2023 Candy Market Trends
2023-03-27
With the upgrading of consumption, traditional food has become more and more healthful, and candy has also begun to upgrade towards health. Currently, the entire candy industry is trying to find new breakthroughs in functions, vegetarian nutrition, sugar reduction, and other creative ideas, which has also become the most critical part of the candy industry's innovation trend.
Functional sugar
In the candy category, functionality is a potential development direction. Although the market share of functional candies in the current market is small, their health benefits remain a significant growth point.
According to data from the China Commercial Industry Research Institute, the sales of functional candy in the domestic market has grown significantly, and it is expected that the functional sugar market will exceed 8.6 billion yuan in 2022. According to NBJ data, it only took four years (2014-2018) for the global sales of functional candy to double.
Among functional candies, soft candy is particularly popular. According to the consumption data of Tmall, in 2020, functional soft candy will become the fastest growing consumption dosage form of health products among young groups such as the post 90s and Gen Z. Currently, there are products on the market that supplement vitamins and minerals, DHA, yeast zinc, probiotics, melatonin, and collagen.
The introduction of functional candy is an extension of traditional candy brands to high-end product categories, and it is a high-level and multi-level demand for candy products from consumers.
sugarless candy
With the increasing demand for people's health, the trend of "low sugar, sugar free" has hit, and consumers have also made demands on candy products - not only for nutrition and health, but also for less sugar.
In the context of the global trend of reducing sugar, the daily demand for traditional candy is gradually decreasing. According to the Report on Deep Market Research and Investment Strategy Suggestions for the Candy Industry from 2019 to 2023, China's candy production in 2017 was 3.31 million tons, a decrease of 6.0% compared to 3.52 million tons in 2016; In 2018, China's candy production decreased to 2.88 million tons, with a year-on-year decrease of 13.0%, further increasing the decline.
To this end, many enterprises have launched sugar-free lollipops, such as Dr. Xu Fuji Xiong's sugar-free lollipops, Three Squirrels and Little Deers' Blue Blue Blue sugar-free lollipops, and Sugar Cube sugar-free lollipops. The development of sugar free candy is worth looking forward to.
Vegetarian candy
Plant-based claims are another important consumption trend in the candy market. According to data, from 2016 to 2020, the CAGR of candy products that claim to be vegetarian was 17%, while the CAGR of candy products that claim to be plant based more than doubled last year.
Candy manufacturers are removing raw materials such as dairy products, gelatin, and carmine to meet the growing demand for plant products that are not only considered healthier, but also more ethical and sustainable. For example, the low sugar vegetarian soft candy marketed by the Canadian candy brand Yummy Bear uses plant ingredients instead of gelatin.
In recent years, with the diversification of consumer health demands, a number of candy manufacturers have prioritized the development of new products that meet consumer needs, and a steady stream of innovative products has injected new vitality into the candy market. Taking the "health" train, the candy industry slowly moves forward.