Confectionery Market Trends: Exploring Demand in North America, Europe, and Asia Pacific
Global Candy Market Set for Robust Growth Amidst Strategic Mergers and Regional Trends
The global candy market is projected to expand from USD 243.95 billion in 2023 to approximately USD 318.87 billion by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 3.9% during the forecast period. This growth is driven by increasing consumer demand for confectionery products, particularly in emerging markets, and continuous product innovation by key industry players.
Competitive Landscape and Regional Demand
The candy industry is characterized by the presence of major companies such as Mars, Incorporated, The Hershey Company, Mondelez International, and Nestlé, which continually innovate to meet evolving consumer preferences. North America, especially the United States, holds a dominant position in the market due to a strong tradition of confectionery consumption and the presence of leading manufacturers.
United States: Growth Opportunities and Trends
In the United States, the candy market is experiencing steady growth, bolstered by product diversification and seasonal demand spikes during holidays like Halloween and Easter. The trend towards premium and organic candies is also gaining traction among health-conscious consumers. Notably, Mondelez International, owner of the Cadbury brand, is exploring the acquisition of The Hershey Company, a move that could significantly reshape the U.S. confectionery landscape.
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Asia Pacific: Rapid Growth and Market Expansion
The Asia Pacific region is witnessing rapid growth in the candy market, driven by rising disposable incomes and the westernization of dietary habits. Countries like China and India are seeing increased demand for both traditional and innovative candy products, presenting lucrative opportunities for market expansion. Strategic mergers and acquisitions in this region are facilitating the entry of global brands into local markets, further propelling growth.
Europe: Market Trends and Developments
Europe's candy market remains robust, with a strong emphasis on quality and artisanal products. The region's rich confectionery heritage continues to influence consumer preferences, leading to sustained demand for both classic and novel candy offerings. Recent developments include Mars, Incorporated's agreement to acquire Kellanova, the maker of Pringles and Pop-Tarts, for $35.9 billion, aiming to expand its product categories and geographical reach, particularly in Africa and Latin America.
Middle East and Africa: Emerging Opportunities
In the Middle East and Africa, the candy market is emerging, with increasing urbanization and a young population driving demand. The growing influence of Western culture and the expansion of retail networks are further contributing to market growth in these regions. Strategic partnerships and acquisitions are enabling companies to establish a foothold in these emerging markets, capitalizing on the untapped potential.
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Ultrafiltered Milk Market segmentation :
by Product Type
Chocolate Candy
Non- Chocolate Candy
Hard Boiled Candies
Pastilles, Gums, Jellies and Chews
Toffees, Caramels and Nougat
Mints
Others
Chocolate candies are a product class that includes both chocolate and cocoa items. Hard-boiled candies, pastilles, gums, jellies & chews, toffees, caramels & nougat, mints, and other products are further subdivided into the non-chocolate candy sector. Due to different consumer preferences, the non-chocolate candy has the highest growth rate. The demand for non-chocolatey sweets is rising as a result of athletes' growing use of gums and chews as well as children's growing interest in jellies and toffees. On the other hand, during the course of the forecast period, chocolate candies are anticipated to capture the greatest market share.
by Price Point
Economy
Mid-Range
Luxury
by Age Group
Children
Adult
Geriatric
by Distribution Channel
Supermarkets and Hypermarkets
Convenience Stores
Specialist Retailers
Online Retail
Others
The market is divided into Supermarkets and Hypermarkets, Convenience Stores, Specialist Retailers, Online Retail, and Others based on the Distribution Channel. The candy market was dominated by the Supermarkets and Hypermarkets category, which is anticipated to hold the greatest market share over the 2024–2030 forecast period. Supermarkets need to adjust to the rapidly changing demands of their customers. Customers' desire for candy is increased by their variety, availability, and occasionally special offers.
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Learn about the top players driving innovation in the Ultrafiltered Milk Market :
1. THE HERSHEY COMPANY - United States
2. General Mills Inc. - United States
3. Mondelēz International - United States
4. Kellogg NA Co - United States
5. The Bazooka Companies – United States
6. Mars, Incorporated - United States
7. HARIBO of America, Inc. - United States
8. Sweet Candy Company. - United States
9. THE BANG CANDY COMPANY - United States
10. Quality Candy Company - United States
11. Muskoka Candy Company - Canada
12. Palmer-candy - United States
13. SUGARFINA INC. - United States
14. Jelly Belly Candy Company - United States
Candy Market Key Players for Europe
1. Nestlé– Switzerland
2. Pladis Global - United Kingdom
3. August Storck - Germany
4. Perfetti Van Melle - Italy
5. Cloetta – Sweden
6. The Ferrero Group. - Italy
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