Sugar Confectionery Market Driven by Rising Disposable Income & Changing Lifestyle

Sugar confectionery comprises of many different products, such as boiled sweets, lollipops, medicated confectionery, mint, pastilles, gums, jellies and chews, toffees, caramels and nougats and others. The sugar confectionery industry is growing at a significant rate due to the rising demand for confectionery products, medicated confectionery products and sweet snacks items. In addition, changing lifestyle and increasing customer preference for gifting confectionery items fueled by the growing retail sector is further boosting the market for sugar confectionery in Asia Pacific. Growing sugarcane industry and innovation in sugar confectionery products is enhancing the Latin America sugar confectionery market.

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By types, the market is segmented into boiled sweets, lollipops, medicated confectionery, mint, pastilles, gums, jellies and, chews, toffees, caramels and nougat and others. Moreover, the report also provides cross sectional analysis of all the above segments across different countries within different regions such as Asia Pacific and Latin America. Asia Pacific country includes India, china, Japan, South Korea and Rest of Asia Pacific. Latin America includes country such as Brazil, Argentina and Rest of Latin America.

In 2014, among the different types of sugar confectionery, the toffees, caramels and nougat segment occupied the largest market share. However, the medicated confectionery segment is anticipated to witness the fastest growing market. The rapid growth of this segment is attributed to the increasing demand for medicated confectionery products, used in the formulation of drugs for many conditions such as colds, coughs, respiratory tract congestion and allergies are the main factors driving the growth of this market.

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The boiled sweets have gained popularity across different application segment owing to consumer preference as a gift especially for children and it’s also used as snacks item. Currently, boiled sweets hold the second largest market share of sugar confectionery market due to growing trend of snacks between meals and increasing trend of the nutritional content of sugar confectionery. Moreover, increasing sales owing to growing number of super market and retail channel is expected during the forecast period. Popularity of boiled sweets and its affordable price is projected to benefit the overall sugar confectionery market. In addition, pastilles, gums, jellies and chews manufacturers are focused on rising concern about obesity among youth. Therefore they are in the process of improving their products and introducing gluten free products.

Currently, toffees, caramel and nougat market expected a significant growth during the forecast period due to the awareness about the products created by the multinational and local manufacturers. The manufacturers not only focused on urban area but also they tried to cater the rural market. In addition, the rising demand and increasing trend of gifting confectionery product and especially in the occasion like Christmas, new year and others the manufacturers made different shape and flavor of confectionery products .Owing to these factors the market of total sugar confectionery is growing substantially

Geographically, the Latin America sugar confectionery market is predicted to experience the fastest growth from 2015 to 2023 in Asia Pacific and Latin America sugar confectionery market. Growing sugarcane industry and innovation in sugar confectionery products is enhancing the Latin America sugar confectionery market.

In order to get a better understanding of the sugar confectionery market, a key trends analysis has been included for all the segments. Furthermore, the market share of the major players in the sugar confectionery market has also been discussed in terms of market share revenue held in Asia pacific and Latin America. In addition, the key players in the market have also been profiled in terms of their product segments, financial overview, recent developments and business strategies adopted by them. The leading players in the market include Mars Inc., Mondelez International, Ferrero SpA, The Hershey Company, Nestle S.A., Lindt & Sprungli, Lotte Confectionery Co. Ltd. and Perfetti Van Mella SpA among others.

The Asia Pacific and Latin America sugar confectionery market can be segmented as follows;-

Asia Pacific and Latin America Sugar Confectionery Market, by Product Type
Boiled Sweets
Lollipops
Medicated Confectionery
Mint
Pastilles, Gums, Jellies and Chews
Toffees, Caramels and Nougat
Others

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