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Global Sugar Confectionery Products Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Packaging Type, Distribution Channel, and Region

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    Report

  • 150 Pages
  • November 2022
  • Region: Global
  • Ken Research Private Limited
  • ID: 5695647
Sweets are sugar-based confections that are consumed by almost all socioeconomic categories. These goods come in a wide range of varieties, from individually wrapped candies to pricey goods in elegant packaging. The chosen type of confectioneries frequently varies by geographic region because of differences in regulatory norms and other considerations including economy, flavor, and customer desire.

According to this analysis, the Global Sugar Confectionery Products Market is expected to record a positive CAGR of ~4% during the forecast period (2022-2028) and is expected to reach approximately US$ 55 billion by 2028.

The sugar confectionery market is in growth at a steady pace on account of the rise in demand for on-the-go snacks, an increase in gifting trends, the introduction of new products with innovative flavors & healthy ingredients, and growth in the retail market

One of the main causes of the need for convenience snacks as part of the daily diet is rising modernization and a busy combination of work and personal commitments. Due to their busy schedules, customers are forced to hunt for quick-to-prepare food items because they are unable to spend time cooking or dining out during their working hours. Nowadays, as there are more consumers in the workplace, it is more difficult for them to maintain a healthy work-life balance. To provide consumers with a balanced diet, producers and marketers are actively profiting from the introduction and promotion of a variety of chocolate snacks, including on-the-go snacks, chocolate bars, and others.

Strict government regulations to limit the market growth

  • Strict government regulations are anticipated to protect the quality of these items in nations including the USA, Germany, the UK, China, and India, which presents challenges for new market entrants The hygienic standards for consumption are ensured by the established federal guidelines and rules which is putting pressure on the current organizations to match the standards
  • Given the implementation of numerous industrial trade and manufacturing restrictions during 2020, the COVID-19 pandemic had a moderate impact on the sugar confectionery business as evidenced by the dropping sales of snacks, notably sweets To balance the rising COVID-related stress levels, consumers' rising propensity and willingness to spend more on food products helped to improve product demand during the pandemic

Scope of the Report

The sugar confectionery products market is segmented by product type, packaging type, and distribution channel. In addition, the report also covers market size and forecasts for the four major regions’ sugar confectionery products market. The revenue used to size and forecast the market for each segment is US$ billion.

By Product Type

  • Gums
  • Jellies
  • Hard-Boiled Sweets
  • Caramel & Toffees
  • Mints
  • Medicated Confectionery
  • Others

By Packaging Type

  • Sachet
  • Box
  • Others

By Distribution Channel

  • Hypermarket/Supermarket
  • Departmental Store
  • Confectionery Stores
  • Online Retails

By Geography

  • North America (USA, Canada, and Mexico)
  • Europe (Germany, UK, France, Spain, and Italy)
  • Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)
  • LAMEA (Latin America, Middle East, and Africa)

Key Players

  • Lotte Confectionery
  • Ferrero SpA
  • Perfetti Van Melle
  • The Hershey Company
  • Specialty Food Association, Inc
  • Nestlé SA
  • The Kraft Heinz Company
  • Jelly Belly Candy Company
  • Lindt & Sprüngli AG
  • HARIBO of America, Inc

Key Trends by Market Segment

  • By Product Type: The hard-boiled sweets segment held the largest market share in the global sugar confectionery products market in 2021
  • From 2022 to 2028, the hard-boiled sweets segment will gain market share for sugar confectionery due to its increased appeal among children. This kind of candy is simple to make and comes in a shiny state. Some of the most popular hard-boiled candies include fruit drops, barley sugars, acid drops, hard gums, butterscotch, toffee, and caramel Another element affecting the demand for the product is an increase in consumption to swiftly raise blood sugar levels
By Packaging Type: The sachet segment held the largest share of the global sugar confectionery products market in 2021.

Sachets are compact, portable packaging options that are easy to handle. Although sachet packets are manufactured of a variety of materials, they require less packaging material and storage space, which lowers the cost of transportation. Sachets have a three- or four-sided sealing and are flat in design.

By Distribution Channel: The confectionery store distribution channel segment held the largest share of the global sugar confectionery products market in 2021.

For the purchase of consumer goods, groceries, confectionary items like chocolate, and other items where they can physically inspect the product quality, consumers are increasingly choosing confectionery stores.

Furthermore, the segment's expansion is projected to be fueled by consumers' ease of access to and browsing of a variety of confectionery products in stores. The increased consumer demand for chocolate, cookies, and ice cream is also encouraging manufacturers to create new stores in malls, which will fuel the rise of the offline segment in the future years.

By Geography: Asia Pacific accounted for the largest market share in 2021 within the total global sugar confectionery products market.

Due to factors such as rising urbanization and the widespread availability of functional confectionary food and beverages, Asia-Pacific is expected to experience significant growth. Since the majority of Asian cuisine is healthy and nutritious, there is a high demand for low-calorie products like sugar-free confectionaries and low-carbohydrate foods in Asia Pacific countries like India and Japan. This demand is anticipated to be the main driver of the modest growth in the global confectionery market over the course of the forecast period. As a result of the health problems associated with a high-sugar diet, Asian countries are moving toward sugar-free confections. Two categories of sweeteners-sugar alcohols and artificial sweeteners-are frequently employed to create sugar-free chocolate and gums.

Competitive Landscape

The Global Sugar Confectionery Products Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Large global players constitute ~5%, while regional players hold a 30% share. Some of the major players in the market include Lotte Confectionery, Ferrero SpA, Perfetti Van Melle, The Hershey Company, Specialty Food Association, Inc., Nestlé S.A., The Kraft Heinz Company, Jelly Belly Candy Company, Lindt & Sprüngli AG, HARIBO of America, Inc., and others.

Recent Developments Related to Major and Emerging Companies

  • In February 2022, Lotte Confectionery increased local production of its well-known Choco Pie chocolate desserts across the nation by investing US$ 285 million in Lotte KF RUS, its Russian subsidiary
  • In November 2021, Lindt & Sprüngli is reaffirming its dedication to Switzerland as its home base by investing the capacity increase at its production site in Olten The Lindt Cocoa Center, which produces cocoa mass for all of Lindt's production facilities in Europe, will be receiving an investment of almost 74 million Swiss francs by 2024
In November 2022, Swedish confectionery expert Cloetta Global Travel Retail (GTR) plans to introduce a cutting-edge new product by 2032, Swedish confectionery expert Cloetta Global Travel Retail (GTR) plans to introduce a new product under its Red Band line.

Conclusion

The global sugar confectionery products market is forecasted to continue a gradual growth that is witnessed during the forecast period. The sugar confectionery market is in growth at a steady pace on account of the rise in demand for on-the-go snacks, the increase in gifting trends, the introduction of new products with innovative flavors & healthy ingredients, and the growth in the retail market. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Note: This is an On-Demand/Planned report, so the figures quoted here for a market size estimate, forecast, growth, segment share, and competitive landscape are based on initial findings and might vary slightly in the actual report. Also, any required customizations can be covered to the best feasible extent for Pre-booking clients, and the report delivered within a maximum of two working weeks.

Key Topics Covered in the Report

  • Snapshot of the Global Sugar Confectionery Products Market
  • Industry Value Chain and Ecosystem Analysis
  • Market size and Segmentation of the Global Sugar Confectionery Products Market
  • Historic Growth of the Overall Global Sugar Confectionery Products Market and Segments
  • Competition Scenario of the Market and Key Developments of Competitors
  • Porter’s 5 Forces Analysis of the Global Sugar Confectionery Products Market
  • Overview, Product Offerings, and SWOT Analysis of Key Competitors
  • COVID-19 Impact on the Overall Global Sugar Confectionery Products Market
  • Future Market Forecast and Growth Rates of the Total Global Sugar Confectionery Products Market and by Segments
  • Market Size of Product Type/Packaging Type Segments with Historical CAGR and Future Forecasts
  • Analysis of the Sugar Confectionery Products Market in Major Regions
  • Major Production/Consumption Hubs in the Major Regions
  • Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
  • Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

  • Lotte Confectionery
  • Ferrero SpA
  • Perfetti Van Melle
  • The Hershey Company
  • Specialty Food Association, Inc
  • Nestlé SA
  • The Kraft Heinz Company
  • Jelly Belly Candy Company
  • Lindt & Sprüngli AG
  • HARIBO of America, Inc
  • AAK Confectionery Innovation
  • Mondoux Confectionery
  • IT'SUGAR
  • Prizaco
  • Shantou Yixin Food Co, Ltd
  • Suntak Foods Manufacturing Co, Ltd

Key Target Audience - Organizations and Entities Who Can Benefit by Subscribing This Report

  • Confectionery Manufacturers
  • Confectionery Products Manufacturers
  • Confectionery and Chocolate Product Development Companies
  • Vegan Confectionery Manufacturers
  • Confectionery Raw Materials Suppliers
  • Government Ministries and Departments of Food Industry
  • Food Regulatory Authorities
  • Food Manufacturers Associations
  • Confectionery Product Manufacturers Associations

Time Period Captured in the Report

  • Historical Period: 2017-2021
  • Forecast Period: 2022E-2028F

Frequently Asked Questions

What is the Study Period of this Market Report?
  • The Global Sugar Confectionery Products Market is covered from 2017-2028 in this report, which includes a forecast for the period 2022E-2028F
What is the Future Growth Rate of the Global Sugar Confectionery Products Market?
  • The Global Sugar Confectionery Products Market is expected to witness a CAGR of about 4% over the next six years
What are the Key Factors Driving the Global Sugar Confectionery Products Market?
  • The sugar confectionery market is in growth at a steady pace on account of the rise in demand for on-the-go snacks, the increase in gifting trends, the introduction of new products with innovative flavors & healthy ingredients, and the growth in the retail market
Which is the Largest Product Type Segment within the Global Sugar Confectionery Products Market?
  • The hard-boiled sweets product type segment held the largest share of the Global Sugar Confectionery Products Market in 2021
Who are the Key Players in Global Sugar Confectionery Products Market?
  • Lotte Confectionery, Ferrero SpA, Perfetti Van Melle, The Hershey Company, Specialty Food Association, Inc., Nestlé S.A., The Kraft Heinz Company, Jelly Belly Candy Company, Lindt & Sprüngli AG, HARIBO of America, Inc., among others are the major companies operating in Global Sugar Confectionery Products Market

 

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Table of Contents

1. Executive Summary
1.1 Highlights of Global Sugar Confectionery Products Market Historic Growth & Forecast
1.2 Highlights of Market Trends, Challenges, and Competition
1.3 Highlights of Market Revenue Share by Segments
2. Market Overview and Key Trends Impacting Growth
2.1 Global Sugar Confectionery Products Market Taxonomy
2.2 Industry Value Chain
2.3 The Ecosystem of Major Entities in the Global Sugar Confectionery Products Market
2.4 Government Regulations & Developments
2.5 Key Growth Drivers & Challenges Impacting the Market
2.6 COVID-19 Impact on Global Sugar Confectionery Products Market
2.7 Total Global Sugar Confectionery Products Market Historic Growth by Segment Product, 2017-2021
2.7.1 By Product Type
2.7.2 By Packaging Type
2.7.3 By Distribution Channel
2.7.4 By Regions
2.8 Total Global Sugar Confectionery Products Market Historic Growth and Forecast, 2017-2028
2.9 Key Takeaways
3. Global - Market Segmentation by Product Type, Historic Growth, Outlook & Forecasts
3.1 Market Definition - Segmentation by Product Type
3.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product Type, 2017-2028
3.2.1 Gums
3.2.2 Jellies
3.2.3 Hard-Boiled Sweets
3.2.4 Caramel & Toffees
3.2.5 Mints
3.2.6 Medicated Confectionery
3.2.7 Others
3.3 Key Takeaways from Market Segmentation by Product Type
4. Global - Market Segmentation by Packaging Type, Historic Growth, Outlook & Forecasts
4.1 Market Definition - Segmentation by Packaging Type
4.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Packaging Type, 2017-2028
4.2.1 Sachet
4.2.2 Box
4.2.3 Others
4.3 Key Takeaways from Market Segmentation by Packaging Type
5. Global - Market Segmentation by Distribution Channel, Historic Growth, Outlook & Forecasts
5.1 Market Definition - Segmentation by Distribution Channel
5.2 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Distribution Channel, 2017-2028
5.2.1 Hypermarket/Supermarket
5.2.2 Departmental Store
5.2.3 Confectionery Stores
5.2.4 Online Retails
5.3 Key Takeaways from Market Segmentation by Distribution Channel
6. Industry/Competition Analysis - Competitive Landscape
6.1 Type of Players (Competitors) & Share of Competition
6.2 Porter’s 5 Forces Analysis of Global Sugar Confectionery Products Competitors
6.3 Key Developments in the Global Sugar Confectionery Products Sector Impacting Market Growth
6.4 Comparison of Leading Competitors within the Global Sugar Confectionery Products Market, 2021
6.5 Comparison of Leading Competitors within the Global Sugar Confectionery Products Market by Coverage of Product Type, 2021
6.6 Comparison of Leading Competitors within the Global Sugar Confectionery Products Market by Coverage of Packaging Type, 2021
6.7 Comparison of Leading Competitors within the Global Sugar Confectionery Products Market by Coverage of Distribution Channel, 2021
6.8 Comparison of Leading Competitors within the Global Sugar Confectionery Products Market by Coverage of Regions, 2021
6.9 Key Takeaways from Competitive Landscape
7. Key Competitor Profiles (Company Overview, Product Offerings, SWOT Analysis)
7.1 Lotte Confectionery
7.2 Ferrero SpA
7.3 Perfetti Van Melle
7.4 The Hershey Company
7.5 Specialty Food Association, Inc.
7.6 Nestlé S.A.
7.7 The Kraft Heinz Company
7.8 Jelly Belly Candy Company
7.9 Lindt & Sprüngli AG
7.10 HARIBO of America, Inc.
  • Geographic Analysis & Major Regions Market Historic Growth, Outlook, and Forecasts
8.1 Major Region Comparison of Macroeconomic Factors
8.2 Total Global- Market Revenue Share, Historic Growth, Outlook and Forecasts by Geography, 2017-2028
8.3 Major Region Market Analysis, Historic Growth, Outlook & Forecasts, 2017-2028
8.4 North America - Sugar Confectionery Products Market Analysis
8.4.1 Major Production and Consumption Hubs in North America
8.4.2 Notable Emerging Sugar Confectionery Products Companies in North America
8.4.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product Type, 2017-2028
8.4.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Packaging Type, 2017-2028
8.4.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Distribution Channel, 2017-2028
8.4.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028
8.4.6.1 USA
8.4.6.2 Canada
8.4.6.3 Mexico
8.5 Europe- Sugar Confectionery Products Market Analysis
8.5.1 Major Production and Consumption Hubs in Europe
8.5.2 Notable Emerging Sugar Confectionery Products Companies in Europe
8.5.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product Type, 2017-2028
8.5.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Packaging Type, 2017-2028
8.5.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Distribution Channel, 2017-2028
8.5.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Country, 2017-2028
8.5.6.1 Germany
8.5.6.2 UK
8.5.6.3 France
8.5.6.4 Spain
8.5.6.5 Italy
8.5.6.6 Rest of Europe
8.6 Asia-Pacific- Sugar Confectionery Products Market Analysis
8.6.1 Major Production and Consumption Hubs in Asia-Pacific
8.6.2 Notable Emerging Sugar Confectionery Products Companies in Asia-Pacific
8.6.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product Type, 2017-2028
8.6.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Packaging Type, 2017-2028
8.6.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Distribution Channel, 2017-2028
8.6.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Countries, 2017-2028
8.6.6.1 China
8.6.6.2 Japan
8.6.6.3 South Korea
8.6.6.4 India
8.6.6.5 Indonesia
8.6.6.6 Australia
8.6.6.7 Rest of Asia Pacific
8.7 LAMEA - Sugar Confectionery Products Market Analysis
8.7.1 Major Production and Consumption Hubs in LAMEA
8.7.2 Notable Emerging Sugar Confectionery Products Companies in LAMEA
8.7.3 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Product Type, 2017-2028
8.7.4 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Packaging Type, 2017-2028
8.7.5 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Distribution Channel, 2017-2028
8.7.6 Market Revenue Share, Historic Growth, Outlook, and Forecasts by Major Sub-Regions, 2017-2028
8.7.6.1 Latin America
8.7.6.2 Middle East
8.7.6.3 Africa
9. Industry Expert’s Opinions/Perspectives
9.1 Notable Statements/Quotes from Industry Experts and C-Level Executives on Current Status and Future Outlook of the Market
10. Analyst Recommendation
10.1 Analyst Recommendations on Identified Major Opportunities and Potential Strategies to Gain from Opportunities
11. Appendix
11.1 Research Methodology - Market Size Estimation, Forecast, and Sanity Check Approach
11.2 Sample Discussion Guide
  • Disclaimer

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Lotte Confectionery
  • Ferrero SpA
  • Perfetti Van Melle
  • The Hershey Company
  • Specialty Food Association, Inc.
  • Nestlé S.A.
  • The Kraft Heinz Company
  • Jelly Belly Candy Company
  • Lindt & Sprüngli AG
  • HARIBO of America, Inc.
  • AAK Confectionery Innovation
  • Mondoux Confectionery
  • IT'SUGAR
  • Prizaco
  • Shantou Yixin Food Co., Ltd.
  • Suntak Foods Manufacturing Co., LTD.