Confectionery Market Growth, Trends and Forecasts (2019 - 2024)

Global Confectionery Market is segmented by Product Type as Chocolates, Sugar Confectionery, and Snack Bars; by Distribution Channel as Supermarkets and Hypermarkets, Convenience Stores, Online Retail Stores, Specialist Retailers, Vending Machines, and other Distribution Channel; and by Geography.

Market Snapshot

confectionery market
Study Period:

2016-2024

Base Year:

2018

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

3.45%

Key Players:

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Confectionery Market

The global confectionery market is forecasted to witness a CAGR of 3.45% during the forecast period (2019 - 2024).

  • Chocolate is the most popular category dominating the market, owing to its increased consumption, globally. North America and Europe are the market leaders, with Asia-Pacific and the Middle East being a prospective market, owing to the customers’ increasing preference for the exotic confectionary products being sold and manufactured in those countries.
  • High sugar content related to obesity is a severe concern among consumers. Consumers are looking for healthier options, such as low calorie, high cocoa, and functional ingredient-based confectionery. Functional claim on confectionery products labels is growing rapidly.
  • Also, snack bars are commonly perceived as a healthier alternative to chocolate or confectionery, and also due to its product variation, in terms of the different nutrition, such as proteins, they are enjoying a strong image as a treat.

Scope of the Report

The global confectionery market is segmented into segments such as product type, distribution channel, and geography. Under the product type, the market is segmented into chocolate (dark chocolate and white chocolate), sugar confectionery (boiled sweets, mints, pastilles, gums, jellies & chews, toffees, caramels & nougat, and other sugar confectionery products) and snack bar (cereal bars, energy bars, and other snack bars). 

Moreover, under the distribution channel, the global confectionery market is segmented into supermarkets and hypermarkets, convenience stores, online retail stores, specialist retailers, vending machines, and other distribution channels.

By Product Type
Chocolate Confectionary
Dark Chocolate
White and Milk Chocolate
Sugar Confectionery
Boiled Sweets
Toffees, Caramels and Nougat
Pastilles, Gums, Jellies and Chews
Mints
Others
Snack Bar
Cereal Bars
Energy Bars
Others
By Distribution Channel
Supermarket/Hypermarket
Specialist Retailers
Online Retail Stores
Convenience Stores
Other Distribution Channels
Geography
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
Spain
France
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Australia
Rest of Asia-Pacific
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa

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Key Market Trends

Increasing Demand for Organic Chocolate

Healthier snacking, along with convenience and taste, is the rising trend among consumers, which is the major strategy adopted by the companies because of the growing demand for healthy snacks. Thus, confectionery companies are introducing convenient packaging that let consumers eat in small portions and preserve the rest for later. Also, snack bars are commonly perceived as a healthier alternative to chocolate or confectionery, and also due to its product variation, in terms of the different nutrition, such as proteins, they are enjoying a strong image as a treat. For instance, in July 2017, Mars Inc. launched a new low-calorie, a low-chocolate content bar called “Goodness Knows”, which is the first ever low-calorie bar in the past 20 years. The product is made with whole nuts, dried fruits, toasted oats, and dark chocolate.
Moreover, the value of organic chocolate and other food preparations containing cocoa exported from Denmark from 2008 to 2017. In 2017, the export value of organic chocolate and other food preparations containing cocoa from Denmark amounted to roughly 12.6 million Danish kroner. The increase in exports for organic chocolates is also expected to drive the demand for organic-based confectionery market.

 

 
Confectionery Market1

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Increasing Popularity of Sugar-free Confectionery across the Developed Economies

Low-calorie products, such as sugar-free confectionaries, are expected to be the driving force behind the modest growth in the global confectionery market over the forecast period. Also, the high sugar intake is a cause for concern globally, as it is linked to a number of health problems. In order to avoid sugar intake, when consuming candy, many people choose sugar-free options. To make sugar-free chocolate and gums, there are two classes of sweeteners that are typically used; sugar alcohols and artificial sweeteners. For instance, Hershey, the leading US-based chocolate player has sugar-free variants for leading brands, such as Hershey and Reese’s, which use maltitol and polyglucitol, instead of sugar. The sugar-reduction movement has caused global manufacturers to use increasing amounts of sugar replacers or natural sweeteners in their new products. This health trend has not only fostered a shift in ingredients for the confectionery industry, but also new pack sizing strategies. The aim of these new formats are to convey greater portion control and lower guilt of buying a treat while boosting impulse purchase.

Confectionery Market2

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Competitive Landscape

With a huge global presence and wide distribution networks, the key players, such as Mars Incorporated, Mondelez International, Ferrero Group, Lindt & Sprungli AG, Nestle, and Hershey’s hold the prominent shares in the global confectionery market. Key players are focusing on online distribution channels for their online marketing and branding of their products, in order to expand their geographic reach and increase their customer base. Leading manufacturers in the confectionery market are focusing to leverage opportunities posed by emerging markets, like China and India, to expand their revenue base, because of the rising income levels and their increasing preference for different confectionery products type. Owing to the diversified product portfolio, which includes fruit and nut-based chocolates, dark chocolates, and flavored chocolates are the key market players in this market.

Major Players

  1. Mars, Incorporated
  2. Ferrero
  3. Nestle S.A.
  4. Mondelēz International
  5. Meiji Holdings Co., Ltd.

* Complete list of players covered available in the table of contents below

confectionery market

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Porter's Five Forces Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Product Type

      1. 5.1.1 Chocolate Confectionary

        1. 5.1.1.1 Dark Chocolate

        2. 5.1.1.2 White and Milk Chocolate

      2. 5.1.2 Sugar Confectionery

        1. 5.1.2.1 Boiled Sweets

        2. 5.1.2.2 Toffees, Caramels and Nougat

        3. 5.1.2.3 Pastilles, Gums, Jellies and Chews

        4. 5.1.2.4 Mints

        5. 5.1.2.5 Others

      3. 5.1.3 Snack Bar

        1. 5.1.3.1 Cereal Bars

        2. 5.1.3.2 Energy Bars

        3. 5.1.3.3 Others

    2. 5.2 By Distribution Channel

      1. 5.2.1 Supermarket/Hypermarket

      2. 5.2.2 Specialist Retailers

      3. 5.2.3 Online Retail Stores

      4. 5.2.4 Convenience Stores

      5. 5.2.5 Other Distribution Channels

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United Kingdom

        3. 5.3.2.3 Italy

        4. 5.3.2.4 Spain

        5. 5.3.2.5 France

        6. 5.3.2.6 Russia

        7. 5.3.2.7 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Australia

        5. 5.3.3.5 Rest of Asia-Pacific

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Most Active Companies

    2. 6.2 Most Adopted Strategies

    3. 6.3 Market Share Analysis

    4. 6.4 Company Profiles

      1. 6.4.1 Mars, Incorporated

      2. 6.4.2 Ferrero International S.A.

      3. 6.4.3 Nestle S.A.

      4. 6.4.4 Mondelēz International, Inc

      5. 6.4.5 Meiji Holdings Co., Ltd.

      6. 6.4.6 The Hershey Company

      7. 6.4.7 Chocoladefabriken Lindt & Sprungli AG

      8. 6.4.8 EZAKI GLICO CO.,LTD.

      9. 6.4.9 HARIBO GmbH & Co. KG

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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