Global
Candy Market: Overview
The
food and beverages industry identifies candy as a part of the
confectionary industry and uses the term confectionary and candy
interchangeably. This preferably includes preserves, pastries, and
ice creams. The global candy market has been segmented on the basis
of the presence of chocolate. The candy market is considered to be a
seasonal market and has skyrocketing sales during festive seasons. To
meet the mounting requirements for candies during festive seasons,
manufacturers raise the employment in order to intensify production
and output. Chocolate candies are referred to the ones which include
cocoa products or chocolate in them, for instance cocoa butter.
Non-chocolate candies comprise confectionary products which do not
have chocolate or any chocolate-replicate within them such as
marshmallows, licorice, hard candies, and jelly beans.
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This
market study is an assessment of the growth scenarios and
chronological tract of the global candy market. It deals with the
valuation of the facets that have been projected to influence the
expansion of the market both destructively and positively. Further,
the significant trends have also been indicated in the publication.
The market study further presents an extensive outlook on the seller
background of the market referring to Porter’s five forces
analysis. The research report also deals with the R&D
accomplishments, mergers, acquisitions, and essentials on
certifications and partnerships. The report analyses the tactics
related to shares, profile-raising, and product series of the key
companies in the global candy market.
Global
Candy Market: Drivers and Restraints
The
prime facets influencing the growth of the global candy market are
the incessantly increasing expenditure capacity of consumers and
growing urbanization. The growing target consumer base and product
innovation is further expected to drive the growth of the global
candy market. The majority of candies are made for children and the
young population. The demand is basically driven by population
growth, disposable income, and consumer tastes and preferences. Large
multinational companies have a significant advantage over small and
medium scale companies in terms of economies of scale in purchasing
and manufacturing.
The
industry demand is likely to get subdued because of growing health
concerns among consumers, shifting preferences, and falling prices of
sugar with low selling prices. The promotion by companies selling
health improving products is also a prime inhibiting factor in the
growth of the market. Most of these are underpinned by research and
scientific studies. As candies contain a sizeable quantity of sugar,
thus they are directly connected with diabetes and obesity. This
issue is likely to be addressed by the development of low-calorie and
sugar-free candy substitutes. However, the performance of the
global
candy market is anticipated to gain speed owing to the rising
consolidation and investment in innovation by leading multinational
companies. As a result of this, candy manufacturers are likely to
develop healthier candy alternatives to mitigate the adverse
perception consumers have towards candy.
Global
Candy Market: Key Regions
Europe,
Asia Pacific, and North America are likely to emerge as lucrative
markets for the manufacturers of candy across the world. The growing
innovations, rising disposable income, and increasing candy
consumption across various age groups in these regions is likely to
bode well for the market growth here.
Global
Candy Market: Vendor Landscape
The
competition among the players in the global candy market is
relatively strong with the presence of a large number of companies
and variety of products. It is likely to be moderately difficult for
new players to enter the market due to strong positioning of the
leading companies. A sufficient amount along with safety standards
and packaging rules makes entry in the market a rather difficult
task. Some of the leading players in the market include Nestlé
Nestle SA, DeMet’s Candy Co., MondelĂ©z International Inc., Mars
Inc., and Ferrara Candy Co.
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