Global Candy & Chocolate Manufacturing
The Global Candy and Chocolate Manufacturing industry has grown sluggishly over the five years to 2018, as consumers in developed markets became more attentive to sugar consumption, limiting their intake of nonchocolate candy. Although chocolate candy remains popular in both developed and emerging markets, volatile cocoa prices during the five-year period have driven operators to lower selling prices, limiting revenue from the chocolate segment. Emerging markets have become increasingly important to the industry. Rising disposable income and a growing middle class in places such as China, Brazil, India and the Middle East, have propelled discretionary demand for candy, especially chocolate, and encouraged major companies to open production facilities in those countries. Over the five years to 2023, IBISWorld expects the industry to benefit from further demand from emerging markets.
Industry operators purchase and process sugar, cocoa, cornstarch, nuts, fruits, emulsifiers and flavorings, to create chocolate and other confectionery products. Final industry products include chocolate, chewing gum, hard candies, marshmallows and toffee.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
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