As per GMI Research’s latest analysis, Global Confectionery Market reveals that the market is slated to register a higher CAGR over the forecast period. This is mainly attributed to the strong demand for low sugar products, growing retail market, and rapid product innovation.
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Confectionery Market’s leading Manufacturers:
- Mars, Incorporated
- Ferrero International
- Nestle S.A.
- Mondelez International, Inc
- Meiji Holdings Co., Ltd.
- The Hershey Company
- Chocoladefabriken Lindt & Sprungli AG
- Ezaki Glico Co., Ltd.
- Haribo GmbH & Co. KG
- Lotte Confectionery Co. Ltd.
Confectionery Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)
Key Drivers
The global confectionery market is predicted to witness an upsurge in demand during the forecast period due to the strong demand for low sugar products, growing retail market, and rapid product innovation. In the era of increasing technologies, improved customer service is an important requirement of the business. Consumers’ expectations are growing continuously, whereas old retail methodologies are becoming outdated. The retail industry is a strong industry with extreme competition, where everyone is launching various innovative products, including the blend of solid and liquid flavors, odor sensations, and energy surging products. Thus, the retail players sell their products through different channels like online retail stores, supermarkets/hypermarkets, convenience stores, and others. Internet retailing is increasing popularity due to the ease of ordering products online in less time. Thereby, growing retail platforms are directly fuelling the sales of confectionery products. According to the confectionery industry analysis, the rising health awareness among the population, customers are drastically shifting towards low sugar products, which aids them in consuming less calories and does not affect the taste. Increasing health concerns have fundamentally shifted the emphasis of customers from one product to another, which will propel the growth of the confectionery market share in terms of revenue during the forecast period. On the other edge, the growing health concerns regarding obesity and diabetes will hinder the growth of the market.
Regional Drivers
Based on region, the Asia-Pacific is predicted to grow at a faster CAGR over the forecast period due to the high demand for products and the increasing popularity in emerging economies India, China, and others.
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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