Candy Market Growth Accelerated by Pleasing Kids Taste Buds

Candy is a confection that features sweeteners as a major component. Candy comes in a broad range of textures, including hard candy, fudge, jelly beans, and gumdrops. Candy satisfies the desire for a sweet taste and gives an energy boost. The indulgence of eating candy makes it a popular treat among kids and adults alike.

Market key trends:

The candy market has been witnessing growth due to kids' preferences for new candy flavors. Candy manufacturers are focusing on developing innovative flavors of candy to attract kids and increase their sales. For instance, chocolate candies are now available in flavors like sour blueberry, mint chocolate swirl etc. Besides new flavors, decorative and colorful candy packaging is also drawing the attention of kids. Vibrant candy packaging coupled with innovative flavors has boosted the demand from kids. This trend is expected to continue driving the candy market growth over the forecast period.

Segment Analysis

The global candy market is dominated by chocolate candy segment. Chocolate candies are preferred more due to their great taste and variety. As per consumer tastes and preferences, chocolate candies are further segmented into milk chocolate candy, dark chocolate candy, white chocolate candy etc. Among these, milk chocolate candy dominates with around 40% market share owing to its sweetness and affordability for people across income groups.

Key Takeaways

The Global Candy Market Demand is expected to witness high growth. With rising per capita incomes and increasing sweet tooth tendencies, the demand for candies is set to surge in coming years. Innovation in flavors, preferences for specific flavors during festive seasons also help market grow.

Regional analysis: North America region currently dominates the global candy market. The US accounts for majority share owing to huge demand for chocolates and sugar confectionery products across households. However, Asia Pacific region is emerging as the fastest growing market. Rising disposable incomes, western influences, expansion of organized retail in countries like India and China are fueling the candy market growth in Asia Pacific region.

Key players operating in the candy market are Accion S.A., Cargill Incorporation, Jost Chemical Co., Nutrena, Tyson Food Inc., Anheuser-Busch InBev NV, Corbion, Henan Jindan Lactic Acid Technology Co Ltd., Land O'Lakes Inc., Provimi, Shenzhen Esun Industrial Co., Ltd.. These players are focusing on new product launches, acquisition strategies to expand their market shares.

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