Pune, India, March 02, 2021 (GLOBE NEWSWIRE) -- The global confectionery market size is projected to reach USD 245.28 billion by 2026, registering a CAGR of 3.23% during the forecast period. Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2019 – 2026”. According to the confectionery market report, the value of this market stood at USD 190.77 billion in 2018.
Manufactured chocolate bars and candies are known to contain large amounts of artificial sweeteners. With the increasing prevalence of lifestyle-related disorders, even the most ardent chocolate-lovers are getting increasingly inclined towards organic and natural ingredients-based products. For example, the Swiss chocolate maker Barry Callebaut’s research found that the market value for organic chocolates currently stands at €30 million in Western Europe alone. This figure shows that the shifting consumer preference for chocolate and other confectionery items made from naturally-derived extracts will lead to the confectionery market trends in the foreseeable future.
Key Drivers & Restraints-
Hectic Lifestyles to Foster Sales Opportunities
Global economic growth and development have led to an explosion of job and business opportunities. Greater access to education and skill development have expanded the number of employable people around the world, resulting in more working people and more office spaces, especially in large urban conglomerations. As a result, modern lifestyles have become more hectic and stressful, with the unfortunate consequence being on the health and fitness of people. Therefore, many consumers are now demanding on-the-go confectionery snacks, preferably having low sugar and fat. Chocolate, owing to its numerous health benefits, is the most consumed confectionery product in the world, and many companies are now developing sugar-free and organic chocolate items to cater to the health-conscious urban populace.
Furthermore, chocolate consumption has positive physiological effects. The Loma Linda University Adventist Health Sciences Center in California found, through a research study, suggested that chocolate consumption positively impacts brain health and reduces stress and inflammation.
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List of the Top Companies Operating in the Confectionery Market are:
Fortune Business Insights lists out some of the significant organizations operating in the Confectionery Market.
They are as follows:
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
With a market share of 39% in 2018, Europe is slated to dominate the confectionery market share in the coming years, primarily on account of high consumption chocolate items. Consumers are increasingly demanding premium and customized confectionery products and are willing to pay for such items, prompting companies to manufacture and deliver superior offerings in the region.
Asia-Pacific holds tremendous growth opportunities for this market owing to rising disposable income, increasing young and working-age population, and rapid urbanization. As a result, many players are implementing different strategies to establish themselves in the Asia-Pacific region, especially China and India.
The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market and what are their key strategies?
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The confectionery market forecast envisages a period of cutthroat competition in this market as companies deploy various strategies to meet the escalating demand for organic confectionery items. Besides this, many players are also attempting to broaden their business horizons by introducing novel offerings in foreign markets.
Browse Summary of This Research Insights with Detailed TOC:
https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Emerging Trends
- Key Insights
- Overview on Related/Parent Market
- Global Chocolate Consumption Trend
- Global Cocoa Production Trend
- Supply Chain Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Mergers & Acquisitions, Expansions, Partnerships, and
- Investments
- Global Confectionery Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Chocolate
- Sugar
- Gums
- By Distribution Channel
- Hypermarket/Supermarket
- Convenience Stores
- Departmental Stores
- Online Retail
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
- Overview on Related/Parent Market
TOC Continued…!
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Some of the key Industry Developments of the Spices and Seasonings Market include:
August 2016: Ajinomoto Co., a food and biotechnology corporation based in Japan, announced that it would invest USD 23.1 Million to meet the increasing demand for flavor seasonings in Thailand. The company will advance its production capacity for Ros Dee, its flavor seasoning in the Kingdom of Thailand. As per the company, the flavor seasoning market in the country has increased by approximately 1.3 times for the past five years to around 70,000 tons in 2015. It is anticipated to grow in the upcoming years owing to the rising usage of seasonings at houses, food stalls, and restaurants.
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