Candy Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Candy Market is segmented By Type (Chocolate Candy, Non-Chocolate Candy), By Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Specialty Stores, Online Retailers, Others), and By Region (North America, South America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Candy Market Size

The Global Candy Market reached USD 62.3 billion in 2022 and is expected to reach USD 80.1 billion by 2031 growing with a CAGR of 3.2% during the forecast period 2024-2031. Increasing disposable income of people, along with the rising popularity of dark chocolate will drive the growth of the global candy market. Additionally, the strong demand for candies among children and the young population will further support the market growth of candy across the globe.

The lucrative target population for the candy market is the children and the young population. One trend in the candy market is the growing demand for healthier and natural candy options, with consumers seeking products made with organic ingredients, reduced sugar content, and no artificial additives or preservatives. 

Sweet treats like candy provide indulgent and enjoyable experiences, satisfying cravings for sweetness and offering a wide variety of flavors and textures to delight consumers of all ages. Hard candy and soft candy are popular confectionery products loved for their sweet taste and wide range of flavors. Lollipops are a classic type of candy characterized by a hard, flavored candy on a stick, providing a long-lasting and enjoyable treat for individuals of all ages.

Candy Market Scope

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Candy Market Dynamics

New Candy Flavors Unveiling in the Market is Expected to Drive the Market Growth 

The growing availability of the various type of candies has increased the demand for candies worldwide. Rapid innovation in existing products driven by the growing demand for chocolate products will increase the demand for candy globally. Key players are focusing on introducing low calorie and sugar-free candies due to the increasing health concerns among the population which will create more opportunities in coming years. 

Increase in the product launches by major key players helps to boost market growth. For instance, on June 10 2022, Mondelēz International launched Cadbury Dairy Milk with 30% Less Sugar in India. This new product is free from added artificial sweeteners. Cadbury Dairy Milk 30% Less Sugar is a special innovation that provides Cadbury Dairy Milk fans with a less sugar option without compromising our world-renowned taste and quality.

The Growing Availability of Sugar-Free Candies 

In recent years, sugar-free sweets have been more commercially successful due to rising health consciousness and consumer demand for low-sugar confectionery products. As more people experience a sugar rush after consuming chocolates with high sugar content, there is a surge in demand for sugar-free candies among the general public.

Additionally, rising health consciousness, changing eating patterns, a changing lifestyle and product innovation will all contribute to the growth of the global candy market. Additionally, diabetic patients have created a significant market opportunity for sugar-free foods like dark chocolate and cookies. 

Major key players in the market launched new low calorie candy products in the market. For instance, on March 03, 2023, Oomph! Sweets, a confectionary company launched low-sugar vegan candy in the market. The new launched candies are made from the natural ingredients and are gluten-free, vegan, keto-friendly, low-calorie.

Rising Consumers Health Awareness Hampers Market Growth

The primary issues impeding the growth of the global candy market are the high sugar content of sweets, which increases the likelihood of dental problems due to high candy intake and results in weight gain. Additionally, it is projected that rising health consciousness among the populace will lower candy demand and restrain market expansion throughout the projection period. Consumer concern over obesity and diabetes and rising health consciousness among people could impede the expansion of the world confectionery market.

Sugar consumption is known to be unhealthy. Governments and non-governmental groups from all over the world are very concerned about it. As a result, some of the top merchants in UK outlawed the sale of confectionery and sugary beverages at the register. Additionally, U.S. Food and Drug Administration (FDA) started many regulatory modifications. Their objectives include encouraging customers to purchase healthier products, changing industry standards for the food sector, facilitating consumers' decision-making and requiring food manufacturers to disclose additional sugar on food labels. 

Candy Market Segmentation Analysis

The global candy market is segmented based on type, form, distribution channel, and region.

Increase in Consumers Demand for Chocolate Candy 

The global candy market by type has been segmented by chocolate candy and non-chocolate candy. 

Chocolate candies are highly preferred by all age groups. Chocolate flavor has many health benefits, such as helping in reducing mortality rates and also aids in treating diseases like bronchitis and depression. In addition, dark chocolates possess huge health benefits due to their cocoa content. It aids in proper blood flow in the body and facilitates overall blood vessel functionality. 

Some of the major key players new chocolate candies in the market to fulfill consumers demand. For instance, on January 13, 2023, Chocolate Storybook Too Inc, a confectionary company partnered with Sanrio, a Japanese entertainment company, to launched Friends Cotton Candy and Hello Kitty candy in the market.

Global Candy Market Geographical Share

Increase in Consumers Demand for Candy in Asia Pacific

The growing population in emerging economies has led to the high demand for candies, fueled by the impulsive purchase behavior of consumers. Developing economies, where per capita candy consumption is very low compared to their western counterparts is slowly increasing. Many countries are witnessing campaigns and media advertisements related to innovative candy products which are directly impacting the sales rate of sugar-based confectionery. Companies are increasingly launching products with innovative flavors such as raw mango, Tamarind and Strawberry to win the attention of consumers. 

Some of the key players expand their operations in Asia Pacific region to fulfill consumers demand for the candy. For instance, on February 07, 2023, Nestlé and Mars, major confectionary companies launched their iconic chocolates and candy brands in paper packaging in Australia. 

Candy Market Companies

The major global players in the market include Perfetti Van Melle Group B.V., Mondelez International, Inc., Mars, Incorporated, Haribo GmbH & Co. KG, Nestle S.A., The Hershey Company, Ferrero Group, Cloetta Ab, Grupo Arcor, and DeMet’s Candy Co.

COVID-19 Impact on Candy Market

COVID-19 Impact 

Candy products have acquired a prominent place in households across the globe due to COVID-19 lockdown implementations and lockdown extensions. The preference for sweet indulgence has increased due to more consumers working from home. Early sales data of the candy market across the globe registered a steep decline in the gums and mint category as a result of COVID-19, white chocolate candy, as well as non-chocolate candy, continues to attain strong growth. COVID-19 also brought massive changes to the retail side of the candy industry.

However, the imports and exports of various products have been paused due to the pandemic situation. The exports of raw materials required for chocolates have declined from the previous year, which will impact the overall market. The majority of the confectionery manufacturers have shut down which also reduces the requirement of the imported raw materials. Partial lockdown in other cities and states includes access to all the shops with restricted timings. These regulations vary from one country to another and it negatively impacts the candy market as there is less/no manpower for production. For instance, in the U.S., The Hershey Company has temporarily closed all the facilities effective from March 15th 2020. The company also closed its branches around the world, owing to lockdown. 

Russia-Ukraine Impact Analysis

Political and economic factors, trade policies, consumer preferences, and market dynamics specific to the region can impact the candy market in Russia and Ukraine. Currency fluctuations, changes in regulations or import/export policies, and political tensions between the two countries may affect the flow of goods and trade between them.

Moreover, economic conditions, such as changes in income levels, consumer spending patterns, and purchasing power, can also have an impact on the demand for candies in both Russia and Ukraine. Local preferences and cultural factors may influence the types of candies consumed and the market share of different brands. It's essential to consider the unique market dynamics and consumer behavior of each country when analyzing the candy market in Russia and Ukraine.

By Type

• Chocolate Candy
• Non-Chocolate Candy 

By Distribution Channel

• Supermarket/Hypermarket
• Convenience Stores
• Specialty Stores
• Online Retailers
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • The U.K.
  • France
  • Italy
  • Spain
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• On May 18, 2022, Perfetti Van Melle USA, Inc, multinational gum and confectionary company launched a Berry flavor of its Mentos Gum with Vitamins. The gum is sugar-free and contains 30% of the daily recommended dosages of vitamins B6, B12, and C. The Mentos Gum brand is the second-fastest growing brand in dollar sales in the U.S.
• On April 25, 2022, Mondelēz, an American multinational confectionary company paid D 1.3 Billion to acquire Mexico’s Leading Confectionery Company, Recolino. Ricolino has four manufacturing facilities and distributes its products to several channels, including traditional trade, supermarkets, convenience stores, and others.
• On October 07, 2021, Mondelēz International, an American confectionary company launched a Vegan Cadbury bar in the UK & Ireland. It has a creamy taste. Available in two flavors, Smooth Chocolate and Smooth Chocolate with Salted Caramel pieces. Cadbury Plant Bar range is wrapped in 100% plant-based packaging made from ISCC-certified bio-sourced plastics from renewable sources. 

Why Purchase the Report?

• To visualize the global candy market segmentation based on type, distribution channel, and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development. 
• Excel data sheet with numerous candy market-level data points all for segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The Global Candy Market Report Would Provide Approximately 53 tables, 43 Figures and 102 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies