What is Confectionery Market?
The global Confectionery market is expected to witness high demand in the forecasted period due to the increasing popularity of Sugar-free confections that is more popular among people who have diabetes, obesity problems. Confectionery is the art of making confections, which are food items that are rich in sugar and carbohydrates. The upsurging nutritional as well as health concerns, and changing lifestyle will help to boost the global demand for the market.
The market study is being classified by Type (Chocolate Confectionery, Sugar Confectionery, Snack Bars and Gums) and major geographies with country level break-up. According to AMA, the Global Confectionery market is expected to see growth rate of 3.6%
Nestle (Switzerland), Ferrero Group (Italy), Perfetti Van Melle (Netherlands), Haribo (Germany), Lindt & Sprüngli (Switzerland), Barry Callebaut (Switzerland), Yildiz Holding (Turkey), August Storck (Germany), General Mills (United States) and Orion Confectionery (South Korea) are some of the key players profiled in the study. Additionally, the Vendors which are also part of the research are Uniconf, Lotte Confectionery, Bourbon Corp, Crown Confectionery, Roshen Confectionery, Ferrara Candy, Orkla ASA, Raisio Plc, Morinaga & Co. Ltd, Cemoi, Jelly Belly, Cloetta, Ritter Sport, Petra Foods and Amul.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA predicts that European Vendors will contribute to the maximum growth of Global Confectionery market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Confectionery market by Type, Application and Region.
On the basis of geography, the market of Confectionery has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- The increasing product range by including functional ingredients, organic herbal fillings, tropical fruit, and nut-based & exotic flavors in product formulations
- The rising demand for gifting confectionery products, such as cookies, chocolates, bakery items, and others
- The concern related to the volatile nature of raw material prices of sugar and cocoa
- The growing foodservice industries across the globe
- The stringent government regulations regarding the food products
The confectionery industry has been subject to Food and Drug Administration (FDA) regulations since before the agency's official inception. Confectionery manufacturers were a primary target of the initial federal oversight for food and beverage manufacturing practices.
Key Target AudienceConfectionery Products Manufacturers, Suppliers, Distributors, Government Regulatory bodies, Private Research Organizations, Government Research Organizations and Others
Frequently Asked Questions (FAQ):
1. Which factors would majorly drive the Confectionery Market?
"The increasing product range by including functional ingredients, organic herbal fillings, tropical fruit, and nut-based & exotic flavors in product formulations" is seen as one of major growth factors of Confectionery Market in years to come.
2. Can we have customized study for Confectionery Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. Which region will lead the Global Confectionery Market?
North America will lead the Confectionery Market.