Gummy Candy Market Scope
Gummy Candy are the gelatine based sweet candies which are available in different shapes and size. Initially it was launched for children but later the adults also started consuming it. As the children are attracted towards the shapes and packaging, the manufacturers are working to innovate the same. The rising consumption and availability of wide range of candies is acting as a driving factor to this market.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Haribo (Germany), Albanese (United States), Twizzlers (Canada), Hi-Chew (Japan), Sunkist (United States), Ferrara Candy Company (United States), Land of the Gummies (United States), Cloetta (Sweden), Ferrero (Italy), Mars (United States), Nestlé (Switzerland) and The Hershey Company (United States) |
CAGR | 11.0% |
In Gummy Candies Market, the Key Players are Focusing on Developing new Taste and Packaging as it attracts the Children. They are also planning to Increase their Operations Across the Globe. Research Analyst at AMA estimates that Global Vendors will contribute to the maximum growth of Global Gummy Candy market throughout the predicted period.
Haribo (Germany), Albanese (United States), Twizzlers (Canada), Hi-Chew (Japan), Sunkist (United States), Ferrara Candy Company (United States), Land of the Gummies (United States), Cloetta (Sweden), Ferrero (Italy), Mars (United States), Nestlé (Switzerland) and The Hershey Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are Nestle (Switzerland) and The Hershey Company (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Gummy Candy market by Type , by Application (Children and Adult) and Region with country level break-up.
On the basis of geography, the market of Gummy Candy has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In August 2023, Candy Club, a brand that offers candy in giftable packaging, has announced a partnership with Crayola to introduce the Crayola Candy Club collection. The collection, available to consumers and wholesalers, was inspired by Crayola colors that tie back to candies through shapes and flavors
In November 2023, Emoji, The Iconic Brand partners with Trolli China, a prominent gummy candy enterprise under Mederer Group, to launch a new range of center-filled gummy candies. The deal was brokered by Medialink, agent for emoji® -The iconic Brand for the Mainland China region.
Influencing Trend:
Multi Vitamins Gummy Candies are Available which can be Consumed Easily and Manufacturers are Introducing Candies which can be Used for Weight Management
Market Growth Drivers:
Demand For on the Go Consuming Products is Driving the Market and Growing E-Commerce Industry is Providing the Platform to Sellers
Challenges:
Overconsumption of Gummy Candies May Lead to the Health Issue and Growing Health Consciousness Among the People is Affecting the Sale of Sweet Candies
Restraints:
Government Restrictions on the Ingredients Added in the Candies and High Manufacturing Costs are Incurred as the Sweetening Products as Ingredients are Priced Accordingly
Opportunities:
Increase in Chronic Diseases is Accelerating the Sale of Vitamin Gummy Candies and Disposable Income has Increased Which has Allowed the People to Purchase These Kind of Products
Key Target Audience
Manufacturers, Food and Beverage Industries, Research Institutes, Suppliers and Distributers and Government Associations