Market Trends of south america confectionery Industry
Strong spending on advertising along with the introduction of healthy variants like clean label, natural, and organic chocolates support the market growth
- Brazil remains the prominent confectionery consumer in South America. In 2022, 75% of the Brazilian population consumed chocolate, and 35% of Brazilian consumers preferred chocolate over any other food or drink.
- Creative Advertisement campaigns and packaging are the most prominent factors influencing the impulse buying of confectionery in the region. Sustainability is an increasingly important factor for consumers when it comes to snack packaging and ingredients.
- Consumers in South America are becoming more interested in premium confectionary items. In Brazil, as of 2023, 76% of consumers are willing to pay more for high-quality/premium snacks, including organic chocolates and vegan chocolates. Economic factors are a significant attribute influencing chocolate buying behaviors among consumers in Brazil.
- The rising consumer inclination toward low-sugar or low-calorie snack food is estimated to create lucrative opportunities for healthy variants of confectionery during the forecast period. In 2021, ‘Zero sugar’ (46%) and ‘light’ (55%) were the most common sugar claims in sugar-free and reduced-sugar food products, respectively, in Brazil.
OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The use of naturally produced color with unique color emulsion technology is expected to propel the market
