Market Size of Bangladesh Candy Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 8.53 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Bangladesh Candy Market Analysis
Bangladesh's candy market is expected to register a CAGR of 8.53% during the forecast period.
- COVID-19 impacted the candy industry, although only for the short term, as the governments imposed multiple measures intended to slow down the spread of the virus. COVID-19 also brought massive changes to the retail side of the candy industry in Bangladesh as more consumers started using online ordering for groceries, ranging from click-and-collect to home delivery. Due to more consumers working from home, there has been a rise in the appetite for sweet indulgence. The shift in traditional patterns of food consumption may also open a pathway for innovation across the candy market across the country as the nation.
- The inclusion of ingredients that provide functional benefits, such as improving digestion systems and increasing consumer awareness about the benefits of consuming natural fruit extracts, is driving the market. With the high acceptance among the Bangladeshi population of new flavors, such as coffee, caramel, etc., the key players in the market are trying to come up with new flavors, which is also expected to drive the market over the forecast period. Moreover, additional functional benefits include mouth-freshening elements such as mint and other ingredients that attract consumers in the market for their taste and freshness imparting nature.
- High sugar content related to obesity is a severe concern among consumers. Consumers are looking for healthier options, such as low-calorie, high-cocoa, and functional ingredient-based confectionery. Unit packaging and bulk offerings of candies tend to attract consumers. Players tend to distribute these products in local convenience stores, grocery stores, supermarkets, and other mediums where the penetration of these products is high. Moreover, these stores tend to display these products on their cash counters to encourage consumers to make impulse unit purchases. This penetration plays an important role in the market and contributes to the majority of sales of candies across the country.
