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Chinese Market Poised For Growth, Driven By Non-Chocolate

October 28, 2013
by candyandsnacktoday

Basingstoke, UK — The Chinese candy market’s value is anticipated to grow 9.5 percent, compounded annually, to 2017, according to research specialist Canadean Ltd.

The researcher is projecting volume sales to have a compound annual growth rate of 6.3 percent during the coming five years. Canadean estimates non-chocolate segment value sales growth of 9.4 percent and volume gains of 9.2 percent through 2017. Currently, non-chocolate represents 73.1 percent of the market's value and 86.6 percent of the volume.

While chocolate only accounted for 6.6 percent of the Chinese candy market during 2012, the research anticipates segment growth of 10.1 percent for value and 7.4 percent for volume to 2017, both compounded annually. This projection is propelled by rising prosperity in the region and growing Chinese consumer interest in the segment.

Gum comprised 6.8 percent of the market’s total volume, making China the world's second largest market behind the U.S. for this segment, according to Canadean. Despite sluggish sales, the gum market is expected to have compound annual growth of 6.2 percent for volume and 9.5 percent for value during the next five years.

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