Global Candy Market Is Anticipated to Surge Approximately $15.1 Billion By 2030

03-May-2023 | Zion Market Research

The global candy industry size was nearly $12.1 Billion in 2022 and is anticipated to surge to approximately $15.1 Billion by 2030 along with recording the highest growth rate of nearly 10.1% from 2023 to 2030.

Global Candy Market Size

Candy is a sweet that comprises sugar as its major constituent. Apart from this, it also refers to as a sugar confectionary comprising sweet confections such as chewing gum, chocolate, and sugar candy. In addition to this, candy is featured by the use of a substantial proportion of sugar or its substitutes. For the record, the target customers for the product are children and young people.

Humungous popularity of chocolate candies is anticipated to crop up the growth of the global candy market. Furthermore, an increase in urbanization and a rise in per capita expenditure are a few of the key aspects triggering the upsurge of the market across the globe. Apart from this, a massive increment in the youth & millennial population and surging demand for dark chocolate are other few key factors determining the expansion of the global market. An increase in the intake of sugar-free candies as a result of health awareness among the youth and aging population will drive the global market trends.

Nonetheless, candy consisting of sugar contents in large proportions along with an increase in tooth infections and obesity due to consumption of these products can impede the scaling up of the candy industry across the globe. Moreover, a rise in tooth infections in kids can put brakes on the growth of the global industry in the years ahead. However, a surge in the establishments of supermarkets as well as hypermarkets globally as well as ease of candy access in these giant retail stores will open novel opportunities for growth for the global industry.

Global Candy Market

The global candy market is sectored into product type, distribution channel, and region.

The product type segment of the candy market is sub-segmented into chocolate candy and non-chocolate candy segments. Furthermore, the non-chocolate candy segment, which accounted for a major share of the global market in 2022, is slated to maintain its domination even during the forecast timeframe. The segmental expansion in the coming years can be credited to a rise in intake of non-chocolate candy items including hard-boiled candies, pastilles, caramels & nougat, toffees, mints, and jellies & chews from end-users in all age-groups of the population base.

On the basis of distribution channel, the candy industry across the globe is sectored into supermarkets/hypermarkets, online retail stores, specialty stores, convenience stores, and others. The convenience stores segment, which accounted for the highest share of nearly two-fifths of the global industry share in 2022, is predicted to retain its industry dominance in the ensuing timespan. The segmental expansion in the ensuing years is likely due to the easy availability of candy items in convenience stores.

Furthermore, North America, which contributed for the largest share of the global candy market in 2022, is predicted to retain its dominant position in the global market during the projected timeline. The upsurge of the market in North America over 2023-2030 can be a result of a rise in the purchase of chocolate-based confectionery products and a rise in product development strategies adopted by the key players of the region. Apart from this, the presence of key market players in this sub-continent will embellish the surge of the regional market.

The candy industry in the Asia-Pacific region is expected to register the highest CAGR in the years ahead. The regional market expansion during the analysis timeline can as a result of globalization, increasing purchasing power, and a rise in product demand from children and youth.

Browse the full “Candy Market By Product Type (Chocolate Candy and Non-Chocolate Candy), By Distribution Channel (Supermarket/Hypermarket, Specialty Stores, Online Retail Stores, Convenience Stores, and Others), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2023 – 2030. Report at https://www.zionmarketresearch.com/report/candy-market

Recent Developments:

  • In the second quarter of 2023, Karl Fazer, a Finland-based firm in the chocolate candies-producing business, introduced a range of confectionary products in India. The initiative will embellish the expansion of the candy business in India.
  • In the first half of 2023, The World of Sweets, a UK-based distributor, importer, and wholesaler of confectionery items, launched two candy realms confectionery products. The move will embellish the expansion of the candy industry in the European region as well as across the globe.
  • In the second half of 2022, Lawson, a convenience store based in Japan, introduced flavorless candy tasting like emptiness. The strategic initiative will help in the expansion of the candy market in the Asia-Pacific region.

Key players in the global candy market include:

  • Palmer-candy (U.S.)
  • Candy Rush Muskoka (Canada)
  • Sweet Candy Company (U.S.)
  • Meiji Holdings Co.
  • Ltd (Japan)
  • THE HERSHEY COMPANY (U.S.)
  • Nestlé (Switzerland)
  • Cloetta (Sweden)
  • Mondelez International (U.S.)
  • Ferrero (Italy)
  • Mars
  • Incorporated (U.S.)
  • Pladis Global (UK)
  • LOTTE CONFECTIONERY CO.LTD (South Korea)
  • Storck (German)
  • Perfetti Van Melle (Netherland)
  • General Mills Inc. (U.S.)
  • Arcor (Argentina)
  • THE BANG CANDY COMPANY(U.S.)
  • Quality Candy Company (U.S.)
  • SUGARFINA USA LLC (U.S.)
  • HARIBO GmbH & Co. KG (Germany)
  • Jelly Belly Candy Company (U.S.).

The global candy market is segmented as follows:

By Product Type

  • Chocolate Candy
  • Non-Chocolate Candy

By distribution Channel

  • Supermarket/Hypermarket
  • Specialty Stores
  • Online Retail Stores
  • Convenience Stores
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

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