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 Market By Product Type, By
Distribution Channel, By Region, Competition, Forecast & Opportunities,
2024”, the global candy market 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 candy market 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 to record 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 candy market. 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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“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 candy market 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 candy market.
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