Market Trends of Global Liquor Confectionery Industry
This section covers the major market trends shaping the Liquor Confectionery Market according to our research experts:
Existing Chocolate Trend Will Amplify The Demand For Liquor Confectionery
Chocolate consumption has been on an upswing in countries such as the United States, where in general, Americans consume around 2.8 billion pounds of chocolate each year, with over 11 pound per person. This upward rise in chocolate consumption, year on year, will act as a supportive background for products such as liquor confectionery. Although, in general, such products will be sold specifically to certain age group, most of the demand will be met by the expectation towards gaining experience.
Furthermore, the rapid rise in adaptation of alternative form of alcohol consumption has eventually led people to spend more on liquor confectionery, thereby boosting the market further . In addition, the market has witnessed a higher share in terms of new product developments, along with the availability of different flavors, which are further anticipated to cater different taste preferences of consumers.
Europe will be the largest market for Liquor Confectionery
Within the liquor confectionery category, Europe is more likely to emerge as a centre for premium category, mostly related to higher consumer acceptance and brand penetration. In countries such as Britain, the confectionery sales have been on the rise, with an increase in the demand for premium liquor chocolate targeted toward specific set of consumers. The number of private label chocolatiers in the United Kingdom is also growing, with more artisanal and specialized products being launched to meet the consumers' demand in the premium liquor chocolate market.
Consumers choose premium liquor chocolates in most of the countries in this region, especially from the supermarkets and hypermarkets, owing to the unique variety of attractive products being offered, ready packaging, in-store promotions, and consistent chocolate quality. Additionally, consumers appear to be looking for high-end products. Furthermore, the trend of organic liquor confectionery is creating lucrative opportunities for the liquor chocolate manufactures to tap the potential markets thus, opening the doors for the new entrants to enter the market with new, innovative, organic, and flavored confectioneries, thus enhancing their revenue mixes, by gaining advantages over the others.
