Market Research Report
Global Candy Market, By Product Type, By Distribution Channels, By Region, Competition Forecast & Opportunities, 2016-2026
|Published by||TechSci Research||Product code||998627|
|Published||Content info||112 Pages
Delivery time: Inquiry
|Global Candy Market, By Product Type, By Distribution Channels, By Region, Competition Forecast & Opportunities, 2016-2026|
|Published: April 1, 2021||Content info: 112 Pages||
Global Candy Market, By Product Type (Sugar Candy, Chocolate Candy & Gum Candy), By Distribution Channels (Convenience Stores, Traditional Grocery Stores, Supermarkets/Hypermarkets, Online Sales Channel, Departmental Store), By Region, Competition Forecast & Opportunities, 2016-2026.
Global candy market is anticipated to reach over USD70 billion by the end of 2026 and grow at a CAGR of over 5% during the forecast period owing to increasing innovation in existing products and rising demand for chocolate products globally. However, rising health concerns about diseases like obesity and diabetes are somewhat inhibiting the growth of the global candy market. To tackle this situation, sugar-free and low-calorie candies are being manufactured by the companies. Major challenges faced by the industry include rising government regulations, changing end user preferences and health issues, which might hamper the growth of the market through 2026.
The global candy market can be segregated based on type, distribution channels and region. In terms of type, it is the sugar candy that dominates the global candy market and is expected to maintain its dominance during the forthcoming years as well owing to the continuous launch of innovative products as well as aggressive branding initiatives undertaken by leading market players.
While considering the distribution channels, in 2020, the departmental stores accounted for a majority share in the global candy market; however, the online sales channel is expected to increase at a rapid pace during the forecast period.
In terms of region, the global candy market is categorized into North America, South America, Europe, Asia-Pacific and Middle East & Africa. Among these regions, North America, followed by Europe, is the major contributor based on sales generated and higher demand for candies in these regions. Sugar confectionery consumption dominates Asia-Pacific and the Middle East & Africa due to the lower product cost. Thus, Asia-Pacific region is anticipated to grow at a much faster rate during the forecast period.
The candy market has become an attractive destination for investments and several large multinational companies are entering into this market. Some of the major players operating in this market are Perfetti Van Melle Group, Mondelez International, Inc., The Hershey Company, Mars, Incorporated, Nestle S.A., Crown Confectionery Co., Ltd., Kellogg Co., Grupo Arcor S.A., Lotte Confectionery Co., Ltd., and Meiji Holdings Co., Ltd. The global candy market is highly fragmented due to many local and international suppliers.
Years considered for this report:
Historical Years: 2016-2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022-2026
Objective of the Study:
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels, and presence of all major players across the globe.
TechSci Research calculated the market size of the global candy market using a bottom-up approach, wherein data for various end user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated them through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by TechSci Research.
Key Target Audience:
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, the global candy market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
Traditional Grocery Stores
Online Sales Channel
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in the global candy market.
With the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report: