Asia Pacific Candy Market

Asia Pacific Candy Market was worth USD 14.68 billion in 2021 and estimated to be growing at a CAGR of 4.5%, to reach USD 18.29 billion by 2026. Candies are a type of confectionary food which has sugar has chief ingredient.

Candies, also referred as sweets or lollies, are a confection that feature sugar as a primary ingredient. The category called sugar confectionary, encompasses any sweet confection including chocolate, chewing gum, and sugar candy. Vegetables, fruits or nuts which have been glazed and coated with sugar are said to be candied. Unlike sweet pastries served for a dessert course at the end of a meal, candies are normally eaten casually, often with the fingers, as a snack between meals

Primary factors accounted for driving the market are increasing disposable income, introduction of various flavours attracting all categories of consumers and product innovation creating sugar free as well as no artificial flavour additive variants. However, stringent government regulations and health concerns regarding excessive candy consumption are the factors hindering the growth of market.

The Asia Pacific market for Candy is segmented based on Type and Distribution Channel. Based on Type it is divided into Chocolate Candy and Non Chocolate Candy. Non Chocolate Candy is further segmented as Hard Rolled Candies, Breath Sweeteners, Caramels, Gummies and Others. Based on Distribution Channel it is divided into Supermarkets, Convenience Stores, Grocery Stores, Online and Others. Based on geographical analysis, the market is divided into regions of China, India, Japan, South Korea and Australia. China holds the major share in the market due to presence of market leaders as well as a large population of candy consuming individuals. India is the fastest growing region due to increasing demand and product innovation and increasing disposable income. Hard rolled Candies and Chocolate candies hold the major share in the market while gummies and caramels are expected to grow the fastest due to shift of consumers towards soft and fruit flavoured candies. Based on Distribution channel supermarkets hold the major share in the market due to easy accessibility of consumers while online retails are expected to grow the fastest.

Some of the key players dominating this market include Arcor, August Storck KG, Yildiz Holding, Cemoi, Chocoladefabriken Lindt & Sprungli AG, United Confectionary Manufacturers, Crown Confectionary Co. Ltd., DeMet’s Candy Co., Ezaki Glico Co. Ltd., Ferrero Group, Lotte Confectionary, Mars Inc., Hersheys Co. and General Mills.