Rising Demand Of Organic And Clean Labelled Snacks To Boost The Confectionery Market Growth

 

Confectionery 

The Confectionery Market is segmented by Product Type (Chocolates, Sugar Confectionery, and Snack Bars), Distribution Channel (Supermarkets/Hypermarkets, Convenience Stores, Online Retail Stores, Specialist Retailers, Vending Machines, and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022-2028

The Global Confectionery Market is estimated to be valued at US$ XX million in XXX and is expected to exhibit a CAGR of XX% over the forecast period, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Confectionery is the type of making confections or the food items which are very high in sugar and the carbohydrates. Defining what confections are is very difficult. Generally, confectionery is broadly classified into two parts; one is sugar confections and other is baked confections. The main thing of confectionary encompasses the section of cooking French chef who make pastries or the confisuer. Baker’s confectionery is also known as the flour confections which chiefly comprises of the baked products or cakes and sweet pastries. Baker’s confectionary excludes bread and is also a substitute good made by the baker.

Competitive Landscape:

Key players involved in the global Confectionery Market are Mars, Incorporated, Meiji Holdings Co., Ltd., Nestle S.A., Ferrero International S.A. and Mondelez International Inc.

Market Key Drivers:

Rising demand of organic and clean labelled snacks is expected to boost the growth of the global Confectionery Market. For instance, as per a Pew Research survey, 76% of adults consume organic food for health concerns.

Rising demand of sugar free chocolates is projected to propel the growth of global confectionery market. For instance, as per a survey conducted by BHF, around 49% of people preferred low to no sugar confectionary.

Covid-19 Impact Analysis:

The Covid-19 outbreak had an adverse impact on the growth of the global Confectionery Market owing to the shutdown and imposition of strict regulations. The restriction of mobility in public and the surge in virus led to the closure of manufacturing and production units. The halt in the supply chain and the disruption in transportation has impeded the market growth.

Key Takeaways:

The global Confectionery Market market is anticipated to exhibit a CAGR of XX % during the forecast period owing to frequent launches and quick approvals. For instance, in January 2022, Cadbury, introduced a Twist Wrap packaging for its Duos range, permitting users to snack a part and then turn and cover the rest of the chocolate for further usage.

Among regions, North America, Europe and Asia Pacific are expected to witness robust growth in global confectionery market due to shift of organic consumers, increasing sugar-free food, increasing collaborations and partnerships. For instance, Hershey, U.S.-based chocolate company, has sugar-free components for top brands, such as Hershey and Reese’s, which utilize maltitol and polyglycitol as a substitute of sugar.

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