The valuation of the global confectioneries market is US$ 301 billion in 2023. Sales of confectionery items are estimated to reach a value of US$ 474 billion by 2033-end, increasing at a CAGR of 4.6% over the next ten years.
Any kind of sweet treat is considered a popular food product across the globe. Confectioneries are sweets that come with a lot of carbohydrates and sugar. These come in the form of chocolates, cookies, gummies, and mints.
People around the world consume various confectioneries on special occasions, including anniversaries, birthdays, and even festivals such as Christmas, Halloween, and others.
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Rapidly Growing Demand for Chocolates Without Sugar
The health and diet of people are anticipated to alter significantly as people’s lifestyles improve throughout the world. Blood pressure, diabetes, and other lifestyle disorders may become more prevalent as a result of these changes. Obesity, being overweight, and other linked ailments are some severe issues that could pose problems for the long-term viability of our healthcare system.
To combat the aforementioned ailments, people are shifting their tastes towards low-calorie and sugar-free goods. As a result, the decreased consumption of sugar is further expected to fuel the demand for sugar-free chocolate, which is anticipated to have an impact on confectioneries’ sales.
Due to convenient access, consumers prefer offline distribution channels for purchasing confectionery.
The sector is divided into offline and online platforms based on the distribution route. In 2022, the offline channel, out of these two, held a market share of more than 75%. In recent years, people have started to prefer using offline channels to buy their groceries, consumer goods, chocolate, and other confectionary items.
The demand for chocolate candy is anticipated to be influenced by easy access and browsing through different confectionery products in retailers. Due to the rising demand for cookies, chocolate, and ice cream, manufacturers are also opening several new stores in malls, which is expected to create further growth prospects in the market.
Competitive Landscape
Several suppliers and manufacturers are concentrating on logistic development. They are also focusing on strengthening their distribution channels to expand their business.
For instance :
- Mondelez International Inc. in the year 2020 patented a process that can enable the company to reduce the level of sugar in its chocolates with the use of soluble corn fiber.
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Key Companies Profiled:
- Lindt & Sprungli
- Lotte Confectionery
- Mars Wrigley
- Mondelez International
- Nestle SA
- Perfetti Van MelleSpA
- The Hershey Company
- Pladis
Segmentation :
- By Type :
- Chocolates
- Sugar Confectioneries
- Cookies
- Ice Cream
- By Distribution Channel :
- Offline
- Online
- By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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Questionnaire answered in the report include:
- How the industry has grown?
- What is the present and future outlook on the basis of region?
- What are the challenges and opportunities?
- Why the consumption in region?
- In which year segment is expected to overtake segment?