Fun and Exciting Trends and Statistics for Candy in 2020
The confectionary market is one that’s always exciting and fun, with new flavors and ideas emerging around the globe as tastes change and evolve. Demand is always high for innovative and fun new flavors and varieties of candy, especially during the holidays, with Easter, Valentines Day, Halloween and Christmas being big money makers in the United States.
When it comes to chocolate, it will be no surprise to anyone that several European “gourmet” chocolate companies have dominated the market over the course of the last five years, with some of the leading companies including Ferrero of Italy, Lindt of Switzerland, and Nestle, also based in Switzerland. However, some Asian chocolate companies have been dominating the market, the main two being Delfi Limited of Singapore and Lotte COnfectionery Co of South Korea. Hersey’s of the United States continues to see good numbers, as do Cadbury (UK and Australia), but Europe and South Asia combined to contribute over half of the share to global confectionery market revenues in the last few years. This is projected to continue over the next several years, with dark chocolate specifically touted to show a large increase (at least 4%) over the next few years.
Confectionary industry statistics show that filled chocolates are continuing to rise in popularity, with Italy showing a 48% increase in the number of filled chocolates they were manufacturing as of last year. For Asian and African countries, jam and jellie candies and products were at a high, with China showing a 86% increase and totalling over $26 million dollars in revenue.
Candy trends continue to change rapidly, with many popular brands in the United States, the UK and elsewhere unveiling innovative new seasonal and holiday-based products every few months. Popular chocolate brand Reeses unveiled a number of new peanut butter cup products, including “Peanut Butter Lovers” and “Chocolate Lovers” cups, as well as peanut butter cup items filled with Reeses Pieces, and more. Hershey Company has been unveiling seasonal and summer-flavor items for their popular brands, including Kit Kat and Twizzlers (a non-chocolate licorice candy) over the past couple of years, including Apple Pie, Strawberry Cream and Lemon Kit Kats (drawing on the popularity of flavored Kit Kats in Japan), and Rainbow, Orange Cream and Apple flavored Twizzlers. They are also unveiling a line of flavored Cookies & Creme bars, after the popularity of their “Hershey’s Gold” bar a couple of years ago.
Candy trends continue to change as customers’ tastes and demand change, but certain trends will always stay the same, especially for those countries that deal in “gourmet” and dark chocolate and other mainstays in the confectionery industry. Certain confectionery insiders have warned that Easter Candy for the upcoming 2021 season may take a hit, as many candy manufacturers and distributors have been forced to close their doors during the coronavirus. Going forward, many candy companies will likely find creative ways to meet supply and demand, as those candy enthusiasts stuck at home are likely ordering more and more confections to sweeten their day.