Confectionery Market: Strategy by Key Players, Risk Assessment, COVID19 Impact Analysis, and Industry Projections

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Confectionery Market

Global Confectionery Market size was valued at $184,056 million in 2015, and is expected to reach $232,085 million by 2022, supported by a CAGR of 3.4% during the forecast period 2016 – 2022.

Confectionery market comprises array of food products such as chocolates, raw pastes, and various sugar-based products. In addition, it includes therapeutic and dietetic confectioneries that differ in formulations from traditional confections. The preferred type of confectioneries often differ according to the geographical regions due to difference in regulatory norms and other factors such as economy and taste & preference of customers. The global confectionery market is growing at a steady pace owing to high demand from middle-class consumers.

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Growth in health awareness and fluctuation in cost & availability of raw materials such as cocoa products are some of the factors that hinder the growth of the confectionery market. However, rise in demand for sugar-free, low-calorie, and organic products boosts the market expansion.

Europe and Asia-Pacific collectively contributed more than half of the share to the global confectionery market revenue in 2015. In the same year, Europe dominated the market, owing to the product innovation in terms of textures, flavors, shapes, and pack sizes.

The prominent market players profiled in the report include Delfi Limited (Singapore), Ezaki Glico Co., Ltd. (Japan), Ferrero SpA (Italy), Lindt & Sprngli AG (Switzerland), Lotte Confectionery Co. Ltd. (South Korea), Mars, Incorporated (U.S.), Mondelez International, Inc. (U.S.), Nestl S.A. (Switzerland), The Hershey Company (U.S.), and Wm. Wrigley Jr. Company (U.S.).

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Key Findings of Confectionery Market :

  • Europe is expected to continue to lead the market during the forecast period, followed by Asia-Pacific region.
  • Dark chocolate is expected to show highest growth rate in chocolate confectionery market, registering a CAGR of 4.3%.
  • Mints is projected to significant growth, registering a CAGR of 3.6%.
  • Brazil accounted for 35.27% share in the LAMEA confectionery market in 2015.
  • India is expected to grow at a faster rate, registering a CAGR of 4.6%.
  • Italy accounted for 7.33% share in 2015.

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