Increasing disposable
income, rising expenditure capacity of consumers and rapid urbanization to
drive global candy market through 2024
According
to TechSci Research report, “Global Candy MarketBy Product Type,By
Distribution Channel, By Region, Competition, Forecast & Opportunities,
2024”, the global candymarket is
expected to grow at CAGR of close to 3% during the forecast period on account of
rising popularity of dark chocolate, increasing disposable income and
expenditure and rapid urbanization.However, rising health consciousness might
hamper the growth of the market. To deal with this, manufacturers are coming up
with sugar-free and low-calorie candies. For instance,Sejoyia Foods have launched
two new flavors, i.e., Coconut Cashew, and Coco-Roons. Coco-Roons gives an
indulgent taste in a cookie with no refined sugar and no gluten added.
Browse market data Tables and Figures spread through Pages and an in-depth TOC on
"Global Candy Market"
Global candymarket can be segmented based on product type, distribution channel
and region. In terms of product type, the market can be categorized into sugar
candy, chocolate candy and gum candy.Among these, sugar candy segment is likely
torecord a higher growth rate due to changing consumer preferences. On the
basis of regions, global candy market can be segmented into North America,
South America, Europe, Asia-Pacific and Middle East & Africa. North America
dominated the market in 2018, with respect to candy market's revenue.Asia-Pacific
region is anticipated to witness significant growth during forecast period due
to increasing population and elevating disposable income in economies like China
and India.
Nestle SA, Meiji Holdings Co. Ltd, General Mills Inc., Mondelez
International, Arcor, Mars Incorporated, Kellogg’s, Lotte Confectionery Co.
Ltd, Crown Confectionery Co. Ltd and The Hershey Company., etc., are some of
the leading players operating in global candymarket.On account of rising health
consciousness, the manufacturers are making healthy snacks, cereal bars, and
diet food among other snack items. Product launches, mergers and acquisition
are some of the strategies that are adopted by the leading players in order to
register growth in the market.For instance, Nestle SA introduced KitKats in
various flavors such as dark chocolate and green tea to stay ahead in the
market. Moreover, introduction of organic contents, healthy nuts, and alcohol
flavor is further fueling growth in global candy market.
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According
to TechSci Research “The global candy market is
anticipated to register a CAGR of close to 3%during the next five years due to
growing consumer base and increasing disposable income. Moreover, product
innovation and high demand for candies during festive season are further
anticipated to positively influence the growth of the market through 2024.”
said Mr. Karan Chechi, Research Director with TechSci Research, a research
based global management consulting firm.
“Global Candy Market By Product Type,By Distribution
Channel, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global candymarket
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges and opportunities in global candymarket.
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