|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The global confectionery market is forecasted to witness a CAGR of 3.45% during the forecast period (2021 - 2026).
- Chocolate is the most popular category dominating the market, owing to its increased consumption, globally. North America and Europe are the market leaders, with Asia-Pacific and the Middle East being a prospective market, owing to the customers’ increasing preference for the exotic confectionary products being sold and manufactured in those countries.
- High sugar content related to obesity is a severe concern among consumers. Consumers are looking for healthier options, such as low calorie, high cocoa, and functional ingredient-based confectionery. Functional claim on confectionery products labels is growing rapidly.
- Also, snack bars are commonly perceived as a healthier alternative to chocolate or confectionery, and also due to its product variation, in terms of the different nutrition, such as proteins, they are enjoying a strong image as a treat.
Scope of the Report
The global confectionery market is segmented into segments such as product type, distribution channel, and geography. Under the product type, the market is segmented into chocolate (dark chocolate and white chocolate), sugar confectionery (boiled sweets, mints, pastilles, gums, jellies & chews, toffees, caramels & nougat, and other sugar confectionery products) and snack bar (cereal bars, energy bars, and other snack bars).
Moreover, under the distribution channel, the global confectionery market is segmented into supermarkets and hypermarkets, convenience stores, online retail stores, specialist retailers, vending machines, and other distribution channels.
|By Product Type|
|By Distribution Channel|
|Online Retail Stores|
|Other Distribution Channels|
Key Market Trends
Increasing Demand for Organic Chocolate
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Increasing Popularity of Sugar-free Confectionery across the Developed Economies
Low-calorie products, such as sugar-free confectionaries, are expected to be the driving force behind the modest growth in the global confectionery market over the forecast period. Also, the high sugar intake is a cause for concern globally, as it is linked to a number of health problems. In order to avoid sugar intake, when consuming candy, many people choose sugar-free options. To make sugar-free chocolate and gums, there are two classes of sweeteners that are typically used; sugar alcohols and artificial sweeteners. For instance, Hershey, the leading US-based chocolate player has sugar-free variants for leading brands, such as Hershey and Reese’s, which use maltitol and polyglucitol, instead of sugar. The sugar-reduction movement has caused global manufacturers to use increasing amounts of sugar replacers or natural sweeteners in their new products. This health trend has not only fostered a shift in ingredients for the confectionery industry, but also new pack sizing strategies. The aim of these new formats are to convey greater portion control and lower guilt of buying a treat while boosting impulse purchase.
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- In 2020, Mondelez International Inc has patented a process that enables it to lower the sugar levels in its chocolate using soluble corn fibre; this has the potential to reduce the level of sugar in their products by up to 50% without compromising on the flavour of the actual product.
- In 2019, Mars Wrigley has extended their portfolio by the addition of a trio of vegan Galaxy chocolate bars in Caramel & Sea Salt, Caramelised Hazelnut flavours and Smooth Orange; this can be seen as companies response to capture consumers who are into special lifestyle choices.
- In 2018, Highlander Partners has acquired the Trademark Portfolio of Huhtamaki; these include Jolly Rancher, Payday, Whoppers, Heath, Milk Duds, Sixlets, Good & Plenty, Zero, Chuckles, and Good & Fruity; with this company is expecting to leverage the image of already established brands.
Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porter's Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Product Type
5.1.1 Chocolate Confectionary
22.214.171.124 Dark Chocolate
126.96.36.199 White and Milk Chocolate
5.1.2 Sugar Confectionery
188.8.131.52 Boiled Sweets
184.108.40.206 Toffees, Caramels and Nougat
220.127.116.11 Pastilles, Gums, Jellies and Chews
5.1.3 Snack Bar
18.104.22.168 Cereal Bars
22.214.171.124 Energy Bars
5.2 By Distribution Channel
5.2.2 Specialist Retailers
5.2.3 Online Retail Stores
5.2.4 Convenience Stores
5.2.5 Other Distribution Channels
5.3.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.3 Asia Pacific
18.104.22.168 Rest of Asia-Pacific
5.3.4 South America
22.214.171.124 Rest of South America
5.3.5 Middle East and Africa
126.96.36.199 Saudi Arabia
188.8.131.52 South Africa
184.108.40.206 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Most Active Companies
6.2 Most Adopted Strategies
6.3 Market Share Analysis
6.4 Company Profiles
6.4.1 Mars, Incorporated
6.4.2 Ferrero International S.A.
6.4.3 Nestle S.A.
6.4.4 Mondelēz International, Inc
6.4.5 Meiji Holdings Co., Ltd.
6.4.6 The Hershey Company
6.4.7 Chocoladefabriken Lindt & Sprungli AG
6.4.8 EZAKI GLICO CO.,LTD.
6.4.9 HARIBO GmbH & Co. KG
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
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Frequently Asked Questions
What is the study period of this market?
The Confectionery Market market is studied from 2016 - 2026.
What is the growth rate of Confectionery Market?
The Confectionery Market is growing at a CAGR of 3.45% over the next 5 years.
Which region has highest growth rate in Confectionery Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Confectionery Market?
North America holds highest share in 2020.
Who are the key players in Confectionery Market?
Mars, Incorporated, Ferrero, Nestle S.A., Mondelēz International, Meiji Holdings Co., Ltd. are the major companies operating in Confectionery Market.