New York, June 03, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the publication of the report “Global Confectionery Market, By Type, By Distribution Channel, By Region, Competition Forecast & Opportunities, 2016-2026F” – https: / / www .reportlinker.com / p06089417 /? utm_source = GNW
The global confectionery market is expected to grow at a CAGR of 4.85% during 2021-2026F to reach 244.25 billion USD by 2026F due to the increasing demand for ready-to-eat products, as well as changing tastes and preferences of consumers while choosing products. Manufacturers are increasing the variety of products to meet changing market demands by adding ingredients such as tropical fruits, organic herbal nuts and fillings, and exotic flavors into product formulations. Moreover, factors such as population growth, emerging premium confectionery segments and the entry of various players are further fueling the confectionery market on a global level.
People like to celebrate festivals by offering candy. Moreover, today’s generation prefers sugar free chocolates or organic candy / chocolates over these unhealthy candies.
The confectionery industry is one of the synchronized and well-developed sectors among other sectors in the world and has become an attractive destination for investment and several large multinational companies are entering this market.
The consumption of chocolates has led to an increase in health problems such as weight gain, diabetes, and dental problems caused by high sugar intakes. Therefore, consumers are turning to organic chocolates and candies.
Organic products open up opportunities for the confectionery industry. Organic chocolate is created from cocoa beans that have not been treated with synthetic fertilizers, herbicides or pesticides.
Strengthened efforts by manufacturers to meet market demand for organic chocolates and candies are expected to grow in the global confectionery market over the next few years.
The global confectionery market can be divided into type, distribution channel, and region. In terms of type, the global confectionery market is divided into chocolate, sugar candy, and gum candy.
Whose chocolate segment dominates the global confectionery market due to the continuous launch of innovative products supported by an aggressive brand image. The adoption of premium chocolates and candies as gifts at festivals and functions is also growing significantly globally.
In terms of distribution channel, the global confectionery market is divided into supermarkets / hypermarkets, independent grocery stores, convenience stores / retailers, department stores and non-store retail (online stores). Among which, supermarkets / hypermarkets held a major market share of around 26% in 2020 in the global confectionery market.
Mondelez International, Mars, Incorporated, Ferrero Group, Nestlé SA, The Hershey Company and others are the companies operating in the confectionery market. A European company, Mars Incorporated, is the confectionery market leader in the world. March, Incorporated has a primary target audience for all business segments and targets people of all age groups, from the lower class to the upper middle class. Mars has a robust distribution network across the globe as it has many manufacturing units located around the world. In March 2021, Mars Wrigley and Danimer Scientific, a leading developer and manufacturer of biodegradable materials, announced a two-year partnership to develop innovative home compostable packaging for a more sustainable planet.
Years considered for this report:
Historical years: 2016-2019
Baseline year: 2020
Estimated year: 2021E
Forecast period: 2022F-2026F
Goal of the study:
• To analyze the historical growth in market size of the global confectionery market from 2016 to 2020.
• Estimate and forecast the market size of the global confectionery market from 2021 to 2026F and the growth rate to 2026F.
• Classify and forecast the global confectionery market on the basis of type, distribution channel, company and region.
• Identify the dominant region or segment of the global confectionery market.
• Identify the drivers and challenges of the global confectionery market.
• Examine competitive developments such as expansions, new product launches, mergers and acquisitions, etc., in the global confectionery market.
• Perform price analysis for the global confectionery market.
• Identify and analyze the profile of the main players operating in the global confectionery market.
• Identify key sustainable strategies adopted by market players in the global confectionery market.
The analyst performed both primary and secondary research exhaustive for this study. Initially, the analyst found a list of manufacturers around the world.
Subsequently, the analyst conducted primary research surveys of the identified companies. During the interviews, respondents were also asked about their competitors.
Using this technique, the analyst was able to include manufacturers who could not be identified due to the limitations of secondary research. The analyst looked at manufacturers, distribution channels and the presence of all major players across the country.
The analyst calculated the size of the global confectionery market using a bottom-up approach, in which data from various end-user segments has been recorded and forecast for years to come. The analyst obtained these values from industry experts and company representatives and validated them externally by analyzing historical data for these types of products and applications to arrive at an appropriate overall market size.
Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by the analyst.
Key target audience:
• Manufacturers, distributors and end users
• Market research and consulting firms
• Government bodies such as regulators and policy makers
• Confectionery related organizations, forums and alliances
The study is useful in providing answers to several critical questions that are important to industry players such as manufacturers, end users, etc., in addition to enabling them to develop investment strategies and capitalize on market opportunities.
Scope of the report:
In this report, the global confectionery market has been segmented into the following categories in addition to industry trends which have also been detailed below:
• Global Confectionery Market, by Type:
o Sugar candies
o Gum candies
• Global confectionery market, by distribution channel:
o Supermarkets / Hypermarket
o Independent grocery stores
o Convenience stores / Front yard retailers
o Departmental store
o Non-store retail (online store)
• Global confectionery market, by region:
o South America
o Middle East and Africa
United Arab Emirates
Company Profiles: Detailed analysis of the major companies present in the global confectionery market.
With the market data provided, we offer customizations based on the specific needs of a business. The following customization options are available for the report:
• Detailed analysis and profiling of additional market players (up to five).
Read the full report: https://www.reportlinker.com/p06089417/?utm_source=GNW
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