Candy Market
Candy Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, Gum), By Form (Hard Candy, Soft Candy, Lollipops), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail), By End-User (Children, Adults, Geriatric), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031.
Report Highlights:
The global candy market is predicted to grow at a 3.8% CAGR, from USD 167.2 billion in 2022 to USD 223.5 billion by 2031. Asia-Pacific is most anticipated to dominate the market during the defined time period.
Rising disposable incomes, innovative product releases, and altering consumer preferences all contribute to the confectionery sector's consistent growth. Manufacturers are focussing on developing unique flavours and superior replacements to meet the diverse tastes of health-conscious consumers. The introduction of e-commerce and digital marketing tactics is also assisting the industry's growth by increasing product visibility and accessibility.
Market Dynamics:
Market Trends: demand for expensive, handcrafted sweets
Consumers looking for distinctive and elegant confectionery experiences are starting to choose handcrafted, superior sweets. A taste for luxury, gift-giving, and the attractiveness of handmade, small-batch items help to drive this trend in some measure. To set their offerings apart, crafty candy producers are experimenting with unusual tastes, natural ingredients, and creative packaging.
The premium market is also benefiting from social media as visually appealing and Instagram-worthy sweets grab attention and boost sales.
Market Driver: Changing lifestyle and more disposable spending helps to fuel the market
Rising disposable income especially in developing countries is driving the expansion of the confectionery industry. Consumers are more inclined to indulge in discretionary spending including confectionary items when their buying power increases. Changing lifestyles—busier schedules and on-the-go eating patterns—are also driving higher confectionery consumption among other things.
Individual wrapped candies and convenience-sized packaging fit this trend and let customers enjoy sweets as fast snack or energy boost all day.
Market Restraint: Growing awareness of health issues and worries about sugar intake
Growing knowledge of health problems connected to too high sugar intake tests the confectionery sector. Driven toward obesity, diabetes, and oral health problems are consumers searching for more health-conscious behavior and active desire to minimize sugar consumption.
Candy companies have been encouraged to reformulate their goods and adjust consumer tastes toward better snack options by this trend. While still keeping confectionery products appealing, the sector is reacting to health concerns by creating sugar-free replacements, employing natural sweeteners, and adding helpful ingredients.
Segment Overview:
Rich taste and adaptability let chocolate candy identify itself as the industry leader.
Driven by its extraordinary flavor and adaptability, chocolate candies continue to be the top sector worldwide in the industry. Strong market position of chocolate may be explained by rich taste experience and potential health advantages like antioxidants in dark chocolate.
Manufacturers are creating high quality ingredients, creative flavor combinations, and beneficial enhancements to meet different customer tastes and health-conscious inclinations.
Regional Outlook:
Asia-Pacific is steering the confectionery market with fast development and changing consumer behavior accompanied by fast economic expansion. Driven by fast economic expansion, urbanization, and changing consumer behavior, the Asia-Pacific region is likely to dominate the worldwide candy market throughout the projected period.
Countries like China and India are major players in the expansion of the sector with their enormous populations and rising middle-class sections. Rising understanding of Western confectionery items and higher local disposable incomes boost demand for both conventional and creative candy offers. To capture more of the market, local producers are also expanding the variety of products they provide and the means of distribution they use. Moreover, the popularity of customizing many Asian nations helps the growth of the local market by supporting the production of luxury and seasonal confectionery items.
Competitive Landscape:
Local businesses and international companies fight for market share in the ever competitive global confectionery industry. Important tactics used by businesses include product innovation, mergers and acquisitions, and growing distribution networks. To solve mounting health issues, big corporations are focused on creating better substitutes including organic and sugar-free products. Particularly in industrialized nations, private label products are notably becoming very popular.
To boost brand recognition and draw more business, the corporation is progressively spending more in digital marketing and e-commerce systems. Increasingly vital for businesses trying to maintain a competitive advantage and appeal to customers who care about the environment are sustainability programs involving responsible sourcing and ecologically friendly packaging.
Key Players:
- Mars, Incorporated
- Mondelez International, Inc.
- Nestlé S.A.
- Ferrero Group
- The Hershey Company
- Perfetti Van Melle Group B.V.
- Haribo GmbH & Co. KG
- Lindt & Sprüngli AG
- Meiji Holdings Co., Ltd.
- Grupo Arcor
- Lotte Confectionery Co., Ltd.
- Tootsie Roll Industries, Inc.
Key Developments:
-
Mars, Incorporated unveiled a new range of plant-based chocolate confectionary in 2023 to serve the rising flexitarian and vegan customer base.
-
By purchasing a controlling share in a luxury confectionery category premium chocolate business in 2022, Mondelez International enhanced its reputation in that field.
1. INTRODUCTION
1.1. Market Definition
1.2. Study Scope
1.3. Currency Conversion
1.4. Study Period (2022- 2031)
1.5. Regional Coverage
2. RESEARCH METHODOLOGY
2.1. Primary Research
2.2. Secondary Research
2.3. Company Share Analysis
2.4. Data Triangulation
3. EXECUTIVE SUMMARY
3.1. Global Candy Market (2018 – 2022)
3.2. Global Candy Market (2023 – 2031)
3.2.1. Market Segment By Type (2023 – 2031)
3.2.2. Market Segment By Form (2023 – 2031)
3.2.3. Market Segment By Distribution Channel (2023 – 2031)
3.2.4. Market Segment By End-User (2023 – 2031)
4. MARKET DYNAMICS
4.1. Market Trends
4.1.1. Growing demand for premium and artisanal candies
4.1.2. Rise of functional and health-oriented candy products
4.1.3. Increasing popularity of nostalgic and retro candy brands
4.2. Market Drivers
4.2.1. Increasing disposable income and changing lifestyles
4.2.2. Expansion of e-commerce and digital marketing strategies
4.2.3. Innovation in flavors and product formulations
4.3. Market Restraints
4.3.1. Growing health consciousness and concerns about sugar consumption
4.3.2. Regulatory challenges and sugar taxes
4.4. Porter's Five Forces Analysis
4.4.1. Threat of New Entrants
4.4.2. Bargaining Power of Buyers/Consumers
4.4.3. Bargaining Power of Suppliers
4.4.4. Threat of Substitute Products
4.4.5. Intensity of Competitive Rivalry
4.5. Supply Chain Analysis
4.6. Pricing Analysis
4.7. Regulatory Analysis
4.8. Pipeline Analysis
5. BY TYPE (MARKET VALUE (US$ MILLION) – 2022-2031*)
5.1. Chocolate
5.2. Sugar
5.3. Gum
6. BY FORM
6.1. Hard Candy
6.2. Soft Candy
6.3. Lollipops
7. BY DISTRIBUTION CHANNEL
7.1. Supermarkets/Hypermarkets
7.2. Convenience Stores
7.3. Online Retail
8. BY END-USER
8.1. Children
8.2. Adults
8.3. Geriatric
9. GEOGRAPHY
9.1. North America
9.1.1. United States
9.1.2. Canada
9.1.3. Mexico
9.2. South America
9.2.1. Brazil
9.2.2. Argentina
9.2.3. Rest of South America
9.3. Europe
9.3.1. Germany
9.3.2. United Kingdom
9.3.3. France
9.3.4. Italy
9.3.5. Spain
9.3.6. Russia
9.3.7. Rest of Europe
9.4. Asia-Pacific
9.4.1. China
9.4.2. Japan
9.4.3. India
9.4.4. Australia
9.4.5. South Korea
9.4.6. Rest of Asia-Pacific
9.5. Middle-East
9.5.1. UAE
9.5.2. Saudi Arabia
9.5.3. Turkey
9.5.4. Rest of Middle East
9.6. Africa
9.6.1. South Africa
9.6.2. Egypt
9.6.3. Rest of Africa
10. COMPETITIVE LANDSCAPE
10.1. Key Developments
10.2. Company Market Share Analysis
10.3. Product Benchmarking
11. SWOT ANALYSIS
12. COMPANY PROFILES
12.1. Mars, Incorporated
12.2. Mondelez International, Inc.
12.3. Nestlé S.A.
12.4. Ferrero Group
12.5. The Hershey Company
12.6. Perfetti Van Melle Group B.V.
12.7. Haribo GmbH & Co. KG
12.8. Lindt & Sprüngli AG
12.9. Meiji Holdings Co., Ltd.
12.10. Grupo Arcor
12.11. Lotte Confectionery Co., Ltd.
12.12. Tootsie Roll Industries, Inc. (*LIST NOT EXHAUSTIVE)
13. MARKET OPPORTUNITIES
By Type:
- Chocolate
- Sugar
- Gum
By Form:
- Hard Candy
- Soft Candy
- Lollipops
By Distribution Channel:
- Supermarkets/Hypermarkets
- Convenience Stores
- Online Retail
By End-User:
- Children
- Adults
- Geriatric
By Region:
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East & Africa
Frequently Asked Questions
We at Aurorawave Intellects Market Report gives total market analysis that suit our customer business need and permit decision maker to run organizations without any problem. We have accomplished greatness in giving start to finish market research arrangements. Our detachment of industry specialists accumulate key data and get ready substance that lines up with our customer's business/specialty.
We at aurorawaveintellects.com offer mainly 3 types of licenses:
• Single User: Research Report copy can be distributed to a single user only
• Multi User: Research Report distribution is restricted up to 5 users.
• Corporate License :Research Report can be distributed across the company.
Based on the nature of the topic or research, the formats vary. The different formats of the report are as following:
• Word Document
• PPT
Following modes are available for making the payment:
• Online Payment (Visa Card, Master Card, Stripe)
• Razorpay
• Net Banking
• Bank Wire Transfer
Our customer service and research specialist team are available by phone and by email. Customer service hours are 24X7 Indian Standard Time (IST). You may reach us at:
• Email: info@aurorawaveintellects.com
• United Kingdom: ++91 7382742511