Global Confectionery Market Size To Worth USD 256.2 Billion By 2033 | CAGR OF 3.01%
Category: Food & BeveragesGlobal Confectionery Market Size To Worth USD 256.2 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Confectionery Market Size is to Grow from USD 190.5 Billion in 2023 to USD 256.2 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 3.01% during the projected period.
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Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Confectionery Market Size, Share, and COVID-19 Impact Analysis By Product Type (Hard-boiled Sweets, Mints, Gums and Jellies, Chocolate, Caramels and Toffees, Medicated Confectionery, Fine Bakery Wares, and Others), By Age Group (Children, Adult, Geriatric), By Price Point (Economy, Mid-range, Luxury), By Distribution Channel (Supermarkets and Hypermarkets, Convenience Stores, Pharmaceutical and Drug Stores, Online Stores, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."Get Detailed Report Description Here:https://www.sphericalinsights.com/reports/confectionery-market
Sugar-free sweets are becoming more and more popular these days because of things like rising obesity rates, a rise in diabetes cases, growing health and nutritional concerns, and shifting lifestyles. Confections are foods that are heavy in carbohydrates and sugar. There are confections such as chocolates, biscuits, bars, candies, and mints. Consumers' interests, tastes, and behaviors are always evolving. One of the main factors supporting market expansion is the variations in flavor and format innovation, which have forced producers to accommodate the various preferences of a broad client base around the globe. These factors have a significant impact on the global confectionery market share. Furthermore, the expansion of the confectionery industry is mostly driven by consumer demand for premium items, which are defined as luxurious and pleasant confections. Owing to global health trends, people's demand for sugar-free and low-calorie products is increasing, which accelerates product formulation innovation and fuels the need for sweets. But the average yearly price of the raw materials varies from low to high, which causes an excess or understock when producing items made with sugar and chocolate for the market.
The chocolate segment is anticipated to hold the greatest share of the global confectionery market during the projected timeframe.
Based on the product type, the global confectionery market is divided into hard-boiled sweets, mints, gums and jellies, chocolate, caramels and toffees, medicated confectionery, fine bakery wares, and others. Among these, the chocolate segment is anticipated to hold the greatest share of the global Confectionery market during the projected timeframe. Consumer knowledge of chocolate's health advantages, especially its high cocoa content and possible benefits for cardiovascular health, is driving the market for the chocolate product category.
The adult segment is anticipated to hold the largest share of the global confectionery market during the projected timeframe.
Based on the age group, the global confectionery market is divided into children, adult, and geriatric. Among these, the adult segment is anticipated to hold the largest share of the global Confectionery market during the projected timeframe. The adult confectionery industry is driven by the increased demand for rich and luxurious flavor profiles that appeal to mature tastes searching for new flavors. Rich and complex flavors like dark chocolate with hints of spices or exotic fruits are often attractive to customers in this sector, in addition to premium ingredients like single-origin cocoa beans or handmade nuts.
The economy segment is predicted to hold the greatest share of the confectionery market during the estimated period.
Based on the price point, the global confectionery market is divided into economy, mid-range, and luxury. Among these, the economy segment is economy segment is predicted to hold the greatest share of the Confectionery market during the estimated period. Many important elements that affect consumer behaviour and manufacturing are the main drivers of the confectionery market's economic section. Firstly, customers' price sensitivity is important, particularly in emerging countries and among cost-conscious groups.
The supermarkets and hypermarkets segment is predicted to hold the greatest share of the confectionery market during the estimated period.
Based on the distribution channel, the global confectionery market is divided into supermarkets and hypermarkets, convenience stores, pharmaceutical and drug stores, online stores, and others. Among these, the supermarkets and hypermarkets segment is predicted to hold the greatest share of the Confectionery market during the estimated period. The supermarket and hypermarket market segment is being driven by the increased desire for convenience and variety among customers. These stores provide a wide range of confectionery products under one roof, catering to a diverse range of customer tastes and enhancing the convenience of purchasing.
Asia Pacific is expected to hold the largest share of the global confectionery market over the forecast period.
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Asia Pacific is expected to hold the largest share of the global confectionery market over the forecast period. Young, active population, rapid urbanization, increased disposable income, and easy availability to confections in consumer packs are the primary factors propelling the regional market's growth. Making the most of these opportunities, the manufacturers are actively seeking facility expansions as well as mergers and acquisitions with nearby businesses.
North America is predicted to grow at the fastest pace in the global confectionery market during the projected timeframe. Sales of sugar and chocolate products are rising significantly in North America as people look more and more toward these products as comfort food. There is a greater need for snacks and cereal bars in the region as a result of the between-meal snacking trend. One of the main marketplaces in the United States is where people are willing to spend money on artisanal confections that improve in both look and taste.
Major vendors in the global confectionery market include Mondelez International, Inc., Mars, Incorporated, Ezaki Glico Co., Ltd., Haribo GmbH & Co. K.G., Grupo Arcor, Pladis, Nestlé S.A., Meiji Co., Ltd., Ferrero Group, Chocoladefabriken Lindt & Sprüngli AG, Perfetti Van Melle, The Hershey Company, Others.
Recent Developments
- In June 2024, gaining a prominent position with Target and its connected online retailers helped The Functional Chocolate Company become more visible. The US-based firm claims that it blends rich dark chocolate, which is naturally free of gluten and dairy, with a unique blend of nutraceuticals, including vitamins, minerals, botanicals, and amino acids, that are specific to various illnesses. These unique combinations have become more in demand since they address so many common health concerns, including energy, focus, sleep, stress, and much more.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global confectionery market based on the below-mentioned segments:
Global Confectionery Market, By Type
- Hard-boiled Sweets
- Mints
- Gums and Jellies
- Chocolate
- Caramels and Toffees
- Medicated Confectionery
- Fine Bakery Wares
- Others
Global Confectionery Market, By Age Group
- Children
- Adult
- Geriatric
Global Confectionery Market, By Price Group
- Economy
- Mid-range
- Luxury
Global Confectionery Market, By End User
- Supermarkets and Hypermarkets
- Convenience Stores
- Pharmaceutical and Drug Stores
- Online Stores
- Others
Global Confectionery Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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