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The Bangladesh candy market is expected to register a CAGR of 7.7% during the forecast period, 2018 to 2023. The candy market is witnessing a revolutionary change in ingredients owing to the customer's concern over high sugar content in the candies.
Inclusion of Ingredients with Functional Benefits Fuels the Candy Market in Bangladesh
The awareness among the Bangladeshi population, especially among the middle and affluent class MAC, about the food they consume is rapidly growing. Ingredients, such as cumin seeds, mint leaves, honey, cinnamon, and pineapple, that are used in traditional Ayurveda for the purposes, such as better digestion system, are beneficial for the consumers. This boosts up the sales in the Bangladesh candy market. The existence of many market players creates huge competition among them. The market is likely to follow a similar pricing strategy, with less deviation. This leads to increased operational and production costs on a long run. Hence, with the inverse proportionality of price and volume, the market does not record a high pricing power.
MAJOR PLAYERS: PERFETTI VAN MELLE, PRAN RFL GROUP and OLYMPIC INDUSTRIES LTD, amongst others.
Perfetti van melle, a global manufacturer of confectionery and gum, has a wide product portfolio. Mentos, Chupa chups and Alpenliebe are its global brands which constitute milk candies, mint candies and soft candies.
Rangpur Dairy Food Products Limited is a domestic player that manufactures milk candies. Nestle and Parle are other companies prevalent in the market.
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Analyzing outlook of the market with the recent trends and Porter's five forces analysis.
Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period.
Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and noneconomic aspects.
Countrylevel analysis, integrating the demand and supply forces that are influencing the growth of the market.
Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years.
Comprehensive company profiles, covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players.
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