Navigating Sugar Confectionery Market Size, Share, and Growth Predictions to 2032 || Chupa Chups SA, Nestle S.A, Ferrero SpA

The Business Research Company's global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company's Sugar Confectionery Global Market Report 2023 identifies the increasing consumer demand for sweets and chocolates is expected to propel the growth of the sugar confectionery market going forward. Sweets and chocolates refer to food items created by combining cocoa beans that have been roasted and ground with sugar powder and fat to form solid confectionery. Sweets and chocolates include various formulations and flavors that use sugar as a main ingredient, as a result, increasing demand for sweets and chocolates increases the demand for the sugar confectionery market. For instance, in March 2022, according to a report shared by National Confectioners Association, a US-based trade organization that promotes chocolate, candy, gum and mints, sales of chocolate and sweets in the US increased by 11 percent between 2020 and 2021. Additionally, confectionery retail sales were $36.9 billion overall in 2021 and were projected to reach $44.9 billion by 2026.

The global sugar confectionery market size is expected to grow from $46.71 billion in 2022 to $49.28 billion in 2023 at a compound annual growth rate (CAGR) of 5.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global sugar confectionery market size is expected to reach $58.52 billion in 2027 at a CAGR of 4.4%.

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Major competitors in the sugar confectionery market are Chupa Chups SA, Nestle S.A, Ferrero SpA, The Hershey Company, Lotte Confectionery Co. Ltd., Lindt & Sprüngli AG, Cadbury, Perfetti Van Melle, Kraft Foods Inc., The Wm. Wrigley Jr. Company.

A key trend in the sugar confectionery market includes product innovation. Major companies operating in sugar confectionery are focused on developing innovative solutions to strengthen their position in the market. For instance, in June 2022, Mars Incorporated., a US-based multinational manufacturer of confectionery, launched a new product CO2COA, which is the first vegan milk chocolate bar.

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The sugar confectionery market is segmented -

1) By Product Type: Hard-Boiled Sweets, Caramel And Toffees, Gums And Jellies, Medicated Confectionery, Mints, Marshmallows, Nougat, Lollipops, Liquorice

2) By Packaging: Sachet, Box, Other Packaging

3) By Distribution Channel: Convenience Stores, Departmental Stores, Online Stores, Retail Stores, Traders, Importers, Exporters

4) By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Sugar Confectionery market.

The Business Research Company's "Global Sugar Confectionery Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.

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The Table Of Content For The Sugar Confectionery Market Include:
1. Executive Summary
2. Sugar Confectionery Market Characteristic
3. Sugar Confectionery Market Trends And Strategies
4. Sugar Confectionery Market - Macro Economic Scenario
5. Sugar Confectionery Market Size And Growth
……………
27. Sugar Confectionery Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Sugar Confectionery Market
29. Sugar Confectionery Market Future Outlook And Potential Analysis
30. Appendix

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