Candy Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Candy Market is Segmented by Type (Chocolate Candy and Non-chocolate Candy), Distribution Channel (Supermarkets/Hypermarkets, Specialist Stores, Convenience Stores, Online Retail, and Other Distribution Channels), and Geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa). The report offers market size and forecasts for candy in value (USD million) for all the above segments.

Market Snapshot

Candy Market Overview
Study Period: 2016 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: Europe
CAGR: 3.99 %

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Market Overview

The candy market is projected to register a CAGR of 3.99% during the forecast period, 2021-2026.

Over the last year, the coronavirus had impacted every industry, and that includes the confectionery and candy industry as well, although only for the short term. Early sales data of the candy market across the globe registered a steep decline in the gums and mint category as a result of COVID-19, while chocolate candy, as well as non-chocolate candy, continues to attain strong growth.

The growing availability of different varieties of candies, both chocolate and non-chocolate candies, has led to the high demand for candies, fueled by the impulsive purchase behavior of consumers. Consumers in New England and the Midwest tend to eat the most candy. Nationwide consumption peaks around Halloween, Christmas, Valentine’s Day, and Easter.

COVID-19 also brought massive changes to the retail side of the candy industry. More consumers started using online ordering for groceries, ranging from click-and-collect to home delivery. The Hershey Company stated that its e-commerce sales were up significantly, with growth over 120% in March 2020, versus 60% in January 2020 and February 2020.

Candy products have acquired a prominent place in households across the globe due to COVID-19 lockdown implementations and lockdown extensions. The preference for sweet indulgence has increased due to more consumers working from home. Furthermore, the change in traditional patterns of food consumption may also open a pathway for innovation across the candy market across the globe as countries are recovering from the impact of the global pandemic.

Scope of the Report

Candy, also called sweets or lollies, is a confection that features sugar as a principal ingredient. Based on type, the candy market is segmented into chocolate candy and non-chocolate candy. The non-chocolate candy segment is further segmented into hard-boiled sweets, toffees, caramels, and nougat, pastilles, gums, jellies, and chews, mints, and other non-chocolate candies. The other types of non-chocolate candies include licorice, lollipops, and medicated confectionery. Based on distribution channel, the market is segmented into supermarkets/hypermarkets, convenience stores, specialist retailers, online retail, and other distribution channels. To provide a broader perspective, the market is studied for potential and promising countries across different regions such as North America, Europe, Asia-Pacific, South America, and Middle-East and Africa. For each segment, the market sizing and forecasts have been done on the basis of value (in USD million).

By Type
Chocolate Candy
Non-chocolate Candy
Hard Boiled Candies
Pastilles, Gums, Jellies, and Chews
Toffees, Caramels, and Nougat
Mints
Other Non-chocolate Candies
By Distribution Channel
Supermarkets/Hypermarkets
Convenience Stores
Specalist Retailers
Online Retail
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
France
Russia
Italy
Spain
Rest of Europe
Asia-Pacific
India
China
Australia
Japan
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
United Arab Emirates
South Africa
Rest of Middle-East and Africa

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Key Market Trends

The Non-chocolate Segment Holds the Largest Share of the Market

Non-chocolate candies are observing high growth in the global market, owing to the recent developments in the candy flavors, their appearance, and mouth-feel. The majority of the manufacturers are focusing on product development in line with the organic food culture across the world. Further, due to constant emphasis on clean-labeled products and stricter government regulations on the amount of sugar content in food products, organic, vegan, GMO-free, sugar-free, and kosher food colors, sweeteners, and other ingredients are being used to manufacture non-chocolate candies, which is likely to contribute to the growth of the category.

Candy Market Share

Emerging Economies are Driving the Candy Sales

Asia-Pacific leads the global candy sales, followed by North America. The target populations for the candy market are primarily children and the young population. The growing population in emerging economies has led to the high demand for candies, fueled by the impulsive purchase behavior of consumers. In developing economies, such as Asia, Africa, and South America, the per capita candy consumption, which was very low compared to their western counterparts, is slowly increasing. Many countries are witnessing campaigns and media advertisements related to innovative candy products, which are directly impacting the sales rate of sugar-based confectionery. Companies are increasingly launching products with innovative flavors such as raw mango, tamarind, strawberry, etc., to attract consumers in these emerging markets.

Candy Market Size

Competitive Landscape

Based on the nature of the market and with virtually no entry barriers, the candy market globally is very competitive with a huge number of domestic companies capturing minimal share in the market. Some of the prominent players include Perfetti Van Melle Group BV, Mondelez International Inc., Mars Incorporated, The Hershey Company, and others. Owing to the rapidly developing nature of the market, launching a new product has become the most important strategy, among all. Companies have adopted expansion as the key strategy, followed by mergers and acquisitions. This attempt of global players has proven successful in making their presence stronger with high market shares.

Recent Developments

In 2020, Perfetti Van Melle USA Inc. launched its first soft gummy product in the United States under the Fruit-tella brand, which has strong roots in Europe. Fruit-tella Soft Gummies have real fruit puree and are made with pectin instead of gelatin. Available in Strawberry and Raspberry and Peach and Mango varieties, each gummy has a playful fruit character shape.

In 2019, following the success of M&M’S Block in the United States and Australia, Mars Wrigley United Kingdom announced its plan to expand its four brand-new M&M’S block variants to the UK market – Chocolate, Crispy, Hazelnut, and Peanut.

In 2018, Perfetti Van Melle India launched Center Fresh Mints, an offering that expands the Center Fresh brand into the mint candy segment.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Chocolate Candy

      2. 5.1.2 Non-chocolate Candy

        1. 5.1.2.1 Hard Boiled Candies

        2. 5.1.2.2 Pastilles, Gums, Jellies, and Chews

        3. 5.1.2.3 Toffees, Caramels, and Nougat

        4. 5.1.2.4 Mints

        5. 5.1.2.5 Other Non-chocolate Candies

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarkets/Hypermarkets

      2. 5.2.2 Convenience Stores

      3. 5.2.3 Specalist Retailers

      4. 5.2.4 Online Retail

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 France

        4. 5.3.2.4 Russia

        5. 5.3.2.5 Italy

        6. 5.3.2.6 Spain

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia-Pacific

        1. 5.3.3.1 India

        2. 5.3.3.2 China

        3. 5.3.3.3 Australia

        4. 5.3.3.4 Japan

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle-East and Africa

        1. 5.3.5.1 United Arab Emirates

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle-East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Market Share Analysis

    3. 6.3 Strategies Adapted by Leading Companies

    4. 6.4 Company Profiles

      1. 6.4.1 Perfetti Van Melle Group BV

      2. 6.4.2 Mondelez International Inc.

      3. 6.4.3 Mars Incorporated

      4. 6.4.4 Haribo GmbH & Co. KG

      5. 6.4.5 Nestle SA

      6. 6.4.6 The Hershey Company

      7. 6.4.7 Ferrero Group

      8. 6.4.8 Cloetta Ab

      9. 6.4.9 Grupo Arcor

      10. 6.4.10 The Topps Company Inc.

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  8. 8. IMPACT OF COVID-19 ON THE MARKET

**Subject to Availability

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Frequently Asked Questions

The Global Candy Market market is studied from 2016 - 2026.

The Global Candy Market is growing at a CAGR of 3.99% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

Europe holds highest share in 2020.

The Hershey Company, Nestle SA, Perfetti Van Melle Group B.V., Mondelez International, Inc., Mars, Incorporated are the major companies operating in Global Candy Market .

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