Pune India, Dec. 16, 2022 (GLOBE NEWSWIRE) -- The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and Middle East and Africa. These are the key regions where the Confectionery market is operating currently and is predicted to expand in the near future. The manufacturers and suppliers involved in the confectionery market is present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as the product type, distribution channel, and region. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global Confectionery market are Mondelez International, Inc., Nestlé S.A., Perfetti Van Melle, Meiji Co., Ltd., The Hershey Company, Ferrero Group, Mars, Incorporated, Pladis, Chocoladefabriken Lindt & Sprüngli AG, Ezaki Glico Co., Ltd., Haribo GmbH & Co. K.G., Grupo Arcor among others. To achieve a substantial market share in the worldwide Confectionery market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Confectionery is the craft of making confections, which are heavy in sugar and carbs. Definitions are difficult to nail down. Bakers' confections and sugar confections are the two main, overlapping categories into which confectionery is frequently classified. Confectioner jobs include the forms of food performed by both the confiseur and the French patissier (sugar worker). Sweet pastries, cakes, and other baked goods are the principal components of bakers' confectionery, often known as flour confections. Baker's sweets are a subcategory of baked products that do not include normal breads. Sugar confectionery includes candy (also known as sweets, which is short for sweetmeats in many English-speaking countries), candied nuts, chocolates, chewing gum, bubble gum, pastillage, and other sugar-based confections. Sugar-free varieties of sugar confections, as well as chocolate confections (confections made with chocolate), are sometimes categorised as separate categories. The words candy (in Canada and the United States), sweets (in the United Kingdom, Ireland, and other countries), and lollies (in Australia and New Zealand) are widely used to describe some of the most well-known forms of sugar confectionery. In addition, the confectionery sector has extensive historical records and specialised training programmes. Traditional sweets have been consumed since antiquity and have survived into the modern day via the Middle Ages.
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Scope of Confectionery market Report
| Report Metric | Information |
| Study Period | 2021-2029 |
| Base Year | 2021 |
| Forecast Period | 2022-2029 |
| Market Share Unit | USD Billion |
| Segments Covered | Product Type, Distribution Channels, and Regions |
| Regions Covered | North America, Europe, Asia-Pacific, South America and Middle-East and Africa |
| Major Players | Mondelez International, Inc., Nestlé S.A., Perfetti Van Melle, Meiji Co., Ltd., The Hershey Company, Ferrero Group, Mars, Incorporated, Pladis, Chocoladefabriken Lindt & Sprüngli AG, Ezaki Glico Co., Ltd., Haribo GmbH & Co. K.G., Grupo Arcor among others. |
Segmentation Analysis
Chocolate segment is expected to be the fastest-growing segment in 2021.
The product type segment is chocolate, cookies, ice cream, and sugar confectionery. The chocolate segment is expected to witness the highest growth rate during the forecast period. Growing consumer demand for chocolate goods across all age groups to quench their taste senses is accelerating market expansion. Furthermore, when compared to other things marketed globally, chocolate is the confectionary that people consume the most per capita. Furthermore, due to rising consumer demand for organic and premium chocolate products, the market is likely to grow throughout the forecast period.
The offline segment is expected to be the fastest-growing segment in 2021.
The distribution channels segment includes offline and online. The offline segment is expected to witness the highest growth rate during the forecast period. Consumers are increasingly choosing offline channels to acquire consumer products, groceries, confectionery items such as chocolate, and other items where they can personally verify the product quality. Additionally, the segment's growth is expected to be supported by consumers' ease of access to and browsing of a variety of confectionery products at stores. Due to increased consumer demand for chocolate, manufacturers are also opening new outlets in malls, which will aid in the development of the offline segment in the future years.
Regional Analysis
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for the confectionery include US, Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa and Saudi Arabia.
- The Europe region witnessed a major share. The majority of European countries, including Switzerland, Sweden, France, Italy, and the Netherlands, have the highest per capita consumption of sweets. The growing public awareness of the detrimental implications of chemically generated raw materials used in the making of chocolates has also increased demand for organic chocolates in the area. The European confectionery market is expected to be primarily driven by the population's increased demand for organic chocolate during the forecast period.
Country Analysis
- Germany
Germany's confectionery market size was valued at USD 31.92 billion in 2021 and is expected to reach USD 44.36 billion by 2029, at a CAGR of 4.2% from 2022 to 2029. On the German chocolate market, you can get white chocolates and black chocolates. Growing consumer awareness of the health benefits of chocolate flavouring components due to the presence of flavonoids which is a crucial element driving the German chocolate market. Furthermore, many chocolate varieties include high levels of fibre, iron, magnesium, copper, and manganese. Furthermore, the increased popularity of pancakes, doughnuts, and chocolate biscuits has benefited the German chocolate industry significantly.
- China
China’s confectionery market size was valued at USD 28.29 billion in 2021 and is expected to reach USD 38.12 billion by 2029, at a CAGR of 3.8% from 2022 to 2029. The increased popularity of sugar-free confections as a result of rising health concerns about cardiovascular diseases, obesity, and diabetes is also driving demand for the product. Furthermore, the development of confectionery items with clean labelling, no animal testing, vegetarianism, organic farming, and sustainably produced ingredients is driving market growth. The China confectionery market is expected to be pushed by a number of other factors in the near future, including continued improvements in ambient storage conditions and the development of anti-microbial packaging technologies.
- India
India's confectionery market size was valued at USD 23.52 billion in 2021 and is expected to reach USD 30.26 billion by 2029, at a CAGR of 3.2% from 2022 to 2029. The rising tradition of presenting confectionary products as gifts, particularly during holidays or special events such as birthdays, anniversaries, social gatherings, and so on, is driving the Indian confectionery sector. Improving rates of urbanisation, rising consumer living levels, and rising demand for imported chocolates and sweets are all key factors driving up confectionery sales in the country. Furthermore, a number of major corporations are launching limited-edition, high-end confectionery items filled with exceptional nuts, grains, and cereals.
Covid-19 Impact
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the developing food and beverage industry.
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