Candies are known as confectioneries, preparation of candy contains sugar, honey, and other natural or synthetic sweeteners in combination with chocolate, milk, fruits, nuts, or other ingredients that are made in the form of bars, drops, and pieces. Certain types of candies can add valuable protein, minerals, and vitamins which support bodybuilding and encourage general well-being.
Global Candy Market was valued US$ 217.5 Bn in 2020 and is expected to grow US$ 284.29 Bn by 2027, at a CAGR of 3.9% during the forecast period.
Candy Market Overview:
This Candy market study looks at current and emerging industry trends and dynamics in the global Candy market. Candy Extensive market forecasting for the major market segments is carried out between 2021 and 2027. Extensive Candy market analysis is carried out by closely monitoring key product positions and the main competitors in the market framework. To understand the competitive landscape of the worldwide Candy market, key players are profiled and their strategies are thoroughly evaluated.
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Candy Market Scope:
The analysis contains a current examination of the present Candy market landscape, as well as the most recent trends and drivers, as well as an overview of the entire Candy market environment. Increased demand for Candy is driving the market. The Candy market research examines the technology, end-user, and type categories, among other things, as well as the geographical landscape.
Segmentation:
By product type, chocolate candies contain chocolate as well as cocoa products. The non-chocolate candy market is further separated into hard-boiled candies, pastilles, gums, jellies & chews, toffees, caramels & nougat, mints, and others. The non-chocolate candy market registers the largest growth rate, because of varying consumer inclinations.
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Key Players:
The market research report provides comprehensive quantitative insights that provide a clear picture of the worldwide market potential in a variety of categories, as well as country-by-country analyses in each covered topic. The analysis investigates the market’s major influencing factors, as well as complete company profiles of
- THE HERSHEY COMPANY
• Nestlé
• Meiji Holdings Co., Ltd.
• General Mills Inc.
• Mondelēz International
• Kellogg NA Co
• Mars, Incorporated
• pladis global
• LOTTE CONFECTIONARY CO.LTD.
• August Storck
• Perfetti Van Melle
• HARIBO of America, Inc.
• Arcor
• Ferrero
• Cloetta
• Sweet Candy Company.
• THE BANG CANDY COMPANY
• Quality Candy Company
• Muskoka Candy Company
• The Ferrero Group.
• palmer-candy
• SUGARFINA INC.
• Jelly Belly Candy Company
Regional Analysis:
Individual market influencing variables and changes in market laws that impact present and future market trends are also included in the regional segment of the Candy market study. Data points such as downstream and upstream value chain analysis, technology trends, porter’s five forces analysis, and case studies are just a few of the indicators utilized to anticipate market scenarios for various industries. When examining projection data for the region, the existence and availability of global players, as well as the obstacles they face as a result of substantial or low to none competition from local and domestic brands, are all taken into account.
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COVID-19 Impact Analysis on Candy Market:
The COVID-19 epidemic has had a significant impact on the global Candy industry. Candy Production facilities were halted due to the global economic slump and a lack of manpower. The COVID-19 pandemic has led to a significant and extended drop in production utilization, and travel prohibitions and facility closures have kept personnel away from their facilities, causing the Candy market to decelerate in 2020. The negative impact of COVID-19 on the Candy market, on the other hand, is expected to be transitory, and the sector is expected to revive significantly by early 2021, owing to increased demand for Candy.
Key Questions Answered in the Candy Market Report are:
- Which segment was responsible for the largest share in the Candy market?
- How was the competitive scenario of the Candy market in 2020?
- Which are the key factors responsible for the Candy market growth?
- Which region held the maximum share in the Candy market in 2020?
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