Global Confectionery Market Size to Reach USD 2,83,327.89 Million by 2030, At Growth Rate (CAGR) of 4.20%

Market Overview:

The Global Confectionery Market size was valued at USD 2,12,429.73 Million in 2023 and is projected to reach USD 2,83,327.89 Million by 2030, growing at a CAGR of 4.20% from 2023 to 2030.

The Confectionery Market encompasses the production, distribution, and sale of various sweet treats and confectionery products. Confectionery products include candies, chocolates, chewing gums, toffees, lollipops, and other sugary delights. These products are consumed as indulgent snacks, desserts, or treats for special occasions and celebrations. The confectionery industry caters to consumers of all age groups and has a significant presence in both retail and online markets.
The global Confectionery Market has experienced steady growth over the years, driven by factors such as changing consumer preferences, the introduction of innovative products, and the expansion of the retail and e-commerce sectors.

Top Key Players Covered In Global Confectionery Market
Mars, Incorporated (US), Mondelez International, Inc. (US), Nestlé S.A. (Switzerland), The Hershey Company (US), Ferrero Group (Italy), Lindt & Sprüngli AG (Switzerland), Meiji Holdings Co., Ltd. (Japan), Cadbury PLC (United Kingdom), Perfetti Van Melle (Italy/Netherlands), Lotte Confectionery Co., Ltd. (South Korea), Ezaki Glico Co., Ltd. (Japan), Haribo GmbH & Co. KG (Germany), The Kraft Heinz Company (US), Chocoladefabriken Lindt & Sprüngli AG (Switzerland), Ferrara Candy Company, Inc. (US), Ritter Sport (Germany), Wrigley Company (US), August Storck KG (Germany), Yildiz Holding (Turkey), Parle Products Pvt. Ltd. (India) and Other Major Players.

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The report summarizes all the information collected and serves the customer's requirements. However, these market analyses help in understanding market growth at both global and regional levels. For market data analysis, we have market panorama tools such as Market Dynamics, Competitor Analysis, PESTEL Analysis, SWOT Analysis, Porter Five Forces Analysis, Value Chain Analysis, Technology Roadmap and Evolution, Regulatory Framework, Price Trend Analysis, Patent Analysis, Covid-19 Impact Analysis, Russia-Ukraine War Impact and others.

Market Dynamics:

Driver:

Product Innovation and Diversification: The confectionery industry is characterized by continuous product innovation and diversification. Manufacturers regularly introduce new flavors, packaging designs, and healthier alternatives to cater to changing consumer demands. Evolving consumer lifestyles and preferences, including a growing fondness for indulgent treats and the desire for convenient on-the-go snacks, have contributed to the demand for confectionery products. Confectionery products are popular choices for gifting during festive seasons and special occasions like holidays, birthdays, and weddings. Seasonal demand and gifting traditions drive market growth during these periods.

Opportunities:

The market presents an opportunity for premium and artisanal confectionery products that appeal to consumers seeking unique and high-quality indulgences. Artisanal chocolates, handcrafted candies, and specialty sweets have gained popularity among discerning customers. The increasing popularity of online shopping provides an opportunity for confectionery manufacturers and retailers to expand their presence in the e-commerce market. Offering a wide variety of confectionery products and personalized gifting options can attract online consumers. In conclusion, the Confectionery Market is driven by changing consumer preferences, product innovation, and seasonal gifting trends. Companies in this market can capitalize on opportunities in healthier and functional confectionery, premium and artisanal offerings, e-commerce sales, and international expansion to foster growth and success in the confectionery industry.

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Segmentation Analysis Of The Global Confectionary Market
The Global Confectionery Market Segments Cover the Type, Age Group and Distribution Channel. By Type, The Chocolate Segment Is Anticipated to Dominate the Market Over the Forecast Period.
Chocolate is the most loved and enjoyed confectionary by all age groups in the market. it has a universal appeal and is enjoyed as a treat, gift, or indulgence in numerous cultures and countries.
Chocolate confectionery includes a wide range of products made primarily from cocoa, sugar, and other ingredients. Some of the popular chocolate confectionery products are chocolate bars, chocolate candies, chocolate truffles, filled chocolates, chocolate-coated nuts, and chocolate-covered fruits.
By Type
• Mints
• Gums
• Jellies
• Chocolate
• Others
By Age Group
• Children
• Adult
• Geriatric
By Distribution Channel
• Supermarket/Hypermarket
• Convenience Stores
• Pharmaceutical & Drug Stores
• Online

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Regional Analysis Of The Global Confectionery Market
Europe is expected to dominate the market over the forecast period.
The European confectionery market is one of the largest in the world, accounting for a significant share of global confectionery consumption.
The market has shown stable growth over the years, driven by factors such as consumer demand, innovation, and premiumization. While growth rates may vary across countries, the European confectionery market continues to offer opportunities for product development and expansion.
• North America (US, Canada, Mexico)
• Eastern Europe (Bulgaria, The Czech Republic, Hungary, Poland, Romania, Rest of Eastern Europe)
• Western Europe (Germany, UK, France, Netherlands, Italy, Russia, Spain, Rest of Western Europe)
• Asia Pacific (China, India, Japan, South Korea, Malaysia, Thailand, Vietnam, The Philippines, Australia, New Zealand, Rest of APAC)
• Middle East & Africa (Turkey, Bahrain, Kuwait, Saudi Arabia, Qatar, UAE, Israel, South Africa)
• South America (Brazil, Argentina, Rest of SA)

Key Industry Developments In The Global Confectionary Market
In August 2022, MONDELĒZ International completes the acquisition of CLIF BAR & COMPANY, a U.S. Leader in fast-growing energy bars. The acquisition expands Mondelēz International's global snack bar business to more than $1 billion, with leading brands including CLIF®, CLIF Kid® and LUNA® complementing the company's refrigerated snacking business Perfect Snacks in the U.S. and leading performance nutrition business Grenade in the U.K. This acquisition also advances the company's strategy to reshape its portfolio to deliver higher and sustainable growth.
In April 2023, Nestlé and PAI created a joint venture for frozen pizza in Europe. Nestlé and private equity firm PAI Partners have agreed to set up a joint venture for Nestlé's frozen pizza business in Europe, creating a dedicated player in a competitive and dynamic category. Nestlé will retain a non-controlling stake with equal voting rights alongside PAI Partners. The transaction is subject to employee consultations and the approval of regulatory authorities and is expected to close in the second half of 2023. Financial details are not being disclosed.

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