NEW YORK, March 10, 2023 /PRNewswire/ -- Major players in the jellies & gummies market are Haribo, Cloetta, Ferrara Candy, Nestle, Mondelez International Inc., Mars Inc., Jelly Belly Candy Company, The Hershey Co, Meiji Holdings Co Ltd., The Ferrero Group, Arcor, Perfetti Van Melle, Albanese Confectionery Group Inc., Giant Gummy Bears, Yupi Indo, Casa Del Dolce SRL, Decoria Confectionery Co Ltd., and Wrigley.
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The global jellies & gummies market grew from $2.47 billion in 2022 to $2.54 billion in 2023 at a compound annual growth rate (CAGR) of 2.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The jellies & gummies market is expected to grow to $2.81 billion in 2027 at a CAGR of 2.5%.
The jellies and gummies market consists of sales of mallow, gelatin-based products, sugar, hydrocolloids, sweeteners.Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
The jellies and gummies refer to a type of confectionery products made using a hydrocolloid (also known as a stabilizer) that acts as a binding element to hold sugar syrup with high moisture content.Gummies are confectionery products made of gelatin and consist of sticky texture, transparent shades, and sweet chewy consistency.
Jellies have a more solid texture than gummies as they do not contain gelatin and they use carbohydrates such as pectin, potato starch, maize starch, and tapioca.
North America was the largest region in the jellies and gummies market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in the jellies & gummies report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of jellies & gummies include jellies and gummies.The jellies refer to a semitransparent confectionery made from the juice of various fruits or vegetables, sweetened, boiled, gently cooked, and crystallized, frequently with the help of pectin, gelatin, or a similar ingredient.
The different flavours used in jellies and gummies include grapefruit, cherry, peach, berries, apple, and others.They are consumed by customers aged under 14, aged between 15 and 31 years, and aged above 31 years.
They are distributed through both store and non-store based distribution channels.
The increase in demand for confectionery goods among the global population is driving the jellies and gummies market.Confectionery products refer to sweet meals and consumables such as baked pastries, candies, jellies, gummies, and sweets.
Consumers with a fast-paced lifestyle are increasingly inclined toward confectioneries as they are tasty and consume less time.For instance, research conducted in September 2020 by a European leading food producer BENEO found out that consumers shifted to confectionery products to help brighten their day during the COVID-19 pandemic, with around 62% of people eating chocolate or sweets at least 3 times a week or more.
This was notably true for the younger generations (ages 25-34), as 47% increased their sweet consumption.In 2021, it was expected that these higher consumption levels will persist, as younger people seek to brighten their moods by eating confectionery items.
Therefore, the rise in demand for confectionery goods among the global population will propel the growth of the jellies and gummies market.
Product innovation is a key trend gaining popularity in the jellies and gummies market.Manufacturers are working towards bringing innovations in jellies and gummies to meet the changing demand of the consumers.
Across the globe, people are now opting for a vegan diet and jellies and gummies that are made of vegan ingredients.Gelatin, a major ingredient in jellies and gummies, is created from animal-derived connective tissue, and manufacturers are coming up with vegan or plant-based jellies and gummies that do not contain animal products to satisfy their vegan consumers, enhance their brand and stay competitive in the market.
For instance, in June 2020, Jelly Belly Candy Company, a US-based jelly beans, and candies manufacturer launched a line of vegan gummy candy in various natural flavours such as apple, berry, lemon, orange, and cherry. These are vegan, do not contain gelatin, and are coloured with natural ingredients.
In January 2020, Jelly Belly Candy Company, a US-based manufacturer of jelly beans and other candy acquired brand assets including Gimbal's jelly beans and Scottie Dogs licorice from Gimbal Brothers LLC for an undisclosed amount.This acquisition complements Jelly Belly Candy Company's jellybeans brands and other offerings as well as enhances its position in the market.
Gimbal Brothers LLC is a US-based manufacturer of gummy vitamins and gourmet jellybeans.
The countries covered in the jellies & gummies report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The jellies & gummies market research report is one of a series of new reports that provides jellies & gummies market statistics, including jellies & gummies industry global market size, regional shares, competitors with a jellies & gummies market share, detailed jellies & gummies market segments, market trends and opportunities, and any further data you may need to thrive in the jellies & gummies industry. This jellies & gummies market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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