Confectionery Market to Garner $270.51 Bn, Globally, by 2027 at 3.6% CAGR, Says Allied Market Research

Economic growth & rise in disposable income, expansion of the retail market, and rapid product innovations drive the growth of the global confectionery market.

News provided by

Allied Market Research

Oct 28, 2020, 09:00 ET

PORTLAND. Ore., Oct. 28, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Confectionery Market by Product Type (Hard-Boiled Sweets, Mints, Gums & Jellies, Chocolate, Caramels & Toffees, Medicated Confectionery, Fine Bakery Wares, and Others), Age Group (Children, Adult, and Geriatric), Price Point (Economy, Mid-Range, and Luxury), and Distribution Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, Food Services, Duty-Free Outlets, E-Commerce, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2027". According to the report, the global confectionery industry was pegged at $210.3 billion in 2019, and is projected to reach $270.5 billion by 2027, growing at a CAGR of 3.6% from 2021 to 2027.

Major market players

Economic growth & rise in disposable income, expansion of the retail market, and rapid product innovations drive the growth of the global confectionery market. However, fluctuating costs and availability of raw materials hamper the market growth. On the contrary, growing demand for sugar-free, low-calorie, and organic products is expected to create lucrative opportunities for the market players in the future.

Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/1865

Covid-19 scenario:

The strict rules and lockdown across various countries have caused a shortage of raw materials such as food ingredients, agricultural produce, and intermediate food products.
The prolonged lockdown has affected the supply chain and created uncertainty in consumer demand.
Due to fear of infection, there is scarcity of workers at the industrial level, which resulted in demand-supply volatility.
During the lockdown, the sales of confectionery declined due to reduced gifting and impulse buying behavior of customers.

The chocolate segment dominated the market

By product type, the chocolate segment held the largest share in 2019, accounting for more than one-third of the global confectionery market, owing to growth in economic prosperity, especially in emerging countries. However, the medicated confectionery segment is expected to manifest the highest CAGR of 4.1% during the forecast period, owing to rise in prevalence of minor ailments and over-the-counter medications or dietary supplements that require active ingredients such as antacids, vitamins, and herbal extracts.

The e-commerce segment to manifest the highest CAGR through 2027

By distribution channel, the e-commerce segment is projected to portray the highest CAGR of 5.7% during the forecast period, due to establishment of online portals for confectionery products especially in developing countries with large populations using the internet. However, the supermarket/hypermarket segment held the largest share in 2019, contributing to nearly two-fifths of the global confectionery market, owing to surge in adoption of supermarket/hypermarket in the mature and emerging markets.

Asia-Pacific, followed by Europe and North America, to register the highest CAGR by 2027

By region, the market across Asia-Pacific is expected to register the highest CAGR of 4.5% during the forecast period, owing to rapid growth in consumer spending, purchasing capacity, and the willingness to try new and innovative products. However, the market across Europe held the lion's share in 2019, accounting for nearly two-fifths of the market, due to predominance in chocolate confectionery and rapid innovation in terms of textures, flavors, shapes, and pack sizes. The global confectionery market across North America is anticipated to register the highest CAGR of 3.2% from 2021 to 2027.

For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/1865

Major market players

Mars, Incorporated
Nestlé S.A.
Mondelez International, Inc.
Meiji Co., Ltd.
Ferrero Group
Chocoladefabriken Lindt & Sprüngli AG
The Hershey Company
Haribo GmbH & Co. K.G.
Ezaki Glico Co., Ltd.
Pladis

Avenue Basic Plan | Library Access | 1 Year Subscription |

Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.

Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter

Get more information: https://www.alliedmarketresearch.com/library-access

Flatbread Market: Global Opportunity Analysis and Industry Forecast 2019–2026

Packaged Soup Market: Global Opportunity Analysis and Industry Forecast 2021–2027

Greek Yogurt Market: Global Opportunity Analysis and Industry Forecast 2020–2027

About Us

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1(855)550-5975
[email protected]
Web: https://www.alliedmarketresearch.com
Follow Us on LinkedIn: https://www.linkedin.com/company/allied-market-research