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The leading Europe Sugar Confectionery Market to grow with the lowest CAGR 3.13%: Actual Market Research
Oct, 09
2021

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The leading Europe Sugar Confectionery Market to grow with the lowest CAGR 3.13%: Actual Market Research

 

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Europe leads the market of sugar confectionery, which enjoys prominence given its already established chocolate industry. Many international brands in the region have been working on product lines and introducing newer brands. The recent publication of Actual Market Research, titled 'Europe Sugar Confectionery Market Outlook, 2026' is an in-depth study of the regional market along with the dynamics that is to shape the market.

The leading market in 2015 was valued at USD 17.58 Billion, backed by the high number of manufacturers present in the region. Given the highly competitive nature of the market, the manufacturers are focused on introducing newer variants and flavors to attract more consumers. However, as the region is moving towards being health-conscious, more and more people are now looking for a healthy alternative for sugar confectionery. In the recent past, the high sugar content has become an eyebrow-raising question in the market. With many such hurdles, this regional market is expected to grow with the lowest CAGR of 3.13%.

One of the newest entries in this regional market is the introduction of vegetable flavored sugar confectionery, of which citrus extracts are considerably more popular. As the region is looking for a healthy alternative, the sugar-free confectionery segment is expected to grow with an anticipated CAGR of 6.23%. The licorice has its origin traces in the southern region, which justifies the strong obsession with licorice confectionery in Europe. In terms of age group, the European market is led by the adult age group which is expected to be the fastest-growing segment with an anticipated CAGR of 3.46%.

One of the major trends in the region is the rising idea of giving confectioneries in form of reward & gratification, which is to aid the market in the coming period. This has influenced the manufacturers to focus on their packaging as well. Germany leads the Europe region, with a market share of 16% in the year 2020, while the rest of the European region is expected to be growing to a share of little less than 50% by the end of 2026. The demand for premium quality confectioneries has grown significantly in the region. Germany & UK are two of the major markets in the region. Notably, there has been a decline in consumption in the Western European market. The region is now inclining towards the consumption of organic sugar confectioneries.

The prices of the raw materials are quite unstable in the region and are highly influenced by the factors like political and weather instability. This is expected to hurdle market growth. In the region, sugar confectioneries are seen as treatments. In 2015, the market was dominated by the convenience store segment, in terms of sales channel which held to less than 40% of the market. However, the e-commerce segment is expected to be growing with an anticipated CAGR of 6.34% in the forecasted period. Key players mentioned in this report are: 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