Sugar And Confectionery Products Global Market Report 2024

The sugar and confectionery products market size has grown strongly in recent years. It will grow from $353.62 billion in 2023 to $371.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%. The growth observed during the historical period can be attributed to factors such as the widespread consumer preference for sweet tastes, the impact of industrialization and mass production, the global expansion of sugar production, effective marketing and branding strategies, and the influence of seasonal traditions and gifting practices.

The sugar and confectionery products market size is expected to see steady growth in the next few years. It will grow to $440.72 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%. Anticipated growth in the forecast period can be attributed to various factors, including the influence of health-conscious consumer preferences, the demand for clean label and natural ingredients, a focus on sustainability and ethical sourcing, and the impact of digital marketing and e-commerce. Major trends expected in the forecast period include the rise of 'healthier indulgence' options, the development of plant-based confectionery products, a focus on artisan and craft confectionery, the popularity of gourmet and premium chocolates, and the increased availability of personalized and customized sweets.

The sugar and confectionery products manufacturing market is poised for growth, driven by the projected stable economic expansion in both developed and developing countries. According to data from the International Monetary Fund (IMF), global GDP witnessed growth of 3.3% in 2020 and 3.4% in 2021. Furthermore, recovering commodity prices following a significant decline in the past are expected to contribute to market growth. Developed economies are forecasted to experience steady growth in the coming period, while emerging markets are expected to outpace developed ones slightly. This stable economic growth is anticipated to drive investments in end-user markets, thus fueling the sugar and confectionery market.

The primary categories within the sugar and confectionery products sector include sugar itself and various confectionery products. Sugar, a sweet crystalline material composed mainly of sucrose, is obtained from a range of plants, with sugarcane and sugar beet being primary sources. It is widely used as a sweetening agent in the production of food and beverages. These products can be offered at different price points, including economy, mid-range, and luxury, and are distributed through various channels such as supermarkets, hypermarkets, convenience stores, e-commerce platforms, and other distribution channels.

The sugar and confectionery products research report is one of a series of new reports that provides sugar and confectionery products statistics, including sugar and confectionery products industry global market size, regional shares, competitors with sugar and confectionery products share, detailed sugar and confectionery product segments, market trends and opportunities, and any further data you may need to thrive in the sugar and confectionery products industry. This sugar and confectionery products research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The burgeoning e-commerce sector is expected to be a significant growth driver for the sugar and confectionery market in the future. E-commerce, the practice of buying and selling goods and services online, has become increasingly relevant. Sugar and confectionery companies have embraced e-commerce by operating online platforms, enabling customers to browse and purchase their products directly. This direct-to-consumer approach widens the market's reach and generates sales beyond physical stores. For instance, as of August 2023, data from the United States Census Bureau revealed that e-commerce estimates for the second quarter of 2023 increased by 7.5% (or 1.4%) compared to the second quarter of 2022, while overall retail sales rose by 0.6% (or 0.4%). Notably, 15.4% of all sales in the second quarter of 2023 were conducted through online stores. Therefore, the rising prominence of e-commerce is a driving force behind the sugar and confectionery market's growth.

The outbreak of COVID-19 acted as a significant impediment to the sugar and confectionery product manufacturing market in 2020. The pandemic disrupted supply chains due to trade restrictions and led to reduced consumption as governments worldwide imposed lockdowns. The virus's flu-like symptoms, including fever, cough, and breathing difficulties, first emerged in Wuhan, China, in 2019 and subsequently spread globally. Food and beverage manufacturers, reliant on raw material supplies from domestic and international sources, were forced to halt production due to disruptions in the movement of goods. Additionally, concerns over contamination led to restrictions on the trade of non-essential items. The pandemic adversely impacted businesses in 2020 and continued to have repercussions into 2021. Nonetheless, the sugar and confectionery products manufacturing market is anticipated to recover from this unforeseen event over the forecast period, as it is deemed a 'black swan' event unrelated to ongoing market weaknesses or global economic fundamentals.

Innovations in the confectionery market involve incorporating naturally occurring herbs and spices to enhance flavor profiles. This approach is considered essential for advancing the confectionery market. As per the United States Food and Drug Administration, 'natural flavor' refers to constituents derived from various sources, such as spices, fruits, vegetables, and more. The addition of herbs and spices provides manufacturers with the opportunity to create novel and distinctive taste profiles. For instance, Saltworks utilizes herbs and spices like espresso, vintage merlot, roasted garlic, rosemary, black truffle, Thai ginger, ghost pepper, lime, chipotle, jalapeno, habanero, and sriracha.

Leading companies operating in the sugar and confectionery products market are investing in innovative product offerings, including HFSS Products. HFSS stands for 'High in Fat, Salt, and Sugar,' categorizing food and beverage items with elevated levels of these nutrients. For example, in August 2022, Mondelez International, a U.S.-based food company, introduced eight non-HFSS Products across biscuits, confectionery, and drinking chocolate. These products are aimed at providing consumers with more options for mindful snacking and dietary management. As part of their commitment to mindful snacking, the company has long invested in offering consumers healthier choices, including the introduction of portion-control packaging designs and the inclusion of the Snack Mindfully emblem on all packs while providing nutritional information to consumers.

Major companies operating in the sugar and confectionery products market include Mondelez International Inc., Barry Callebaut AG, The Hershey Company, Nestle S.A., Wilmar International Ltd., Grupo Bimbo S.A.B. de C.V., Chocoladefabriken Lindt & Spruengli AG, Louis Dreyfus Company, CJ Corp, Yamazaki Baking Co. Ltd., Mars Wrigley Confectionery div. of Mars Inc., Ferrero International S.A., Pladis Group, Perfetti Van Melle B V, Haribo GmbH & Co. K.G., Ezaki Glico Co. Ltd., General Mills Inc., Grupo Arcor, Albanese Confectionery Group Inc., Jelly Belly Candy Company, The Topps Company Inc., Alfred Ritter GmbH & Co. KG, Trolli GmbH, The Kraft Heinz Company, The Ferrara Candy Company, The Warrell Corporation, The Promotion In Motion Companies Inc., Crown Confectionery Co. Ltd., Morinaga & Co. Ltd., Roshen Confectionery Corp., Cloetta AB, Yildiz Holding AS, Lotte Confectionery Co. Ltd., Orion Corp., American Licorice Co., Georgia Nut Co., Nellson LLC.

Asia-Pacific was the largest region in the sugar and confectionery products market in 2023. Western Europe was the second-largest region in the sugar and confectionery products market. The regions covered in the sugar and confectionery products market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the sugar and confectionery products market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The sugar and confectionery products market consists of sales of raw sugar, liquid sugar, refined sugar, chocolate candy bars, chocolate fudge, chocolate syrup, chocolate granola bars, candied fruits, toffee, fudge, granola bars, chewing gum, jelly candies, marshmallows, and other sugar and confectionery products. The companies in the sugar and confectionery products industry process agricultural inputs such as sugarcane, beet and cacao into sugar and confectionery products such as chocolate, and package and distribute them through various distribution channels to both individual customers and commercial establishments. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.