Sugar Confectionery Market is expected to Generate Huge Profits by 2023: Vendors- THE HERSHEY COMPANY, Nestlé, Mars Incorporated, Mondelez International, HARIBO, Ferrero and Wrigley

Market Scenario:
Sugar confectioneries are a wide range of products, which contain artificial or natural sugar. The different types of sugar confectioneries available in the market are pastilles, gums, jellies, and chews which are available in different packaging format primarily sachets, boxes, and others.      Increasing consumption of sugar confectionery among various age groups owing to its taste and organoleptic properties is considered to be a major attraction towards the market growth.

Sugar confectioneries are among the recent trends in the market. Changing lifestyle and increasing disposable income is driving the growth of the sugar confectioneries market. High demand for premium products is further influencing the demand for sugar confectioneries. Moreover, increasing trend of gifting confectionery items is supporting the growth of the sugar confectionery market.

The innovation of new products with new flavors is adding fuel to the growth of the market. Moreover, growing trend towards organic and natural confectionery is boosting the growth of the market. Additionally, growing demand for privately labeled sugar confectionery is another factor boosting the growth of the market. However, increasing health awareness and continuous efforts to reduce weight and cholesterol content among the consumers may hamper the growth of the market.

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Major Key Players:
Some of the key players profiled in the global sugar confectionery market are THE HERSHEY COMPANY (U.S.), Nestlé (Switzerland), Mars Incorporated (U.S.), Mondelez International (U.S.), HARIBO (Germany), Ferrero (Italy), Wrigley (U.S.)

Key Findings:
China, Spain, Argentina, India, and the Netherlands are the major producers and exporters in the confectionery market.

Organic sugar confectionery is gaining tremendous growth over the forecast period

Segments:
Sugar confectionery market is segmented on the basis of type such as pastilles, gums, jellies, chews, and others. Among all, the pastilles segment is dominating the market followed by gums segment. Growing retail sector is majorly contributing to the growth of pastilles segment as they usually fall under an impulsive purchase of the consumers.

On the basis of the packaging, sugar confectionery market is segmented into sachets, boxes, and others. The sachet segment is dominating the market. However, the boxes segment are expected to grow at the fastest rate in the coming years.

Based on the distribution channel, sugar confectionery market is segmented into the store-based and non-store based distribution channel. The store-based distribution channel is dominating the market and is likely to continue its dominance over the forecast period. However, the non-store based distribution channel is expected to gain moderate growth in the coming years.             

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Regional Analysis:
The global sugar confectionery market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the global market followed by Europe. The U.S. is the major contributor to the growth of sugar confectionery market in North America. Growth in the retail sector is majorly contributing to the growth of the sugar confectionery in Europe market.

In Asia Pacific region, India is the major consumer of sugar confectionery products owing to the involvement of confectioneries in their various traditional customs, which has a high opportunity for sugar confectionery in this region. Continuous innovation by the key players in the market is likely to surge the growth of the sugar confectionery market in rest of the world.

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