Press release
Major Market Shift in Sugar And Confectionery Products Industry: Innovative Flavour Enhancements Harnessing The Power Of Herbs And Spices In Confectionery Manufacturing
Sugar And Confectionery Products Market Size
In the past few years, the market size for sugar and confectionery products has seen consistent growth. The valuation is set to increase from $368.31 billion in 2024 to $386.03 billion in 2025, reflecting a compound annual growth rate (CAGR) of 4.8%. The growth observed in the historic time frame has been spurred on by factors like consumers' love for sweets, industrialization, mass production, increase in global sugar production, effective marketing and branding strategies, and the tradition of giving sweets as gifts during certain seasons.
The market size for sugar and confectionery products is predicted to experience consistent growth in the impending years, reaching a value of $464.12 billion in 2029 at a CAGR of 4.7%. This projected growth for the forecasted period is due to factors like the rise of health-conscious consumer choices, the use of natural ingredients and clean labels, sustainability concerns, ethical sourcing practices, as well as digital marketing and e-commerce. In the forecast period, the market will be shaped by trends such as the demand for healthier treats, plant-based candy, craft and artisan confections, gourmet and premium chocolates, and bespoke sweets.
What Factors Are Propelling the Expansion of the Sugar And Confectionery Products Market?
The expansion of the sugar and confectionery products manufacturing market is bolstered by steady economic growth projected in numerous established and emerging nations. The International Monetary Fund (IMF) indicates that global GDP growth has attained 3.6% between 2021 and 2023. The resurgence of commodity prices, following a considerable decline in the past, is anticipated to further support the market's growth. It's also expected that developed economies will maintain consistent growth throughout the forecast period. Moreover, it's presumed that developing markets will proceed to grow marginally quicker than developed markets in the forecast duration. Consistent economic growth should heighten investments in end-user markets, consequently propelling the market throughout the forecast period.
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Which Businesses Are at the Forefront of Sugar And Confectionery Products Market Development?
Major companies operating in the sugar and confectionery products market include Mondelez International Inc., Barry Callebaut AG, The Hershey Company, Nestle S.A., Wilmar International Ltd., Grupo Bimbo S.A.B. de C.V., Chocoladefabriken Lindt & Spruengli AG, Louis Dreyfus Company, CJ Corp, Yamazaki Baking Co. Ltd., Mars Wrigley Confectionery div. of Mars Inc., Ferrero International S.A., Pladis Group, Perfetti Van Melle B V, Haribo GmbH & Co. K.G., Ezaki Glico Co. Ltd., General Mills Inc., Grupo Arcor, Albanese Confectionery Group Inc., Jelly Belly Candy Company, The Topps Company Inc., Alfred Ritter GmbH & Co. KG, Trolli GmbH, The Kraft Heinz Company, The Ferrara Candy Company, The Warrell Corporation, The Promotion In Motion Companies Inc., Crown Confectionery Co. Ltd., Morinaga & Co. Ltd., Roshen Confectionery Corp., Cloetta AB, Yildiz Holding AS, Lotte Confectionery Co. Ltd., Orion Corp., American Licorice Co., Georgia Nut Co., Nellson LLC.
What Are the Latest Innovations in the Sugar And Confectionery Products Market?
Makers of sweets and candies are incorporating naturally found herbs and spices into the taste dynamics of the confectionery industry. Creative innovation has been instrumental in the growth of the confectionery market. The United States Food and Drug Administration defines natural flavour or flavouring as essential oils, oleoresins, essences, extractive, protein hydrolysate, distillate, or any substance which is heated, roasted, or has undergone anxiety reduction, derived from spices, fruits, vegetables etc. The use of herbs and spices allows manufacturers to experiment with unique and new flavour combinations. For example, Saltworks incorporates a range of herbs and spices like espresso, vintage merlot, roasted garlic, rosemary, black truffle, Thai ginger, ghost pepper, lime, chipotle, jalapeno, habanero, and sriracha into its products.
How Is the Sugar And Confectionery Products Market Segmented?
The sugar and confectionery products market covered in this report is segmented -
1) By Type: Sugar, Confectionery Product
2) By Price Point: Economy, Mid-Range, Luxury
3) By Distribution Channel: Super markets Or Hyper markets, Convenience Stores, E-Commerce, Other Distribution Channels
Subsegments:
1) By Sugar: Granulated Sugar, Brown Sugar, Powdered Sugar, Liquid Sugar, Specialty Sugars (Organic Sugar, Coconut Sugar)
2) By Confectionery Product: Hard Candy, Soft Candy, Chocolate Products, Gummy Candies, Licorice, Marshmallows, Chewing Gum, Sugar-Free Confectionery
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Where Is the Sugar And Confectionery Products Market Growth Most Prominent?
Asia-Pacific was the largest region in the sugar and confectionery products market in 2023. Western Europe was the second-largest region in the sugar and confectionery products market. The regions covered in the sugar and confectionery products market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Sugar And Confectionery Products Global Market Report?
- Market Size Analysis: Analyze the Sugar And Confectionery Products Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Sugar And Confectionery Products Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Sugar And Confectionery Products Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Sugar And Confectionery Products Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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