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Why the Confectionery Market is set to explode? Top Companies: Ferrero, The Hershey Company, Elmer Chocolate, Nestlé, Unilever, EZAKI GLICO and more
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Key players leading the Global Confectionery Market includes;
Ferrero
The Hershey Company
Elmer Chocolate
Nestlé
Unilever
EZAKI GLICO.
Meiji Company Ltd.
Mars
Mondelēz International and Grupo Arcor.
The growing demand for healthy comfort foods has created a subsequent demand for organic confectionery products. Increasing health awareness and the recent advancements in organic products have aided the growth of the global confectionery products market. The introduction of gluten-free and low-calorie chocolates has aided the demand for confectionery products in several parts of the world.
The use of natural sugar additives such as sugar as an alternative to its synthetic counterparts will add to the demand for confectionery products, which in turn will favor growth of the global market.
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Eveready’s Confectionary Market Debut to Enable Fresh Growth Trajectory
The global confectionery products market olds massive potential due to the presence of numerous market players and the high number of funds invested in the development of confectionery products. As companies are identifying the huge potential, several companies are leveraging from their core strategies and entering this market with high initial funds. In January 2018, Eveready, a leading battery manufacturer, announced the launch of its ‘Jollies’.
The company announced that Jollies will be its first-ever fruit-chew product. The company is focused mostly on batteries and this is its first-ever involvement in the food and beverage industry. The market has attracted companies from other industries due to the high number of growth opportunities. The report includes market activities, similar to Eveready’s involvement and this is likely to aid the growth of the global confectionery market in the coming years.
Segmentation for Confectionery Market
By Product Type
Chocolate Confectionery
Sugar Confectionery
Gum Products
By Distribution Channel
Supermarkets/Hypermarkets
Specialty Stores
Online Channels
Convenient Stores
Others
By Geography
Mars Extends Product Sales in India
The demand for confectionery products has risen significantly in the past decade. With an aim to extend consumer coverage, companies are focusing on countries with a huge population. IN one such instance, Mars, a leading candy manufacturer, announced that it plans to extend its product sales in India. The announcement was made in 2017 when Mars announced that it plans to launch its famous ‘M&Ms’ candy into the massive Indian market.
The company believes that it will establish a stronghold in the market and the massive Indian population will help them cater to a wider audience. Fortune Business Insights states that the company’s latest business strategy will help them enhance their business and will create a huge potential for growth of the company. This, in turn, will have a positive impact in the global confectionery market. The report includes business strategies, similar to Mars’ latest product extensions and gauges their impact on the global market.
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