San Jose, CA (PRWEB) September 2, 2008
Candy, once considered a 'value' product, has attained the status of a staple snack across the world. Cultural and demographic factors play a critical role in influencing snacking patterns across various countries. In traditional markets such as United States and Europe, candy is considered an impulse item as well as a popular snack. On the other hand, macroeconomic factors and consumer incomes hold enormous significance in developing countries. The trend towards 'Westernization' is a major factor driving the popularity of chocolates and candies in these countries. China, Mexico, Indonesia and Eastern Europe are some of the markets expected to bustle with loads of activity. The appeal of candy as a low-cost luxury and comfort food is helping prop up sales even in the recession-stained economy and positions the market as the fastest growing impulse sector within the confectionery industry.
Product innovation holds the key to continued success in the marketplace. New products, exotic flavors, novel ingredients, organic/herbal fillings, are expected to boost candy sales across all consumer segments. In addition, attractive and innovative packaging, intense advertising, and effective distribution hold strategic significance in the candy market. Innovative packaging strategies, including use of attractive jars, bags and tubs, family-sized packs, and resealable packaging, are expected to lure customers and contribute to higher product sales. Children and women form the largest consumer base for candy. While kids continue to be a key segment, manufacturers are targeting adults through innovative products such as wine truffles, nicotine gums and caffeine flavored candies.
Rapidly expanding population of the elderly is expected to drive the demand for sugar free and medicated candy. The candy market is undergoing a radical shift from sugar-based to low-carb and diet products. Rising health consciousness among consumers has fostered sales of healthy and nutritional candy products across the world. For instance, demand for sugar-free candy is forecast to grow appreciably buoyed by shifting preferences of people towards healthier low carbohydrate diets in majority of the developed countries. The trend is expected to catch up rapidly in developing countries as well. With obesity becoming a major concern among people in general and children in particular, sugarless and organic candy is poised to gain significantly in the upcoming years. The trend is also expected to spur growth in the candied fruits/nuts market.
Manufacturers in this market are investing huge, never-before sums of money into product development and promotion. Also, the industry is channeling investment into research to develop newer confectionery mixes that are 'healthful' and delicious. Promotional expenditure is escalating due to heightened ad counts per year and growing number of distribution outlets per area. Advertisements are getting subliminal and are highlighting the positive, health-giving aspects of consuming confectionery, rather than promoting the product as a mere indulgence. Seasonality affects candy sales, particularly in mature markets such as United States, United Kingdom, and other Western countries. Easter, Christmas, Valentine's Day, Halloween, and Mother's Day, among others are considered as ideal occasions for candy purchase. However, seasonality holds limited significance in developing countries.
The report titled "Candy: A Global Outlook", published by Global Industry Analysts Inc, provides statistical anecdotes, market briefs, and concise summaries of research findings. The report offers a bird's eye view of trends shaping the candy industry, and enumerates recent developments, mergers, acquisitions, and other strategic industry activities. Major regional markets discussed in the report include United States, Canada, Mexico, UK, Norway, Hungary, Switzerland, China, India, and Indonesia, among others. The report also includes an indexed, easy-to-refer, fact-finder directory listing the addresses, and contact details of 739 companies worldwide.
For more details about this research report, please visit http://www.strategyr.com/Candy_Industry_Market_Report.asp
About Global Industry Analysts, Inc.:
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 700 people worldwide and publishes more than 880 full-scale research reports each year. Additionally, the company also offers a range of over 60,000 smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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