The report titled ‘Global Confectionery Market Outlook, 2026′ published by Actual Market Research identifies and discusses recent developments in confectioneries across the globe. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the Covid effect on the industry. As the name suggests, this sweet-tasting is loved by all age groups across the globe. The market has been in growth at a steady pace on account of the high demand from middle-class consumers. The report includes the market study of chocolate, sugar confectionery & gum confectionery. In terms of type, the chocolate market has been classified into dark chocolate, white chocolate & milk chocolate, segments of everyday, seasonal/ gift box, premium, and gourmet- by application, while the sugar confectionery segment is classified into Hard Boiled Sweets, Plain Mints, Caramel/ Toffee, Chewy, Novelty, Licorice, Sugar-free, and Others and in terms of age group- Children, Adult & Geriatric. The confectionery market is divided into different segments of Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, E-commerce & others based on sales channel, and by region & country.
Sugar confectionery or sugar candy is made from sugar and water or milk. Some type of sugar confectionery contains sugar or molasses is mixed with butter and occasionally flour, and heated to the point of caramelizing. On the other hand, chocolate, instead of being made primarily of sugar, is actually made from the seeds of the tropical cacao tree.
From home-cooked traditional desserts to organic filling flavors, the preferences and the tastes of the people have been evolving constantly. This has enabled the manufacturers to commercialize the confectionery market. The market value of the confectionery market, which includes chocolate, sugar confectionery, and the gum confectionery market, is likely to be crossing a value of USD 250 Billion by the end of the forecasted period. The chewy sugar confectionery segment leads the sugar confectionery market with a value share of 37.99% in the year 2015. The leading brands are engaging in more marketing & promotional activities to gain more consumer attention as threes products are mostly purchased as a result of impulse buying. However, on the other hand, the volatile nature of raw material prices hampers the growth of the market.
The production of confectioneries has been affected due to limitations on import-export trades and scarcity of workforce during the Covid lockdown. In addition, a decrease in overall household revenues has resulted in lower demand for confectioneries. All these factors are obstructing the market growth during the crisis period. But it wasn’t reflected negatively on the market value, as a positive incline was registered.
With the fast-paced life, people present each other with confectioneries rather than spending hours in the kitchen. This has paved the way for the chocolate confectionery manufacturers to make attractive packing alternatives which in the year 2020 held to a market value of USD 24 Billion. Apart from the packing and presentations, the manufacturers are also actively involved in the introduction of different flavor variants like tropical fruits, herbals, but based, etc. With the increase in the disposable income among the developing economy, the demand for premium quality chocolates is also to incline in the forecasted period, at a growth rate of 9.81%.
In terms of region, Europe held to a high share in the year 2015, which was at 40%, given its high production capacity, already established dominance in the chocolate segment. The Asia Pacific sugar confectionery market is dominated by China, which held nearly half of the market share in the region.
The high sugar content resulting in obesity is a major concern among consumers. Thus, consumers are looking for healthier options, such as low-calorie, and functional ingredient confectionery. Functional claim on confectionery products labels is growing more potentially. Healthier snacking, along with convenience to store and taste, is the rising trend among consumers. The companies are launching convenient packaging that allows consumers to eat in small portions and preserve the rest for later.
Among the distribution channel segment, the online sales channel is forecasted to observe the fastest growth in the forecast period. This growth is mostly because working individuals, with a hectic lifestyle, shop from online stores as it is very convenient and easy to purchase.
Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., LOTTE CONFECTIONERY CO., LTD., Mondelez International, Lindt & Sprungli AG
CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
ASPECTS COVERED IN THE REPORT
• Global Market Size By Value for the time period (2015-2026F)
• Regional Market Size By Value for the time period (2015-2026F)
• Country Wise Market Size By Value for the time period (2015-2026F)
• Market Share by Product Type
• Market Share by Age Group
• Market Share by Sales Channel
• Market Share by Region
• Market Share by Country
• Market Share by Company
Table Of Content
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Global Confectionery Market Outlook
4.1. Market Size by Value
4.2. Market Share
4.2.1. By Type
4.2.2. By Region
4.2.3. By Country
4.2.4. By Company
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