|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
Need a report that reflects how COVID-19 has impacted this market and its growth?
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 Distribution Channel|
|Other Distribution Channels|
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.
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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.
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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.
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 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Type
5.1.1 Chocolate Candy
5.1.2 Non-chocolate Candy
22.214.171.124 Hard Boiled Candies
126.96.36.199 Pastilles, Gums, Jellies, and Chews
188.8.131.52 Toffees, Caramels, and Nougat
184.108.40.206 Other Non-chocolate Candies
5.2 By Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specalist Retailers
5.2.4 Online Retail
5.2.5 Other Distribution Channels
5.3.1 North America
220.127.116.11 United States
18.104.22.168 Rest of North America
22.214.171.124 United Kingdom
126.96.36.199 Rest of Europe
188.8.131.52 Rest of Asia-Pacific
5.3.4 South America
184.108.40.206 Rest of South America
5.3.5 Middle-East and Africa
220.127.116.11 United Arab Emirates
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Market Share Analysis
6.3 Strategies Adapted by Leading Companies
6.4 Company Profiles
6.4.1 Perfetti Van Melle Group BV
6.4.2 Mondelez International Inc.
6.4.3 Mars Incorporated
6.4.4 Haribo GmbH & Co. KG
6.4.5 Nestle SA
6.4.6 The Hershey Company
6.4.7 Ferrero Group
6.4.8 Cloetta Ab
6.4.9 Grupo Arcor
6.4.10 The Topps Company Inc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. IMPACT OF COVID-19 ON THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Global Candy Market market is studied from 2016 - 2026.
What is the growth rate of Global Candy Market ?
The Global Candy Market is growing at a CAGR of 3.99% over the next 5 years.
Which region has highest growth rate in Global Candy Market ?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Global Candy Market ?
Europe holds highest share in 2020.
Who are the key players in Global Candy Market ?
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 .