Rockville, Nov. 30, 2022 (GLOBE NEWSWIRE) -- According to a recently published research report by Fact.MR, a provider of market research and competitive intelligence, the projected value for the global confectioneries market is US$ 474 billion for 2033-end. Worldwide demand for confectionery products is estimated to increase at a CAGR of 4.6% through 2033.
Rapid growth of the food and beverages industry around the world along with increasing per capita consumption of sugar confectionery products is estimated to promote growth opportunities in the market. Manly people are inclined towards using these products as gifts, which is further contributing to market growth. Rapid urbanization and rising disposable income are serving as pivotal factors propelling the demand for chocolate confectionery. Attractive packaging is also playing a part in the rising demand for confectionery products across emerging economies.
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The constant change in dietary habits and consumer behavior are bolstering the growth of the global market. The increasing trend to buy confectionery products that are made with natural ingredients is predicted to complement product sales growth. The rising preference for healthier food options that come with natural ingredients has led to noticeable product demand across regions.
Key Takeaways from Market Study
- Sales of confectioneries are expected to reach US$ 474 billion by 2033.
- The Canada market is likely to progress at a CAGR of 4.1% through 2033.
- The valuation of the confectioneries industry is US$ 301 billion for the year 2023.
- Consumption of confectioneries is likely to increase at a CAGR of 4.6% through 2033.
- Europe held more than 35% market share in the year 2022.
Competitive Landscape
Several suppliers and manufacturers are concentrating on logistic development. They are also focusing on strengthening their distribution channels to expand their business.
For instance :
- Mondelez International Inc. in the year 2020 patented a process that can enable the company to reduce the level of sugar in its chocolates with the use of soluble corn fiber.
Key Companies Profiled
- Lindt & Sprungli
- Lotte Confectionery
- Mars Wrigley
- Mondelez International
- Nestle SA
- Perfetti Van MelleSpA
- The Hershey Company
- Pladis
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Winning Strategy
Manufacturers are providing various confectionery products, including ice cream, cookies, marshmallows, toffees, gum & sweets, and other products. Furthermore, growing investments by prominent players in social media marketing, promotional activities, and advertising campaigns are accelerating growth avenues in the market.
Government guidelines in different countries, including India, China, the U.K., Germany, and the U.S. will ensure the quality of products. Further, published federal rules and guidelines for products to match hygienic standards are also predicted to contribute to market growth.
Segmentation of Confectioneries Industry Research
- By Type :
- Chocolates
- Sugar Confectioneries
- Cookies
- Ice Cream
- By Distribution Channel :
- Offline
- Online
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global confectioneries market for the period of 2023-2033.
The study divulges essential insights into the market on the basis of type (chocolates, sugar confectioneries, cookies, ice cream) and distribution channel (offline, online), across five major regions (North America, Europe, Asia Pacific, Latin America, and MEA).
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
2.3. Inclusions/Exclusions
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Type modifications /Innovation
4. Key Success Factors
4.1. Strategic Developments
4.2. Key regulations
5. Market Background
5.1. Macro-Economic Factors
5.2. Forecast Factors - Relevance & Impact
6. COVID19 Crisis Analysis
6.1. Current COVID19 Statistics and Probable Future Impact
6.2. Current GDP Projection and Probable Impact
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About Fact.MR
Fact.MR is a market research and consulting agency with deep expertise in emerging market intelligence. Spanning a wide range – from automotive & industry 4.0 to healthcare, technology, chemical and materials, to even the most niche categories. We are committed to deliver insights that help businesses gain deeper understanding of their target markets. We understand that making sense of the vast labyrinth of data can be overwhelming for businesses. That’s why focus on offering insights that can actually make a difference to bottom-lines.
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