NEW YORK, April 25, 2023 /PRNewswire/ -- The candy market size is set to grow by USD 56.43 billion from 2022 to 2027 and register a CAGR of 4.48%, according to Technavio's latest market research report estimates. With a focus on identifying dominant industry influencers, Technavio's reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis of the current market scenario, the latest trends and drivers, and the overall market environment. Get a comprehensive report summary describing the market size and forecast along with research methodology. Read a Sample Report
The report also covers the following areas:
Candy Market 2023-2027: Segmentation
- Type
- Non-chocolate Candy
- Chocolate Candy
- Distribution Channel
- Offline
- Online
- Geography
- APAC
- North America
- Europe
- South America
- Middle East And Africa
The market share growth by the non-chocolate candy segment will be significant for the market growth during the forecast period. Non-chocolate confectionery has gained commercial importance in recent years due to factors such as increased health awareness and growing demand for sugar-free/low-sugar chocolate/confectionery products. The demand for chocolate-free confectionery among the general public has increased. Additionally, major players include valuable ingredients, additional nutrients, and minerals in candies as a strategy to increase their revenue and market share. Hence, such factors are expected to drive the segment growth for the non-chocolate candy segment during the forecast period.
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To help businesses improve their market position, the candy market provides a detailed analysis of around 15+ vendors operating in the market. Some of these vendors include Arcor Group, AUGUST STORCK KG, Cloetta AB, Ferrero International S.A., General Mills Inc., HARIBO GmbH and Co. KG, Jelly Belly Candy Co., Kellogg Co, Mars Inc., Meiji Holdings Co. Ltd., Nestle SA, Palmer Candy Co., Perfetti Van Melle Group BV, pladis Foods Ltd., Quality Candy Co., SUGARFINA USA LLC, Sweet Candy Co. Inc., The Bang Candy Co., The Hershey Co., and Mondelez International Inc.
Vendor Offerings
- Arcor Group - The company offers candies in the form of filled, hard, sour, crystal, and soft or milk candies; gummy candies; lollipops in different shapes; chewing gum both sugar-free or and non-sugar-free; bubble gum; jellies, nougat candies or turrones; and tablets.
- Cloetta AB - The company offers various fruit-flavored candies.
- Ferrero International S.A. - The company offers chocolate candies under various brands such as Babyruth, Butterfinger, Crunch, Kinder Joy, and Kinder Bueno.
Candy Market 2023-2027: Market Dynamics
Key Drivers
- A major market driver fueling the growth of the candy market is the growing purchasing power of consumers.
- The market's continued growth, paired with the customers' increasing purchasing power, is the primary factor in creating opportunities for the candy market.
- Some of the main factors influencing candy demand include consumer preferences, population growth, and consumer inclinations.
- Additionally, as a result of the production of candy with fewer sugar additives, significant market players in the candy industry may have excellent revenue-generating opportunities.
- Hence, the growth of emerging new markets will act as a market driver and expand the favorable chances for the market growth rate during the forecast period.
Major Trends
- An emerging trend in the candy market that is estimated to have a positive impact on market growth is increasing online sales.
- Benefits such as ease, convenience, and accessibility to a wider variety of products are offered by online shopping.
- There is a growing market for online candy sales, as more companies use online platforms to reach consumers. Clean labeling is another development that is having an impact on the worldwide confectionery market.
- As a result of the demand for a more natural and healthy diet, the demand for products created with natural components is rising as opposed to those with artificial preservatives, colors, and tastes.
- Hence, such trends are expected to fuel market growth during the forecast period.
Key Challenges
- A major challenge impeding the market growth for candies is an increase in the number of product recalls.
- One of the key factors for the increase in product recalls is the rising concern over food safety.
- Candy producers are quite concerned about product recalls because they can harm their reputation, diminish consumer trust, and cause them monetary losses.
- Moreover, as a result of consumers' growing health consciousness and awareness of the contents of their food, they expect greater transparency and safety in the items they purchase.
- Furthermore, regulations are more stringent nowadays, which compels producers to meet greater requirements for the reliability and security of their goods.
- Such factors negatively impact the growth of the candy market during the forecast period.
In addition to the forecast, the report also highlights the key opportunities by analyzing drivers, trends, challenges for the market - View a Sample Report
Candy Market 2023-2027: Key Highlights
- CAGR of the market during the forecast period 2023-2027
- Detailed information on factors that will assist candy market growth during the forecast period
- Estimation of the candy market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the candy market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of candy market vendors
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Related Reports:
The jelly candies (gummies) market is estimated to grow at a CAGR of 3.73% between 2022 and 2027. The size of the market is forecasted to increase by USD 1,454.74 million. This report extensively covers market segmentation by product (sugar-based and sugar-free), distribution channel (offline and online), and geography (Europe, North America, APAC, Middle East and Africa, and South America). The growing demand for organic sugar-free jelly candies (gummies) is notably driving market growth.
The size of the confectionery market in the US is expected to increase by USD 8.35 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.12%. Furthermore, this report extensively covers market segmentation by distribution channel (offline and online) and product (chocolate confectionery, sugar confectionery, and gum confectionery). The seasonal demand for confectioneries is notably driving the market growth.
Candy Market Scope |
|
Report Coverage |
Details |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.48% |
Market growth 2023-2027 |
USD 56.43 billion |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.13 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 59% |
Key countries |
US, China, Japan, India, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
Arcor Group, AUGUST STORCK KG, Cloetta AB, Ferrero International S.A., General Mills Inc., HARIBO GmbH and Co. KG, Jelly Belly Candy Co., Kellogg Co, Mars Inc., Meiji Holdings Co. Ltd., Nestle SA, Palmer Candy Co., Perfetti Van Melle Group BV, pladis Foods Ltd., Quality Candy Co., SUGARFINA USA LLC, Sweet Candy Co. Inc., The Bang Candy Co., The Hershey Co., and Mondelez International Inc. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Browse for Technavio's Consumer Staples Reports
Table of Contents :
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
- Exhibit 07: Executive Summary – Chart on Incremental Growth
- Exhibit 08: Executive Summary – Data Table on Incremental Growth
- Exhibit 09: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 10: Parent market
- Exhibit 11: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 12: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 13: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
- Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global candy market 2017 - 2021
- Exhibit 18: Historic Market Size – Data Table on Global candy market 2017 - 2021 ($ billion)
- 4.2 Type Segment Analysis 2017 - 2021
- Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ billion)
- 4.3 Distribution channel Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Distribution channel Segment 2017 - 2021 ($ billion)
- 4.4 Geography Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)
- 4.5 Country Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 23: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 29: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Type
- 6.1 Market segments
- Exhibit 30: Chart on Type - Market share 2022-2027 (%)
- Exhibit 31: Data Table on Type - Market share 2022-2027 (%)
- 6.2 Comparison by Type
- Exhibit 32: Chart on Comparison by Type
- Exhibit 33: Data Table on Comparison by Type
- 6.3 Non-chocolate candy - Market size and forecast 2022-2027
- Exhibit 34: Chart on Non-chocolate candy - Market size and forecast 2022-2027 ($ billion)
- Exhibit 35: Data Table on Non-chocolate candy - Market size and forecast 2022-2027 ($ billion)
- Exhibit 36: Chart on Non-chocolate candy - Year-over-year growth 2022-2027 (%)
- Exhibit 37: Data Table on Non-chocolate candy - Year-over-year growth 2022-2027 (%)
- 6.4 Chocolate candy - Market size and forecast 2022-2027
- Exhibit 38: Chart on Chocolate candy - Market size and forecast 2022-2027 ($ billion)
- Exhibit 39: Data Table on Chocolate candy - Market size and forecast 2022-2027 ($ billion)
- Exhibit 40: Chart on Chocolate candy - Year-over-year growth 2022-2027 (%)
- Exhibit 41: Data Table on Chocolate candy - Year-over-year growth 2022-2027 (%)
- 6.5 Market opportunity by Type
- Exhibit 42: Market opportunity by Type ($ billion)
- Exhibit 43: Data Table on Market opportunity by Type ($ billion)
7 Market Segmentation by Distribution Channel
- 7.1 Market segments
- Exhibit 44: Chart on Distribution Channel - Market share 2022-2027 (%)
- Exhibit 45: Data Table on Distribution Channel - Market share 2022-2027 (%)
- 7.2 Comparison by Distribution Channel
- Exhibit 46: Chart on Comparison by Distribution Channel
- Exhibit 47: Data Table on Comparison by Distribution Channel
- 7.3 Offline - Market size and forecast 2022-2027
- Exhibit 48: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 49: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
- Exhibit 50: Chart on Offline - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Offline - Year-over-year growth 2022-2027 (%)
- 7.4 Online - Market size and forecast 2022-2027
- Exhibit 52: Chart on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 53: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
- Exhibit 54: Chart on Online - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Online - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by Distribution Channel
- Exhibit 56: Market opportunity by Distribution Channel ($ billion)
- Exhibit 57: Data Table on Market opportunity by Distribution Channel ($ billion)
8 Customer Landscape
- 8.1 Customer landscape overview
- Exhibit 58: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
9 Geographic Landscape
- 9.1 Geographic segmentation
- Exhibit 59: Chart on Market share by geography 2022-2027 (%)
- Exhibit 60: Data Table on Market share by geography 2022-2027 (%)
- 9.2 Geographic comparison
- Exhibit 61: Chart on Geographic comparison
- Exhibit 62: Data Table on Geographic comparison
- 9.3 APAC - Market size and forecast 2022-2027
- Exhibit 63: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 64: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
- Exhibit 65: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 66: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 9.4 North America - Market size and forecast 2022-2027
- Exhibit 67: Chart on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 68: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 69: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 70: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 9.5 Europe - Market size and forecast 2022-2027
- Exhibit 71: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 72: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
- Exhibit 73: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 74: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 9.6 South America - Market size and forecast 2022-2027
- Exhibit 75: Chart on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 76: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
- Exhibit 77: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 78: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 9.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 79: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 80: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
- Exhibit 81: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 82: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 9.8 China - Market size and forecast 2022-2027
- Exhibit 83: Chart on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 84: Data Table on China - Market size and forecast 2022-2027 ($ billion)
- Exhibit 85: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 86: Data Table on China - Year-over-year growth 2022-2027 (%)
- 9.9 US - Market size and forecast 2022-2027
- Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
- Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)
- 9.10 Japan - Market size and forecast 2022-2027
- Exhibit 91: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 92: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
- Exhibit 93: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 94: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 9.11 India - Market size and forecast 2022-2027
- Exhibit 95: Chart on India - Market size and forecast 2022-2027 ($ billion)
- Exhibit 96: Data Table on India - Market size and forecast 2022-2027 ($ billion)
- Exhibit 97: Chart on India - Year-over-year growth 2022-2027 (%)
- Exhibit 98: Data Table on India - Year-over-year growth 2022-2027 (%)
- 9.12 Germany - Market size and forecast 2022-2027
- Exhibit 99: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 100: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
- Exhibit 101: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 102: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 9.13 Market opportunity by geography
- Exhibit 103: Market opportunity by geography ($ billion)
- Exhibit 104: Data Tables on Market opportunity by geography ($ billion)
10 Drivers, Challenges, and Trends
- 10.1 Market drivers
- 10.2 Market challenges
- 10.3 Impact of drivers and challenges
- Exhibit 105: Impact of drivers and challenges in 2022 and 2027
- 10.4 Market trends
11 Vendor Landscape
- 11.1 Overview
- 11.2 Vendor landscape
- Exhibit 106: Overview on Criticality of inputs and Factors of differentiation
- 11.3 Landscape disruption
- Exhibit 107: Overview on factors of disruption
- 11.4 Industry risks
- Exhibit 108: Impact of key risks on business
12 Vendor Analysis
- 12.1 Vendors covered
- Exhibit 109: Vendors covered
- 12.2 Market positioning of vendors
- Exhibit 110: Matrix on vendor position and classification
- 12.3 Arcor Group
- Exhibit 111: Arcor Group - Overview
- Exhibit 112: Arcor Group - Business segments
- Exhibit 113: Arcor Group - Key offerings
- Exhibit 114: Arcor Group - Segment focus
- 12.4 Cloetta AB
- Exhibit 115: Cloetta AB - Overview
- Exhibit 116: Cloetta AB - Business segments
- Exhibit 117: Cloetta AB - Key offerings
- Exhibit 118: Cloetta AB - Segment focus
- 12.5 Ferrero International S.A.
- Exhibit 119: Ferrero International S.A. - Overview
- Exhibit 120: Ferrero International S.A. - Product / Service
- Exhibit 121: Ferrero International S.A. - Key offerings
- 12.6 HARIBO GmbH and Co. KG
- Exhibit 122: HARIBO GmbH and Co. KG - Overview
- Exhibit 123: HARIBO GmbH and Co. KG - Product / Service
- Exhibit 124: HARIBO GmbH and Co. KG - Key offerings
- 12.7 Mars Inc.
- Exhibit 125: Mars Inc. - Overview
- Exhibit 126: Mars Inc. - Product / Service
- Exhibit 127: Mars Inc. - Key offerings
- 12.8 Meiji Holdings Co. Ltd.
- Exhibit 128: Meiji Holdings Co. Ltd. - Overview
- Exhibit 129: Meiji Holdings Co. Ltd. - Business segments
- Exhibit 130: Meiji Holdings Co. Ltd. - Key news
- Exhibit 131: Meiji Holdings Co. Ltd. - Key offerings
- Exhibit 132: Meiji Holdings Co. Ltd. - Segment focus
- 12.9 Mondelez International Inc.
- Exhibit 133: Mondelez International Inc. - Overview
- Exhibit 134: Mondelez International Inc. - Business segments
- Exhibit 135: Mondelez International Inc. - Key news
- Exhibit 136: Mondelez International Inc. - Key offerings
- Exhibit 137: Mondelez International Inc. - Segment focus
- 12.10 Nestle SA
- Exhibit 138: Nestle SA - Overview
- Exhibit 139: Nestle SA - Business segments
- Exhibit 140: Nestle SA - Key news
- Exhibit 141: Nestle SA - Key offerings
- Exhibit 142: Nestle SA - Segment focus
- 12.11 Palmer Candy Co.
- Exhibit 143: Palmer Candy Co. - Overview
- Exhibit 144: Palmer Candy Co. - Product / Service
- Exhibit 145: Palmer Candy Co. - Key offerings
- 12.12 Perfetti Van Melle Group BV
- Exhibit 146: Perfetti Van Melle Group BV - Overview
- Exhibit 147: Perfetti Van Melle Group BV - Product / Service
- Exhibit 148: Perfetti Van Melle Group BV - Key offerings
- 12.13 Quality Candy Co.
- Exhibit 149: Quality Candy Co. - Overview
- Exhibit 150: Quality Candy Co. - Product / Service
- Exhibit 151: Quality Candy Co. - Key offerings
- 12.14 SUGARFINA USA LLC
- Exhibit 152: SUGARFINA USA LLC - Overview
- Exhibit 153: SUGARFINA USA LLC - Product / Service
- Exhibit 154: SUGARFINA USA LLC - Key offerings
- 12.15 Sweet Candy Co. Inc.
- Exhibit 155: Sweet Candy Co. Inc. - Overview
- Exhibit 156: Sweet Candy Co. Inc. - Product / Service
- Exhibit 157: Sweet Candy Co. Inc. - Key offerings
- 12.16 The Bang Candy Co.
- Exhibit 158: The Bang Candy Co. - Overview
- Exhibit 159: The Bang Candy Co. - Product / Service
- Exhibit 160: The Bang Candy Co. - Key offerings
- 12.17 The Hershey Co.
- Exhibit 161: The Hershey Co. - Overview
- Exhibit 162: The Hershey Co. - Business segments
- Exhibit 163: The Hershey Co. - Key news
- Exhibit 164: The Hershey Co. - Key offerings
- Exhibit 165: The Hershey Co. - Segment focus
13 Appendix
- 13.1 Scope of the report
- 13.2 Inclusions and exclusions checklist
- Exhibit 166: Inclusions checklist
- Exhibit 167: Exclusions checklist
- 13.3 Currency conversion rates for US$
- Exhibit 168: Currency conversion rates for US$
- 13.4 Research methodology
- Exhibit 169: Research methodology
- Exhibit 170: Validation techniques employed for market sizing
- Exhibit 171: Information sources
- 13.5 List of abbreviations
- Exhibit 172: List of abbreviations
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