Turkish confectionery firms climbed up in the list of the world’s largest candy producers titled “Global Top 100” year-on-year in 2016, the US-based Candy Industry magazine said last week.
Yıldız Holding, Şölen Çikolata and the Elvan Group made it into the top 100 candy manufacturers determined by net sales revenue.
Turkey’s food giant Yıldız Holding rose three places to take the 12th spot after increasing its net sales revenue from $2 billion in 2014 to $2.1 billion in 2015.
While the Gaziantep-based Şölen Çikolata moved up from 50th place to 48th, with its sales revenue increasing from $360 million to $370 million, the Elvan Group boosted its revenue from $220 million to $250 million and moved up to 65th place, up from 71st place in 2015.
“We first entered the list in 2012. Now we are planning to reach a sales target of $1 billion after finalizing negotiations for the acquisition of new brands that we have been conducting in Europe and to make it into the top 20 by the year 2023,” Hidayet Kadiroğlu, the chairman of the Elvan Group, told Turkish media on Monday.
The company recorded an increase in sales after featuring popular film and game characters, including Angry Birds, Minions, Batman and Superman in its promotion campaigns, Kadiroğlu said.
Candy Industry ranks global confectionery companies by sales revenue each year. The US-based Mars Inc. topped the list in 2016, even though its revenue dropped in 2015 when compared to the preceding year.
While Mondelez International also retained its standing in second place, Nestle surpassed the Ferrero Group to rise to third. The Swiss company was ranked fourth last year.