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Global Sugar Confectionery Market to grow up to market size of USD 65 Billion: Actual Market Research
Featured Companies
1. Mars Incorporated
2. Meiji Holdings Co., Limited
3. Ferrero SPA
4. Haribo GmbH & Co. K.G.
5. Perfetti Van Melle
Majority of the population consuming confectionery products globally falls in the adult age range, constituting (16 to 60 years). It is especially driven by the millennials as they are the highest consumers of chocolate products. Furthermore, brands are targeting their products specifically to this demographic group by adopting trends such as unusual colors, popping candy, hot & spicy options, cooling effects, and more interactive & personalized packaging. However, the geriatric segment is expected to grow at a higher CAGR during the forecast period. By the next decade, majority of the population, especially in developed economies, will be aged 60 years and above. Furthermore, the demand for confectionery products is expected to differ from the existing pattern. This shift in demographics is anticipated to create widespread confectionery market opportunities targeted to the geriatric segment during the forecast period.
The report titled 'Global Sugar Confectionery Market Overview, 2020-2026' published by Actual Market Research identifies and discusses recent developments in sugar confectioneries across the globe. Today sugar is available in different colours flavours which makes them more innovative in taste and this make it more appealing the to consumers. These new innovative items contain starch-based sweeteners which are used for preventing crystallization and reducing hygroscopicity. As per research in the period of 2015 to 2020 the market grew with CAGR of 3.65% and by the end of the forecasted year 2026 it is expected to reach the value of more than USD 65 billion.
Majority of the consumers of confectionery products globally falls under the adult age group that 16 to 60 years age. As per research the demographic shows that most people usually like popping candies, hot& spicy options, unusual colours and more interactive and personalized packaging. With the help of these demographics the brands are improving their products and trying approach more consumers. With the change in consumer preferences, the manufacturers are now focusing on the production of low-calorie, sugar-free, and fibre-rich confectioneries. With this, the sugar-free confectionery segment is expected to witness an anticipated growth rate of 6.34%, in the forecasted period. The increase of promotional activities through social media is also a major reason for the high dominance of the adult age group segment. This segment in the global market share is less than 50%.
With the outbreak of Covid-19, caused a severe impact on the market. The lockdown rules had led to ripple the sugar confectionery business which also impacted on the supply of raw material, trade, uncertain consumer demand and this affected the workforce at the industrial level. One of major factors that affected the market size was the sales, because consumers reduced gifting and impulse buying and that declined the sales gradually.
The other regions like Europe held the highest share of 40% in the year 2015 and it is expected that the market will have a significant growth in the developed countries by increasing sales by the leading brands. It is also expected that by 2026 Latin America with Middle East & Africa is expected to have less 10% of the market share.
Companies Mentioned in the Sugar Confectionery Market are :
1. Mars Wrigley Confectionery, div. of Mars Inc.
2. Ferrero Group
3. Haribo GmbH & Co. K.G.
4. Perfetti Van Melle, Meiji Co. Ltd.
5. Nestle SA
6. Hershey Co.
7. LOTTE CONFECTIONERY CO., LTD.
8. Mondelez International
9. Lindt & Sprungli AG
CONSIDERED IN THE REPORT
• Geography: Global
• Base year: 2020
• Historical year: 2015
• Forecasted year: 2026
REGIONS COVERED:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
ASPECTS COVERED IN THE REPORT
• Global Market Size By Value for the time period (2015-2026F)
• Regional Market Size By Value for the time period (2015-2026F)
• Country Wise Market Size By Value for the time period (2015-2026F)
• Market Share by Product Type (Hard Boiled Sweets, Plain Mints, Caramel/ Toffee, Chewy, Novelty, Licorice, Sugar-free, Others) By Value
• Market Share by Age Group (Children(1-20 Age), Adult (20-55) & Geriatric(55 and above)) By Value
• Market Share by Sales Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, E-commerce & Others) By Value
• Market Share by Region
• Market Share by Country
• Market Share by Company
This report would help you answer the following questions:
1. What is the market size and forecast of the Sugar Confectionery Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Sugar Confectionery Market during the forecast period?
3. Which region outstands in the Sugar Confectionery Market?
4. Which are the segments to invest in over the forecast period in the Sugar Confectionery Market?
5. What is the competitive strategic window for opportunities in the Sugar Confectionery Market?
6. What are the technology trends and regulatory frameworks in the Sugar Confectionery Market?
7. What are the major companies in the Sugar Confectionery Market?
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