Global Candy Market - 2020-2027
発行: DataM Intelligence
ダークチョコレートの人気の高まりに加え、可処分所得の上昇は、世界のキャンディー市場の成長を後押しします。さらに、子供や若者の間でのキャンディーの強い需要は、世界のキャンディー市場の成長をさらに支えています。キャンディー市場のターゲット人口は、子供と若者です。Bureau of the Census (米国国勢調査局) によると、2016年には、0～17歳の子供が7,360万人を占めました。
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. Global candy market was valued at over USD xx million in 2019 and is anticipated to grow at a CAGR of over XX%, during the forecast period owing to increasing innovation in existing products and rising demand for chocolate products globally. However, rising health concerns about diseases like obesity and diabetes are somewhat inhibiting the growth of the global candy market. To tackle this situation, sugar-free and low-calorie candies are being manufactured by the companies. Major challenges faced by the industry include rising government regulations, changing end user preferences and health issues, which might hamper the growth of the market through 2027.
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 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. According to the U.S. Census Bureau, in the year 2016, children aged 0-17 years accounted for 73.6 million populations. Moreover, growing availability of 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. For instance, Big Red is a cinnamon-flavored gum manufactured by Mars Incorporated. Furthermore, changing consumer taste and preference in developed and developing economies will further propel the growth of the global candy market.
However, the increasing concern related to the obesity and diabetes among consumers and growing health awareness among the individuals may hinder the growth of the global candy market.
The global candy market has been segmented by type into chocolate candy and non-chocolate candy. The non-chocolate candy segment held the largest share as of 2019 due to the variety of flavors available in the form of hard candies, chewing gums, lollipops, gummies, caramel candies, jelly candies, and many others. Toffees, caramels and nougat segment held a significant market revenue share of XX% in the year 2019. According to CalorieKing.com, caramel candies contain around 7.8g of carbohydrates and 0.5g of protein, which provides energy to the body. Based on The American Heart Association, saturated fats block the arteries and are recommended to be a maximum of 7% of the overall daily calories. A caramel candy contains 0.3g of saturated fat. Thus, this segment generated significant revenue in the year 2019.
On the other hand, chocolate candies are highly preferred by all age groups. Chocolate flavor has many health benefits, such as it helps in reducing mortality rates, and also aids in treating diseases like bronchitis and depression. In addition, dark chocolates possess huge health benefits due to the cocoa content. It aids in proper blood flow in the body and facilitates overall blood vessel functionality.
By geography, Asia Pacific is expected to dominate the global candy market in the year 2019, growing with a CAGR of xx% during the forecast period. The growing population in emerging economies has led to the high demand for candies, fuelled by impulsive purchase behaviour of consumers. Developing economies, where per capita candy consumption is very low compared to their western counterparts is slowing increasing. Many countries are witnessing campaigns and media advertisements related to innovative candy products which are directly impacting the sales rate of sugar-based confectionary. Companies are increasingly launching products with innovative flavours such as raw mango, Tamarind, Strawberry and others to woo consumers.
The global candy market is highly competitive with a huge number of domestic companies capturing minimal share in the market. Some of the key companies of the market include The Hershey Company, Ferrara Candy Co., Mars Incorporated, and Nestle SA among others. With a wide portfolio of well-known brands, these companies are dominating the candy market. Owing to the rapidly developing nature of the market, launching a new product has become the most important strategy, among all. Moreover, the key players are focusing on strategic initiatives such as collaborations/partnerships, and geographic expansions. For instance, In March 2017, Hershey singed a five-year extended agreement with Turner Sports, CBS Sports, and the NCAA in order to be their official confectionery partner.
The imports and exports of various products have been paused due to pandemic situation. The exports of raw materials required for chocolates have declined from 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 other and it negatively impacts the candy market as there is less/no manpower for productions. 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.