Development trend of the global soft candy market

Development trend of the global soft candy market

1. Market size growth

According to market research, the global soft candy market size will reach RMB 148.428 billion in 2023 and is expected to reach RMB 329.016 billion by 2029, with an average annual compound growth rate of 13.95% during the forecast period.

2. Product segmentation and innovation

The soft candy market is moving towards more segmentation and innovation. Soft candy products can be further segmented into multivitamin soft candies and single vitamin soft candies. At the same time, more and more functional soft candies are appearing on the market, such as hangover soft candies and emotional health soft candies. These products usually contain plant-based ingredients and vitamins.

3. Health and functional trends

Globally, functional soft candies are growing rapidly, especially among the post-90s and Generation Z young groups, where the market demand for functional soft candies is increasing. The global functional soft candy market size is approximately US$1.386 billion in 2023 and is expected to reach US$2.577 billion in 2030, with a compound annual growth rate (CAGR) of 9.3% during 2024-2030.

4. Regional differences and growth potential

The global functional soft candy market shows certain regional differences. North America and Europe are the main consumer markets, while Asia, especially emerging markets such as China and India, are growing rapidly and have huge development potential.

5. Changes in consumer preferences

Consumers' preference for delicious snacks and the demand for convenient and portable snacks are growing, and the diversity of flavors, shapes and formulas of gummy candies attracts different groups of people.

6. The rise of organic and sugar-free gummies

Gummy candies with organic and sugar-free labels cater to consumers who are willing to pay a premium for healthier, more personalized candy options.

7. Market competition and major players

The global functional soft candy market is highly competitive, with a large number of manufacturers and a dispersed market share. Some internationally renowned brands such as SCN BestCo, Church & Dwight (CHD) and Amapharm have dominated the market with their strong brand influence and product innovation capabilities.

In summary, the global soft candy market is developing in the direction of product diversification, health and functionality, while the market size continues to expand, especially in emerging markets.