Confectionery Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | North America |
| CAGR: | 4.2 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and it's growth?
Confectionery Market Analysis
The global confectionery market is projected to grow at a CAGR of 4.2% over the next five years.
The ongoing trend of healthier snacking and the popularity of convenient snacking, along with appropriate taste and adequate nutritional benefits, is rising among consumers, boosting the confectionery market. With the popularity of sugar and chocolate products, the organic snack segments of confectionary food items have gained traction in the global market. Consumers seek healthier options, such as low-calorie, high-cocoa, and functional ingredient-based confectionery. Functional claim on confectionery product labels is growing rapidly.
Rising modernization and a hectic lifestyle balancing professional & personal life are a few of the major attributes triggering the demand for convenience snacks in the everyday diet as they prefer having easy-to-cook and quick-to-eat food commodities. Also, snack bars are commonly perceived as a healthier alternative confectionery food, and due to their product variation, in terms of the different nutrition, such as proteins, low carb, and low sugar, these product has been highly preferred among new generations.
High sugar content related to obesity is a severe concern among consumers. Consumers seek healthier options, such as low-calorie, high-cocoa, and functional ingredient-based confectionery. Functional claim on confectionery product labels is growing rapidly. Thus, the demand for a sugar-free, low cab, high-protein confectionary foods such as chocolates and snacks bar and sugar-free chewing gum was growing and anticipated to boost the confectionary food market globally.
Confectionery Industry Segmentation
Confectionery can be defined as food items rich in sugar. It typically includes candies, chocolates, and other such products. The global confectionery market is segmented into 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 and chews, toffees, caramels and nougat, and other sugar confectionery products), and snack bar (cereal bars, energy bars, and other snack bars). The distribution channel is segmented into supermarkets and hypermarkets, convenience stores, online retail stores, specialist retailers, vending machines, and other distribution channels. The study also covers the global-level analysis of the major regions, including North America, Europe, Asia-Pacific, South America, the Middle East and Africa. For each segment, the market sizing and forecasts have been done based on the value in USD million.
| Product Type | |||||||
| |||||||
| |||||||
|
| Distribution Channel | |
| Supermarket/Hypermarket | |
| Specialist Retailers | |
| Online Retail Stores | |
| Convenience Stores | |
| Other Distribution Channels |
| Geography | |||||||||
| |||||||||
| |||||||||
| |||||||||
| |||||||||
|
Confectionery Market Trends
This section covers the major market trends shaping the Confectionery Market according to our research experts:
Increasing Demand for Organic and Clean Label Snacks
Healthier snacking, along with convenience and taste, is the rising trend among consumers, which is the major strategy adopted by giant companies due to the increasing demand for healthy snacks. The demand for organic chocolate is rising nowadays as it does not contain any added chemicals, which can cause severe health issues. Consumers prefer vegan, organic, gluten-free, and sugar-free chocolates as they are conscious of their health and wellness. Thus, various giant confectionery companies are introducing the latest flavored chocolates with innovative packaging that lets consumers consume them in small portions and preserve the rest for later. The increase in exports for organic chocolates is also expected to drive the demand for the organic-based confectionery market. Major companies are expanding their product range by concluding functional ingredients, tropical fruit, flavor fillings, and nut-based and exotic flavors in organic chocolates to fulfill changing customer demands. This consecutively accelerates the confectionary market globally.
Healthier snacking, along with convenience and taste, is the rising trend among consumers, which is the major strategy adopted by giant companies due to the increasing demand for healthy snacks. The demand for organic chocolate is rising nowadays as it does not contain any added chemicals, which can cause severe health issues. Consumers prefer vegan, organic, gluten-free, and sugar-free chocolates as they are conscious of their health and wellness. Thus, various giant confectionery companies are introducing the latest flavored chocolates with innovative packaging that lets consumers consume them in small portions and preserve the rest for later. The increase in exports for organic chocolates is also expected to drive the demand for the organic-based confectionery market. Major companies are expanding their product range by concluding functional ingredients, tropical fruit, flavor fillings, and nut-based and exotic flavors in organic chocolates to fulfill changing customer demands. This consecutively accelerates the confectionary market globally.
To understand key trends, Download Sample Report
Asia-Pacific Holds Major Share in Confectionary Market
Asia-Pacific is predicted to witness considerable growth, owing to the increasing urbanization and easy accessibility and availability of functional confectionery food and beverages over the regions. Demand for low-calorie products, such as sugar-free confectionaries and low carbs, is high in the Asia-Pacific areas like India and Japan, as most of the Asian cuisine is healthy and nutritious. Thus, it is expected to be the driving force behind the modest growth in the global confectionery market over the forecast period. Asian countries are shifting toward sugar-free confectionaries as high sugar intake causes several health issues. To make sugar-free chocolate and gums, two classes of sweeteners are typically used, namely 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 polyglycitol instead of sugar.
To understand geography trends, Download Sample Report
Confectionery Industry Overview
With a huge global presence and wide distribution networks, the key players, such as Mars Incorporated, Mondelez International, Ferrero Group, Mondelēz International, and Nestle SA, hold prominent shares in the global confectionery market. Key players are focusing on online distribution channels for their online marketing and branding of their products in order to expand their geographic reach and increase their customer base. Leading manufacturers in the confectionery market are focusing on leveraging opportunities posed by emerging markets, like China and India, to expand their revenue base because of the rising income levels and preference for different confectionery products type, owing to the diversified product portfolio, which includes fruit and nut-based chocolates, dark chocolates, and flavored chocolates.
Confectionery Market Leaders
Mars, Incorporated
Nestle S.A.
Meiji Holdings Co., Ltd.
Mondelez International Inc.
Ferrero International S.A.
*Disclaimer: Major Players sorted in no particular order
Confectionery Market News
- In January 2022, Cadbury, a brand under Mondelez, launched a Twist Wrap packaging solution for its Duos range, allowing customers to snack a portion and then twist and seal the rest of the package for further consumption.
- In April 2022, Lake Champlain Chocolates released a new creation based on the latest work from a Vermont best-selling author.
- In May 2022, Kellogg collaborated with design firm Landor & Fitch to develop a new packaging system that complemented the brand's current offerings. The new packaging was rolled out in regions such as the United Kingdom and Ireland, Benelux, France, Italy, Portugal, Spain, and the Middle East &North Africa.
Confectionery Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 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 Product Type
5.1.1 Chocolate Confectionary
5.1.1.1 Dark Chocolate
5.1.1.2 White and Milk Chocolate
5.1.2 Sugar Confectionery
5.1.2.1 Boiled Sweets
5.1.2.2 Toffees, Caramels and Nougat
5.1.2.3 Pastilles, Gums, Jellies and Chews
5.1.2.4 Mints
5.1.2.5 Other Sugar Confectioneries
5.1.3 Snack Bar
5.1.3.1 Cereal Bars
5.1.3.2 Energy Bars
5.1.3.3 Other Snack bars
5.2 Distribution Channel
5.2.1 Supermarket/Hypermarket
5.2.2 Specialist Retailers
5.2.3 Online Retail Stores
5.2.4 Convenience Stores
5.2.5 Other Distribution Channels
5.3 Geography
5.3.1 North America
5.3.1.1 United States
5.3.1.2 Canada
5.3.1.3 Mexico
5.3.1.4 Rest of North America
5.3.2 Europe
5.3.2.1 Germany
5.3.2.2 United Kingdom
5.3.2.3 Italy
5.3.2.4 Spain
5.3.2.5 France
5.3.2.6 Russia
5.3.2.7 Rest of Europe
5.3.3 Asia-Pacific
5.3.3.1 China
5.3.3.2 Japan
5.3.3.3 India
5.3.3.4 Australia
5.3.3.5 Rest of Asia-Pacific
5.3.4 South America
5.3.4.1 Brazil
5.3.4.2 Argentina
5.3.4.3 Rest of South America
5.3.5 Middle East and Africa
5.3.5.1 Saudi Arabia
5.3.5.2 South Africa
5.3.5.3 Rest of Middle East andAfrica
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Mars, Incorporated
6.3.2 Ferrero International SA
6.3.3 Nestle SA
6.3.4 Mondelēz International Inc
6.3.5 Meiji Holdings Co. Ltd
6.3.6 The Hershey Company
6.3.7 Chocoladefabriken Lindt & Sprungli AG
6.3.8 EZAKI GLICO Co. Ltd
6.3.9 Crown Confectionery
6.3.10 HARIBO GmbH & Co. KG
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Confectionery Market Research FAQs
What is the study period of this market?
The Confectionery Market is studied from 2018 - 2028.
What is the growth rate of Confectionery Market?
The Confectionery Market is growing at a CAGR of 4.2% over the next 5 years.
Which region has highest growth rate in Confectionery Market?
Asia-Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Confectionery Market?
North America holds highest share in 2021.
Who are the key players in Confectionery Market?
Mars, Incorporated, Nestle S.A., Meiji Holdings Co., Ltd., Mondelez International Inc., Ferrero International S.A. are the major companies operating in Confectionery Market.
Confectionery Industry Report
Statistics for the 2023 Confectionery market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Confectionery analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Confectionery Report Snapshots
