Confectionery Market Report 2023-2028: Size, Growth, Trends, and Outlook

The latest report by IMARC Group, titled “Confectionery Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the global confectionery market. The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global confectionery market size reached US$ 185.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 229.3 Billion by 2028, exhibiting a growth rate (CAGR) of 3.5% during 2023-2028.

Confectionery refers to a range of sugary creations, including chocolates, candies, chewing gum, and pastries, crafted with meticulous attention to flavor, texture, and presentation. Confectionery treats are characterized by their pleasing flavors, textures, and often intricate designs. They are crafted using ingredients like sugar, chocolate, fruits, nuts, and other flavorings. Confectionery products hold a universal appeal, offering moments of pleasure, celebration, and comfort. As a result, it is widely consumed as a special treat and exchanged as a gift or part of a festive occasion.

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Market Trends and Drivers:

The universal appeal and enduring popularity of confectionery products, as they evoke nostalgic experiences, act as mood enhancers, and serve as gifts and treats for special occasions, represent the prime factor driving the market growth. Besides this, evolving consumer preferences and a growing interest in premium and artisanal confectionery products are contributing to the market's growth. Moreover, chocolates and confectionery assortments are popular choices for gifts, contributing to seasonal sales surges during occasions such as Valentine's Day, Easter, and festive celebrations.

In addition to this, packaging innovations, limited-edition offerings, and customization options create additional appeal for gifting purposes, positively impacting the market growth. Concurrently, the expansion of distribution channels, particularly e-commerce, offering convenience, personalized recommendations, and gifting options is aiding in market expansion. Furthermore, continuous product innovation and the introduction of new flavors, formulations, and product formats to cater to changing dietary preferences, health-conscious consumers, and emerging trends are influencing the market growth.

Some of the Top Competitive Landscape Operating in the Market are Given Below:

• Chocoladefabriken Lindt & Sprüngli AG
• Crown Confectionery
• Ezaki Glico Co. Ltd.
• Ferrero International S.A.
• HARIBO GmbH & Co. KG
• Mars Incorporated
• Meiji Holdings Co. Ltd
• Mondelz International Inc.
• Nestle S.A.
• Parle Products Pvt. Ltd
• The Hershey Company
• The Kraft Heinz Company

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/confectionery-market

Key Market Segmentation:

Breakup by Product Type:

• Hard-boiled Sweets
• Mints
• Gums and Jellies
• Chocolate
• Caramels and Toffees
• Medicated Confectionery
• Fine Bakery Wares
• Others

Breakup by Age Group:

• Children
• Adult
• Geriatric

Breakup by Price Point:

• Economy
• Mid-range
• Luxury

Breakup by Distribution Channel:

• Supermarkets and Hypermarkets
• Convenience Stores
• Pharmaceutical and Drug Stores
• Online Stores
• Others

Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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