2024 Candy Market Trends
With the upgrading of consumption, tra×₩₽≤ditional foods are increasinglyεα" associated with health attributesα¶±₹, and candies are also be≤↑↕ginning to upgrade towards a health§↔ier direction.
2024-11-21
With the upgrade of consumption, tΩ raditional foods are ↔¶increasingly associated with health att£♥ributes, and candies a≈Ω§re also beginning to upgrade towarφ≥ds a healthier direction. Currentlyλ , the entire candy industry is ©Ω↑trying to find new breakthroughs in c≥ reativity such as functionali&Ω βty, vegetarian nutrit≠β•ion, and reduced sugar,≥ which has become a key part of the i"<nnovation trend in the candy ∑∑✘§industry.
Functional candy
In the category of candies, functional₩<&ity is a very promisin§™±✘g development direction. Although ≈₹÷the market share of funct€₩←¶ional candies is currently small, the×∏ir health benefits remain an u→§ndeniable point of profi'ελ←t growth.
According to data from the China Bu₩₩siness Industry Resear •γch Institute, functional candies have s®✘hown significant growth in the domes✘εtic sales market, and it is expect∑±ed that the functional sugar ma≥♦ ™rket will exceed 8.6 billion yuanβε↔≈ by 2022. According to NBJ data, g&≠₩↔lobal sales of functional candies doublφ∏ed in just four years (2014-2018).φ€♠
Among functional cand<✘∞ ies, gummy candies are particularly ↓←ε&favored. Consumption♦ ← data from Tmall shows that ¶✘♦₩in 2020, functional gummy c₽andies became one of the fastes♦&t-growing health produ•←Ω↕ct forms among young groups such as p✘ost-90s and Generation✘→↓ Z. Currently, there are products on tφ€§he market such as vit¶"amin and mineral gumm↓φ ies, DHA gummies, yeast zinc gummieπ↔s, probiotic gummies, melatonin®Ω& gummies, collagen gumα$≠mies, etc.
The emergence of functional candies≤δ₹ represents an extension ofδ↔φ♠ traditional candy br™≥₹>ands into high-end p≈↓↔roduct categories and refl∞>≥αects consumers' higher-level and muδ∑✔lti-layered demands for c♥✘÷andy products.
Sugar-free candy
As people's health needs contφ↑inue to grow, the trend of 'lowβ÷ε sugar and no sugar' has emerg×♦↑≠ed. Therefore, consumers have also madeεφ demands for candy product>★s—not only should they be n≤Ωutritious and healthy but also contai₩§n less sugar.
Against the backdrop¶¶φ of reduced sugar becoming a glob¶$'al trend, the daily demand for traditiε$onal candies has gradually decrε×eased. The '2019-2023 Candy Industr→≤y In-depth Market Research and I ×÷nvestment Strategy RΩ¥£ecommendation Report' shows₽± that in 2017, China's candy ™≥production was 3.31 millio< ®↔n tons, down by 6.0% from 3.52 m♠→©↔illion tons in 2016; in 2018, Ch♣≈ina's candy production dropped to 2.88♠₩ ₩ million tons with a year-on-yeaβ∏Ωr decline rate reaching 13.0%, fu¶ε×$rther increasing its dec♠≠£€line.
In response to this trend, many comp®☆δanies have launched sugar-free lo£™☆≠llipops such as Xu Fu Ji's Dr. Beaγ€♣r Sugar-Free Lollipo≥≤σp, Three Squirrels' Little Deer Blue Sεφ↑¥ugar-Free Lollipop, and Tang&& Cube's Sugar-Free Lollipop. Th₩∑∏e development of sugar-frα<✔≈ee candies is worth looking for↔>'∏ward to.
Vegan candy
'Plant-based' advocacy is another impoφπγ✘rtant consumer trend in the candy'™ market. Data shows that f®™rom 2016 to 2020, vegan candy products€♥¶δ had a compound annual growth ratΩ≈e (CAGR) of 17%, while plant-bas₹♥ed candy products saw ∑δ≥±their CAGR more than β←double last year.
Candy manufacturers are removing ♣↑∏↕ingredients like dairy products±'γ, gelatin and cochineal red to mee±§t the growing demand f'€¶or plant-based products whic↕ h are not only seen as healthieδ↕<r but also more ethical and sustainaγ$ble. For example, Canadian caβ↕σndy brand Yumy Bear l♠★£©aunched low-sugar vegan gummy₩ bears using plant ingredients₩± instead of gelatin.
In recent years, with the£<®φ diversification of consumer healt ∞♥h demands, many candy manufacturers€±★π regard developing new product≠∑s that meet consumer needs as a top•© ¥ priority; continuous innovσπative products inject∞♥ new vitality into the canβ dy market. Riding on the↓σ™ 'health' train, the candy indust'Ω∏ry moves slowly forward€δ∏≠.
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