Growing Consumer Preference for Confectionery Products drives the Gummy Candy Market

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)

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

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:

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.