Confectionery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Confectionery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

The global confectionery market reached a value of US$ 177.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 221.7 Billion by 2027, exhibiting a CAGR of 3.67% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Confectionery products are food items rich in sugar and other sweeteners. They are made using a wide range of ingredients, which help in improving the texture, appearance, and elasticity of products. These ingredients also function as stabilizer, emulsifier, gelling, and thickening agents. At present, the ongoing trend of gifting confectionery products, including cookies, chocolates, and bakery items, is offering lucrative growth opportunities to market players. As a result, key manufacturers are focusing on expanding their product portfolio by incorporating confectionery products made using tropical, nut-based, and exotic flavors to suit the taste and preferences of consumers.

Confectionery Market Trends:
Changing consumer taste, rapid urbanization, increasing working population, and rising purchasing power of individuals are among the key factors catalyzing the demand for ready-to-eat (RTE) products like confectionery items across the globe. Moreover, the rising prevalence of lifestyle diseases, such as obesity and diabetes, is resulting in the increasing popularity of functional confectionery. It includes items made using vitamins, minerals, cannabidiol (CBD), fiber, protein, omega-3s, probiotics, and energy supplements without calories and sugar. This, along with the rising consumption of nutraceuticals and sports nutrition, is contributing to market growth. Apart from this, the leading manufacturers are introducing gluten-free and organic product variants with no additives and preservatives and reduced allergens. In confluence with this, a significant shift in consumer preferences towards healthy, sustainable, and clean-label confectionery is influencing the market positively. Furthermore, key manufacturers are also developing premium products in innovative flavors and textures. The easy availability of these products through e-commerce channels, in confluence with the increasing penetration of the internet and boosting sales of smartphones, is creating a favorable outlook for the market.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global confectionery market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, age group, price point and distribution channel.

Breakup by Product Type:

Hard-boiled Sweets
Mints
Gums and Jellies
Chocolate
Caramels and Toffees
Medicated Confectionery
Fine Bakery Wares
Others

Breakup by Age Group:

Children
Adult
Geriatric

Breakup by Price Point:

Economy
Mid-range
Luxury

Breakup by Distribution Channel:

Supermarkets and Hypermarkets
Convenience Stores
Pharmaceutical and Drug Stores
Online Stores
Others

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Chocoladefabriken Lindt & Sprüngli AG, Crown Confectionery, Ezaki Glico Co. Ltd., Ferrero International S.A., HARIBO GmbH & Co. KG, Mars Incorporated, Meiji Holdings Co. Ltd, Mondelez International Inc., Nestle S.A., Parle Products Pvt. Ltd, The Hershey Company and The Kraft Heinz Company.

Key Questions Answered in This Report:
How has the global confectionery market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global confectionery market?
What are the key regional markets?
What is the breakup of the market based on the product type?
What is the breakup of the market based on the age group?
What is the breakup of the market based on the price point?
What is the breakup of the market based on the distribution channel?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global confectionery market and who are the key players?
What is the degree of competition in the industry?