The Confectionery markets are into the production of a wide variety of food items like chocolates, candies, caramels, toffees, cookies, lollies, and many others, which are rich in sugar and sweet content. Most confectionery market items consist of food products like cocoa, honey, nuts, fruits, milk, sugar and many more that are consumed globally in developed and developing countries.
Hence it’s consumed in all the geographical regions. The confectionery market is projected to witness significant growth in the Asia Pacific, especially the South East Asia countries, where there has been a consistency in growth in the past few years.
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Confectionery Market Driven by Consumer Spending on Sugar – free Food Products
Food items, such as sugar-free candies or chocolates, are expected to significantly stimulate the growth of the confectionery market over the forecast period owing to the rise in awareness regarding the health benefits associated with the consumption of low-calorie content. And consumers have made a shift towards the consumption of sugar-free items.
In order to produce sugar-free chocolates, candies or gums, sweeteners can be used. Global manufacturers will have to switch from using sugars to applying sweeteners to their new products.This health trend has not only caused the global confectionery market to make a shift in ingredients but has also fostered the industry to new pack sizing strategies
The rise in consumers’ changing lifestyles has led to the rise in demand for confectionery products. Consumers with hectic schedules tend to demand confectionery product since the product is convenient and can be consumed within a short period. Presently, the rise in the number of women working is a factor in boosting the market since there is little or no time to prepare food after a hectic day at work.
Expansion of Retail Market
Wide range of confectionery item are readily available at various retail markets such as grocery stores, convenience stores, supermarkets, hypermarkets and forecourt retailers. These stores help in increasing the brand exposure of several confectionery items.
The rise in demand for gift items among consumers is another factor fueling the global confectionery market’s growth. Consumers are often confused about what item to use as gifts for their outings, so they end up buying confectionery items because of its portability.
Confectionery Market Restraints
The global confectionery market will witness a decline in growth due to the increasing awareness of the detrimental effect of consuming food items with high sugar content.
Also, diversity in consumer spending habits will hamper the growth of the industry over the forecast period. The fluctuation in the prices of raw materials needed for producing confectionery items is another factor to consider as it might force the market to decline tremendously over the forecast period.
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Confectionery Market: Region-wise Analysis
Europe has the most substantial dominance in the global confectionery market, followed by the Asia Pacific and North America regions. Countries like the US, UK, and China have the largest confectionery market globally. The Asia Pacific region is the fastest-growing confectionery market globally, with India acting as the driver in the region due to the rise in disposable income
Other regions like Africa and the Middle East are expected to record a moderate growth over the forecast period.
Global Confectionery Market: Competitive Landscape
- Ferraro
- Hershey’s
- Lindt, Wrigley’s
- Perfetti Van Melle and ChupaChupa have their success built on consistency and product innovation. Other key players include
- Mars
- Incorporated
- Mondelēz International
- Nestlé S.A.
- Parle Products Pvt. Ltd.
- Kraft Foods
- Cadbury
- HARIBO Dunhills (Pontefract) PLC
- United Confectionery Manufacturers
- Perfetti Van Melle
- Kegg’s Candies
- Petra Foods
- Yildiz Holding
- Crown Confectionery
- Brookside Foods.
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Region-wise Analysis
- North America (U.S., Canada)
- Latin America (Mexico, Brazil)
- Europe (Germany, U.K., France, Italy, Spain, Poland, Russia)
- East Asia (China, Japan, South Korea)
- South Asia (India, Thailand, Malaysia, Vietnam, Indonesia)
- Oceania (Australia, New Zealand)
- Middle East & Africa (GCC Countries, Turkey, Northern Africa, South Africa)
Global Confectionery Market Segment Analysis
The global confectionery market can be segmented on the following basis:By Type
By Sugar:
- Hard-Boiled Sweets
- Caramels & Toffees
- Gums & Jellies
- Medicated Confectionery
- Mints
- Others (Marshmallows, Nougat, Lollipops, and Liquorice)
By Chocolate
- White
- Milk
- Dark
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