Candy, also referred to as confectionery, is a type of sweet food that is primarily composed of sugar. It is available in various shapes and sizes, such as small pieces, drops, or bars, and is made from a blend of a chocolate, milk, nut, fruit, and artificial sweetener. Additionally, some candies contain vitamins and minerals that are beneficial for bodybuilding due to their protein content. As a result, candy is a popular choice among consumers with busy schedules, as it is a convenient snack that can be consumed during breaks.
Market Dynamics
Candy market has been estimated to grow significantly in the coming years owing to not only its popularity among the children but also amongst the adults and its applications in various deserts such as ice cream sundaes. Apart from this, the attractive packaging of the candies has also played a vital role in the rise and expansion of the candy market all over the globe. Apart from this, the recommendation of the doctors to maintain the sugar levels among the diabetic patients has also known to contribute to the increasing demand for the candy market all over the globe.
Based on product type, the chocolate candy segment held the largest share in the global candy market in 2022. Apart from its rising demand from the millennial population, chocolate candy has also been gaining high demand due to new product launches such as low-calorie and fat-free chocolate candies.
Moreover, regional as well as local candy market manufacturers have been focusing on various growth strategies, including collaborations and merges & acquisitions, with major players globally to strengthen its market position.
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