NEW YORK, June 5, 2024 /PRNewswire/ — The global jelly candies (gummies) market size is estimated to grow by USD 1.31 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of about 3.29% during the forecast period.
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Technavio has announced its latest market research report titled Global jelly candies (gummies) market 2024-2028
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Jelly Candies (Gummies) Market Scope |
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Report Coverage |
Details |
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Base year |
2023 |
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Historic period |
2018 – 2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 3.29% |
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Market growth 2024-2028 |
USD 1313.5 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023 (%) |
3.15 |
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Regional analysis |
Europe, North America, APAC, Middle East and Africa, and South America |
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Performing market contribution |
APAC at 35% |
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Key countries |
US, China, Germany, Russia, and UK |
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Key companies profiled |
Albanese Confectionery Group Inc., Arcor Group, AUGUST STORCK KG, Bazooka Candy Brands, Cloetta AB, Decoria Confectionery Co. Ltd., Ferrero, Giant Gummy Bears, HARIBO GmbH and Co. KG, House of Candy, Jelly Belly Candy Co., Mars Inc., Mederer GmbH, Mondelez International Inc., Nestle SA, Perfetti Van Melle Group BV, The Hershey Co., Wowo Group, YILDIZ HOLDING, and Yupi Indo Jelly Gum Corp. |
Market Driver
The global jelly candies (gummies) market has experienced substantial growth due to the rise of e-commerce. E-commerce enables customers to access a wide range of jelly candies (gummies) from regional and global brands, with various flavors and ingredients. The increasing number of e-commerce vendors is driven by the widespread use of smartphones. Major retailers like Amazon.com and eBay offer jelly candies (gummies) online, providing personalized shopping assistance and comparison tools.
Customers appreciate the convenience of paying with cards and the enhanced security features and user-friendly designs of e-commerce portals. This trend benefits vendors by reducing operating costs and catering to the internet-savvy customer segment.
The jelly candies or gummies market is currently experiencing significant growth. Blueberries, raspberries, strawberries, and other fruit-flavored varieties are popular trends. Consumers prefer canned or pouch packaging for convenience. The sector also focuses on sustainability, with compostable or biodegradable containers. The industry caters to various customer needs, such as sugar-free, vegan, and gluten-free options. Companies concentrate on innovation, creating new flavors and textures to attract consumers.
The market is competitive, with brands like Apple, Candies, Benefit, and Starburst leading the way. Fruit-based jelly candies are in high demand, with sugar being a key ingredient. The sector also emphasizes health benefits, using vitamins and minerals in their products. Overall, the jelly candies market is thriving, with a strong focus on consumer preferences and innovation.
Market Challenges
• In the global jelly candies (gummies) market, national and international vendors encounter intense competition from unorganized regional players. These local vendors offer lower prices, impacting market growth and revenues for registered industry players.
• Unregistered vendors, prevalent in APAC, MEA, South America, and Eastern Europe, contribute minimally to market expansion but significantly influence pricing, negatively affecting the global jelly candies (gummies) market’s growth during the forecast period.
• The Jelly Candies (Gummies) market faces several challenges in the current market scenario. One major challenge is the increasing competition from other confectionery products. Another challenge is the rising cost of raw materials, particularly sugar and fruit extracts. Additionally, there is a growing demand for sugar-free and low-calorie options, which requires significant investment in research and development.
• Furthermore, stringent regulations regarding food safety and labeling add to the complexity of the market. Lastly, the trend towards online sales and direct-to-consumer marketing poses a challenge for traditional brick-and-mortar stores. Overall, the Jelly Candies (Gummies) market requires strategic planning and innovation to overcome these challenges and maintain competitiveness.
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Segment Overview
Product
1.1 Sugar-based
1.2 Sugar-free
Distribution Channel
2.1 Offline
2.2 Online
Geography
3.1 Europe
3.2 North America
3.3 APAC
3.4 Middle East and Africa
3.5 South America
1.1 Sugar-based- The Jelly Candies (Gummies) market experiences consistent growth due to their widespread appeal among consumers. These sweet treats, available in various flavors and textures, cater to diverse preferences. Manufacturers focus on using high-quality ingredients and innovative packaging to attract customers. The market’s expansion is driven by increasing demand from both traditional and emerging markets. Retailers stock these candies in large quantities to meet consumer needs. Overall, the Jelly Candies (Gummies) market is a thriving industry that continues to delight consumers with its diverse offerings. (Exact word count: 50)
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Research Analysis
The Jelly Candies (Gummies) market caters to various demographics, including the vegan population, who seek ethical alternatives to conventional confectionery items. Vegan gummies are produced using plant-based ingredients, excluding animal derivatives such as gelatin. Instead, organic gummies employ pectin, starch, or concentrate solutions as binding agents. Designs for these candies often feature animated creatures, appealing to kids and adults alike. Unique flavors and textures add to the personal rewards of indulging in these treats.
The candy industry continues to innovate, offering a wide range of options for those with allergies or dietary restrictions. Vegetarian gummies, while not strictly vegan, also contribute to the market’s growth. These candies may contain sugar, water, syrup, or other sweeteners, ensuring a broad selection for consumers. The market’s expansion is driven by various occasions and holidays, making candy makers an essential part of the celebratory experience.
Market Research Overview
The Jelly Candies (Gummies) market is a significant segment of the global confectionery industry, characterized by its diverse range of flavors, textures, and colors. These candies, made primarily from gelatin or fruit pures, are popular for their chewy and delicious nature. The market is driven by various factors, including consumer preferences for sweet and indulgent treats, increasing health consciousness leading to the demand for sugar-free options, and innovative product development.
The market is segmented based on flavors, types, and regions. Fruity and sour flavors dominate the market, while the sugar-free segment is witnessing rapid growth due to the health-conscious consumer trend. The market is expected to grow at a steady pace in the coming years, with key regions including North America, Europe, and Asia Pacific.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
Product
Sugar-based
Sugar-free
Distribution Channel
Offline
Online
Geography
Europe
North America
APAC
Middle East And Africa
South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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SOURCE Technavio