The size of the Confectionery Store Market in India to grow by USD 4.32 billion between 2021 to 2026 | The rising demand for organic, functional, vegan, and gluten-free confectioneries drives market - Technavio

NEW YORK, Aug. 28, 2023 /PRNewswire/ --

Confectionery Store Market in India Facts at a Glance-

• Total Pages: 120
• Companies: 10+ – Including Avenue E-Commerce Ltd., Burgundy Hospitality Pvt. Ltd., Candice India Ltd, Chitale Bandhu Mithaiwale, Godrej, and Boyce Manufacturing Co. Ltd., Haldiram Foods International Pvt. Ltd, Karachi Bakery, Lotte Confectionery Co. Ltd., Parle Products Pvt. Ltd., and Perfetti Van Melle Group BV, among others.
• Coverage: Key drivers, trends, and challenges; Product insights & news; Value chain analysis; Parent market analysis; Vendor landscape; COVID impact & recovery analysis
• Segments: Distribution channel (offline and online) & Age-group (children, adult, and geriatric)
• Geographies: India

The size of the Confectionery Store Market in India is anticipated to grow by USD 4.32 billion between 2021 and 2026, experiencing a compounded annual growth rate (CAGR) of 13.59%. The market is projected to exhibit a year-on-year (Y-O-Y) growth rate of 12.54% in 2022, according to the latest report by Technavio. This growth is attributed to several factors, including rising demand for organic, functional, vegan, and gluten-free confectioneries.

To gain deeper insights into the Indian confectionery store market, including growth projections, trends, and key players, download the free sample report here

Confectionery Store Market in India: Segmentation

The report covers market segmentation by:

Distribution Channel:

• Offline
• Online

Age-group:

• Children
• Adult
• Geriatric

The offline segment, specifically the confectionery stores operating in physical locations, is expected to play a substantial role in driving revenue growth. This surge is attributed to the swift urbanization trends and resulting shifts in consumer lifestyles. As consumers increasingly seek on-the-go products and reduced waiting times at checkout counters, the demand for convenience stores has risen significantly in India. Consequently, sales of health-conscious and nutrition-oriented confectionery items, such as gluten-free products, have witnessed a notable surge within convenience stores. In this context, independent retailers, who are proprietors managing their own retail establishments, have strategically established their stores to align with the evolving business landscape. Their efforts encompass staffing, marketing, merchandising, and sales strategies, all contributing to the evolving confectionery market landscape.

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Confectionery Store Market in India: Regional opportunities

The trend towards premium and healthy chocolates is being popular, aligning with the "clean eating" trend. Despite fluctuating raw material prices, opportunities arise from urbanization, regional flavors, health and wellness trends, cultural celebrations, and e-commerce penetration in India. The market's diverse landscape and evolving preferences offer more regional growth prospects, making it a dynamic and promising industry.

For in-depth analysis and strategic insights into the thriving confectionery store market in India, buy the full report to make informed business decisions

Related Reports:

Chocolate Confectionery Market: 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. The report 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.

Sugar-free Confectionery Market: The sugar-free confectionery market size is expected to grow by USD 3.56 bn and record a CAGR of 3% during 2020-2024. This sugar-free confectionery market report further entails segmentations by Product (Chewing gums, Chocolates, Toffees and hard-boiled candies, and Others) and Geography (North America, Europe, APAC, South America, and MEA).

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