The global Confectionery Market was valued at $303.4 million in 2016 and is likely to garner $232,085 million by 2022, growing at a CAGR of 3.4% during the forecast period, 2016-2022, according to Progressive Markets report, Confectionery Market Size, Trend, Share, Opportunity Analysis & Forecast, 2016-2022.
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Confectionery refers to the food products which are made of raw materials such as sugar, sucrose, cocoa products, flour, food additives and more. They are high in calorie and low in nutrients. Confectionaries can be classified into two types namely sugar confectionery and bakers confectionery. Sugar confectionery includes sweets/candies, chocolates, caramels, and gums while bakers confectionery includes pastries, cookies, cakes, and others. The preferred type of confectioneries often varies according to the geographical locations because of the difference in regulatory norms and other factors such as economy and taste of consumers.
By providing key insights of the industry, the report aims to provide an opportunity for market players, investors, industry leaders, and others interested in the market to understand the latest trends, current market scenario, the government initiative, and technologies associated with the confectionery market. In addition, it helps them understand the companies better and make informed decisions to achieve their business goals.
The report provides information about the factors that contribute to the growth or the failure of the confectionery market. Product innovation, the increased trend of gifting confectionery products, growing retail market, hectic lifestyle, the rise in disposable income in the developing economies such as India and China, and economic growth support the growth of the confectionery market. Manufacturers are bringing innovative products by including organic herbal fillings, exotic flavors, and functional ingredients to confectionaries to cater to the varying demands of consumers. On the other hand, there are several challenges faced by the industry that hamper the market growth. They include fluctuation in prices of raw materials, growing health awareness about sugar intake among people, and diverse consumer spending habits.
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The report analyzes the confectionery market based on its segmentation. The industry is divided on the basis of its type and geography. Based on type, the market is classified into sugar, chocolate, fine bakery wares, and others. Geographically, the industry analysis has been done for the regions such as North America, Europe, Asia-Pacific, and LAMEA.
The leading players in the global protein therapeutics market include Lindt & Sprngli AG (Switzerland), Ezaki Glico Co., Ltd. (Japan), Ferrero SpA (Italy), Delfi Limited (Singapore), Lotte Confectionery Co. Ltd. (South Korea), Mars, Incorporated (U.S.), Mondelez International, Inc. (U.S.), Nestl S.A. (Switzerland), The Hershey Company (U.S.), and Wm. Wrigley Jr. Company (U.S.). The report includes information such as the company overview, snapshot, product portfolio, operating business segments, business performance, and the key strategic moves adopted by these players to gain a strong foothold in the market.
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