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sugar confectionery market

Sugar Confectionery Market Share, Size, Trends & Industry Analysis Report, By Distribution Channel (Offline Stores, Online Platforms); By Type; By Region; Segment Forecast, 2021 - 2028

  • Published Date: Jul 2021
  • Pages: 108
  • Format: PDF
  • Report ID: PM1595
  • Base Year: 2020
  • Historical Data: 2016 - 2019

Report Summary

The global sugar confectionery market was valued at USD 47.93 billion in 2020 and is anticipated to grow at a CAGR of 4.7% during the forecast period. Sugar confectionery includes an extensive range of food items such as boiled sweets, toffees, marshmallows, and fondant. Boiled sweets are made from a concentrated sugar solution heated and cooled to form a solid mass containing less than 2% moisture.

Boiled sweets are available in different colors, flavors, and shapes. The main ingredient used in the production of sweets is sucrose. The product manufacturers use starch-based sweeteners to prevent crystallization, control sweetness and cooling effect, reduce hygroscopicity and enhance flavors. Due to changing consumer preferences, market players offer these products with low-calorie value, sugar-free composition, and fiber enrichment.

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The growing demand for food products with low fat and cholesterol content and the rising trend of low-fat convenience food in developing countries has encouraged market players in the sugar products industry to launch innovative products to cater to the local palate of the consumers.

The increasing population and rising disposable income drive the industry growth. Increasing urbanization coupled with changing consumer lifestyles further support the industry growth. Significant investments by industry players in promotional activities, advertising campaigns, and social media marketing are expected to fuel the demand for sugar confectionery products during the forecast period.

The growing retail industry and rising trend of e-commerce further support the growth of the sugar confectionery industry. However, increasing health awareness, growing obesity-related diseases, and a shift in trend towards consumption of low-calorie food is expected to restrict the growth.

Growing demand from emerging economies, the increasing trend of gifting confectionery products, and rising demand for organic and premium chocolate products are factors expected to drive the global industry.

Segment Analysis

The global sugar confectionery market is segmented on the basis of type, distribution channel, and region. The sugar confectionery industry is segmented into hard-boiled sweets, gums and jellies, caramels and toffees, medicated confectionery, and others based on type.

The hard-boiled sweets dominated the global sugar confectionery industry in 2020, owing to high popularity among kids and increasing demand from emerging economies. The report segments the distribution channel into offline stores and online platforms. The offline segment dominated the global industry in 2020.

Sugar Confectionery Market Report Scope

By Type

By Distribution Channel

By Region

  • Hard-Boiled Sweets
  • Gums & Jellies
  • Caramels & Toffees
  • Medicated Confectionery
  • Others
  • Offline Stores
  • Online Platforms
  • North America (U.S, Canada)
  • Europe (Germany, UK, France, Italy, Spain, Netherlands, Austria)
  • Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (UAE, Saudi Arabia, South Africa, Israel)

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Regional Analysis

This report comprises a detailed geographic distribution of the market across North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is further segmented into U.S., Canada, and Mexico. Europe is divided into Germany, the UK, Italy, France, and the Rest of Europe. The Asia Pacific is bifurcated into China, India, Japan, and the Rest of Asia Pacific.

The Asia Pacific is expected to grow at the highest rate during the forecast period owing to increasing disposable income and improving lifestyles in the region. The increasing trend of e-commerce and rising marketing campaigns by leading players in the region support the growth.

Competitive Landscape

The leading players in the market include Nestle SA, Mondelez International, Perfetti Van Meller, Lindt & Sprungli, Hershey Food Corp, Ferrero Group, Mars Incorporated, Kraft Foods Co., WM Wrigley JR Company, and Haribo GmbH & Co. KG, among others.

These companies are consistently launching new products to enhance their offerings in the global sugar confectionery market. With changes in lifestyles, companies are innovating and introducing new products to cater to the customers' growing needs.

Leading companies are also acquiring other companies and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.

Key Take-Away
Polaris Market Research
Sugar Confectionery Market Size | Revenue Estimation Industry Report, 2028