The Development of the Candy Industry in Recent Years

Release time:

2023-04-27 09:58

The candy industry, as one of the two traditional pillar snack industries in China, maintains rapid growth and potential market share continues to expand. In the past five years, China's candy market has maintained an annual growth rate of 8% -12%. In 2011, the scale of China's candy industry has reached 62 billion yuan.
At the time of the development and expansion of the domestic candy industry, various types of candy in the world, such as health care, low sugar, fun and ecotype candy, have the tendency to accelerate the pace of collective attack on China's candy market. In contrast, the products in China's candy market appear very single, and under the dual pressure of foreign enterprises pressing and domestic enterprises fiercely competing, there are many obstacles to product development in China's candy industry.
The competition among domestic candy companies mainly stays at the price level, and the development of new fields is clearly insufficient compared to foreign investment. The phenomenon of product homogenization seriously hinders the competition between domestic candy companies and foreign brands, making their profits far inferior to foreign brands. The main battlefield of domestic brands has also been forced to sink into the second and third tier markets.
It is worth noting that the global per capita consumption of candies is about 3 kilograms, while in China, it is only 0.7 kilograms. Therefore, China's candy market has enormous development potential. The breakthrough of domestic enterprises should focus on product updates and upgrades, constantly introducing new products and enriching product varieties. The candy industry in China is facing a demand pattern of small products and large markets, and candy production enterprises are in a stage of structural adjustment, product updates, survival of the fittest, and enterprise restructuring. With the completion of the transition from product competition to marketing in the market operation of candy foods, the candy industry has entered an era of brand competition.