+353-1-416-8900REST OF WORLD
+44-20-3973-8888REST OF WORLD
1-917-300-0470EAST COAST U.S
1-800-526-8630U.S. (TOLL FREE)

Global Candy Market, By Type; By Distribution Channel; By Region; Trend Analysis, Competitive Market Share & Forecast, 2017-2027

  • PDF Icon


  • 141 Pages
  • May 2021
  • Region: Global
  • Blueweave Consulting & Research Pvt Ltd
  • ID: 5350167

Global Candy Market Growing Massively: Expected to Reach USD 278.9 Billion by 2027

A recent study conducted revealed that 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. The change in traditional patterns of food consumption, 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, candy 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 increased by nearly 21% in grocery stores.

Product Innovation and New Offerings by manufacturers are Propelling the market growth

The new product innovations from candy manufacturers are driving the growth of the global candy market. For instance, in August 2020, Laffy Taffy®, the iconic candy brand known for its delightfully fruity flavor introduced its innovative poppable candies-Laffy Taffy LAFF BITES. Also in March 2021, Thinful, a low-sugar snack mix of 2 grams of sugar and 60 calories per half-cup portion, was launched by Piedmont Candy. Moreover, The growing demand for health-conscious products has also resulted in the development of gummies for hair growth and protein bars. Such innovations are playing a primary role in driving the growth of the global candy market.

Rising Demand Among Young Population And Children Fueling the Market Growth

Children typically enjoy the various flavors of candies. Also, chocolate cravings are particularly prevalent among the young population. Festivals such as Halloween, Children's Day, Christmas, and others are also significant contributors to the purchasing of chocolates designed specifically for children. Candies designed specifically for children may contain an addictive amount of sugar, which ends up triggering craving.

Furthermore, the marketing strategy for candies is designed to entice children. Aside from that, ads are planned and created with children as the target audience. Furthermore, the price of candies is quite affordable, making it simple for children to purchase without any financial constraint. According to World Bank, in the year 2019, population aged between 0-14 years reached 1.98 billion population. Moreover, the population woud further increase in the upcoming years. Thus, gives immense opportunities to the manufacturers in the global candy market.

Non-Chocolate Segment Accounts for the Largest Share in Global Candy Market on the basis of type Segment

Based on type the global candy market is bifurcated into chocolate candy, non-chocolate candy, hard rolled candy, breath sweeteners, caramels, gummies, dietic candy, marshmallows, licorice, lollipop,sours, chewing gums, cotton candy and others. The non-chocolate segment dominates the overall market due to rising health concerns, increased awareness of diseases such as diabetes and obesity, the wide variety of flavors available in non-chocolate candies, and collaborative and innovative initiatives taken by non-chocolate companies to encourage consumerism.The non-chocolate segment also focuses on clean-labelled production due to the stringent rules of government over the sugar content in chocolates, coupled with certifications. Such as vegan, organic, GMO-free, sugar-free, and kosher certified sweeteners, food colours, among other ingredients creates opportunities for the manufacturers of non-chocolate candy.

Global Candy Market: Regional Insights

Based on region, the global candy market is segmented into North America, Europe, the Asia-Pacific, Latin America and the Middle East and Africa. Among these regions, The Asia-Pacific region accounts for the majority of these, owing to increased candy consumption and shifting customer preferences for exotic or luxury candy products marketed and manufactured in the region. Moreover, companies such as Derby India and Perfetti Van Melle India launched new candies that are filled with vitamin c and fruit juices. The importance of vitamin C has been highlighted in the current scenario as a result of the COVID-19 outbreak. Vitamin C is thought to be an immunity booster for fighting the novel coronavirus. As a result, the stock value will rise.

Because of the high consumption of candies, North America is the world's second-largest candy market. The demand of North American consumers for quality and premium candies is rapidly growing. This is due to their change in taste and eating habits, which offers immense opportunities to candy manufacturers for new product development. Moreover, in this region, consumers spend more on premium candy products like artisanal. Artisanal candies not only have an appealing appearance but also has increased palatability. Furthermore, intensified manufacturer efforts, the advent of new technology, and emerging production facilitation have been fueling the candy market in the region.

Impact of COVID-19 Outbreak on the Global Candy Market

Due to the COVID-19 outbreak, the global candy market was also impacted for a short term. Candy manufacturers suffered significant losses and challenges as a result of the national lockdown as the candy manufacturing operations were suspended temporarily. However, work-from-home patterns during the lockdown phase have increased people's desire for sweet treats. As a result, both chocolate and non-chocolate candies saw significant growth during the lockdown. COVID-19 has ushered in significant improvements in the candy market's retail sector too. The pandemic ended up changing consumer's purchasing patterns as more and more consumers started opting for online purchase of candies. Thus, candy products have gained prominence in households as a result of COVID-19 lockout implementations and extensions, thereby propelling the growth of the global candy market. Furthermore, as countries recover from the effects of the global pandemic, changes in traditional food consumption habits have created immense opportunities for innovation across the candy market worldwide.

Key Market Players: The global candy market is highly fragmented. It has a wide scope for new entrants as the demand from consumers are endless in terms of taste. Companies are coming up with several new launches (such as different flavour candies) to create the new demand in the market. Some of the key market players in the global candy market are Perfetti Van Melle Group, Mondelez International, Inc., The Hershey Company, Mars, Incorporated, Nestlé S.A., Crown Confectionery Co., Ltd., Kellogg Company, Grupo Arcor S.A., Lotte Confectionery Co., Ltd., Meiji Holdings Co., Ltd., Arcor, August Storck KG, Yildiz Holding, Chocoladefabriken Lindt & Sprungli AG, United Confectionary Manufacturers, Ezaki Glico Co. Ltd., Ferrara Candy Co., Ferrero Group, General Mills, and, other prominent players.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of global candy market size & forecast. The report promises to provide recent technology trends of the global candy market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.

This product will be delivered within 2 business days.
Frequently Asked Questions about the Global Candy Market

What is the estimated value of the Global Candy Market?

The Global Candy Market was estimated to be valued at $218.1 Billion in 2021.

What is the growth rate of the Global Candy Market?

The growth rate of the Global Candy Market is 4.2%, with an estimated value of $278.9 Billion by 2027.

What is the forecasted size of the Global Candy Market?

The Global Candy Market is estimated to be worth $278.9 Billion by 2027.

Who are the key companies in the Global Candy Market?

Key companies in the Global Candy Market include Perfetti Van Melle Group, Mondelez International Inc., The Hershey Company, Mars Incorporated, Nestlé S.A., Crown Confectionery Co. Ltd., Kellogg Company, Grupo Arcor S.A. and Meiji Holdings Co. Ltd..

Table of Contents

1. Research Framework
1.1. Research Objective
1.2. Product Overview
1.3. Market Segmentation
2. Research Methodology
2.1. Qualitative Research
2.2. Quantitative Research
2.3. Market Breakdown & Data Triangulation
2.4. Breakdown of Primary Research Respondents, By Region
2.5. Assumption & Limitation
3. Executive Summary
4. Global Candy Market Insights
4.1. Industry Value Chain Analysis
4.2. DROC Analysis
4.3. Industry Life Cycle Analysis
4.4. Porter’s Five Forces Analysis
5. Global Candy Market Overview
5.1. Market Size & Forecast by Value, 2017-2027
5.2. Market Share & Forecast
6. North America Candy Market
6.1. Market Size & Forecast by Value, 2017-2027
6.2. Market Share & Forecast
7. Europe Candy Market
7.1. Market Size & Forecast by Value, 2017-2027
7.2. Market Share & Forecast
8. the Asia-Pacific Candy Market
8.1. Market Size & Forecast by Value, 2017-2027
8.2. Market Share & Forecast
9. Latin America Candy Market
9.1. Market Size & Forecast by Value, 2017-2027
9.2. Market Share & Forecast
10. the Middle East & Africa Candy Market
10.1. Market Size & Forecast by Value, 2017-2027
10.2. Market Share & Forecast
11. Competitive Landscape
11.1. List of Key Players and Their Offerings
11.2. Market Share Analysis, 2020
11.3. Competitive Benchmarking, By Operating Parameters
12. Impact of Covid-19 on Global Candy Industry
13. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, SWOT Analysis, Contact Address, and Strategic Outlook)**
13.1. Perfetti Van Melle Group
13.2. Mondelez International, Inc.
13.3. The Hershey Company
13.4. Mars, Incorporated
13.5. Nestlé S.A.
13.6. Crown Confectionery Co., Ltd.
13.7. Kellogg Company
13.8. Grupo Arcor S.A.
13.9. Lotte Confectionery Co., Ltd.
13.10. Meiji Holdings Co., Ltd.
13.11. Arcor
13.12. August Storck KG
13.13. Yildiz Holding
13.14. Chocoladefabriken Lindt & Sprungli AG
13.15. United Confectionary Manufacturers
13.16. Ezaki Glico Co. Ltd.
13.17. Ferrara Candy Co.
13.18. Ferrero Group
13.19. General Mills
13.20. Other Prominent Players
14. Key Strategic Recommendations
*Financial details of unlisted companies will be available as per data availability in final deliverable
**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

Companies Mentioned

A selection of companies mentioned in this report includes:

  • Perfetti Van Melle Group
  • Mondelez International Inc.
  • The Hershey Company
  • Mars Incorporated
  • Nestlé S.A.
  • Crown Confectionery Co. Ltd.
  • Kellogg Company
  • Grupo Arcor S.A.
  • Lotte Confectionery Co. Ltd.
  • Meiji Holdings Co. Ltd.
  • Arcor
  • August Storck KG
  • Yildiz Holding
  • Chocoladefabriken Lindt & Sprungli AG
  • United Confectionery Manufacturers
  • Ezaki Glico Co. Ltd.
  • Ferrara Candy Co.
  • Ferrero Group
  • General Mills .