Global Confectionery Market By Type (Chocolate, Sugar Candy & Gum Candy), By Distribution Channel (Supermarkets/Hypermarket, Independent Grocery Stores, Convenience Stores/Forecourt Retailers, Departmental Store, Non-Store Retailing (Online Store)), By Region, Competition Forecast & Opportunities, 2016-2026F

Published on: 2024-10-28 | No of Pages : 320 | Industry : Consumer Goods and Retail

Publisher : MIR | Format : PDF&Excel

Global Confectionery Market By Type (Chocolate, Sugar Candy & Gum Candy), By Distribution Channel (Supermarkets/Hypermarket, Independent Grocery Stores, Convenience Stores/Forecourt Retailers, Departmental Store, Non-Store Retailing (Online Store)), By Region, Competition Forecast & Opportunities, 2016-2026F

The global confectionery market is projected to grow at a CAGR of 4.85% during 2021-2026F to reach USD244.25 billion by 2026F on account of increasing demand for ready-to-eat products, as well as changing tastes and preferences of consumers while choosing the products. The manufacturers are increasing the variety of products to meet the changing market demands by adding ingredients such as tropical fruits, nuts and organic herbal fillings and exotic flavors in product formulations. Moreover, factors such as rising population, emerging premium confectionery segments, and entry of various players are further fueling the confectionery market at the global level.

People like to celebrate festivals by gifting sweets. Moreover, today’s generation prefers sugar-free chocolates or organic candies/chocolates over those unhealthy sweets. The confectionery industry is one of the synchronized and well-developed sectors among other sectors in the world and has become an attractive destination for investments and several large multinational companies are entering this market.

Consumption of chocolates led to increasing health issues such as weight gain, diabetes, and dental problems caused because of high sugar intakes.

The global confectionery market can be segregated into type, distribution channel and region. In terms of type, the global confectionery market is divided into chocolate, sugar candy and gum candy. Out of which, the chocolate segment is dominating the global confectionery market due to the continuous launch of innovative products supported by aggressive branding. The adoption of premium chocolates and candies as gifts on festivals and functions is also growing considerably at the global level. In terms of distribution channel, the global confectionery market is divided into supermarkets/hypermarkets, independent grocery retailers, convenience retailers/forecourt retailers, departmental retailers and non-store retailing (online retailers)

Mondelez International, Mars, Incorporated, Ferrero Group, Nestle S.A., The Hershey Company, and others are the companies operating in the confectionery market. A European company, Mars Incorporated, is leading the confectionery market around the globe. Mars, Incorporated has a primary target audience for all the business segments, and targets people of all age groups, from the lower class to upper-middle class. Mars has a robust distribution channel throughout the world because it has many manufacturing units located around the globe. In March 2021, Mars Wrigley and Danimer Scientific, a leading developer and manufacturer of biodegradable material, announced a two-year partnership to develop an innovative home compostable packaging for a more sustainable planet.

Years considered for this report

Historical Years2016-2019

Base Year2020

Estimated Year2021E

Forecast Period2022F–2026F

Objective of the Study

To analyze the historical growth in the market size of the global confectionery market from 2016 to 2020.
To estimate and forecast the market size of the global confectionery market from 2021 to 2026F and growth rate until 2026F.
To classify and forecast the global confectionery market based on type, distribution channel, company, and region.
To identify the dominant region or segment in the global confectionery market.
To identify drivers and challenges for the global confectionery market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in the global confectionery market.
To conduct pricing analysis for the global confectionery market.
To identify and analyze the profile of leading players operating in the global confectionery market.
To identify key sustainable strategies adopted by market players in the global confectionery market.

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marketinsights Research performed both primary as well as exhaustive secondary research for this study. Initially, marketinsights Research sourced a list of manufacturers across the globe. Subsequently, marketinsights Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, marketinsights Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. marketinsights Research analyzed the manufacturers, distribution channels, and presence of all major players across the country.

marketinsights Research calculated the market size of the global confectionery market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. marketinsights Research sourced these values from the industry experts and company representatives and externally validated them by analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations, and financial reports were also studied by marketinsights Research.

Key Target Audience

Manufacturers, distributors, and end-users
Market research and consulting firms
Government bodies such as regulating authorities and policymakers
Organizations, forums, and alliances related to confectionery

The study is useful in providing answers to several critical questions that are important for industry stakeholders such as manufacturers, end-users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.

Report Scope

In this report, the global confectionery market has been segmented into the following categories, in addition to the industry trends which have also been detailed below