The GMI Research forecasts that the India confectionery market is witnessing an upsurge in demand over the forecast period. This is mainly due to the rising demand for low sugar products and the rapid increase in the retail industry nationwide.
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India Confectionery Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The rising demand for low sugar products and the rapid increase in the retail industry nationwide are the major factors contributing to the growth of the India confectionery market size. The rapid advancement in technologies has enhanced consumer service, which is considered an essential need in every business. Indian consumers always look for enjoyable and fun products. This factor has increased the requirement for manufacturers to innovate new and noval shapes, flavors in confectioneries, and textures, thereby creating new growth opportunities for the market. According to the India confectionery market analysis, the growing retail platforms are boosting the demand for confectionery products. The strong demand for healthier snacking has fuelled the popularity of organic snacks and confectionery in India.
The drastically changing lifestyles of the consumers have motivated them to pay attention to their daily diet pattern and health. The increasing prevalence of various kinds of diseases, including obesity, blood pressure, diabetes, and other diseases, has encouraged individuals to adopt low-calorie and sugar-free food products to reduce the possibilities of these diseases. This factor will accelerate the growth of the market. On the other hand, the variations in the prices of raw materials will hinder the growth of the confectionery market in India. The major raw materials that are used to produce confectionery include sugar and cocoa.
Product Segment Drivers
On the basis of Product Type, the gum confectionery segment is expected to increase at a higher CAGR during the forecast period due to the rising demand for snack bars, innovative candies, and other inventive stuff, especially for children, the working population, and young generation. Additionally, the implementation of new products with advancements in flavor and texture is further attracting new consumers towards the segment.
India 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
- Gum Confectionery
- Regular
- Sugarless
Segmentation by Distribution Channel:
- Supermarket/Hypermarket
- Specialist Retailers
- Online Retail Stores
- Convenience Stores
- Other Distribution Channels
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