Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "LAMEA Confectionery Market Size, Share & Industry Trends Analysis Report By Distribution Channel (Offline, and Online), By Product Type, By Country and Growth Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The latest market analysis report on the LAMEA Confectionery industry is now available, providing a comprehensive outlook on the market size, share, and emerging trends. With a projected Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period of 2023-2030, the industry is set to undergo significant evolution fueled by a variety of factors.
In particular, the Brazil market leads the LAMEA region, anticipating a dominant stance throughout the forecast period with an expectant market value of $8,636.8 million by 2030. Argentina and the UAE follow the lead with CAGRs of 7.4% and 6.5% respectively, reflecting the growing appetite for confectionery products across the area.
Diverse Product Offerings Propel Market Expansion
The market is categorized into an array of product types including Chocolate (spanning Milk, Dark, and White varieties), Mints, Medicated Confectionery, Hard-boiled Sweets, Gums & Jellies, Caramels & Toffees, and Fine Bakery Wares. This variety meets a broad range of consumer preferences, contributing to the overall market growth.
Channel Insights: Offline and Online Segments
The distribution channel analysis distinguishes between Offline and Online avenues, presenting insights that stakeholders can leverage to strategize their distribution and sales channels effectively. The Offline segment, which includes brick-and-mortar stores, has traditionally held a significant market share in the confectionery industry. However, the Online segment is growing rapidly, indicating changing consumer purchasing behaviors facilitated by digital platforms.
Regional Market Dynamics
The report analyses major countries within the LAMEA region, focusing on Brazil, Argentina, UAE, Saudi Arabia, South Africa, and Nigeria to offer stakeholders a thorough understanding of nation-specific trends and opportunities.
Key Market Players Steering Growth
Strategic moves by major players in the confectionery market are highlighted, including notable names such as Mars, Inc., Nestle S.A, and Mondelez International, Inc. Their role in shaping the market landscape through product innovation, mergers, and acquisitions is critical to understanding the competitive dynamics within the industry.
The analysis emphasizes market growth drivers such as rising disposable income levels, the burgeoning middle class in Latin America, and increased consumer preference for premium chocolate. Seasonal demand, particularly during festivals like Christmas and New Year's, is emphasized as a significant factor influencing sales.
This report stands out with its exhaustive coverage of the LAMEA Confectionery Market, including detailed breakdowns of market segments and country-specific analysis. It aims to guide investors, businesses, product manufacturers, marketing strategists, and all other market participants, supporting informed decision-making processes to capitalize on the market's growth potential.
Emerging Trends and Future Market Prospects
- Increasing middle-class population in Latin America driving confectionery demand.
- Growth in premium chocolate sales bolstered by seasonal and festive demands.
- Expansion of the online retail space opening up new avenues for market growth.
The presented insights are anticipated to facilitate businesses to align their market strategies with the upcoming trends and leverage the full potential of the expansive LAMEA Confectionery Market from 2023 to 2030.
Companies Mentioned
- Mars, Inc.
- Nestle S.A
- Mondelez International, Inc.
- Ferrero Group
- Lindt & Sprungli AG
- The Hershey Company (Hershey Trust Company)
- Meiji Holdings Co., Ltd.
- Lotte Corporation
- Delfi Limited
- Ezaki Glico Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/xgexon
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