Candy Manufacturing Business- A Global Overview
Candy manufacturing is a global business that is worth billions of dollars worldwide. From chocolate bars to gummy bears, candy is a popular and beloved treat that comes in many different shapes and sizes. While candy making is an ancient practice, the modern industry is a highly advanced system that involves sophisticated technology and complex production processes. The global candy industry has seen an average annual growth rate of 4.5% over the past few years, with an estimated value of around $90 billion in 2020. The industry is expected to grow further over the coming years as confectionery continues to enjoy sustained popularity. In terms of geographical distribution, Europe is the largest market for candy, with a market share of around 40%. North America is the second-largest market, with a market share of around 30%. The rest of the world holds a market share of around 30%. In terms of production, the United States is the largest candy producer in the world, with an estimated