Industry Background:
Candy, also called confectionery, is a sweet food product. Candy is an in-between meals treat 90% of the time. Snack and candy sales in the U.S. increase significantly around major holidays such as Halloween and Christmas. The high sugar content of candy would seemingly make these products inherently maligned. Therefore, large candy companies are attempting to clean up their products in order to boost sales. Nestlé, for example, has committed to removing artificial flavors and certified colors from chocolate candy products.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Key Companies Profiled | Mars Inc. (United States), The Hershey Company (United States), Lindt & Sprungli (Switzerland), Perfetti Van Melle (Italy), Nestle (Switzerland), Grupo Arcor (Argentina), Haribo (Germany), Mondelez International (United States), Meiji Co. (Japan) and Ferrero (Italy) |
This growth is primarily driven by Millennial Consumers Have Contributed To the Majority of Growth in Candy Consumption.
Globally, a noticeable market trend is evident Manufacturers Are Incorporating New Flavors to Engage Consumers Major Vendors, such as Mars Inc. (United States), The Hershey Company (United States), Lindt & Sprungli (Switzerland), Perfetti Van Melle (Italy), Nestle (Switzerland), Grupo Arcor (Argentina), Haribo (Germany), Mondelez International (United States), Meiji Co. (Japan) and Ferrero (Italy), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. Candies market companies operating in these industries are focusing more on efficient growth, improvement of operational efficiency and productivity, achieving high safety standards, and focusing on maintaining sustainable development. The market is highly competitive with a few players occupying the major share. The key players are highly focused on developing and innovating new strategies to maintain their market position and customer base. The companies are coming up with partnerships or agreements along with planning strategic activities such as partnerships, product launches, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge.
Key Developments in the Market:
In March 2021, Mondelez International announced it has entered into an agreement to acquire Gourmet Food Holdings Pty Ltd, a leading Australian food company with a strong position in the attractive premium biscuit and cracker category. Terms of the transaction were not disclosed. Gourmet Food is the leading manufacturer and distributor of premium entertaining food products
In January 2020, Hershey launched chocolate bars in India, expanding retail reach. Hershey India Private Ltd, the Indian subsidiary of the American confectionery maker, known for its syrups and spreads, announced the launch of chocolate bars under its flagship Hershey’s brand
Regulatory Insights:
Food & Drug Administration (FDA) recommends the maximum lead level of 0.1 ppm in candy likely to be consumed frequently by small children. FDA considers the recommended maximum lead level to be achievable with the use of good manufacturing practices in the production of candy and candy ingredients and to be protective of human health. This Food Additives Status List, formerly called Appendix A of the Investigations Operations Manual (IOM) includes the list of additives that are allowed during the manufacturing of candy and various food products. Color additives are subject to FDA approval before they may be used in food.
Influencing Trend:
Manufacturers Are Incorporating New Flavors to Engage Consumers
Market Growth Drivers:
Millennial Consumers Have Contributed To the Majority of Growth in Candy Consumption
Challenges:
Highly Competitive Market
Restraints:
Government Regulations to Prevent Health Hazards to Consumers
Opportunities:
Availability of Numerous Distribution Channels Likely To Boost Sales
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Vendors landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Candies Market
- Analysis about New Entrants in Candies Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Candies Study Sheds Light on
The Candies Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Candies industry Vendors. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Candies industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Vendors can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.