Confectionery Market to grow by USD 66.29 billion from 2022 to 2027|Rising purchasing power of individuals drives the market - Technavio

NEW YORK, July 24, 2023 /PRNewswire/ -- The confectionery market size is expected to grow by USD 66.29 billion from 2022 to 2027, progressing at a CAGR of  5.02% as per the latest Technavio market research report. Europe is going to have lucrative growth during the forecast period. Europe is estimated to account for 30% growth of the global confectionery market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Europe is the largest confectionery market globally and is expected to maintain this trend during the forecast period. Western Europe, in particular, represents the largest subregional market for confectionery in both Europe and the world. Key countries in this region include the UK, Germany, France, Italy, Switzerland, the Netherlands, and Spain, which are major players in the confectionery industry. The growth of the European confectionery market is driven by the presence of prominent confectionery manufacturers across the region. These manufacturers are forming strategic alliances to foster innovation and establish a strong market position. Furthermore, the rise of small family-run bakeries and restaurants has significantly contributed to the increased consumption of confectionery in the region.  For more insights on the market share of various regions- Download sample report

Confectionery Market: The rising purchasing power of individuals drives growth

The rising purchasing power of individuals is a major factor notably driving market growth. Increasing consumer purchasing power in developing countries like India, China, Brazil, Indonesia, Russia, and South Africa, along with growing consumer spending and evolving preferences, is driving the growth of the middle-class population. This shift in financial capacity enables consumers in these countries to afford non-essential items, including convenience store products and ready-to-eat packaged foods, including confectionery. The rising purchasing power in these emerging markets presents promising opportunities for industry players. Additionally, the development of infrastructure, driven by rapid urbanization, has led to the establishment of organized retail outlets, enhancing the accessibility of confectionery products for consumers. Therefore, the increasing purchasing power of individuals in these regions is a key driver for market growth during the forecast period.

Confectionery Market: Rising demand for organic chocolate is a new trend

Rising demand for organic chocolate is an emerging trend influencing market growth.  Certified as organic, organic chocolate stands apart from traditional chocolate, which relies on cocoa beans and sugar cultivated using chemical fertilizers, pesticides, and herbicides. In response to the increasing health-consciousness among global consumers, there has been a surge in the popularity and demand for healthy snacks. Organic chocolate-based snacks have gained traction as consumers seek out healthier snack options. The rising consumer interest in organic products presents numerous opportunities for the market. The organic chocolate segment has experienced significant growth worldwide, particularly among millennials. Chocolate manufacturers are actively striving to meet the growing demand for organic chocolate, driving the market's growth throughout the forecast period.

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• Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
• Global competitiveness and key competitor positions
• Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Confectionery Market: Segmentation Analysis

This market research report segments the confectionery market by product (Chocolate, Sugar confectionery, and Gums), distribution channel (Offline and Online), and geography (Europe, North America, APAC, South America, and Middle East and Africa).

• The market share growth by the chocolate segment will be significant during the forecast period. The largest segment in the market is chocolate, which is undergoing maturity. In order to cater to evolving consumer preferences, market vendors are introducing innovative products with distinct flavors like hibiscus, lavender, ginger, and chocolate alcohol. The demand and popularity of premium organic chocolate are also on the rise. Furthermore, as consumers become increasingly health-conscious, there is a significant increase in the demand for reduced-sugar chocolates, particularly dark chocolate. The chocolate segment is expected to experience substantial growth throughout the forecast period.

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The Global Chocolate Confectionery Market size is projected to increase by USD 45.78 million and the market is estimated to grow at a CAGR of 4.97% between 2022 and 2027. In 2017, the market size was valued at USD 151.8 million.  This report extensively covers market segmentation by Product (chocolate bars, boxed assortments and seasonal variants, and others), Distribution Channel (offline and online), and Geography (Europe, North America, APAC, South America, and Middle East and Africa) and geography Europe, North America, APAC, South America, and Middle East and Africa. Expansions and promotions by vendors through various strategies are emerging trends in the chocolate confectionery market.

The confectionery market share in the US is expected to increase by USD 8.35 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 4.12%. This report extensively covers confectionery market segmentation in the US by distribution channel (offline and online) and product (chocolate confectionery, sugar confectionery, and gum confectionery). Seasonal demand for confectioneries is one of the major drivers impacting the confectionery market in US growth. 

Table of contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Distribution Channel
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022 

• 3.4 Market outlook: Forecast for 2022-2027
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ billion)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global confectionery market 2017 - 2021
• Exhibit 18: Historic Market Size – Data Table on Global confectionery market 2017 - 2021 ($ billion)

• 4.2 Product Segment Analysis 2017 - 2021
• Exhibit 19: Historic Market Size – Product Segment 2017 - 2021 ($ billion)

• 4.3 Distribution Channel Segment Analysis 2017 - 2021
• Exhibit 20: Historic Market Size – Distribution Channel Segment 2017 - 2021 ($ billion)

• 4.4 Geography Segment Analysis 2017 - 2021
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ billion)

• 4.5 Country Segment Analysis 2017 - 2021
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ billion)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Product

• 6.1 Market segments 
• Exhibit 30: Chart on Product - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Product - Market share 2022-2027 (%)

• 6.2 Comparison by Product 
• Exhibit 32: Chart on Comparison by Product
• Exhibit 33: Data Table on Comparison by Product

• 6.3 Chocolate - Market size and forecast 2022-2027
• Exhibit 34: Chart on Chocolate - Market size and forecast 2022-2027 ($ billion)
• Exhibit 35: Data Table on Chocolate - Market size and forecast 2022-2027 ($ billion)
• Exhibit 36: Chart on Chocolate - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Chocolate - Year-over-year growth 2022-2027 (%)

• 6.4 Sugar confectionery - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Sugar confectionery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 39: Data Table on Sugar confectionery - Market size and forecast 2022-2027 ($ billion)
• Exhibit 40: Chart on Sugar confectionery - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Sugar confectionery - Year-over-year growth 2022-2027 (%)

• 6.5 Gums - Market size and forecast 2022-2027
• Exhibit 42: Chart on Gums - Market size and forecast 2022-2027 ($ billion)
• Exhibit 43: Data Table on Gums - Market size and forecast 2022-2027 ($ billion)
• Exhibit 44: Chart on Gums - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Gums - Year-over-year growth 2022-2027 (%)

• 6.6 Market opportunity by Product 
• Exhibit 46: Market opportunity by Product ($ billion)
• Exhibit 47: Data Table on Market opportunity by Product ($ billion)

7 Market Segmentation by Distribution Channel

• 7.1 Market segments 
• Exhibit 48: Chart on Distribution Channel - Market share 2022-2027 (%)
• Exhibit 49: Data Table on Distribution Channel - Market share 2022-2027 (%)

• 7.2 Comparison by Distribution Channel 
• Exhibit 50: Chart on Comparison by Distribution Channel
• Exhibit 51: Data Table on Comparison by Distribution Channel

• 7.3 Offline - Market size and forecast 2022-2027
• Exhibit 52: Chart on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 53: Data Table on Offline - Market size and forecast 2022-2027 ($ billion)
• Exhibit 54: Chart on Offline - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Offline - Year-over-year growth 2022-2027 (%)

• 7.4 Online - Market size and forecast 2022-2027
• Exhibit 56: Chart on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 57: Data Table on Online - Market size and forecast 2022-2027 ($ billion)
• Exhibit 58: Chart on Online - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Online - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Distribution Channel
• Exhibit 60: Market opportunity by Distribution Channel ($ billion)
• Exhibit 61: Data Table on Market opportunity by Distribution Channel ($ billion)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 62: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 63: Chart on Market share by geography 2022-2027 (%)
• Exhibit 64: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 65: Chart on Geographic comparison
• Exhibit 66: Data Table on Geographic comparison

• 9.3 Europe - Market size and forecast 2022-2027
• Exhibit 67: Chart on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 68: Data Table on Europe - Market size and forecast 2022-2027 ($ billion)
• Exhibit 69: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 70: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027
• Exhibit 71: Chart on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 72: Data Table on North America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 73: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 74: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027
• Exhibit 75: Chart on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 76: Data Table on APAC - Market size and forecast 2022-2027 ($ billion)
• Exhibit 77: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027
• Exhibit 79: Chart on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 80: Data Table on South America - Market size and forecast 2022-2027 ($ billion)
• Exhibit 81: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 83: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 84: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ billion)
• Exhibit 85: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027
• Exhibit 87: Chart on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 88: Data Table on US - Market size and forecast 2022-2027 ($ billion)
• Exhibit 89: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 Germany - Market size and forecast 2022-2027
• Exhibit 91: Chart on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 92: Data Table on Germany - Market size and forecast 2022-2027 ($ billion)
• Exhibit 93: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.10 China - Market size and forecast 2022-2027
• Exhibit 95: Chart on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 96: Data Table on China - Market size and forecast 2022-2027 ($ billion)
• Exhibit 97: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.11 UK - Market size and forecast 2022-2027
• Exhibit 99: Chart on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 100: Data Table on UK - Market size and forecast 2022-2027 ($ billion)
• Exhibit 101: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027
• Exhibit 103: Chart on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 104: Data Table on Japan - Market size and forecast 2022-2027 ($ billion)
• Exhibit 105: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 107: Market opportunity by geography ($ billion)
• Exhibit 108: Data Tables on Market opportunity by geography ($ billion)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers 

• 10.2 Market challenges 

• 10.3 Impact of drivers and challenges 
• Exhibit 109: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends 

11 Vendor Landscape

• 11.1 Overview 

• 11.2 Vendor landscape 
• Exhibit 110: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 111: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 112: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 113: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 114: Matrix on vendor position and classification

• 12.3 Barry Callebaut AG 
• Exhibit 115: Barry Callebaut AG - Overview
• Exhibit 116: Barry Callebaut AG - Business segments
• Exhibit 117: Barry Callebaut AG - Key news
• Exhibit 118: Barry Callebaut AG - Key offerings
• Exhibit 119: Barry Callebaut AG - Segment focus

• 12.4 Chocoladefabriken Lindt and Sprungli AG
• Exhibit 120: Chocoladefabriken Lindt and Sprungli AG - Overview
• Exhibit 121: Chocoladefabriken Lindt and Sprungli AG - Business segments
• Exhibit 122: Chocoladefabriken Lindt and Sprungli AG - Key news
• Exhibit 123: Chocoladefabriken Lindt and Sprungli AG - Key offerings
• Exhibit 124: Chocoladefabriken Lindt and Sprungli AG - Segment focus

• 12.5 Crown Confectionery Co. Ltd 
• Exhibit 125: Crown Confectionery Co. Ltd - Overview
• Exhibit 126: Crown Confectionery Co. Ltd - Product / Service
• Exhibit 127: Crown Confectionery Co. Ltd - Key offerings

• 12.6 Delfi Ltd. 
• Exhibit 128: Delfi Ltd. - Overview
• Exhibit 129: Delfi Ltd. - Business segments
• Exhibit 130: Delfi Ltd. - Key offerings
• Exhibit 131: Delfi Ltd. - Segment focus

• 12.7 Ezaki Glico Co. Ltd. 
• Exhibit 132: Ezaki Glico Co. Ltd. - Overview
• Exhibit 133: Ezaki Glico Co. Ltd. - Business segments
• Exhibit 134: Ezaki Glico Co. Ltd. - Key offerings
• Exhibit 135: Ezaki Glico Co. Ltd. - Segment focus

• 12.8 Ferrero International S.A. 
• Exhibit 136: Ferrero International S.A. - Overview
• Exhibit 137: Ferrero International S.A. - Product / Service
• Exhibit 138: Ferrero International S.A. - Key news
• Exhibit 139: Ferrero International S.A. - Key offerings

• 12.9 HARIBO GmbH and Co. KG 
• Exhibit 140: HARIBO GmbH and Co. KG - Overview
• Exhibit 141: HARIBO GmbH and Co. KG - Product / Service
• Exhibit 142: HARIBO GmbH and Co. KG - Key offerings

• 12.10 Mars Inc. 
• Exhibit 143: Mars Inc. - Overview
• Exhibit 144: Mars Inc. - Product / Service
• Exhibit 145: Mars Inc. - Key news
• Exhibit 146: Mars Inc. - Key offerings

• 12.11 Meiji Holdings Co. Ltd. 
• Exhibit 147: Meiji Holdings Co. Ltd. - Overview
• Exhibit 148: Meiji Holdings Co. Ltd. - Business segments
• Exhibit 149: Meiji Holdings Co. Ltd. - Key news
• Exhibit 150: Meiji Holdings Co. Ltd. - Key offerings
• Exhibit 151: Meiji Holdings Co. Ltd. - Segment focus

• 12.12 Mondelez International Inc. 
• Exhibit 152: Mondelez International Inc. - Overview
• Exhibit 153: Mondelez International Inc. - Business segments
• Exhibit 154: Mondelez International Inc. - Key news
• Exhibit 155: Mondelez International Inc. - Key offerings
• Exhibit 156: Mondelez International Inc. - Segment focus

• 12.13 Nestle SA 
• Exhibit 157: Nestle SA - Overview
• Exhibit 158: Nestle SA - Business segments
• Exhibit 159: Nestle SA - Key news
• Exhibit 160: Nestle SA - Key offerings
• Exhibit 161: Nestle SA - Segment focus

• 12.14 Perfetti Van Melle Group BV 
• Exhibit 162: Perfetti Van Melle Group BV - Overview
• Exhibit 163: Perfetti Van Melle Group BV - Product / Service
• Exhibit 164: Perfetti Van Melle Group BV - Key offerings

• 12.15 The Hershey Co. 
• Exhibit 165: The Hershey Co. - Overview
• Exhibit 166: The Hershey Co. - Business segments
• Exhibit 167: The Hershey Co. - Key news
• Exhibit 168: The Hershey Co. - Key offerings
• Exhibit 169: The Hershey Co. - Segment focus

• 12.16 Unilever PLC 
• Exhibit 170: Unilever PLC - Overview
• Exhibit 171: Unilever PLC - Business segments
• Exhibit 172: Unilever PLC - Key news
• Exhibit 173: Unilever PLC - Key offerings
• Exhibit 174: Unilever PLC - Segment focus

• 12.17 Yildiz Holding AS 
• Exhibit 175: Yildiz Holding AS - Overview
• Exhibit 176: Yildiz Holding AS - Product / Service
• Exhibit 177: Yildiz Holding AS - Key news
• Exhibit 178: Yildiz Holding AS - Key offerings

13 Appendix

• 13.1 Scope of the report 

• 13.2 Inclusions and exclusions checklist
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations 
• Exhibit 185: List of abbreviations

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