Candy Market to Grow Over USD72 Billion by 2026
Continuously
increasing population, rising disposable income, and changing taste and
preferences of consumers to drive the global candy market during the forecast
period.
According to TechSci Research
report, “Global Candy
Market By Product Type (Sugar Candy, Chocolate Candy & Gum Candy), By
Distribution Channel (Convenience Stores, Traditional Grocery Stores,
Supermarkets/Hypermarkets, Online Sales Channel & Departmental Store), By
Region, Competition, Forecast & Opportunities, 2026”, the global candy
market is expected to grow at a CAGR of more than 5% during the forecast period
on account of the rising popularity of chocolate products, increasing
disposable income and expenditure and rapid urbanization. However, rising
health consciousness might hamper the growth of the market. To deal with this,
manufacturers are coming up with sugar-free and low-calorie candies. For
instance, Sejoyia Foods has launched two new
flavors, i.e., Coconut Cashew, and Coco-Roons. Coco-Roons gives an indulgent
taste in a cookie with no refined sugar and no added gluten.
Browse 87 Figures and Tables spread through 110
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The global candy market can be segmented based on product type,
distribution channel and region. In terms of product type, the market can be
categorized into sugar candy, chocolate candy and gum candy. Among these, the sugar
candy segment is likely to record a higher growth rate due to changing consumer
preferences towards sugar-free and low-calorie candies. On the basis of
regions, the global candy market can be segmented into North America, South
America, Europe, Asia-Pacific and Middle East & Africa.
Industrial demand is likely to become severe, owing to rising consumer
health issues, fluctuating tendencies, falling
sugar prices, and increasing
incidences of dental problems due to high candy consumption. Promoting the
marketing of health-improving goods by corporations is also playing a
significant role in the market growth. As candies contain a large amount of
sugar, they are also directly linked to diabetes and obesity. The creation of
low-calorie and sugar-free candy alternatives is expected to resolve this issue.
For instance, Nestlé S.A. introduced
KitKats in various flavors such as dark chocolate and green tea to stay ahead
in the market. Moreover, the introduction of organic contents, healthy nuts,
and alcohol flavor is further fueling the growth of the global candy market.
However, due to the growing consolidation and continuous investment for the enhancement
of candy products by prominent
multinational corporations, the success of the worldwide candy industry is
expected to gain momentum. Candy manufacturers are also likely to create
healthy substitutes for candies to moderate the adverse awareness of the customers.
North America is projected to hold the largest market share in the
global candy market by 2026, owing to the existence of key players in the
region, as well as a large
customer base for the candy market.
Asia-Pacific is likely to witness the highest revenue growth, owing to
fluctuations in eating habits, lifestyles and rising population with increasing
consumption of candies, especially in China and India.
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Perfetti
Van Melle Group, Mondelez International, Inc., The Hershey Company, Mars,
Incorporated, Nestlé S.A., Crown Confectionery Co., Ltd., Kellogg Company,
Grupo Arcor S.A., Lotte Confectionery Co., Ltd., and Meiji Holdings Co., Ltd. are
some of the leading players operating in the global candy market. Major candy
companies are expanding their manufacturing bases to meet the rising demand
across developing countries in North America, APAC, Middle East & Africa,
and South America.
The global candy market is
competitive in nature with the presence and minimal market share of domestic
companies in countries such as China and India. Above all other aspects, launching
of a new product has become the most critical strategy, due to the rapidly
changing nature, taste and preferences of the consumers. Also, businesses have
embraced growth through mergers and acquisitions by multinational companies,
which has proven to be successful in making their presence stronger. It can also be a great opportunity
for the key players to grow their sales by adding value ingredients and other
nutrients in candies.
“The global candy market is anticipated to grow over 5% during the next
five years due to growing consumer base and increasing disposable income.
Moreover, product innovation and high demand for candies during the festive
season are further anticipated to positively influence the growth of the market
through 2026.” said Mr.
Karan Chechi, Research Director with TechSci Research, a research-based global
management consulting firm.
“Global Candy Market By Product Type (Sugar Candy, Chocolate
Candy & Gum Candy), By Distribution Channel (Convenience Stores,
Traditional Grocery Stores, Supermarkets/Hypermarkets, Online Sales Channel
& Departmental Stores), By Region, Competition, Forecast &
Opportunities, 2026” has
evaluated the future growth potential of the global candy market and provides
statistics and information on market size, structure and future market growth. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global candy market.
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