Candy Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Candy is a type of confection that has sugar as a major element. The category, called sugar confectionery, encompasses any sweet confection, including chocolate, chewing gum, and sugar candy. Vegetables, fruit, or nuts which have been glazed and coated with sugar are taken as candied. Physically, candy is characterised by the use of a significant amount of sugar or sugar substitutes. Unlike a cake or loaf of bread that would be shared among many people, candies are usually considered as smaller pieces. However, the definition of candy also differs to people as for how people treat the food. Unlike sweet pastries served for a dessert course at the end of a meal, candies are normally eaten casually, often with the fingers, as a snack between meals. Each culture has its ideas of what constitutes candy rather than dessert. The same food may be candy in one culture and a dessert in another. Sugar candies are those hard candies, soft candies, caramels, marshmallows, taffy, and other candies whose principal ingredient is sugar. Commercially, sugar candies are often divided into groups according to the amount of sugar they contain and their chemical structure.

Candy Market Segments Size & Growth:

Global candy market is accounted as USD 84.65 billion in 2017 and expected to grow at a CAGR of 3.68% to reach XX billion by 2024 during the forecast period 2018-2024.

An increase in the disposable income and the urbanisation is the driving factor for the market. As the standard of living of the people is increasing, they are consuming more of these kinds of products. Rise in disposable income in the emerging economies has led the path to the growth of the market. Innovation like innovative flavours and varieties has driven the market growth. People tend to consume more as there are new varieties are available which in turn led to the growth of the market. Growing health concerns is one of the major factors which are hindering the market growth.  As people are more concerned about health, as candy intake will lead to health issues as it contains high calorie, people are less interested in having these. Government regulation is another factor on which the growth of the market is becoming slow.

Demand for premium candy has led the market growth. It is said that market has the opportunity, as people are more inclined towards the premium candy which will have the good market shortly.

Candy Market Share:

Regarding geography, the market is segmented into Asia Pacific, Europe, Middle East & Africa, North America, and South America. North America is the dominating market concerning the candy market followed by Europe. The United States has the highest demand which can be said more than 7.8 billion pounds every year, which is among the major share. Asia Pacific region has a high growth rate regarding candy market. As Asia Pacific countries having growing urbanisation, high population and increased disposable income have led the market for growth. The Asia Pacific is said to be the fastest growing market.

Regarding type, candy market is segmented majorly into chocolate candy and non-chocolate candy. Non-chocolate candy again segmented as hard rolled candies, breath sweeteners, caramels, gummies, dietetic candy, marshmallows, licorice, lollipops & sours, chewing gum, and cotton candy. Chocolate candies are made of chocolate or do contain cocoa, while non-chocolate candies don’t contain cocoa. The global candy market can be segmented regarding sales channel which can be supermarkets/ hypermarkets, convenience stores, grocery stores, online, and others.

 Candy Market Trends:

• Mar 6, 2018, Skittles have launched a new flavour called spicy skittles in the candy flavour. This is a spicy flavoured candy. This is a combination of sweet heat skittles and sweet heat starburst.
• Jan 16, 2018, Nestlé Agrees to Sell U.S. Confectionery Business to Ferrero for USD 2.8 billion in cash.

Candy Market Research Report:

• An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
• To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOTanalysis, and Y-o-Y analysis were carried out to understand the market more comprehensively.
• Regional and Global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
• Identifying DROCin the current market and their impact in altering the market dynamics
• Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors
• Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market
• Major key players are
• Arcor
• August Storck KG
• Yildiz Holding
• Nestlé SA
• Chocoladefabriken Lindt & Sprungli AG
• United Confectionary Manufacturers
• Crown Confectionery Co. Ltd.

Along with these companies, there were many other companies considered/cited in the report while analysing candy market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.