Candy Market is estimated to be US$ 133.66 billion by 2030 and is anticipated to register a CAGR of 3.5% - By PMI

Covina, March 08, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of Candy Market accounted for US$ 94.91 billion in 2020 and is projected to register a moderate CAGR of 3.5% over the forecast period”

Key Highlights:

• In October 2019, Hershey announced Halloween legends Neil Patrick Harris and Reese’s team up to bring ultimatum ‘trick’ or ‘treat’ house this season.
• In September 2019, Mondelez International announced about building a promising future for cocoa farming communities.

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Segmentation of Report:

The Candy Market is segmented based on product type, distribution channel and region.

Candy Market, By Product Type

On the basis of product type, the Candy Market is segmented into Chocolate Candy, and Non- Chocolate Candy (Hard Boiled Candies, Pastilles, Gums, Jellies and Chews, Toffees, Caramels and Nougat, and Others), All chocolate is technically candy, but two words lose their relevance when discussing high-quality chocolate, The non-chocolate candies in the market contain most of the greatest candies of all time (that are sweet and chocolate free).

Candy Market, By Distribution Channel

On the basis of distribution channel, the target market is classified into Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, and Others. Availability of majority of candy brands at one location along with other confectionery products is expected to drive the growth of the specialist stores segment during the forecast period. Growth in convenience stores is a major factor in the expansion of the candy market worldwide. Online sales channels have grown significantly during the global pandemic as most consumers prefer to shop online from their homes, various discount offers are also an added benefit of online shopping.

Regional Insights:

On region the Candy Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The market in North America accounts highest revenue share to the global candy market. The target population for the candy market is primarily children and young population.  The growing population has led to the high demand for candies, fueled by impulsive purchase behavior of consumers. Asia Pacific candy market is projected to register a high CAGR over the forecast period owing to increase in disposable income and change in tastes and preferences.

Report Scope:

1. 1. Global Candy Market, By Product Type, 2020 – 2030, (US$ Mn)
      • Overview
        • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
        • Y-o-Y Growth Analysis (%), 2020 – 2030
        • Segment Trends
      • Chocolate Candy
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
      • Non- Chocolate Candy
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
          • Hard Boiled Candies
          • Pastilles, Gums, Jellies and Chews
          • Toffees, Caramels and Nougat
          • Others
   2. Global Candy Market, By Distribution, 2020 – 2030, (US$ Mn)
      • Overview
        • Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
        • Y-o-Y Growth Analysis (%), 2020 – 2030
        • Segment Trends
      • Supermarkets and Hypermarkets
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
      • Convenience Stores
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
      • Specialist Retailers
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
      • Online Retail
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
      • Others
        • Overview
        • Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030

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Who are the Top Key players operating in the Candy Market?

• Hershey Company
• Nestle
• Perfetti Van Melle
• Mondelez International
• Mars
• DeMet’s Candy Co.
• Ferrera Candy Co.
• Arcor
• August Storck KG
• Yildiz Holding.

Key Reasons to Purchase:

Some Key Reasons Why Someone Might Choose To Invest In Or Enter The Candy Market:

1. Strong demand: Candy is a popular treat enjoyed by people of all ages around the world. The demand for candy has remained steady, even during economic downturns, making it a reliable and consistent market.
2. Diversification of products: Candy manufacturers continue to develop and introduce new products to the market, including sugar-free, organic, and non-GMO candies. This diversification of product offerings helps to keep the industry relevant and attractive to consumers.
3. Innovation: The candy industry is constantly innovating and introducing new products and flavors to the market, which helps to keep consumers interested and engaged. This innovation can lead to new opportunities for growth and expansion.
4. Growing global market: The global candy market is expected to continue to grow in the coming years, driven by factors such as rising disposable incomes, increasing urbanization, and changing consumer preferences.
5. Strong distribution networks: Candy manufacturers have well-established distribution networks that help to ensure their products are available in a wide range of retail locations, from grocery stores to gas stations.

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