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Global Sugar Confectionery Market was valued at US$ XX Mn in 2017 and expected to grow at 4.5% Compound Annual Growth Rate (CAGR) over the 2018 to 2024
Sugar Confectionery Market
Global sugar confectionery market was valued at US$ XX Mn in 2017 and expected to grow at 4.5% Compound Annual Growth Rate (CAGR) over the 2018 to 2024
Market Outline: Global Sugar Confectionery Market
Sugar confectioneries refer to the food items that are rich in the carbohydrates and sugars. Sugar confectioneries include candies, chocolates, candied nuts, pastillage, chewing gums, and other products made of sugar.
Market Dynamics: Global Sugar Confectionery Market
Expansion of sugar confectionery portfolio to retail market and innovation of newer products with different flavors are the primary factors upsurge the revenue of sugar confectionery market. Moreover, rise in disposable income, increase in the gifting trends, promotional activities and advertising campaigns by the market players, and rise in disposable income in emerging countries are expected to fuel the global sugar confectionery market over the forecast years. However, rise in prevalence of diabetes and obesity, increase in the health awareness, and grow in inclination towards the dark chocolate may hinder the growth of sugar confectionery market over the forecast years.
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Market Scope: Global Sugar Confectionery Market
Global sugar confectionery market is segmented based on product type and distribution channel
Based on the product type, the market is segmented into the following:
• Caramel and Toffees
• Hard-Boiled Sweets
• Medicated Confectionery
• Gums and Jellies
• Mints
• Others
Based on the distribution channel, market is segmented into the following:
• Super markets & Hyper Markets
• Online Stores
• Departmental Stores
• Others
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Regional Analysis: Global Sugar Confectionery Market
Geographically, global sugar confectionery market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America sugar confectionery market accounted for larger share, which is attributed to increase in the number of retail outlets, innovation of newer products, and high per capita income in the region. Europe sugar confectionery market growth is owing to change in lifestyle coupled with hectic work schedules, increase in the gifting trends, and expansion of business by the market players in the region. Asia Pacific sugar confectionery market has a lucrative growth due to increase in the population in China, India, and Japan, rise in disposable income, and increase in the number of supermarkets and hypermarkets are boost the market.
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Competition Assessment: Global Sugar Confectionery Market
Some of the players in the global sugar confectionery market include:
• Cadbury PLC. (U.K)
• The Hershey Company (U.S.)
• HARIBO Dunhills (Pontefract) PLC (U.K)
• Ferrero SpA. (Italy)
• Lotte Confectionery Co Ltd (South Korea)
• Perfetti Van Melle S.P.A. (Italy)
• Nestl SA (Switzerland)
• Kraft Foods Inc. (U.S.)
• WM Wrigley JR Company (U.S.)
• Lindt & Sprungli (Switzerland)
Notable Market Developments: Global Sugar Confectionery Market
In January 2018, Ferrero group inked an agreement to acquire Nestle’s U.S. confectionery business for strengthening its presence in U.S.
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