Candy Market Size, Share, and Industry Analysis, By Product Type (Chocolate Candy and Non-Chocolate Candy [Hard Boiled Candies, Gums, Jellies, Caramels & Nougat, Mints, and Others), By Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Specialty Stores, Grocery Stores, and Online Retail), and Regional Forecast, 2024-2032

A candy is a type of sweet confection primarily made from sugar. Consumers in fast-paced environments often seek convenient snacks for on-the-go consumption. Candy fits the bill perfectly, offering a quick burst of flavor and energy. Urbanization and increasing per capita income are major factors significantly influencing the growth of the candy market. Candies are one the most demanded treats for enjoyment on occasions such as holidays, special celebrations, festivals, and birthdays, as sweet treats are associated with positive emotions and indulgence. According to the National Confectioners Association (NCA) study, around 84% of Americans intend to celebrate Easter with some form of confectionery.

The rising demand for healthier snacking with exotic taste & sensory benefits is also rising among consumers, leading to the popularity of special category confectioneries such as organic and low-sugar candies. Consumers have a rising interest in organic products, opening up new opportunities in the sector. The organic candies segment is witnessing significant growth globally and is gaining massive popularity among consumers. Manufacturers are also launching new products in order to meet the rising demand. For instance, in January 2024, Justin’s brand, a famous chocolate manufacturer owned by Hormel Foods, expanded its portfolio of organic chocolate treats by launching chocolate candy pieces. The new product is a verified USDA-certified organic, non-GMO project and uses Rainforest Alliance Certified cocoa.

Consumers are becoming increasingly health-conscious, and candy is often perceived as unhealthy due to its high sugar content. This can lead to parents restricting candy consumption by their children and adults making more mindful choices, further hampering the market growth.

Key Insights

The report covers the following key insights:

• Overview of the Candy Market


• Supply Chain Analysis


• Regulatory Analysis


• Drivers, Restraints, and Opportunities


• Impact of COVID-19 on the Global Candy Market


• Industry Key Developments

Segmentation

Analysis by Product Type

By product type, the market is classified into chocolate candy and non-chocolate candy (hard boiled candies, gums, jellies, caramels & nougat, mints, and others). The chocolate candy segment is anticipated to hold a major share of the global market. Chocolate has been a beloved treat for centuries. The rich flavor profile and variety of textures cater to a wide range of consumers. Chocolate is seen as a premium and indulgent treat, making it a go-to option for gifting someone or as an indulgence. This perception aligns with the growing trend of premiumization to drive the candy market growth. Seasonal and festive sales of chocolate products, such as those during holidays, including Christmas and Valentine's Day, highly impact the market as a large portion of chocolate products are sold during these periods. According to the National Confectioners Association (NCA) report, in 2023, 60% of total candy sales were made during four major seasons, including Valentine’s Day, Winter holidays, Easter, and Halloween.

The non-chocolate segment is expected to grow considerably over the forecast period. The non-chocolate segment consists of hard-boiled candies, gums, jellies, caramels & nougat, mints, and others. Gummy, lollipop, and sour candies are popular among children, whereas mints and sugar-free hard candies cater to more adults. The non-chocolate segment is experiencing a wave of innovation in flavors and textures. New candy formulations with innovative flavor combinations are constantly emerging. Manufacturers are also coming with new product launches in this category. For instance, in May 2024, Chupa Chups, one of India’s leading lollipop brands, entered the sour and fruity sweets segment owing to the growing demand. The new range comprises Sour Apple Belts, Sour Mixed Belts, Sour Strawberry Belts, and Strawberry Laces.

Analysis by Distribution Channel

By distribution channel, the market is divided into supermarkets/hypermarkets, convenience stores, specialty stores, grocery stores, and online retail. The supermarket/hypermarket segment is expected to hold a major share of the global market. Supermarkets typically carry a wide variety of candy brands, catering to diverse consumer preferences and allowing for impulse purchases. Candy and confectioneries are often placed strategically near the checkout counters, leveraging impulse buying behaviors. Supermarkets also offer a vast selection of candy under one roof, making it convenient for consumers to pick up candy along with their regular groceries. This ease of purchase is a major advantage, further fueling the market demand.

The online retail segment is expected to grow significantly over the forecast period. The overall trend of e-commerce is booming, further fueling the candy market. Consumers are increasingly comfortable purchasing products such as groceries and treats online, with reliable delivery services ensuring fresh products.

Regional Analysis

The global market is geographically segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. North America is expected to account for the most significant proportion of the global Candy market. The region is home to some of the world’s largest candy manufacturers, such as Hershey's, Mars Inc., Mondelez International, and others. These players have strong brand recognition, established distribution channels, and a history of successful product innovations, giving them a significant advantage in the market. The region has a well-documented fondness for candy as they celebrate various occasions with candies. Factors such as busy schedules and disposable incomes contributed further to a high overall consumption rate. According to the National Confectioners Association (NCA), in March 2024, chocolate and candy sales in the U.S. surpassed USD 5 billion.

Europe is anticipated to expand significantly in the coming years. Owing to increased permissive eating habits and taste preferences, consumers in the region have been constantly seeking out premium and high-quality candies. This translates to a strong demand for premium chocolates, gourmet candies, and regionally sourced ingredients, driving the growth in the market.

Key Players Covered

The report includes the profiles of key players, such as Mondelez International, CandyRific LLC / Hilco Sweets LLC, The Hershey Company,  Ferrero Group, Lindt & Sprungli, Boyer Candy Company, Inc., Atkinson Candy Company, Sweet Candy Company, Eillien's Candies Inc., and Mar Inc.

Key Industry Developments

• In May 2024, Ferrero International SpA, an Italian multinational company, launched Tic Tac Chewy, a new fruit candy with a crunchy exterior and chewy inside. The new product is available in five flavors, including apple, cherry, orange, grape, and lemon.


• In October 2023, Ferrara Candy Company, an American candy manufacturer, acquired Jelly Belly Candy Company, a manufacturer of jelly beans and other candy. The acquisition would combine Jelly Belly Candy Company’s more than 100 flavors of Jelly Belly jelly beans and other gourmet specialty confections with Ferrara’s broad portfolio of sugar candies.