New York, NY, June 15, 2021 (GLOBE NEWSWIRE) -- Facts and Factors have published a new research report titled “Chocolate Confectionery Market Size, Insights, Drivers, Opportunities, By Product (Countlines, Boxed, Molded Bar, Straight lines, others), By Type (Milk Chocolate, Dark Chocolate, White Chocolate), By Category (Premium, Seasonal, Everyday), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026”.
“According to the recent research report, the demand of global Chocolate Confectionery Market size & share expected to reach to USD 161.1 Billion by 2026 from USD 135.8 Billion in 2020, at a compound annual growth rate (CAGR) of 3% during the forecast period 2021 to 2026”
Global Chocolate Confectionery Market: Overview
Sweet food is known as confectionery, sometimes known as sweets or candy. The phrase is used differently in different English-speaking nations. Bakers' confections and sugar confections, for example, are two large and somewhat overlapping types of confectionery. In the previous two decades, the worldwide chocolate and confectionery market has grown steadily. Increased urbanization, new product introductions, new marketing methods, changing eating preferences, and the developing trend of giving confectionery products all contribute to this demand. Furthermore, rising brand awareness, exposure to western products in emerging nations, the development of new product categories, and new product variants catering to a wide range of preferences are all contributing to confectionery products' increased popularity. All of these reasons combine to make a compelling case for the chocolate and confectionery industry's rapid expansion. The global chocolate confectionery market is booming, thanks to an increase in manufacturing businesses' consumer engagement efforts. These businesses are continually spending in R&D to offer innovation to the market in the shape of flavor, packaging, and other aspects to attract more customers.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
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Industry Major Market Players
- Ferrero Group
- Nestlé
- Mars Inc.
- Mondelez International Inc.
- Chocoladefabriken Lindt & Sprüngli AG Seestrasse
- Incorporated
- The Hershey Company
- Haribo GmbH & Co. K.G.
- Ezaki Glico Co. Ltd.
- Lindt & Sprungli AG
- Pladis
- Meiji Co. Ltd.
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Key questions answered in this report:
- What is the projected market size & growth rate of the Chocolate Confectionery Market?
- What are the key driving factors for the growth of the Chocolate Confectionery Market?
- What are the top companies operative in Chocolate Confectionery Market?
- What segments are covered in Chocolate Confectionery Market?
- How can I get free sample report/company profiles of the Chocolate Confectionery Market?
Due to the positive impact of advertising, the Chocolate Confectionery market is expected to develop. To improve the reach of their products among their intended end-user categories, chocolate confectionery manufacturers engage in a variety of marketing and promotional initiatives. Furthermore, appealing product packaging, inventive branding efforts, and promotional events raise customer demand for chocolates. Gift packages containing chocolates, items aimed towards the holiday and festival seasons, and “healthy snack-sized” products are all popular with parents and children, who make up a significant end-user sector. Furthermore, in this industry, marketing methods aimed towards children are gaining traction. Ferrero India, for example, has launched several marketing initiatives to boost sales of its Kinder Joy chocolates.
In the previous two decades, the worldwide chocolate and confectionery market has grown steadily. Increased urbanization, new product introductions, new marketing methods, changing eating preferences, and the developing trend of giving confectionery products all contribute to this demand. Furthermore, rising brand awareness, exposure to western products in emerging nations, the development of new product categories, and new product variants catering to a wide range of preferences are all contributing to confectionery products' increased popularity. All of these reasons combine to make a compelling case for the chocolate and confectionery industry's rapid expansion.
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Market Dynamics
The behaviors, interests, and preferences of consumers are always changing. This has resulted in confectionary innovation, which is driving market expansion. To fulfill evolving consumer preferences, manufacturers are expanding their product variety by integrating key nutrients, natural herbal fillers, dried fruits, and lunatic & exotic aromas and flavors in product formulations. Furthermore, in recent years, the increasing tendency of gifting confectionery products such as cookies, chocolates, bakery items, and others has aided market growth. Confectionery products are frequently purchased as a consequence of impulse purchases, thus brands are always developing novel engaging tactics to attract consumer attention. These factors have combined to propel the confectionary products industry forward. The market for chocolate confectionery is one such category that is open to people of all ages. For the vast majority of the world's population, age has never been a deterrent to indulging in chocolates to please their taste senses. For the past decade, the industry has been developing steadily, and new flavors and textures are contributing to the sector's rise. Furthermore, the growing number of consumers interested in outlandish trends like organic chocolate and chocolates with no added sugar are supporting such trials, boosting the chocolate confectionery sector. This invention will appeal to a large number of consumers, resulting in increased growth in the chocolate confectionery market in the coming years. Due to expanding consumer discretionary spending and changing giving traditions, demand for premium chocolates is increasing over the world. Consumers are looking for new chocolate tastes and formulas, which are fueling segmental expansion. Furthermore, the rising relevance of seasonal chocolates on special occasions, as well as their increasing affordability, are assisting the market's expansion. The rising demand for such chocolates has prompted producers to provide tiny, consumer-friendly packets to the market, which is projected to support growth during the forecast period.
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Global Chocolate Confectionery Market: Covid-19 Analysis
The COVID-19 pandemic has had a significant impact on confectionery firms. Even during the course of 2020, the strict rules and lockdown had repercussions in the confectionery industry, causing differential impacts on raw material supply (agricultural produce, food products, and transitional food products), keep trading & logistic support, demand volatility uncertain consumer demand, and workforce at the industrial level. Due to the outbreak of the Covid-19 pandemic, chocolate output and sales have witnessed a sharp drop. Consumer panic buying of food supplies during the early days of the lockdown resulted in a dramatic increase in the sales of mainstream chocolates through retail channels as a source of enjoyment and consolation.
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North America is projected to Dominate Global Chocolate Confectionery Market Growth
North America has the largest market share within the market. Because of the rising demand for premium zed chocolate confectioneries, North America is the largest market stakeholder. The growing demand for organic and clean-label chocolate confectionaries is driving the market in the region. Consumers are looking for products that are both healthy and indulgent. Dark chocolate is becoming increasingly popular in the region, owing to a rising understanding of the health advantages of cocoa. Consumers' growing interest in learning about the origins of chocolate, as well as their worries about labor rights, is projected to drive up demand for reasonable cocoa and chocolate, strengthening the region's position in the chocolate confectionery market. Consumers have a deep emotional attachment to chocolate confectionery products because they are ingrained in family traditions and seasonal celebrations.
Browse the full report “Chocolate Confectionery Market Size, Insights, Drivers, Opportunities, By Product (Countlines, Boxed, Molded Bar, Straight lines, others), By Type (Milk Chocolate, Dark Chocolate, White Chocolate), By Category (Premium, Seasonal, Everyday), By Region: Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/chocolate-confectionery-market
The global chocolate confectionery market is segmented as follows:
By Product:
- Countlines
- Boxed
- Molded bar
- Sessional chocolate
- Straightlines
- Others
By Type:
- Milk chocolate
- Dark chocolate
- White chocolate
By Category:
- Premium
- Seasonal
- Everyday
Key Highlights of this Report:
- Statistically Validated Analysis of Historical, Current, and Projected Industry Trends with Authenticated Market Sizes Information and Data in terms of Value and Volume, wherever applicable
- Detailed List of Key Buyers and End-Users (Consumers) analyzed as per Regions and Applications
- Overview of Key Marketing Strategies and Key Sales Channels Adopted in the Market
- Market Attractiveness Analysis and Key Investment Opportunity Analysis in the Market going forward
- Direct and Indirect Factors that Impacted the Industry as well Projected Rationales expected to affect the industry going forward
- Historical and Projected Company / Vendor / OEM / Supplier Market Shares, Competitive Landscape, and Player Positioning Data
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