According to the latest report by IMARC Group, titled “Confectionery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global confectionery market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global confectionery market reached a value of US$ 177.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 221.7 Billion by 2027, exhibiting a CAGR of 3.67% during 2022-2027. Confectionery products refer to food items rich in sugar and other sweeteners. They are made utilizing a wide range of ingredients, which aid in improving the texture, appearance, elasticity, etc. Confectionery products also work as stabilizers, emulsifiers, gelling, thickening agents, etc. Presently, the ongoing trend of gifting confectionery items, such as cookies, chocolates, bakery items, etc., is offering lucrative growth opportunities to market players. Consequently, key manufacturers are focusing on expanding their product portfolio by incorporating confectionery items made using tropical, nut-based, and exotic flavors to suit the taste and preferences of consumers.
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Market Trends and Drivers:
The shifting taste preferences among consumers, the escalating urbanization levels, the increasing working population, and the inflating purchasing power of individuals across the globe are among the key factors stimulating the confectionery market. Additionally, the growing incidences of lifestyle diseases, including obesity and diabetes, are acting as significant growth-inducing factors. Besides this, the expanding need for items made utilizing vitamins, minerals, cannabidiol (CBD), fiber, protein, omega-3s, probiotics, and energy supplements without calories and sugar is also propelling the market growth. Apart from this, the elevating consumption of nutraceuticals and sports nutrition products is fueling the global market.
Furthermore, the introduction of gluten-free and organic product variants by leading manufacturers with no additives and preservatives and reduced allergens is also driving the market growth. Moreover, the shifting consumer preferences towards healthy, sustainable, and clean-label confectionery variants are further catalyzing the global market. Additionally, the development of premium items by key manufacturers in innovative flavors and textures is also bolstering the market growth. Besides this, the inflating availability of these products through e-commerce channels, the increasing penetration of the internet, and the elevating sales of smartphones are expected to positively influence the confectionery market over the forecasted period.
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Key Market Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Chocoladefabriken Lindt & Sprüngli AG
- Crown Confectionery
- Ezaki Glico Co. Ltd.
- Ferrero International S.A.
- HARIBO GmbH & Co. KG
- Mars Incorporated
- Meiji Holdings Co. Ltd
- Mondelz International Inc.
- Nestle S.A.
- Parle Products Pvt. Ltd
- The Hershey Company
- The Kraft Heinz Company
Breakup by Product Type:
- Hard-boiled Sweets
- Gums and Jellies
- Caramels and Toffees
- Medicated Confectionery
- Fine Bakery Wares
Breakup by Age Group:
Breakup by Price Point:
Breakup by Distribution Channel:
- Supermarkets and Hypermarkets
- Convenience Stores
- Pharmaceutical and Drug Stores
- Online Stores
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
TOC for the Report:
- Scope and Methodology
- Executive Summary
- Global Market
- SWOT Analysis
- Value Chain Analysis
- Price Analysis
- Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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