Published Date: March 2024
The report "Candy Market, By Product Type (Chocolate Candy, and Non- Chocolate Candy (Hard Boiled Candies, Pastilles, Gums, Jellies and Chews, Toffees, Caramels and Nougat, and Others)), By Distribution (Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, and Others), and Region - Global Forecast to 2032" global candy market is projected to grow from US$ 94.9 billion in 2022. The prime facets influencing the growth of the global candy market are the incessantly increasing expenditure capacity of consumers and growing urbanization. The growing target consumer base and product innovation is further expected to drive the growth of the candy market. The majority of candies are made for children and the young population. The demand is basically driven by population growth, disposable income, and consumer tastes and preferences.
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.
Key Market Insights from the report:
The global candy market accounted for US$ 94.9 billion in 2022 and is projected to register a moderate CAGR of 3.5% over the forecast period. The market report has been segmented on the product type, distribution, and region.
- By product type, non-chocolate candy market records a higher growth rate due to changing consumer preferences.
- By distribution, the global candy market is categorized into Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, and Others.
- By region, North America is projected to lead the global candy market and is expected to remain dominant during the forecast period, due to growing population.
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Competitive Landscape:
The prominent player operating in the global Candy market includes The Hershey Company, Nestle, Perfetti Van Melle, Mondelez International, Mars, DeMet’s Candy Co., Ferrera Candy Co., Arcor, August Storck KG, Yildiz Holding.
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