PUBLISHER: Allied Market Research | PRODUCT CODE: 1225085
PUBLISHER: Allied Market Research | PRODUCT CODE: 1225085
The global hard-boiled confectionery market was valued at $15,621.8 million in 2021, and is projected to reach $21,290.9 million by 2031, registering a CAGR of 3.2% from 2022 to 2031. Hard-boiled confectionery is generally made from sugar-based syrups by heating it at a temperature of around 160 °C. It is also known as boiled candy or hard candy. The global hard-boiled confectionery market is expected to witness a significant growth owing to the rise in disposable income and rising affordability in developing economies. Moreover, the growing global population is anticipated to have a positive impact on the market in the foreseeable future. The rising health consciousness among consumers is expected to boost the demand for sugar-free hard-boiled confectioneries during the forecast period. Moreover, the rapidly aging population and rise in the prevalence of diabetes across the globe is expected to propel the demand for the low-calorie, sugar-free hard-boiled candy in the near future.
Product innovation is one of the most influencing factors in the confectionery industry. Factors such as health awareness & consciousness among customers and varying consumer eating habits & tastes, tend to drive innovation. Manufacturers increase their product range by including functional ingredients, organic herbal fillings, tropical fruit, and nut-based & exotic flavors in product formulations to meet changing consumer demands. Furthermore, rise in middle-class consumers has propelled the market growth for premium products. However, escalation in prices of raw materials, due to extreme weather conditions, political instability, and pests & disease may hinder the growth of the market.
The hard-boiled confectionery market is segmented based on type, flavor, age group, distribution channel, and region. Based on type, the market is categorized into suckers and lollipops, jawbreakers, candy canes, rock candy, drops and disks, and others. By flavor, it is segmented into cherry, watermelon, lemon, strawberry, orange, butterscotch, and others. Depending on the age group, the market is categorized into children, adults, and geriatric. By distribution channel, the market is divided into supermarkets and hypermarkets, convenience stores, specialty stores, e-commerce, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA (Latin America, the Middle East, and Africa).
Ferrero International S.A., Lotte Corporation, Mars, Incorporated, Mondelez International, Inc., Nestle S.A., Parle Products Pvt. Ltd., Perfetti Van Melle, The Hershey Company, Tootsie Roll Industries, and Valeo Foods Group are the major companies profiled in the hard-boiled confectionery market report. These manufacturers are constantly engaged in various developmental strategies such as partnerships, mergers, acquisitions, and new product launches to gain the competitive edge and exploit the prevailing hard-boiled confectionery market opportunities.
Key Benefits For Stakeholders
By Type
By Flavor
By Age Group
By Distribution Channel
By Region