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
New York, June 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Confectionery Market, By Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2016-2026F" - https://www.reportlinker.com/p06089417/?utm_source=GNW
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.Therefore, consumers are shifting towards organic chocolates and candies.
Organic products open opportunities for the confectionery sector.Organic chocolate is created using cocoa beans that have not been treated with synthetic fertilizers, herbicides, or pesticides.
The reinforced efforts from manufactures to meet the demand for organic chocolates and candies in the market is expected to grow in the global confectionery market over the coming years.
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 stores, convenience stores/forecourt retailers, departmental stores and non-store retailing (online stores). Among which, supermarkets/hypermarkets held a major market share of around 26% in 2020 in the global confectionery market.
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 Years: 2016-2019
Base Year: 2020
Estimated Year: 2021E
Forecast Period: 2022F–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.
The analyst performed both primary as well as exhaustive secondary research for this study.Initially, the analyst sourced a list of manufacturers across the globe.
Subsequently, the analyst conducted primary research surveys with the identified companies.While interviewing, the respondents were also enquired about their competitors.
Through this technique, the analyst was able to include the manufacturers which could not be identified due to the limitations of secondary research. The analyst examined the manufacturers, distribution channels, and presence of all major players across the country.
The analyst 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. The analyst 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 the analyst.
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.
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:
• Global Confectionery Market, By Type:
o Sugar Candy
o Gum Candy
• Global Confectionery Market, By Distribution Channel:
o Independent Grocery Stores
o Convenience Stores/Forecourt Retailers
o Departmental Store
o Non-Store Retailing (Online Store)
• Global Confectionery Market, By Region:
o North America
o Asia Pacific
o South America
o Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in the global confectionery market.
With the given market data, we offers customizations according to a company’s specific needs. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089417/?utm_source=GNW
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