NEW YORK, September 26, 2016 /PRNewswire/ --
Candy, also known as sweets, toffies or lollies, is a sweet treat or a confection made with sugar or sugar substitutes like chocolates, combined with additives like fruits, nuts, etc. or a piece of such confection. Unlike a cake or a chocolate bar or a loaf of bread, that can be shared among many people, candy is usually made in smaller pieces. The definition of candy also depends upon people on how they treat the food. Unlike sweet pastries, that are served as a dessert course at the end of the meal, candies are often eaten casually as a mouth refreshment or between meals.
Increasing population of the country, rising disposable income coupled with innovative product offerings by major players along with aggressive product marketing and robust supply chain network with increasing penetration in rural areas are few of the major factors fueling the demand of candies in India.
Candy Market: Drivers and Restraints
India Candy market has witnessed a robust growth during the last five years and is anticipated to grow at a double digit CAGR during the next five years. Rising young population base in the country coupled with increasing preference for imported products which backed by aggressive marketing and promotional campaigns by foreign players, innovative product offerings and more than ever evolving distribution network with increasing penetration in rural areas are few of the factors aiding to the growing demand of candies in India. Candies are also treated as the replacement for expensive chocolates by consumers. This is forecast to drive the candy market in the country.
However, continuously rising raw material costs and benchmarked selling prices are the major challenges to the candy market in India as it is reducing the profit margin of the manufacturers. Increasing inclination towards imported candies is also attracting number of foreign players due to which the candy market in India is getting highly competitive.
India Candy Market: Segmentation
The India Candy Market is broadly classified on the basis of type, region and competitors.
India Candy Market, by Type
- Sugar Candy
- Chocolate Candy
- Gum Candy
India Candy Market: By Region
North region contributed the largest share in India Candy market followed by west region which can be attributed to the presence of major candy manufacturers in the region coupled with rising urbanization, high population concentration, etc. Tier I & II cities have been the major demand generators for candies in India, however, on the back of improved distribution network, increasing penetration of major domestic and foreign players in rural region is anticipated to drive the candy market during the forecast period.
India Candy Market: Key Players
Perfetti Van Melle, Nestle, Mondelez, Parle Agro, ITC, Lotte, Mars and D.S Group are some of the major players operating in India Candy market.
The report covers exhaustive analysis on:
- Market Size, Market Share & Forecast
- Segmental Analysis - By Type, By Region & By Company
- Regional Analysis for following regions:
- North Region
- South Region
- East Region
- West Region
- Market Dynamics (Market Drivers, Challenges & their Impact Analysis)
- Market Trends & Emerging Opportunities
- Competitive Landscape
- Strategic Recommendations
Regional analysis includes
- North Region (Delhi/NCR, Chandigarh, Lucknow)
- South Region (Bangalore, Chennai, Hyderabad)
- West Region (Mumbai, Pune, Ahmedabad)
- East Region (Kolkata, Guwahati, Patna)
Why You Should Buy This Report?
- To gain an in-depth understanding of candy market in India.
- To identify the on-going trends and anticipated growth in the next five years.
- To gain competitive knowledge of leading market players.
- To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyer's specific needs.
Key Questions This Study Will Answer
- How do growth rates in the market vary by segment, sub-segments and region?
- What are the most important growth drivers and opportunities in the market?
- What strategies should market competitors employ to gain share in mature segments of the market?
- What are the competitor profiles in this market and how do they compete for market share?
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