Candies are one of the most preferred sugar confectionery products across the world. Caramels, gummies, hard boiled candy, chewing gum, sours, and lollipops are the different types of candies that are consumed all across the globe. Hard boiled candy is popular among all age groups. Hard boiled candy is available in different colors, flavors, shapes, and sizes in the market. The growing number of confectionaries are the main reason that is driving the market for hard boiled candy. The tween population is also having a great impact on hard boiled candy market. Product innovation and increasing the target consumer base are the main drivers that are anticipated to boost the market during the forecast period.
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Growing Number of Confectioneries Boosting Hard Boiled Candy Market
The demand for hard boiled candy is mainly driven by the growth of population, increasing disposable income, as well as the increasing consumer preferences and tastes for candies. Hard boiled candy is mainly prepared by sugar and can cause several health issues. Keeping consumer health in mind, manufacturers have started using artificial sweetening agents in their confectionery products. These artificial sweetening agents do not cause any harm and can be consumed by all. Hard boiled candy is available in numerous flavors such as chocolate, milk, herbs, fruits, and nuts. To attract kids, manufacturers of hard boiled candy have started using attractive packaging. The main target population for hard boiled candy is mostly children and youngsters.
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Global Hard Boiled Candy: Market Segmentation
Based on nature, the global hard boiled candy market has been segmented as-
Based on flavor, the global hard boiled candy market can be segmented as-
Based on sales channel, the global hard boiled candy market can be segmented as-
- Store-based Retailers
- Convenience Stores
- Specialty Stores
- Forecourt stores
- Online Retailers
- Store-based Retailers
Global Hard Boiled Candy Market: Key Players
The global hard boiled candy market is increasing because of continuous innovations in processing, packaging, and formulations. Moreover, expansion of the retail market and economic growth in emerging and advanced countries supplement the growth of the hard boiled candy landscape. Due to several health issues, manufacturers of hard boiled candy have started launching low calorie-products such as sugar-free hard boiled candy and others. Global key players of hard boiled candy include Lotte, Kafts (Mondelez), Mars, Surya Foods (Priyagold), DS Foods, Nestlé Nestle SA, Ferrara Candy Co., and DeMet’s Candy Co. among others. Due to the huge demand for confectionery products, manufacturers of hard boiled candy are focusing on the expansion of their manufacturing as well as regional footprints.
Opportunities for Market Participants
Competition between manufacturers in the global hard boiled candy market is comparatively strong, with the existence of a huge number of companies and a diverse range of product offerings. It is difficult for new players/entrants to enter this market because of the strong positioning of prominent companies. Increasing population as well as increasing per capita income are the key factors that are booming the market for confectionery products such as hard boiled candy and other products. Large MNCs (Multinational Companies) have a substantial benefit over medium-scale and small companies in terms of manufacturing and purchasing. Increasing product availability with variations for hard boiled candy is leading to very high demand that is fuelled by the spontaneous purchasing behavior of consumers. To cater to the demand, manufacturers of hard boiled candy are coming up with innovative flavors and tastes.
- Asia Pacific followed by North America are the leading regions in terms of sales of confectionery products. Children and the young population are the main target costumers for hard boiled candy. Several countries are focusing on media advertisements and campaigns for innovative hard boiled candy, which is directly influencing sales. Manufacturers are gradually launching new products with enhanced flavors to woo more consumers.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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