(MENAFN- Verified Market Research) ConfectioneryMarket Size And Forecast
ConfectioneryMarket was valued at USD 210 Billion in 2019 and is projected to reach USD 269.5 Billion by 2027, growing at a CAGRof 3.55% from2020 to 2027.
RisingEmergence of On-the-go Snacks Assures the expansion of the world ConfectioneryMarket. Increasing modernization and a busy combination of skilled &personal obligations area unit a number of the most important factorstriggering the demand for convenience snacks as a part of the daily diet. TheGlobal Confectionery Market report provides a holistic evaluation of themarket. The report offers a comprehensive analysis of key segments, trends,drivers, restraints, competitive landscape, and factors that are playing asubstantial role in the market.
GlobalConfectionery Market Definition
Consumerhabits, tastes, and preferences are unit perpetually evolving. This has ajunction rectifier to innovation within the field of confectionery that drivesthe market growth. Maker’s area unit increasing their product vary by togetherwith useful ingredients, organic seasoning fillings, tropical fruit, andnut-based & exotic flavors in product formulations to fulfill ever-changingclient demands.
Moreover,the trend of gifting confectionery products, like cookies, chocolates, workthings, and others have enabled to propel the market growth within recentyears. Brands area unit perpetually establishing distinctive participatingtechniques to hunt client attention as confectionery product area unitconsiderably purchased as a result of impulse shopping for. These factors havecumulatively enabled to drive the marketplace for confectionery products.
Get | DownloadSample Report @
GlobalConfectionery Market Overview
RisingEmergence of On-the-go Snacks Assures the expansion of world ConfectioneryMarket Increasing modernization and a busy combination of skilled &personal obligations area unit a number of the most important factorstriggering the demand for convenience snacks as a part of the daily diet. Thebusy lifetime of customers disallows them to pay time on change of state anddine-out throughout their operating hours that leads customers to appear for astraightforward and fast-to-eat food product.
Thequantity of customers within the geographical point is increasing today andit’s turning into even more durable to keep up a healthy work-life balance forthem. Thus, makers and marketers area unit intensively capitalizing tointroduce and promote a variety of chocolate snacks like on-the-go snacks,chocolate candy, et al. to supply a healthy diet to customers.
Fluctuationswithin the worth of Raw Materials to Disrupt Demand-Supply Balance within theMarket: Cocoa and sugar area unit vital raw materials that area unit majorlyutilized for the assembly of confectioneries across the world. The value ofsugar and cocoa has witnessed fluctuations within the past few years as theirproduction and demand vary fleetly within the international marketplace. Thecocoa and sugar yields get affected thanks to unfavorable weather, cropdiseases, labor handiness, stock ratios, and different economic factors thathamper the sleek flow of their demand and provide within the market.
Asa result, the common annual worth of the raw materials fluctuates from low tohigh and ends up in excess or stock to provide confectionery products withinthe market. Hence, worth fluctuations of raw materials area unit expected todampen the general market within the future years. However, the volatile natureof staple costs of sugar and cocoa will hamper the expansion of the market.
In2019, the chocolate section accounted for the very best Confectionery Marketshare. Confections sit down with food things that area unit wealthy in sugarand carbohydrates. It includes a good vary of products like chocolates,cookies, bars, gummies, mints, and others. Confectionery product sits down withproduct that area unit wealthy in sugar or similar sweeteners. These embracechocolates and non-chocolate candy-like gum, ice cream, and frozen desserts,sweet food like cookies, cakes, and pastries, and different sweet product likejams, jellies, and preserves. There’s a massive assortment of confectioneryproducts globally and area units are majorly categorized as chocolateconfectionery and sugar confectionery.
GlobalConfectionery Market Segmentation Analysis
TheGlobal Confectionery Market is Segmented on the basis of Product Type, AgeGroup, Price Point, Distribution Channel, And Geography.
Ask For ReportDetails @
ConfectioneryMarket, By Product Type
•Hard-boiled Sweets
• Mints
• Gums & Jellies
• Chocolate
• Caramels and Toffees
• Medicated Confectionery
• Fine Bakery Wares
• Others
Basedon the Product Type Hard-boiled Sweets, Mints, Gums & Jellies, Chocolate,Caramels and Toffees, Medicated Confectionery, Fine Bakery Wares, Others kind,Based on Product Type the chocolate section is presently leading the worldwidemarketplace for confectionery. Increasing Demand for Chocolates to help theConfectionery business Growth. This may be attributed to the growing quality ofpure chocolates and also the increasing expenditure of customers to satisfytheir palates as all age teams consume chocolates or gums. Meanwhile, theever-increasing demand for dark premium chocolates is anticipated to growconsiderably within the forecast amount, thus, aiding the market growth.
ConfectioneryMarket, By Age Group
•Children
• Adult
• Geriatric
Basedon the Age Group, the market is segmented into Children, Adults, Geriatric.
ConfectioneryMarket, By Price Point
•Economy
• Mid-Range
• Luxury
Basedon the Price Point, the market is segmented into Economy, Mid-Range, Luxury.
ConfectioneryMarket, By Distribution Channel
•Supermarket/Hypermarket
• Convenience Stores
• Pharmaceutical & Drug Stores
• Food Services
• Duty-free Outlets
• E-commerce
• Others
Basedon Distribution Channel, the market is segmented into Supermarket/Hypermarket,Convenience Stores, Pharmaceutical & Drug Stores, Food Services, Duty-freeOutlets, E-commerce, Others.
ConfectioneryMarket, By Geography
•North America
• Europe
• Asia Pacific
• Rest of the world
Onthe basis of Geography, the Global Confectionery Market is classified into NorthAmerica, Europe, Asia Pacific, and the Rest of the world. Europe toconsiderably boost the Confectionery business. Geographically, Europe accountsfor a serious share within the confectionery business because of thepredominance of the chocolate business within the region and also the risingtrend of gifting confectionery products. Meanwhile, the Asia Pacific region isforeseen to witness a sturdy growth over the forecast amount because of theincreasing penetration of confectionery products and also the rising demand forpackaged food products within the region. Several rising economies like Chinaand Asian country area unit have foreseen to grow significantly within thereturning year’s thanks to the increasing client disposable incomes and alsothe speedily growing population across the regions.
KeyPlayers In Confectionery Market
The“Global Confectionery Market ” study report will provide valuable insight withan emphasis on the global market. The major players in the market are The Hershey Company, Ferrero SpA,Mars, Incorporated, Nestlé SA, Chocoladefabriken Lindt & Sprüngli atomicnumber 47, Mondelez International, Inc.
For More Information @
About us –
Verified Market Research is a leading Global Research and Consulting firmthat has been providing advanced analytical research solutions, customconsulting and in-depth data analysis for 10+ years to individuals andcompanies alike that are looking for accurate, reliable and up to date researchdata and technical consulting. VMR offers insights into strategic and growthanalyses, Data necessary to achieve corporate goals and help make criticalrevenue decisions.
Ourresearch studies help our clients make superior data-driven decisions,understand market forecasts, capitalize on future opportunities and optimizeefficiency by working as their partner to deliver accurate and valuableinformation. The industries we cover span over a large spectrum includingTechnology, Chemicals, Manufacturing, Energy, Food and Beverages, Automotive,Robotics, Packaging, Construction, Mining & Gas. Etc.
We, atVerified Market Research assist in understanding holistic market indicatingfactors and most current and future market trends. Our analysts, with theirhigh expertise in data gathering and governance, utilize industry techniques tocollate and examine data at all stages. They are trained to combine modern datacollection techniques, superior research methodology, subject expertise andyears of collective experience to produce informative and accurate research.
Havingserviced over 5000+ clients, we have provided reliable market research servicesto more than 100 Global Fortune 500 companies such as Amazon, Dell, IBM, Shell,Exxon Mobil, General Electric, Siemens, Microsoft, Sony and Hitachi. We haveco-consulted with some of the world’s leading consulting firms like McKinsey& Company, Boston Consulting Group, Bain and Company for custom researchand consulting projects for businesses worldwide.
Contactus:
Mr.Edwyne Fernandes
VerifiedMarket Research
US: +1(650)-781-4080
UK: +44(753)-715-0008
APAC:+61 (488)-85-9400
USToll-Free: +1 (800)-782-1768
Website:-
Email:sales@verifiedmarketresearch.com
Try Our New Dashboard :- dashboard/?utm_source=Free&utm_medium=004
MENAFN03062021004427010837ID1102205467
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.