Jelly Candies (Gummies) Market by Product and Geography - Forecast and Analysis 2020-2024
- Published: Nov 2020
- Pages: 120
- SKU: IRTNTR45729
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The jelly candies (gummies) market size has the potential to grow by USD 490.22 million during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by product (sugar-based and sugar-free) and geography (Europe, North America, APAC, MEA, and South America). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including Arcor Group, AUGUST STORCK KG, Cloetta AB, Ferrero International SA, Grupo Bimbo SAB de CV, HARIBO GmbH & Co. KG, Mars Inc., Mondelez International Inc., Nestle SA, and The Hershey Co.
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Market Competitive Analysis
The market is fragmented. Arcor Group, AUGUST STORCK KG, and Cloetta AB are some of the major market participants. These vendors compete based on price, product differentiation, promotion, and quality. The growing competition among market vendors is declining profit margins and pose a significant risk to the vendors. Therefore, to survive and succeed in this competitive environment, it becomes imperative for the vendors in the market to differentiate their products. Although the availability of wide and diverse product ranges will offer immense growth opportunities, the growing popularity of substitute products will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this jelly candies (gummies) market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this jelly candies (gummies) market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of their future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- Arcor Group
- AUGUST STORCK KG
- Cloetta AB
- Ferrero International SA
- Grupo Bimbo SAB de CV
- HARIBO GmbH & Co. KG
- Mars Inc.
- Mondelez International Inc.
- Nestle SA
- The Hershey Co.
Jelly Candies (Gummies) Market: Segmentation by Geography
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APAC will offer several growth opportunities to market vendors during the forecast period. Factors such as the rising disposable income of consumers in highly populous nations such as India, Indonesia, Pakistan, Bangladesh, South Korea, and China and the growing number of various distribution channels such as convenience stores, independent stores, and online shopping web portals will significantly drive jelly candies (gummies) market growth in this region over the forecast period.
38% of the market’s growth will originate from APAC during the forecast period. China and Japan are the key markets for jelly candies (gummies) in APAC. Market growth in this region will be faster than the growth of the market in other regions.
Jelly Candies (Gummies) Market: Segmentation by Product
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The rising number of organized retailing outlets offering sugar-based gummies and the introduction of varieties of sugar-based, gelatin-free organic gummies are the major drivers that are estimated to impact the growth of this segment during the forecast period. Also, the demand for gelatin-free organic gummies has been increasing for the past few years, which is contributing to the market growth.
The jelly candies (gummies) market share growth by the sugar-based segment will be significant during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the jelly candies (gummies) market size.
Jelly Candies (Gummies) Market: Key Drivers and Trends
Consumers prefer choosing from a diverse range of packaged food items, especially confectionery products. Hence, to increase their sales, gummies manufacturers are offering a large number of products of various sizes and ranges. The presence of a diverse and broader range of products allow consumers to change their taste when necessary. Children are also attracted to different kinds of flavors, shapes, and packaging used in sugar confectionery. Thus, jelly candy companies are focusing on the innovation and development of products with various shapes, packaging, and flavors. For instance, Gummy Bears and Gold Bears offered by HARIBO have a distinct shape and taste, which makes them very popular among children. Affordability is also a significant point of focus for gummy companies, and they must offer innovative products at low prices to attract customers. Thus, the availability of broad and diverse product ranges is identified as a major factor driving jelly candies (gummies) market growth at a CAGR of about 1% during the forecast period.
Jelly Candies (Gummies) Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive jelly candies (gummies) market growth during the next five years
- Precise estimation of the jelly candies (gummies) market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the jelly candies (gummies) industry across Europe, North America, APAC, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of jelly candies (gummies) market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Growing demand for organic sugar-free jelly candies (gummies)
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