Gummy Candy Market Overview
Product Overview and Scope of Gummy Candy
The global gummy candy market has experienced steady growth. Gummy candies, noted for their chewy and tasty qualities, have become a popular treat among people of all ages. Several factors fueled the market, including rising demand for quick and portable snacks, rising disposable income, and a growing preference for confectionery goods. Furthermore, the popularity of gummy candies spread outside traditional markets, with makers experimenting with new flavors, forms, and packaging to attract new demographics and maintain existing customers. For instance, according to National Confectioners Association (NCA) in 2022, the non-chocolate candy currently represents around 32% of all US confectionery sales.
Gummy candies come in a variety of flavors, shapes, and sizes. Traditional fruit flavors such as cherry, orange, strawberry, and lemon remained popular, while new and exotic flavors such as watermelon, mango, passion fruit, and even savory options such as sour gummies gained popularity among experimental consumers. Manufacturers concentrated on creating innovative and intriguing flavor combinations to keep their products attractive and differentiate themselves from other companies. For instance, in 2021, Nestle launched new gelatin free gummies Dessert Pastilles with four new flavors which are gelatin-free and are purely vegetarian.
Global Gummy Candy Market –Industry Analysis
Market Drivers
- Growing Consumer Preference for Confectionery Products
The rising consumer demand for confectionery goods is driving the global gummy candy market. As the confectionary market grows in popularity around the world, gummy candies are growing as a prominent player in satisfying customers sweets requirements. Gummy candies popularity comes from its delectable taste, chewy texture, and numerous flavor possibilities, which attracts individuals of all ages. For instance, according to the national library of medicine, 12.6% of children of 2 years of age consumes candy without containing chocolate whereas individuals of 2-18 years of age and adults above 19 years of age consume around 21.3% and 9.8% of non-chocolate candy per year respectively. The global population's increased demand for confectionary goods is driving the gummies business. Confectionery items are increasingly attracting to fast-paced consumers since they are tempting and take little time to consume. According to BENEO research done in September 2020, customers shifted to confectionery products to help brighten their day during the pandemic, with approximately 62% of people eating chocolate or sweets at least three times a week or more.
- Increased Demand for Sugar-Free Candies and Innovative Packaging
- Rising demand for plant based organic products
Global Gummy Candy Revenue by Region (2018-2023)
Global Gummy Candy Revenue and Market Share (%) by Region (2018-2023)
Global Gummy Candy Revenue (USD Billion) by Region (2018-2023)
|
2018 |
2019 |
2020 |
2021 |
2022 |
2023 |
|
|
North America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Europe |
XX |
XX |
XX |
XX |
XX |
XX |
|
Asia-Pacific |
XX |
XX |
XX |
XX |
XX |
XX |
|
Latin America |
XX |
XX |
XX |
XX |
XX |
XX |
|
Middle East & Africa |
XX |
XX |
XX |
XX |
XX |
XX |
|
Total |
XX |
XX |
XX |
XX |
19.68 |
XX |
Global Gummy Candy market was valued at USD 19.68 Billion in 2022 and is expected to grow at a CAGR of 4.03% over the forecast period from 2023 to 2030.
Global Gummy Candy Market Segmentation Analysis
Global Gummy Candy Market Segmentation Analysis by Category
- Functional/Nutraceutical Gummies
- Others
| Global Gummy Candy Market, by Category |
|
|
|
Source: Cognitive Market Research |
Based on category, the functional/nutraceutical gummies segment dominated the global gummy candy market throughout the forecast period. Functional gummies include minerals, fibers, probiotics, proteins, collagen botanicals, and other nutrients. Functional gummies increase immunity, owing to the presence of vitamin C, probiotics, and Zinc, prevent stress and anxiety, and improve women's health. Functional gummies are popular for consumption in emerging countries. Functional gummies account for a significant share of XX% of the market, owing to an increase in consumption of functional or nutraceutical gummies across the globe. Functional gummies have high demand in China.
Global Gummy Candy Market by End-User:
- Children
- Adults
- Others
Global Gummy Candy Market by Distribution Channel:
- Supermarket/Hypermarket
- Departmental Store
- Online
- Others
Global Gummy Candy Market Players
- Haribo
- Albanese Candy
- The Hershey Co.
- Swedish Fish
- Hi Chew
- Sunkist Growers Inc
- Ferrara Candy Company
- Nestle SA
- Arcor Group
- Mondelez International
- Others
Global Gummy Candy Market Related Reports
- Global Gummy Vitamins Market
- Global Vegan Gummy Candy Market
- Global Functional Gummies Market
Global Gummy Candy Manufacturers Profiles/Analysis
HARIBO
HARIBO Basic Information, Manufacturing Base, Sales Area, and Competitors
|
Sr. No. |
Item |
Description |
|
1 |
Company Name |
HARIBO |
|
2 |
Website |
www.haribo.com |
|
3 |
Established Date |
1920 |
|
4 |
Headquartered |
Germany |
|
5 |
Market Position/ History |
HARIBO was founded in December 1920, when it launched its sweets production in a small kitchen. Further, in 1922, the company introduced its first fruit bear gummy candy. In 1986, HARIBO acquired Edmund Munster GmbH & Co. KG, which is now based in Neuss. In 1996, the company acquired Belgian sweets company Dulcia, which was a producer of marshmallow products Soft-Kiss. From 2018, the employees of the company started their work in Grafschaft, the new headquarters of international HARIBO Group and HARIBO Germany. |
|
6 |
Sales Area |
Worldwide |
|
7 |
Manufacturing Location |
16 production sites in 10 countries worldwide |
|
8 |
No. of Employees |
~7,000 |
|
9 |
Competitors |
Mars Inc. Ferrero Group Mondelez International Meiji Co. Nestle SA |
|
10 |
CEO |
Hans-Guido Riegel |
|
11 |
Ownership Type |
Private |
|
12 |
Contact Information |
1 Dr. -hans-und-paul-riegel-strasse, Grafschaft, 53501, Germany Tel: +49 2285370 |
Business Segment/ Overview:
HARIBO is a confectionery company engaged into manufacturing of fruit gummies and liquorice. The company offers a wide range of gummy candy products which are available in more than 120 countries worldwide. HARIBO has its own production sites at 16 locations in ten countries across the globe.
Recent Developments:
|
Year |
Latest News |
|
November 2022 |
HARIBO Introduced New Gummi Innovation; Berry Clouds In November 2022, HARIBO, a gummy candy brand introduced its new gummi candy innovation "Berry Clouds" on National Candy Day. Berry Clouds are a different and unique triple-layered gummies having a a soft and sweet chew. These Berry Clouds come are available in dreamy cloud shapes which highlight their irresistibly fluffy and soft texture. Thus, this helped HARIBO to cater to the customer requirement of texture and flavor. Thus, this new innovation assisted the company to add to its consumer base and also gain a competitive edge in the market by offering such innovative gummy candies. |
Business Strategy
HARIBO has a significant focus on local and international expansion of its business. For instance, the company has already acquired several local companies namely g Kleutgen & Meier, and Edmund Munster GmbH & Co. KG, producers of chewy sweet novelty in fruit flavors which complemented HARIBO's product range.
