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Sour Candy Market Overview:
Sour Candy Market size is estimated to reach $2.7 billion by 2030, growing at a CAGR of 7.3% during the forecast period 2023-2030. Increasing demand for unique and exotic flavors of sour candies and new product innovations with attractive shapes and colors are propelling the sour candy market growth.
Additionally, introducing sugar free sour candies which are designed to reduce risk of diabetes and obesity are creating substantial growth opportunities for the Sour Candy Market. In April 2022, Mondelez International announced that it had reached a deal with Grupo Bimbo's candy company, Ricolino for about USD 1.3 billion. Simultaneously, In March 2022, HARIBO unveiled a lineup of Easter treats and claimed that it is sure to please any fan of gummy candy and announced that it was bringing back previous favorites along with debuting two new products. These factors positively influence the Sour Candy industry outlook during the forecast period.
Market Snapshot:
Sour Candy Market - Report Coverage:
The “Sour Candy Market Report - Forecast (2023-2030)” by IndustryARC, covers an in-depth analysis of the following segments in the Sour Candy Market.
Key Takeaways:
● Fastest growth of Asia Pacific region
Geographically, in the global Sour candy market share, Asia Pacific is analyzed to grow with the highest CAGR of 7.9% during the forecast period 2023-2030. here has been a shift in consumer preferences towards novel and unique taste experiences. Sour candies offer a tangy and intense flavor profile that appeals to consumers looking for variety and excitement in their snacks. The influence of Western culture through media, entertainment, and international brands has introduced and popularized the concept of sour candies in Asian markets as well. The problems impeding market expansion however include strict government controls on health over excessive sugar consumption. However, the above factors combined with the introduction of sugar free candies with numerous exotic flavors and colors that attract all consumers especially kids and pregnant women are driving the Sour Candy Market in Asia Pacific region.
● The Hard candy segment dominates the sour candy market.
In the Sour Candy Market analysis, the Hard candy segment is estimated to grow with the highest CAGR of 8.3% during the forecast period. Ferrera introduced Laffy Taffy Fruit Combos which brings new flavor pairings to the brand’s classic mini bar format. In January 2023, Jolly rancher announced its collaboration with Hershey company introducing cherry flavor clinically dosed pre-workout candies which offer intense energy, endurance, and focus necessary for big training routines.
● Introducing new products with attractive designs and colours drives the market
To draw consumers interests especially kids, companies are producing more and more items with unique and exotic flavors like raw mango, tamarind, and strawberry, among others. In March 2022, Jelly Belly Candy Co. initiated a new take on its classic jellybean flavors with Jelly Belly Belly Buttons. The bite-size, button-shape chewy candies come in popular flavors like cherry, grape, green apple and blueberry. This propels the market growth.
● Changing consumer preferences to unique tastes driving the market
Consumers are increasingly seeking unique and novel taste experiences, and sour candies offer a tangy and intense flavour profile that appeals to many. The demand for adventurous and exciting taste sensations drives the popularity of sour candies. In July 2023, Dharampal Satyapal Group, a multi-business corporation and FMCG conglomerate, launched a digital campaign called Pulse Tangy Tails Campaign for its tangy-flavoured Pulse candy.
● The high amount of sugar and acidic nature of candies hinders the market growth
Frequent candy intake is bad for tooth decay because of its high pH level and high sugar content. Candy is closely linked to diabetes and obesity since it includes a lot of sugar. They are tasty, colourful, and entertaining, but sour candies have a lot of acid in them. Acid can be highly harmful because it wears away the enamel of teeth. This factor impedes the Sour Candy Market growth.
Sour Candy Market Share (%) By Region, 2022
Key Market Players:
Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Sour Candy Market. The top 10 companies in this industry are listed below:
Wm. Wrigley Jr. Company
Mondelez International, Inc. (Sour Patch Kids)
Jelly Belly Candy Company
Ferrara Candy Company (Laffy Taffy, SweeTARTS, Funables)
Taffy Town, Inc. (Sour Taffy)
The Hershey Company ( Jolly Rancher Gummies Sours)
Haribo (Sour Goldbears)
The Topps Company, Inc. (Baby Bottle Pops)
Tootsie Roll Industries, Inc.(Concord Confections Candy)
Albanese Confectionery Group, Inc. (Sour Flavor Gummi Bears)
Sour Candy Market is projected to grow at 7.3% CAGR during the forecast period 2023-2030.
Sour Candy Market size is estimated to be $1.7 billion in 2023 and is projected to reach $2.7 billion by 2030.
Top Companies in the Sour Candy Market are Wm. Wrigley Jr. Company, Mondelez International, Inc., Jelly Belly Candy Company, Ferrara Candy Company and others.
Introducing new candies by combination of different flavours with different brands and new shapes, colors are some of the major Sour Candy Market trends in the industry which will create growth opportunities for the market during the forecast period.
Attractive shapes and colours of the candies rather than before ordinary type are the driving factors of the market. Sugar free Sour candies with new innovations and brand collaborations are the growth opportunities for the Sour candy Market.