/
Global Candy Market- Industry Trends & Forecast Report 2027 Global Candy Market- Industry Trends & Forecast Report 2027

Global Candy Market- Industry Trends & Forecast Report 2027 - PDF document

Paritosh
Paritosh . @Paritosh
Follow
343 views
Uploaded On 2021-06-09

Global Candy Market- Industry Trends & Forecast Report 2027 - PPT Presentation

global candy market was worth USD 2098 billion in 2020 According to the study the market is expected to grow at the CAGR of 42 during 20212027 ID: 838512

Cholocate Candy Non-Chocolate Candy Hard Rolled Candy Breath Sweeteners Caramels Gummies Dietic Candy Marshmallow

Share:

Link:

Embed:

Download Presentation from below link

Download Pdf The PPT/PDF document "Global Candy Market- Industry Trends & F..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.


Presentation Transcript

Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 Global Candy Market - Industry Trends & Forecast Report 2027 Summary Global Candy Market, By Type (Cholocate Candy, Non - Chocolate Candy, Hard Rolled Candy, Breath Sweeteners, Caram els, Gummies, Dietic Candy, Marshmallows, Licorice, Lollipops & Sours, Chewing Gums, Cotton Candy, and Others); By Distribution Channel (Convenience Stores, Traditional Grocery Stires, Supermarkets/Hypermarkets, Online Sales Channel, Departmental Stores, a nd Others); By Region (North America, Europe, the Asia - Pacific, Latin America, and Middle - East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2017 - 2027 A recent study conducted by the strategic consulting and market research firm, BlueWeav e Consultin g revealed that the global candy marke t was worth USD 209.8 billion in 2020. According to the study, the market is expected to grow at the CAGR of 4.2% during 2021 - 2027 (forecast period), earning revenue of around USD 278.9 billion by the end of 2027. The change in traditional patterns of food c onsumption, working from home, innovation in candies and rising demand for dark chocolates are some of the factors propelling the global candy market forward. According to National Confectioners Association (NCA) data, between mid - March and August 2020, ca ndy sales increased by 3.8%, while chocolate sales increased by 5.5% with premium chocolate sales increasing by 12.5%. Furthermore, over the same time span, candy sales increased by 17%, chocolate sales increased by 18%, and premium chocolate sales increas ed by nearly 21% in grocery stores . View report Press release Sample report Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 The global candy market was worth USD 209.8 billion in 2020. According to the study, the market is expected to grow at the CAGR of 4.2% during 2021 - 2027 (forecast period), earning revenue of around USD 278.9 billion by the end of 2027 . Some factors contributing to the growth of the market are the growing demand for candies globally, the growth in product innovations, the rise in demand for chocolates globally, the rise in product developments, the rise in demand from th e young age demographic, the increasing demand for sugar - free, low - calorie candies, and the emergence of new product offerings. Aside from that, the market is also facing a number of challenges, including increasing government restrictions, shifting custom er tastes, and health concerns, all of which could impede the g rowth of the global candy market . Global Candy Market Overvie w Candies, popularly known as lollies, are usually made from sugar, which is a key ingredient in the production of candies. These come in a variety of forms, sizes, and colors. Colors and flavors are typically applied to candies to give them a distinct color and taste. Jellies, toffies, gummies are some of the examples of candies that are in high dem and during festive seasons. Candy consumption spikes during celebrations such as Halloween, Christmas, Easter, and New Year. Aside from that, candies are becoming increasingly popular as gifts these days. Confectionaries and candies are often used intercha ngeably . Global Candy Market Forecast and Trend s Growth Driver s Increasing Disposable Income will Fuel the Marke t With the rise in the living standards of middle - class consumers, emerging markets have observed categories like candies to report huge spending of disposable income. The demand for candies has always been strong during the time of festivities in developed countries, but due to improved lifestyles, even developing countries have seen exponential growth in consumerism. Furthermore, the modernization of the e - commerce industry and websites is also aiding the growth of the global candy market. Customers' increa sing spending power is another important factor driving the global candy market forward . Innovation in Product s Due to the changing preferences of the population, the candy market always hustles to bring new flavors and textures that can satisfy consumer’s taste buds. For instance, in December 2020, Jelly Belly, a US - based candy company, introduced a line of vegan gummy candies that do not contain gelatin. Apple, Berry, Lemon, Orange, and Very Cherry are among the five flavors available in the vegan line. B esides these, in April 2021, Pecan Deluxe candy launched Popping Boba — tiny, juice - filled spheres encased in an edible shell that explodes with flavors. It is the latest addition to Pecan Deluxe Candy Company's product lineup . Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 Restrain t s Rising Health Conc er n Apart from their delicious taste, candies are unquestionably a recognized cause for many diseases such as diabetes, and obesity due to their high sugar which is harmful to health. According to Our World In Data, a project of the Global Change Data La b , obesity was responsible for 8% of global deaths in 2017. Moreover, one in every five children and adolescents worldwide is overweight. Aside from that, there has been a significant rise in public health awareness. Physical fitness has become a must as a r esult of the pandemic, as a result of which a section of people prefers avoiding sugar - filled candies. Some other harmful effects of candies are tooth decay, which is exacerbated when sweets get trapped between teeth, Excessive candy intake can also caus e blood glucose levels to fluctuate rapidly. Thus, the aforementioned factors are limiting the market growth to a great extent . Impact of COVID - 19 on Global Candy Marke t No industry has been left untouched by COVID - 19 and this includes the candy industry a s well. Sales and production reported a steep decline due to the shutdown of manufacturing units. The mint and gums category suffered a setback too; nevertheless, chocolate confectioneries continue to rise in demand because it has become a necessary indulg ence for people working from home during the ongoing pandemic. The market for dark chocolate is witnessing unprecedented growth owing to the impulsive purchase behavior of consumers . As a result, COVID - 19 had only a short - term effect on the global candy in dustry . Global Candy Market - By Typ e Based on type, the global candy market is bifurcated into chocolate candy, non - chocolate candy, hard rolled candy, breath sweeteners, caramels, gummies, deictic candy, marshmallows, licorice, lollipops, sours, chewing g ums, cotton candy. Among these, the non - chocolate category accounts for the lion's share of the market. This can be attributed to the availability of multiple candy flavors, their appearance, and mouth - feel. The major manufacturers are now focusing on prod uct development in line with the organic food culture globally. At the same time, manufacturers are taking all possible measures to adhere to the strict regulations on the amount of sugar content. For instance, Public Health England (PHE) recommends that c hocolate should contain 43.7g of sugar per 100g. Besides this, food colorings, sweeteners, vegan, and other ingredients are some of the considerations to remember. As a result, manufacturers are focusing on clean - labeled manufacturing . Global Candy Market - By Distribution Channe l Based on the distribution channel, the global candy market is segmented into convenience stores, traditional grocery stores, supermarkets/hypermarkets, online sales channels, departmental stores, and o thers. The departmental stores dominate the overall market share as it provides the convenience of choice, variety of products, central location, and lower retail prices. However, the online sales channel is the fastest - growing segment due to its advanced customer Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 experience and time - saving properties. COVID - 19 pandemic and economic crisis are also responsible for its increased demand. Young consumers born in the digital era, such as millennials and Generation Z, are also driving consumerism through online shopping . Global Candy Market - By Regio n Based on region, the global candy market is segmented into five regions, North America, Europe, the Asia - Pacific, Latin America, and the Middle East & Africa. The Asia - Pacific dominates the overall global candy mark et due to the high demand for candies from the young population and children. Moreover, the impulsive purchase behavior of consumers is another primary reason fuelling the market growth. Moreover, campaigns and media advertisements related to innovative ca ndy products are proliferating the market. Companies are increasingly launching products with innovative flavours such as tamarind, raw mango, and strawberry to lure consumers in emerging markets . Competitive Landscap e The global candy market is highly fragmented due to the presence of many local and international players in the market. The key players in the market are Perfetti Van Melle Grou p , Mondelez International, Inc . , The Hershey Company, Mars, Incorporate d , Nestl é S.A . , Crown Confectionery Co., Ltd . , Kellogg Compan y , Grupo Arcor S.A . , Lotte Confectionery Co., Ltd . , Meiji Holdings Co., Ltd . , Arco r , August Storck K G , Yildiz Holdin g , Chocoladefabriken Lindt & Sprungli A G , United Confectionery Manufacturers, Ezaki Gli co Co. Ltd . , Ferrara Candy Co . , Ferrero Group , General Mills , and other prominent players . Recent Development s · In April 2021, HI - CHEW launched a new HI - CHEW fruit combos stand up pouch. It creates a fruit - forward experience with interesting flavors like tropical smoothie, pina colada, and the fresh strawberry lemonade. Each chewlet in the pouch is wrapped up with two layers of ju icy and mouthwatering goodness . · In May 2020, Prefetti Van Melle USA, Inc. has launched the first soft gummy products in the United States, under Fruit - Tella brand, which has a strong base in Europe . Scope of the Repor t Attribut e Detail s Years considere d Historical data - 2017 - 202 0 Base Year - 202 0 Forecast - 2021 - 202 7 Facts covere d Revenue in USD B illio n Market coverag e North America(U.S. and Canada), Europe ( Germany, United Kingdom, Italy, France, Spain, Russia, Sweden, Denmark, Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 Switzerland, Netherlands, Belgium, Poland, and Rest of Europ e ), the Asia - Pacific ( China, India, Japan, Singapore, South Korea, Australia, New Zealand, Malaysia, Thailand, Indonesia, Ph ilippines, Vietnam, and Rest of Asia Pacifi c ), Latin America (Brazil, Argentina, Columbia, Mexico, and Rest of Latin America), and the Middle - East & Africa (Saudi - Arabia, Iran, UAE, Turkey, South Africa and Rest of the Middle - East and Africa ) Product/ Service segmentatio n By type, by distribution chann e l , and by regio n Key Player s Perfetti Van Melle Grou p , Mondelez International, Inc . , The Hershey Company, Mars, Incorporate d , Nestlé S.A . , Crown Confectionery Co., Ltd . , Kellogg Compan y , Grupo A rcor S.A . , Lotte Confectionery Co., Ltd . , Meiji Holdings Co., Ltd . , Arco r , August Storck K G , Yildiz Holding , Chocoladefabriken Lindt & Sprungli A G , United Confectionery Manufacturers, Ezaki Glico Co. Ltd . , Ferrara Candy Co . , Ferrero Group , Genera l Mills , and other prominent players . By Typ e Ø C hocolate Cand y Ø Non - Chocolate Cand y Ø Hard Rolled Cand y Ø Breath Sweetener s Ø Caramel s Ø Gummie s Ø Dietic Cand y Ø Marshmallow s Ø Licoric e Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 Ø Lollipops & Sour s Ø Chewing Gum s Ø Cotton Cand y Ø Other s By Distribution Channe l Ø Convenience Store s Ø Traditional/Grocery Store s Ø Supermarkets/Hypermarket s Ø Online Sales Channe l Ø Departmental Store s Ø Other s By Regio n Ø North Americ a Ø Europ e Ø the Asia - Pacifi c Ø Latin Americ a Ø the Middle East and Afric a Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027 About us Blueweave Consulting offers a one - stop solution for your market intelligence needs for any service or product. You get well - researched comprehensive reports based on qualitative and quantitative data to put your business plan into action. Your well informed and tim ely decisions using our reports avert situations of excessive risks and help you grow your business with optimum risk - return trade - off. Delivering quality insights into several product or service markets within the timeline as per the needs of the clients has earned BWC an excellent reputation among clients. BWC strives to provide timely and accurate digital market intelligence services for making your business endeavours successful. For more information, kindly visit our Website www.blueweaveconsulting.com contact us info@blueweaveconsulting.com Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027