Europe Coconut Candy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Chocolate Coconut Candy and Non-Chocolate Coconut Candy), Category (Sugar-Free and Conventional), and Distribution Channel (Supermarkets & Hypermarkets

Europe Coconut Candy Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Product Type (Chocolate Coconut Candy and Non-Chocolate Coconut Candy), Category (Sugar-Free and Conventional), and Distribution Channel (Supermarkets & Hypermarkets, Convenience Stores, Online Retail, and Others)

The coconut candy market in Europe is expected to grow from US$ 389.96 million in 2022 to US$ 567.95 million by 2028. It is estimated to grow at a CAGR of 6.5% from 2022 to 2028.

Rising Consumption of Coconut-Based Products

Coconut-based products are gaining considerable popularity among consumers owing to the health benefits and unique nutty flavor of coconut. Coconut consumption helps improve bone, skin, and heart health; boost immunity; and aid weight loss. It is a rich source of dietary fibers, vitamins, minerals, and medium-chain triglycerides. Its antimicrobial properties are being studied for various health and nutritional benefits. Many consumers prefer coconut-based products as they have a slightly mild and exotic flavor with sweet notes. Manufacturers are using coconut in a variety of food and beverages including candies, chocolates, bakery products, and beverages. Firmenich, a leading flavor and fragrances company, announced coconut as its “2016 Flavor of the Year.” Moreover, the demand for plant-based and 100% natural ingredients has surged with an increase in health concerns among people. Coconut candies are becoming highly popular among consumers as these candies satisfy sweet cravings and boost mood. Hectic lifestyles and busy work schedules refrain people from spending time on food indulgence. As a result, they indulge in comfort food and beverages that provide them a sense of relief. Further, the trend of gifting premium chocolate boxes that include coconut confections is rising. Thus, the rising consumption of coconut-based products coupled with increasing popularity of coconut flavored confections among consumers is driving the growth of the Europe coconut candy market.

Market Overview

Germany, France, Italy, the UK, Russia, and the Rest of Europe are the key contributors to the coconut candy market in the Europe. The market is competitive in these countries as the region homes some of the biggest global market players, such as The Hershey Company, Marc Incorporated, and Ferrero International. The increasing demand for confectionery products in Europe is driven by the indulgence and convenience offered by the products. As clean-label, sugar-free vegan products are witnessing traction in the European market, the market for coconut candy is growing significantly and gaining huge popularity among consumers in the region owing to the health benefits of coconut and its unique flavor. Additionally, the demand for coconut-based products is propelling in Europe due to increasing consumers’ interest in Asian cuisine. Thus, the import of desiccated coconut is increasing in Europe. According to the Centre for the Promotion of Imports from developing countries (CBI), Europe is the world’s largest importer of desiccated coconut, accounting for more than 30% of global imports. Desiccated coconut is a traditional and popular bakery and confectionery ingredient in many European countries. Online retail sales in many European countries increased significantly during the COVID-19 pandemic in 2020. In the UK, Ocado (an internet-only grocery retailer) reported to have increased its sales by 35% last year, from US$ 2.12 billion in 2019 to US$ 2.97 billion in 2020. Thus, the increasing import of desiccated coconut and the rising adoption of online retail are the factors that contribute to the growth of coconut candy and are further expected to drive market growth during the forecast period. Confectionery products such as candies play an important role during various festivals right from Halloween to Christmas. People give customized chocolate boxes as a gift to their loved ones. These customized gift boxes contain various flavors of confectioneries, including coconut-based candies. Thus, the increasing use of chocolate candies for festivals and occasions has been estimated to contribute to the growth and expansion of the Europe coconut candy market across Europe.

Europe Coconut Candy Market Revenue and Forecast to 2028 (US$ Million)

Europe Coconut Candy Market Segmentation

The Europe coconut candy market is segmented into product type, category, distribution channel, and country.

Based on product type, the market is bifurcated into chocolate coconut candy and non-chocolate coconut candy. The chocolate coconut candy segment registered the larger market share in 2022.

Based on category, the market is bifurcated into sugar-free and conventional. The conventional segment held a larger market share in 2022.

Based on distribution channel, the market is segmented into supermarkets & hypermarkets, convenience stores, online retail, and others. The supermarkets & hypermarkets segment held the largest market share in 2022.

Based on country, the market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe dominated the market share in 2022.

Alfred Ritter GmbH & Co. KG; Chocoladefabriken Lindt and Spruengli AG; Ferrero International S.A.; Godiva; Mars Incorporated; The Hershey Company; Unreal Brands Inc.; and Weetabix Food Co. are the leading companies operating in the coconut candy market in the Europe region.

Reasons to Buy

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the SAM lyophilized injectable market.
Highlights key business priorities to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the SAM lyophilized injectable market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth SAM market trends and outlook coupled with the factors driving the lyophilized injectable market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution