The global sugar confectionery market size is expected to reach USD 68.29 billion by 2028 according to a new study by Polaris Market Research. The report “Sugar Confectionery Market Share, Size, Trends & Industry Analysis Report, By Distribution Channel (Offline Stores, Online Platforms); By Type; By Region; Segment Forecast, 2021 - 2028” gives a detailed insight into current market dynamics and provides analysis on future market growth.
A significant increase in population, changing eating habits, and rising disposable income drive the industry growth. Growing inclination towards gifting of the products and investments by industry players in social media marketing and promotional activities are secondary factors positively influencing the industry growth.
Factors such as an increase in per capita income, changes in consumer behavior, and the rising trend of e-commerce are expected to accelerate the growth of the confectionery industry in the coming years. Increasing demand from developing nations, rising demand for organic and premium chocolate products, and the growing trend of gifting the products are factors expected to provide numerous growth opportunities to the industry players during the forecast period.
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The increasing demand for sugar products in the Asia Pacific is expected to be driven by growth in China, Japan, and India. The development in the retail industry, stable economic conditions, and growing trend of using the products as gifts support the industry growth in the region.
The major companies profiled in the sugar products industry analysis report include Nestle SA, Perfetti Van Meller, Hershey Food Corp, Mondelez International, Lindt & Sprungli, Ferrero Group, WM Wrigley JR Company, Mars Incorporated, Kraft Foods Co., and Haribo GmbH & Co. KG, among others.
Polaris Market Research has segmented the sugar confectionery market report on the basis of type, distribution channel, and region:
Sugar Confectionery, Type Outlook (Revenue - USD Million, 2016 - 2028)
Sugar Confectionery, Distribution Channel Outlook (Revenue - USD Million, 2016 - 2028)
Sugar Confectionery, Regional Outlook (Revenue - USD Million, 2016 - 2028)