The report identifies and discusses recent developments in sugar confectioneries across the globe. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the COVID effect on the industry.
The major market drivers are the rise in disposable income & an increase in the population in emerging countries. The market of sugar confectionery in the period of 2015-2020 grew at a rate of 3.65%. With the changes in consumer preferences over time, the players have been actively involved in the introduction of different variants like low calorie and fiber-rich. Also, there has been a significant incline in the investments directed towards the promotional activities, point of purchase advertising campaigns & and social media marketing has been an added advantage to the industry growth.
Through the forecasted period, the market is expected to reach a value of more than USD 65 Billion which is to be backed by the increasing urbanization which brought in lifestyle change. On the other hand, the incline in the health consciousness among the youngsters and the increasing diabetes traces in the early ages are the major market hampering factors.
Classified on the product type, the chewy confectionery segment is highly common, and thus leading the market with a value share of 37.99% in the year 2015. Without a doubt, diabetes is one of the fastest-growing health challenges of the 21st century, which is also a root cause of different health issues. This is much likely to push the sugar-free segment in the coming years which is to make it the fastest-growing segment in the forecasted period. Through the forecasted period, the sugar-free segment is expected to be growing at an anticipated growth rate of 6.34%. However, the plain mint segment and caramel/ toffee segment in the year 2026 together is expected to hold a share of little more than 6%.
By terms of age group, the market is led by the adult age group segment which held slightly lower than 50% of the market share. Globally, this segment has been showing a marginal incline over the period and also is to be the fastest-growing segment in the forecasted period. Following this, the geriatric age group segment had shown a considerable incline in the market in the historic period, but through the forecasted period, it is to be showing a decline in the share and reach to 9.49% share.
By sales channel, the market is dominated by the convenience stores segment, which held nearly 40% of the market in the year 2015. Followed by this, was the supermarket/ hypermarket segment, which triggers the impulsive purchase decision of the customer through strategic placing. However, through the forecasted period, the e-commerce sales channel is expected to gain popularity given the number of internet portals coming up. The segment is expected to be growing at an anticipated CAGR of 6.88%, backed by the growing preference towards the number of discounts.
In terms of region, Europe held to a high share in the year 2015, which was at 40%, given its high production capacity, already established dominance in the chocolate segment. However, on the other hand, with the increasing population and the spending ability, the Asia Pacific region is expected to become a promising potential market in the coming period. The increasing online shopping and rising social media campaigns in the region support the growth. In the year 2026, the Latin America market, along with the Middle East & Africa market is expected to contribute to a share of less than 10%.
The leading companies are focusing on improvising their global position by enhancing their product line and through mergers & acquisitions. Understanding the changes in lifestyles, companies are now innovating and introducing new products to cater to the customers' growing needs.
Base year: 2020
Historical year: 2015
Forecasted year: 2026
Global Market Size By Value for the time period (2015-2026F)
Regional Market Size By Value for the time period (2015-2026F)
Country Wise Market Size By Value for the time period (2015-2026F)
Market Share by Product Type (Hard Boiled Sweets, Plain Mints, Caramel/ Toffee, Chewy, Novelty, Licorice, Sugar-free, Others) By Value
Market Share by Age Group (Children (1-20 Age), Adult (20-55) & Geriatric (55 and above)) By Value
Market Share by Sales Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, E-commerce & Others) By Value
Market Share by Region
Market Share by Country
Market Share by Company
This report would help you answer the following questions:
1. What is the market size and forecast of the Sugar Confectionery Market?
2. What are the inhibiting factors and impact of COVID-19 shaping the Sugar Confectionery Market during the forecast period?
3. Which region outstands in the Sugar Confectionery Market?
4. Which are the segments to invest in over the forecast period in the Sugar Confectionery Market?
5. What is the competitive strategic window for opportunities in the Sugar Confectionery Market?
6. What are the technology trends and regulatory frameworks in the Sugar Confectionery Market?
7. Who are the major companies in the Sugar Confectionery Market?
Haribo GmbH & Co. KG
Lindt & Sprungli AG
Meiji Holdings Co. Ltd.
Perfetti Van Melle
The Hershey Company
For more information about this report visit https://www.researchandmarkets.com/r/mljwzb
View source version on businesswire.com: https://www.businesswire.com/news/home/20211201005560/en/
Laura Wood, Senior Press Manager
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