Market Size of confectionery Industry
| Icons | Lable | Value |
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Study Period | 2018 - 2030 |
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Market Size (2024) | USD 203.67 Billion |
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Market Size (2030) | USD 280.56 Billion |
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Largest Share by Distribution Channel | Supermarket/Hypermarket |
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CAGR (2024 - 2030) | 5.48 % |
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Largest Share by Region | Europe |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Confectionery Market Analysis
The Confectionery Market size is estimated at 203.67 billion USD in 2024, and is expected to reach 280.56 billion USD by 2030, growing at a CAGR of 5.48% during the forecast period (2024-2030).
203.67 Billion
Market Size in 2024 (USD)
280.56 Billion
Market Size in 2030 (USD)
3.38 %
CAGR (2018-2023)
5.48 %
CAGR (2024-2030)
Largest Segment by Confections
53.80 %
value share, Chocolate, 2023
Growing popularity of dark chocolate due to its health benefits, along with growing artisanal chocolate makers in regions like Europe, is making chocolate the largest segment.
Largest Segment by Region
34.33 %
value share, Europe, 2023
Increasing health awareness and obesity instances in Europe have led to rise in sales of low-calorie and sugar-free confectionery items, making it the largest region globally.
Fastest-growing Segment by Confections
8.21 %
Projected CAGR, Snack Bar, 2024-2030
Consumers are replacing conventional snacks with snack bars, growing and witnessing an ever-expanding array of flavors and healthy varieties to supplement eating habits.
Fastest-growing Segment by Region
7.57 %
Projected CAGR, Africa, 2024-2030
The increasing availability of local brands with rising percapita consumption, majorly driven by South Africa and Nigeria countries, is making up Africa's share in the market.
Leading Market Player
14.18 %
market share, Mars Incorporated, 2022
The company's major focus on the quality and high standards of the products in the confectionery segment, with products in a wider range of brands, made Mars a market leader.
Supermarkets and hypermarkets account for the prominent share, followed by convenience stores in the global retail sales of confectionery
- Under the global retailing segment, supermarkets and hypermarkets were considered the largest retailing segment in 2023. Strategic product positioning on the shelves for the confectionery category influences impulse purchase behavior among potential consumers. Casino Supermarkets, Carrefour, Super U, and Lidl are some of the leading grocery store operators in the region. By value share, Europe has been dominating the retailing space by acquiring a share of 33.6% by volume in 2023. A nationwide network of these operators allows easy access to local and mainstream confectionery brands. As of 2023, Lidl operated more than 3,000 stores and 1,500 stores in Germany and France, respectively. Carrefour operates around 2,869 supermarkets across the region.
- Convenience stores are considered the second largest retailers in the global retailing segment. This is because these stores have the capability of offering a greater convenience experience to their consumers. In 2023, it was observed that Becker's was owed 45 stores in Ontario. These stores tend to offer a wide range of chocolate products with innovative offers to their customers. North America is considered the second-largest region for retailing space, holding a share of 29.1% by volume in 2023.
- The online retailing segment was considered the fastest-growing retailing industry for confectionery products in 2023. The segment is estimated to register a value CAGR of 7.13% during 2023-2030. Consumers are also preferring the online retail segment as a one-click shopping platform. Due to this factor, consumers can easily manage the average shopping time spent on confections.
Understand The Key Trends Shaping This Market
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Europe is the leading confectionery segment driven by the consumer preference for tasty and convenient indulgent snacking
- The global confectionery market observed a CAGR of 3.38% during 2018-2023 in terms of value. An increasing trend toward healthier confectionery products made with natural ingredients and less sugar is fueling the growth of the global confectionery market. It has led to the development of products like sugar-free, vegan, and organic, which are popular for their health benefits.
- Compared to other regions, Europe accounted for the largest share of 34.34% in terms of value and registered a growth rate of 4.03% in 2023 compared to 2022. Germany, France, the United Kingdom, and Russia have a huge consumer base for the consumption of confectionery, which will drive the regional demand. Consumer preference for tasty and convenient indulgent snacking is identified as the key market driver in the region. In 2022, 72% of German snackers consumed candy and chocolate bars every week. Also, consumer preference for premium and sustainable chocolate has consequently led to expanding sales of confectioneries in the region.
- North America is the second-largest confectionery market globally. The region is anticipated to register a CAGR of 6.32% in terms of value during the forecast period (2023-2030). The increasing popularity and demand for chocolate confectionery products are propelling the market growth. Consumers of chocolate confectionery in North America can be found in all age groups. In 2022, more than 49% of consumers in the United States consumed milk chocolate, and dark chocolate was consumed by 34% of Americans. Also, in Canada, the average consumption of chocolate stood at 6.4 kg per person in 2022. Canadian households spend an average of USD 88 on chocolate bars per year.
