Jellies & Gummies Market is Booming globally with Marginal Growth
Posted by Mrudula Karmarkar on January 4th, 2022
The global jellies & gummies market size is expected to reach USD 17.7 billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.5% over the forecast period. The market growth is attributed to growing vegan population, booming candy industry, rising awareness regarding the side effects of chocolate consumption, and increasing consumer spending. Jellies and gummies have been gaining an increasing traction among the consumers on account of their frequent purchases and growing consumption of candies over chocolate.
Factors impacting the purchase decisions of consumers include unique flavors, textures, candies design, shape, packaging, and sugar content. Snacking, personal rewards, on-the-go, occasions, and holidays are the major consumption reasons of the jellies and gummies. Widening consumer base, growing trend of gifting candy items, and product innovations to fulfill changing consumer tastes and dietary habits are further driving the demand for jellies and gummies.
The most common types of jellies and gummies have a high percentage of sugar, water, glucose syrup, and gelatin. High sugar content poses biggest challenges, which raises health concerns among health conscious consumers and consumers with diabetic conditions. Growing prevalence of lifestyle diseases, such as diabetes and obesity, is driving consumers to shift to healthier eating habits, which may act as a restrain to the market growth as it restricts consumption of jellies and gummies.
By flavor, the market is segmented as grapefruit, cherry, peach, berries, apple, and others. Berries accounted for the largest share of 27.3% in 2018. Consumption of berries has increased owing to growing health consciousness among consumers and high antioxidant levels in the product. Flavor of the candies is driving consumers’ preferences for jellies and gummies. Jellies and gummies are prepared from exotic fruits, vegetables, liquor, and other sources, which is attracting a large number of consumers. Moreover, high amount of vitamins, proteins, and fiber makes it a good source of energy, which increases the product consumption among consumers. This, in turn, is increasing the demand for jellies and gummies in the food industry.
Cherry is expected to exhibit the fastest CAGR of 3.8% over the forecast period. This growth is attributed to increasing product modifications in terms of designs, styles, and look. Cherry is expected to witness significant growth in the forecast period owing to intensity of the flavor. Cherry is mixed with other fruits in order to enhance the flavor intensity. Considering the increasing number of vegan consumers in the world, leading manufacturers in the market are replacing animal collagen with fruit-based proteins and gelling agents in jellies and gummies. Due to increasing demand for vegetarian jellies and gummies, use of fruit based ingredients is likely to witness an upsurge in the upcoming years.
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By distribution channel, the market is segmented into store based and non-store based. Store based distribution channel accounted for the largest share of more than 85.0% in 2018. Developed countries have high density of grocery stores, where the products are easily available as a part of the marketing strategy. Increasing shelf space for jellies and gummies owing to the preservatives and gelling agents, increased life span of the product, and no storage restriction are the major factors driving the brick and mortar stores. Increasing number of organized retailing outlets like hypermarkets, supermarkets, convenience food product-based retailing outlets, and food specialist stores is expected to boost the segment growth.
Further key findings from the report suggest:
Some of the key players operating in the global market are Haribo; Cloetta; Ferrara Candy; Nestlé; and Mondelez International, Inc. The market players are offering bite-size pieces of low-fat candies to improve sales among health conscious consumers across the globe. Increasing focus of consumers on health not only fostered a paradigm shift in the ingredients, but also in the packaging size. Key players have started adopting new packaging strategies with packs such as calorie packs or flexible packs. The small size of candies, along with reduced calories, is gaining traction among consumers.
Grand View Research has segmented the global jellies and gummies market on the basis of flavor, distribution channel:
Jellies & Gummies Flavor Outlook (Revenue, USD Million, 2015 - 2025)
Jellies & Gummies Distribution Channel Outlook (Revenue, USD Million, 2015 - 2025)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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About the AuthorMrudula Karmarkar
Joined: March 30th, 2020
Articles Posted: 498
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