Candy Production in Canada - Industry Market Research Report

Sticky fingers: Industry revenue will likely grow marginally due to import penetration undercutting gains

Canadian candy producers manufacture nonchocolate candy, like marshmallows, toffee, caramel, granola bars and chewing gum. These producers sell products to retailers and wholesalers for redistribution to consumers. That's why Canadian candy producer performance relies on domestic demand and global demand, since exports will generate more than half of candy production revenue in 2023. Although some candy products, like breakfast bars, have swelled in popularity, boosting health consciousness has soured demand for candy products. Plus, imports have satisfied a strengthening share of the domestic market compared with historical performance. As a result of these trends, revenue will only inch up 0.7% to reach $1.2 billion over the five years to 2023. This includes an anticipated 2.6% boost in revenue in 2023 alone as the economy continues and largely completes its recovery from COVID-19.

This industry produces nonchocolate confectionery, such as marshmallows, toffee, candied fruits and nuts, fudge, breakfast bars and chewing gum. Industry operators sell candy to retailers and wholesalers that then distribute it to households and other consumers. This industry does not produce chocolates, chocolate confectionery, ice cream, frozen yogourt or dried fruit and nut snacks.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry's key players and their market shares.