What is Global Licorice Candy Market?
The Global Licorice Candy Market is a comprehensive study of the current trends, market size, market share, and growth prospects of the licorice candy industry worldwide. Licorice candy, a sweet treat made from the extract of the licorice plant, has been a favorite among consumers for generations. The market encompasses a wide range of products, from traditional black licorice to fruit-flavored varieties, and even gourmet options. The global licorice candy market is a dynamic and competitive space, with numerous players vying for a share of the market. The market's value stood at US$ 1567.7 million in 2022, and it is projected to reach US$ 2155.8 million by 2029, growing at a compound annual growth rate (CAGR) of 4.6% from 2023 to 2029.
Original Black Licorice, Fruit Flavored Candy in the Global Licorice Candy Market:
Delving deeper into the market, we find that the licorice candy market is segmented into two main product types: Original Black Licorice and Fruit Flavored Candy. Original Black Licorice is the traditional form of licorice candy, known for its distinctive flavor derived from the licorice root. On the other hand, Fruit Flavored Candy is a more modern take on licorice candy, offering a variety of flavors such as strawberry, apple, and cherry. These different product types cater to a diverse range of consumer tastes and preferences. In terms of market share, Twizzzlers, a brand known for its fruit-flavored licorice candy, held the top spot in 2019, accounting for 20.64% of the global market. Other notable players include Red Vines and Wiley Wallaby, which held 4.39% and 3.65% of the market share respectively.
Supermarket, Online Sales, Convenient Store in the Global Licorice Candy Market:
The Global Licorice Candy Market is not just limited to traditional retail outlets. It extends to various sales channels including Supermarkets, Online Sales, and Convenient Stores. Supermarkets have been a traditional stronghold for licorice candy sales, offering a wide variety of brands and flavors for consumers to choose from. However, with the advent of the digital age, online sales have surged, providing a convenient platform for consumers to purchase their favorite licorice candy from the comfort of their homes. Convenient stores, on the other hand, offer the advantage of easy accessibility, especially for consumers looking for a quick sweet treat on the go.
Global Licorice Candy Market Outlook:
In terms of geographical distribution, Europe emerged as the largest consumer of licorice candy, accounting for 52.79% of the global consumption in 2019. North America followed closely behind, with a total licorice candy consumption accounting for 34.06% of the global market. These figures highlight the popularity of licorice candy in these regions and the potential for market growth in the coming years.
| Report Metric | Details |
| Report Name | Licorice Candy Market |
| Accounted market size in 2022 | US$ 1567.7 in million |
| Forecasted market size in 2029 | US$ 2155.8 million |
| CAGR | 4.6% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Consumption by Region |
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| By Company | Twizzzlers, Red Vines, Wiley Wallaby, Venco, Good & Plenty, Halva, Klene, RJ’S, Kraepelien & Holm, Kenny’s Candy, Switzer’s Authentic Candy, Mrs. Call’s Candy, Gimbals Fine Candies, Kookaburra Liquorice |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
