Global Confectionery Market is anticipated to reach high in the forecast period. Confectionery implies a spectrum of items, also termed as “Sweets”. Confectionery industry produces extensive variability of food products that comprise high sugar content such as chocolates, candies, gums, cookies, and caramels. The factors that propel the growth of the Confectionery Market include retail market development, product innovation, growth in health consciousness, variation in cost & accessibility of raw materials, and high demand. On the other hand, there are factors that may hamper the growth of the market including increase in raw material prices. Market is anticipated to grow at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe.
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The market may be explored by type, distribution channel, and geography. The market may be explored by type as Sugar may include (Caramels & Toffees, Hard-Boiled Sweets, Gums & Jellies, Mints, Medicated Confectionery, Others may include (Nougat, Marshmallows, Liquorice, and Lollipops). Fine Bakery Wares, Chocolate may further include (Milk, Dark, and White), and Others may include (Snack Products, Gums, Raw Pastes, and Brand Ice Creams). The “Chocolate Confectionery” segment led the Confectionery Market in 2016 and is anticipated to maintain its dominance by 2022 owing to increasing demand.
The market may be analyzed by distribution channel as Convenience Stores, Drug Stores & Pharmacies, Hypermarkets & Supermarkets, Food & Drinks Specialists, and Others. The “Hypermarkets and Supermarkets” segment led the Confectionery Market in 2016 and is anticipated to maintain its dominance by 2022.
Europe accounted for the major share of the Confectionery Market Size in 2015 and will continue to lead in the forecast period. The factors that could be attributed to the growth include increasing demand, product innovation and fast populace growth. Europe is followed by North America and Asia-Pacific region owing to increasing demand in developing region such as Brazil, India, and China.
Some of the key players that fuel the growth of the Confectionery Market comprise Nestle SA, Ferrero Group, Hershey Food Corp, Lotte, Kraft Foods Co., Amul, Petra Foods, Cadbury Plc, Parle Products, Mars Inc., Cupa Chups SA, Perfetti Van Meller and Lindt & Sprungli and others. The leading companies are taking up partnerships, mergers and acquisitions, and joint ventures in order to boost the inorganic growth of the industry.
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Market Segment:
Segmentation by product and analysis of the confectionery market
•Chocolate
•Sugar confectionery
•Gums
Geographical segmentation and analysis of the confectionery market
•Americas
•APAC
•EMEA
Key questions answered in the report include
• What will the market size and the growth rate be in 2022?
• What are the key factors driving the global confectionery market?
• What are the key market trends impacting the growth of the global confectionery market?
• What are the challenges to market growth?
• Who are the key vendors in the global confectionery market?
• What are the market opportunities and threats faced by the vendors in the global confectionery market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global confectionery market?
Related Reports of This Category Available at Million Insights: https://www.millioninsights.com/industry/food-and-beverage
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