Confectionery Market:
Growth opportunities in the Confectionery Market look promising over the next six years. This is mainly due to the continuous product innovation, amplification of retail market and growing health awareness.
Confectionery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
Some of the prominent drivers responsible for the growth of the global confectionery market include the augmentation of the retail sector, surging demand for low sugar products, and ongoing transformation of products. Also, in the environment of technology enlargement, better consumer services account to be an important requirement of a business. Moreover, with the changing expectation of consumers, old retail methodologies have become outworn. Leading market players in the mature retail industry are continuously involved in the innovation of innovative products such as the composition of liquid and solid flavors, energy boost, and odor sensation products. Therefore, the retail channels supply their products through different stores, including online retail stores, supermarkets/hypermarkets, and convenience stores. Amongst which, internet retailing is alluring more individuals owing to the ease of ordering products in less time. This implies that expanding retail platforms are directly fuelling the market sales, thereby promoting market growth. Additionally, the increasing health consciousness among consumers has shifted them towards low sugar products to consume fewer calories without compromising taste. The intensified apprehension towards health issues has led to the varying focus from one product to another, boosting the entire market revenue. However, the escalating incidences of obesity and diabetes will constrain market growth.
Product Type Segment Drivers
On the basis of product type, the market is segmented into chocolate confectionery, snack bar, and sugar confectionery. Among these, the snack bar segment is projected to expand at a faster CAGR during the forecast period. This is primarily attributed to the growing health agitation coupled with the inclination towards healthy and nutritious food, propelling the demand for cereal, snacks, and other nutritional bars. Moreover, these bars are low in sugar and offer an amplified munching experience to customers, which will further allure enormous consumers to opt for these products.
Regional Drivers
Based on the regional coverage, Asia-Pacific is expected to grow at a higher CAGR during the forecast period. This is owing to the bolstering demand for these products accompanied by the rising population in emerging countries such as China and India.
Confectionery Market’s leading Manufacturers:
- Lotte Confectionery Co. Ltd.
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International, Inc
- Ferrero International
- Haribo GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd
- Nestle S.A.
- Mars, Incorporated
Confectionery Market Segmentation:
Segmentation by Type
- Chocolate Confectionary
- Dark Chocolate
- White and Milk Chocolate
- Sugar Confectionery
- Boiled Sweets
- Toffees, Caramels and Nougat
- Pastilles, Gums, Jellies and Chews
- Mints
- Others
- Snack Bar
- Cereal Bars
- Energy Bars
- Others
Segmentation by Distribution Channel
- Supermarket/Hypermarket
- Specialist Retailers
- Online Retail Stores
- Convenience Stores
- Other Distribution Channels
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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