The liquor confectionery market is expected to reach a value of US$ 603.0 million in 2023 and is projected to grow to US$ 1,002.0 million by 2033, with a significant CAGR of 5.0% during the forecast period.
The market is driven by the increasing trend of preparing handmade confectioneries at home using liquor as a prominent ingredient, as well as the rising demand for innovative liquor-based edible products.
Manufacturers are introducing creative product formats such as liquor-filled chocolates, liquor-infused gummies, and truffles with liquor centers to attract consumers.
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Online platforms provide a convenient channel for consumers to explore and purchase a wide variety of liquor confectionery products. E-commerce also enables manufacturers to reach a large customer base and offer exclusive or limited-edition products.
Liquor confectioneries are expensive compared to non-alcoholic confectioneries on the market. This is because the price of liquor confectioneries is affected not only by the general price of raw ingredients such as cocoa and other types of nuts but also by the total price of alcoholic beverages. Overall, the liquor confectionery market is witnessing growth due to the increasing consumer demand for premium, innovative, and ethically produced products, as well as the convenience offered by online retail channels.
Liquor chocolates are a prominent segment in the liquor confectionery market, catering to the demand for premium and gourmet options. They hold a significant share of 34.6% in the market due to their unique flavor combinations and indulgent experience.
Hypermarkets play a crucial role in the distribution and availability of liquor confectionery products, contributing a prominent share of 29.3% in the market. With their wide range of products, convenient shopping experience, and competitive pricing, hypermarkets attract a large customer base seeking liquor confectionery items.
Germany holds a market share of 33.0% in Europe’s liquor confectionery market, driven by the increasing demand for fruity liquor confectionery. Unique flavors and the trend of serving bite-sized desserts at social gatherings contribute to the growth of liquor confectionery sales in Germany.
The United States accounts for a significant share of 31.0% of the liquor confectionery market. The market in the United States is driven by the factors such as:
- The popularity of premium and gourmet options.
- Evolving consumer preferences.
- The presence of established confectionery manufacturers and robust retail channels.
China is predicted to experience a growth rate of 7.9% in the liquor confectionery market, fueled by the growing popularity of international and unique confectionery products. Manufacturers are investing in production facilities in China to meet the increasing demand.
India shows promising growth in the liquor confectionery market, with a progressive growth rate of 9.0%. The market is supported by domestic and international confectionery manufacturers, expanding retail infrastructure, and the rise of gifting culture.
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Competitive Landscape
In the industry analysis, a few big organizations are pursuing specific tactics such as mergers and acquisitions that allow them to expand their existing competence while innovating many product offers.
- Mars, Inc. established a partnership with Microsoft Corp. in May 2021 to accelerate Mars’ digitalization by leveraging the Microsoft Azure platform to maximize intelligent manufacturing supply chains and operational speed.
- Dot’s Pretzels and Pretzels Inc. were acquired by The Hershey Company in December 2021, bringing production capacity in-house and confirming Dot’s continued expansion and experience to drive snacking innovations in the coming years.
Key Companies Profiled
- Hershey’s
- Ferrero SpA
- Mondelez International
- Toms Gruppen
- Liqueur Fills
- Abtey Chocolate Factory
- Neuhaus
- Mars
- Brookside
- Booz Drops
- Others
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Key Segments Covered in the Liquor Confectionery Market Report
By Product Type:
- Candies
- Gums
- Chocolates
By Distribution Channel:
- Direct
- Indirect
- Hypermarkets/Supermarkets
- Convenience Stores
- Specialty Stores
- Independent Retailers
- Online Retailers
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific Excluding Japan (APEJ)
- Japan
- The Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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