- Size, Trend, Share, Opportunity Analysis, and Forecast, 2016-2022
Progressive Markets published a report, Confectionery Industry - Size, Trend, Share, Opportunity Analysis & Forecast, 2016-2022, which says that the market was valued at $303.4 million in 2016 and is expected to reach $232,085 million by 2022, growing at a CAGR of 3.4% during the forecast period 2016-2022.
Confectionery refers to the food products which are made of raw materials such as sugar, sucrose, cocoa products, flour, food additives and more. They are high in calorie and low in nutrients. Confectionaries can be classified into two types namely sugar confectionery and bakers confectionery. Sugar confectionery includes sweets/candies, chocolates, caramels, and gums while bakers confectionery includes pastries, cookies, cakes and others. The preferred type of confectioneries often varies according to the geographical locations because of the difference in regulatory norms and other factors such as economy and taste of consumers.
Market Drivers and Restraints:
The confectionery market report analyzes the drivers and restraints that impact the growth of the industry. Product innovation, the increased trend of gifting confectionery products, growing retail market, hectic lifestyle, the rise in disposable income in the developing economies such as India and China, and economic growth support the growth of the confectionery market. Manufacturers are bringing innovative products by including organic herbal fillings, exotic flavors, and functional ingredients to confectionaries to cater to the varying demands of consumers. On the other hand, there are several challenges faced by the industry that hamper the market growth. They include fluctuation in prices of raw materials, growing health awareness about sugar intake among people, and diverse consumer spending habits.
The report analyzes the confectionary industry based on its segmentation. The market is divided on the basis of its type and geography. Based on type, the industry is divided into sugar, chocolate, fine bakery wares, and others. Geographically, the industry analysis has been carried out for the regions such as North America, Europe, Asia-Pacific, and LAMEA.
Key Market Players:
The report includes details of some of the leading manufacturers in the confectionery industry. They include Lindt & Sprngli AG (Switzerland), Ezaki Glico Co., Ltd. (Japan), Ferrero SpA (Italy), Delfi Limited (Singapore), 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.).
Key Benefits from the Report:
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