Candy Market to Register Highest CAGR Growth of 3.94% by 2029

July 11, 2023

Market Analysis and Size

Candy are confectionary products and the sugar is the primary ingredient. While the leading target audience for candies is the children and young population. It is enjoyed by people of all age groups overall the globe. Increasing modernization, westernization, and growing personal disposable income are the main factors which is fostering the growth of candy market. Ever-rising young population and growing popularity of dark chocolate are some other indirect factors for the growth of the candy market growth.

Data Bridge Market Research analyses that the candy market was valued at USD 226.38 billion in 2021 and is expected to reach USD 308.39 billion by 2029, registering a CAGR of 3.94% during the forecast period of 2022 to 2029. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and technological advancements.

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Market Definition

Candy is also called confectionery sweet food product. The main ingredient of the candy e is sugar. Candies are made with a combination of chocolate, milk, nuts, fruits, and artificial sweeteners and it comes in the shape of small pieces, drops and bars. There are certain candies with minerals and vitamins which provide protein value that can help in bodybuilding. Consumers who have a hectic schedule commonly opt for candies as a small snack it requires less time for consumption and can be enjoyed during breaks

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https://www.databridgemarketresearch.com/reports/global-candy-market

COVID-19 Impact on Candy Market

The outbreak of COVID-19 has adversely impacted on the confectionery market. The stringent rules and lockdown during pandemic have led to consequences in the confectionery business that caused differential impact on the supply of the raw material such as agricultural produce, intermediate food products, food ingredients, and trade & logistics, uncertain consumer demand, demand-supply volatility, and affected the workforce at industrial level. One of the main factors which affected the confectionery industry during epidemic was decline in sales decline as a result of decrease gifting and impulse buying among customers across the world. But the online shopping increased the demand of the candies during coronavirus.

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