A majority of candy products are targeted at children of families with high disposable incomes. The rise in the number of target consumers also supports the growth of this market. An increase in disposable income and urbanization drives the growth of this market. The rising demand for dark chocolate is another driver of this market. Dark chocolates are rich in antioxidants, which prevent or delay certain types of diseases, including cardiac diseases. However, health concerns like obesity and diabetes inhibit the growth of the market. Manufacturers have come up with sugar-free and low-calorie candies to tackle this situation. Several region level legislative measures to restrict junk food sales is also expected to affect the sales of candy products. There is a growing trend for high-quality products without an increase in the price. The fluctuating prices of raw materials might also pose a threat to this market.
The candy market has two major segments, chocolate candy, and non-chocolate candy. Chocolate candies contain either chocolate or cocoa products, and the non-chocolate candies contain confectionary products that do not include chocolate. The report segments the non-chocolate candy market by the product type into caramels, chocolate, gummies, hard candies, licorice, lollipops and sours, chewing gums, cotton candy, etc. The global candy market is further segmented by the distribution channel into super markets/hyper markets, convenience stores, grocery stores, online, and others
Regional Analysis
The global candy market has been geographically segmented into North America, Europe, South America, Africa, and Asia-Pacific. North America is the major contributor regarding revenue, followed by Europe. The United States alone generates a demand of more than 7.7 billion pounds every year. The growth of the market continues in the Asia-Pacific region led by populated nations like China and India. This is attributed to the increase in disposable income and change in tastes.
The market for candies is highly fragmented due to a large number of local and international suppliers. The vendors compete for innovation, pricing, and distribution. While on the global platform, the top five companies account for half of the industry revenues, small and medium firms from Europe also have significant global presence.
Market analysis for the global candy market, with region specific assessments and competition analysis on a global and regional scale. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the global candy market on both global and regional scales. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions where this industry is growing and also to identify the regions that are still untapped
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