred by all age group people. Chocolate flavour has several health benefit like it helps in dropping the mortality rates, and also helps in treating diseases such as depression and bronchitis. Furthermore, dark chocolates possess huge health benefits due to the presence of cocoa content. It helps to maintain blood flow in the body and eases overall blood vessel functionality.

Opportunities

The continuously growing development and increasing expenditure capacity of consumers are the important factors to create beneficial opportunity for the candy market. The extensively held candies are made for both children and the young population. The demand for the candy is mostly driven by consumer tastes, population growth and inclinations. Enormous multinational companies have a substantial advantage over medium scale companies, in terms of economies in manufacturing and buying. Production of candy with less sugar additives can generate great revenue generation opportunities for significant market players in the candy market. Moreover, the addition of valued components and other nutrients and mineral in candies can be a great opportunity for major players to upsurge their revenue and market share. Moreover, increase in emerging new markets will also act as market drivers and further increase the beneficial opportunities for the market's growth rate.

Restraints/ Challenges

However, high sugar content in candies increasing the occurrence of dental problems due to high consumption of candies and lead to weight gain are the major factors which are hampering the growth of the global candy market. Moreover, growing health consciousness among general population is anticipated to reduce the demand for candies and it is also anticipated to hinder the growth of the market during forecast period.

This candy market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the candy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on Candy Market

The outbreak of COVID-19 has adversely impacted on the confectionery market. The stringent rules and lockdown during pandemic have led to consequences in the confectionery business that caused differential impact on the supply of the raw material such as agricultural produce, intermediate food products, food ingredients, and trade & logistics, uncertain consumer demand, demand-supply volatility, and affected the workforce at industrial level. One of the main factors which affected the confectionery industry during epidemic was decline in sales decline as a result of decrease gifting and impulse buying among customers across the world. But the online shopping increased the demand of the candies during coronavirus.  

Recent Development

• In 2021, Russell Stover Chocolates has propelled Joy Bites which is a collection of Fairtrade chocolate bars which has and organic ingredients with non-GMO and no added sugar.
• In 2020, Perfetti Van Melle USA Inc. in U.S propelled its first soft gummy product in the under the Fruit-tella brand, which has strong roots in Europe. Fruit-tella Soft Gummies are made with pectin instead of gelatin and it have real fruit puree. It is also available in Raspberry, Peach, Strawberry and Mango varieties, each gummy has a playful fruit character shape.

Global Candy Market Scope

The candy market is segmented on the basis type, age group, price point and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Hard-Boiled Sweets
• Mints
• Gums and Jellies
• Chocolate
• Caramels and Toffees
• Medicated Confectionery
• Fine Bakery Wares
• Others

 Age Group

• Children
• Adult
• Geriatric

Price Point

• Economy
• Mid-Range
• Luxury

 Distribution Channel

• Supermarket/Hypermarket
• Convenience Stores
• Pharmaceutical and Drug Stores
• Food Services
• Duty-Free Outlets
• E-Commerce
• Others

Candy Market Regional Analysis/Insights

The candy market is analysed and market size insights and trends are provided by country, type, age group, price point and distribution channel and end-user as referenced above.

The countries covered in the candy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the candy market in terms of market share during the forecast period. This is due to the increasing demand for candy in this region. North America region dominates the candy market due to the rising popularity of chocolate based confectionary items, rising product launches by the major players and presence of major market players in this region.

During the projected period, Asia-Pacific is anticipated to be the fastest developing region due to rapid globalization, westernization, modernization, increasing personal disposable income, and growing children and the young population are some main factors for market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Candy Market Share Analysis

The candy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to candy market.

Some of the major players operating in the candy market are:

• Ferrero (Italy)
• Meiji Holdings Co., Ltd (japan)
• THE HERSHEY COMPANY (US)
• Quality Candy Company (US)
• Nestlé (Switzerland), Cloetta (Sweden)
• General Mills Inc. (US)
• Mondelez International (US)
• Mars, Incorporated (US)
• pladis global (UK)
• LOTTE CONFECTIONERY CO.LTD (South Korea)
• Storck (German)
• Perfetti Van Melle (Netherland)
• Candy Rush Muskoka (Canada)
• HARIBO GmbH & Co. KG (Germany)
• Arcor, (Argentina)
• Sweet Candy Company (US)
• THE BANG CANDY COMPANY, (US)
• Palmer-candy (US)
• SUGARFINA USA LLC (US)
• Jelly Belly Candy Company (US)