The rising consumption of sugar filled goodies across the various different age groups owing to its pleasant sweet taste and a plethora of different flavour combinations, coupled with its organoleptic properties, are considered to be the key reasons for their popularity amongst consumers across the board, and the same are a great contributor towards the market growth.
Additionally, there is a rising trend of gifting confectionery items on special occasions such as birthdays and anniversaries, which is boosting the growth of the sugar confectionery market.
Key players in the market are putting special emphasis on promotional activities, advertising campaigns, and social media marketing to expand their horizon and gain a competitive advantage in the market. Furthermore, these players are making notable efforts to enter developing nations in order to exploit the lucrative market opportunities that are surfacing here. The innovation of new products, as a result of the constantly emerging technologies, and continuous research and efforts made in this field, with new flavour profiles and newer ingredients, is adding fuel to the growth of the market.
Even though the North American market was previously leading the Sugar Confectionery Market, with U.S.A. being the major contributor to the growth of sugar confectionery market in North America, Asia Pacific has quickly taken over the leading spot. With lucrative business growth, owing to the involvement of confectioneries in their various traditional customs, a constantly growing younger population, the rising disposable income of consumers, and more available variety, the Asia Pacific region is projected to witness a steady growth throughout the forecast period. In the region of Asia Pacific, the countries of India and China especially, are the ones that are predicted to lead the Sugar Confectionery Market during the forecast period.
Sugar Confectionery Market Value Share Analysis, by Geography (2022)
The report titled “Sugar Confectionery Market - Global Market Share, Trends, Analysis and Forecasts, 2023-2032”, wherein 2021 is historic period, 2022 is the base year, and 2023 to 2032 is forecast period. Additionally, the study takes into consideration the competitive landscape, wherein the report would provide company overview and market outlook for leading players in the global Sugar Confectionery Market. Furthermore, the report would reflect the key developments, global & regional sales network, business strategies, research & development activities, employee strength, and key executive, for all the major players operating in the market.
The global Sugar Confectionery Market is segmented on the basis of Product Type, Packaging Type, Distribution Channel, and geography. Based on product type, the global Sugar Confectionery Market is segmented into Hard-Boiled Sweets, Caramel & Toffees, Gums & Jellies, Medicated Confectionery, Mints, Marshmallows, Nougat, Lollipops, and Liquorice. Based on Packaging Type, the global Sugar Confectionery Market is segmented into Sachet, Box, others. Based on Distribution Channel, the global Sugar Confectionery Market is segmented into Convenience Stores, Departmental Stores, Online Stores, Retail Stores, Traders, Importers, and Exporters. Based on geography, the global Sugar Confectionery Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is sub-segmented into the United States, Canada and Rest of North America. Europe is sub-segmented into Germany, United Kingdom, Belgium, Spain, and Rest of Europe. Asia Pacific is sub-segmented into China, Japan, India, Australia, and Rest of Asia Pacific. Middle East & Africa is sub-segmented into Saudi Arabia, the UAE, and Rest of Middle East & Africa. South America is sub-segmented into Brazil and Rest of South America.
The research provides in-depth analysis of prominent players holding majority share of the global market with a focus on all operating business segment and would identify the segment of the company focusing on Sugar Confectionery Market. Further, market share of prominent companies in the global Sugar Confectionery Market would also be estimated. The study takes into consideration the key competitive information such as business strategy, product portfolio, key development, swot analysis, and research and development focus of all the Sugar Confectionery companies.
The global Sugar Confectionery Market study would take into consideration the participants engaged throughout the supply chain and value chain of the market, along with their contribution. Product portfolio would focus on all the products under the Sugar Confectionery business segment of the company. Similarly, the recent development section would focus on the latest developments of company such as strategic alliances and partnerships, merger and acquisition, new product launched and geographic expansion in the global Sugar Confectionery Market.
The Key Players of sugar confectionery market include Nestle SA, Chupa Chups SA., Cadbury PLC., Kraft Foods Inc., Ferrero SpA., The Hershey Company, Perfetti Van Melle S.P.A., HARIBO Dunhills (Pontefract) PLC, Lotte Confectionery Co Ltd, WM Wrigley JR Company, Lindt & Sprungli.
The Sugar Confectionery Market will be segmented as follows:
By Product Type
By Packaging Type
By Distribution Channel
By Region
The Sugar Confectionery Market size was estimated to be US$ 43 billion in 2019.
Nestl SA, Chupa Chups SA., Cadbury PLC., Kraft Foods Inc., Ferrero SpA., The Hershey Company, Perfetti Van Melle S.P.A., HARIBO Dunhills (Pontefract) PLC, Lotte Confectionery Co Ltd, WM Wrigley JR Company, Lindt & Sprungli
The CAGR of Sugar Confectionery Market between 2020 and 2030 is estimated to be 4.8%.
The rising consumption of sugar filled goodies across the various different age groups owing to its pleasant sweet taste and a plethora of different flavour combinations, coupled with its organoleptic properties, are considered to be the key reasons for their popularity amongst consumers across the board, and the same are a great contributor towards the market growth.
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