Sugar Confectionery Market Size, Future Implementation, Detailed Analysis by Various Key Players include Wrigley, Ferrero, HARIBO, Mondelez International, Etc.

Market Definition:
The global sugar confectionery market has created a niche for itself and is predicted to accumulate revenue at 3.2% CAGR over the forecast period (2017-2023). As the name indicates, sugar confectionery has a high content of sugar and its chief ingredients include glucose syrups, invert sugars and sucrose. They are categorized into two types- fondant and boiled sweets. The boiled sweets are water and sugar boiled at a high temperature where no water is left over and on cooling a vitreous mass gets formed. On the other hand, fondant are small sugar crystals in saturated sugar syrups generally used for decorating cakes and as a creamy filling in biscuits and chocolates. It is made by boiling sugar solution where an inverting agent or glucose syrup is added and rapidly cooling while stirring. The various types of sugar confectionery include chews, jellies, gums, pastilles and others.

Market Scenario and Key Restraints:
There are a couple of factors that is driving the growth of the sugar confectionery market. Some of the market trends and factors in this market as per an analysis conducted by Market Research Future (MRFR) include increase in the rate of sugar confectionery items amid different age groups due to its organoleptic properties and taste, increasing disposable income, changing lifestyle, growing demand for premium quality products, rising trend to gift confectionery items, new product innovation, new flavors, increasing trend for natural and organic confectionery and increasing demand for sugar confectionery that is privately labeled. On the flipside, factors such as increasing health awareness, rise in diabetes and constant efforts to reduce cholesterol content and weight may hinder the growth of the sugar confectionery market.

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Key Players:
Leading players profiled in the sugar confectionery market include Wrigley (U.S.), Ferrero (Italy), HARIBO (Germany), Mondelez International (U.S.), Mars Incorporated (U.S.), Nestlé (Switzerland) and THE HERSHEY COMPANY (U.S.).

Competitive Analysis:
The global sugar confectionery market is fragmented and is highly competitive owing to the existence of different small, local and global vendors that compete based on quality, promotion, distribution, product differentiation and price. The performance of the vendors is affected by the advancements in technology, fall in profit margins, intense and unorganized competition and consumer’s preferences and changing tastes. In order to have a competitive advantage, the vendors need to differentiate their services and products through a unique and clear proposition.

Industry Updates:
Aug 2018- Leading Irish & International food business, Valeo Foods Group has taken over Tangerine Confectionery from Blackstone Group. The deal adds renowned confectionery brands from the UK such as Blackjack, Fruit Salad and Dip Dab to the growing portfolio of Valeo Foods Group. This acquisition will help in boosting up the growth momentum further behind the iconic brands of Tangerine.

Market Segmentation:
Market Research Future report provides a comprehensive segmental analysis of the sugar confectionery market on the basis of type, packaging and distribution channel.

Based on type, it is segmented into chews, jellies, gums, pastilles and others. Of these, pastilles are leading the market which is followed by gums.

Based on packaging, the sugar confectionery market is segmented into boxes, sachets and others. Of these, sachets are ruling the market but boxes too are anticipated to grow at the fastest pace during the forecast period.

Based on distribution channel, it is segmented into non-store based and store-based. Of these, the store-based is ruling the market and expected to hold its position during the forecast period. The non-store based however is likely to experience a moderate growth.

Regional Analysis:
Based on region, the sugar confectionery market covers growth opportunities and latest trends across North America, Europe, Asia Pacific and Rest of the World. Of these, North America rules the market followed by Europe. In the North American region, the US is the biggest contributor towards the sugar confectionery market growth. The growth taking place in the retail sector is largely contributing towards the market growth in the European region. In the APAC region, India is the key consumer of sugar confectionery goods due to the involvement of confectioneries in different traditional customs that possess immense opportunities for sugar confectionery here. Constant innovations made by the leading market players is expected to spur the sugar confectionery market growth in the Rest of the World during the predicted years.

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