Confectionery are food items that contain high level of sugar, carbohydrates, and fats. Confectionery products include candies, chewing gum, candies, lollipops, chocolates, etc. Consumption of confectionery products can help to reduce stress, minor throat irritations, coughs, colds, respiratory tract congestion and allergies.
Major factors driving growth of the global confectionery market are rising demand for various types of confectionery products and increasing consumption of sugar-free, low calorie sweets among individuals. However, regular consumption of confectionery products can have negative effects on consumer’s health, causing diabetes and obesity which may hamper the growth of the global target market.
The global confectionery market report has been segmented on the basis of product type, distribution channel, and region. On the basis of product type, the market is segmented into fine bakery wares, sugar, and chocolate. Chocolate segment dominates the global market in terms of revenue and expected to maintain its dominance over the forecast period, owing increasing popularity of chocolates among individuals of all age groups. Sugar segment is sub-segmented into caramel and toffee, jelly and gum, mint, and hard-boiled sweets. Mint segment expected to register major share in terms of revenue in sugar segment in the near future, owing increasing consumption of mint based confectionery products especially among young population. Chocolate segment is sub-segmented into dark, milk, and white. Dark segment is expected to dominate the chocolate segment, due to rising awareness regarding its positive effects on consumer’s health. On the basis of distribution channel, the market is segmented into supermarkets and hypermarkets, convenience stores, and online store.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, the Europe dominates the global market in terms of revenue, owing to higher consumption and the presence of key product manufacturers in this region. The market in Asia Pacific is expected to witness robust growth in the near future, owing to the rising availability of various types of confectionery products in the region.
Key players operating in the global confectionery market include Delfi Limited, Ezaki Glico Co., Ltd., Ferrero S.p.A., Chocoladefabriken Lindt & Sprüngli AG, Lotte Confectionery Co. Ltd., Mars, Incorporated, Mondelēz International, Inc., Nestlé S.A., The Hershey Company, and Wm. Wrigley Jr. Company.