Candy Market Global Industry Analysis, size, share and Forecast 2020-2027

 

The GMI Research forecasts that the candy market is witnessing an upsurge in demand during the forecast period starting from 2020 till 2027. This is mainly due to the increasing popularity of dark chocolate, followed by the rising disposable income of people.

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Top Manufacturers in the Candy Market:

·        Perfetti Van Melle Group B.V.

·        Mondelez International, Inc.

·        Mars, Incorporated

·        Haribo GmbH & Co. KG

·        Nestle S.A.

·        The Hershey Company

·        Ferrero Group

·        Lotte Confectionery Co. Ltd

·        Cloetta Ab

·        Grupo Arcor

Candy Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)

Key Drivers

The global candy market is predicted to witness an upsurge in demand during the forecast period due to the increasing popularity of dark chocolate, followed by the rising disposable income of people. As per candy market research, the rising demand for candies among the young population and children will further propel the growth of the candy market share in terms of revenue globally. According to candy market analysis, there has been an upsurge in demand for candies due to the easy availability of numerous types of candies in the market across the world. The increasing innovation in products due to the rising demand for chocolate products will surge the demand for the market at a global level. Major manufactures are emphasizing on launching low calorie and sugar-free candies driven by rising health concerns among the population, which will bring various growth opportunities for the market during the forecast period. The significantly changing consumers' preferences and tastes in developed and developing countries will further bolster the growth of the candy market size. On the other hand, the factors hampering the growth of the candy market include increasing health awareness among the people and growing concerns regarding obesity and diabetes among consumers.

Regional Drivers

Based on the region, the North America region is expected to dominate the market due to the increased spending of consumers, followed by the rapid urbanization in the US. Moreover, the growing availability of numerous kinds of candies in chocolate and non-chocolate candies will enhance the demand for candies among the children, thus energizing the market growth in the region. On the other hand, the Asia-Pacific region is anticipated to grow at a higher CAGR over the forecast period due to the growing population base and the increasing disposable income, which has changed the eating habits of consumers.

Candy Market Segmentation:

Segmentation by Product Type:

·        Chocolate Candy

·        Non-Chocolate Candy

o   Hard Boiled Candies

o   Pastilles, Gums, Jellies and Chews

o   Toffees, Caramels and Nougat

o   Mints

o   Others

Segmentation by Distribution Channel:

·        Supermarkets/Hypermarkets

·        Convenience Stores

·        Online

·        Others

Segmentation by Region:

·        North America

o   United States of America

o   Canada

 

·        Asia Pacific

o   China

o   Japan

o   India

o   Rest of APAC

·        Europe

o   United Kingdom

o   Germany

o   France

o   Spain

o   Rest of Europe

·        RoW

o   Brazil

o   South Africa

o   Saudi Arabia

o   UAE

o   Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is a leading market research company that offers market research reports for every industry. Our research teams have seasoned analysts and researchers and are always looking for industry-leading research techniques to create all-encompassing research reports. GMI Research's extensive global network allows it to collect relevant information about the industry on a regional as well as country-level basis. Our main focus is to keep our clients abridged of the emerging opportunities and challenges in a wide range of sectors. We provide step-by-step assistance to our clients through strategic and consulting services to reach a managerial and actionable decision. Our market research report offers in-depth analysis, which contains refined forecasts, a bird's eye view of the competitive landscape, major factors impacting the market growth, and various market insights to aid companies to make strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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