Upcoming Challenges and Business Opportunities in Confectionery Market

 

Market Overview

As per the Research Dive report, the global confectionery market is expected to perceive significant growth and garner $227.4 billion during the forecast period from 2020–2027. The report offers thorough information regarding the market based on drivers and restraints, investment opportunities, key segments, key players, and regions. Some of the key players of the market are Nestlé S.A., Mars, Incorporated, The Hershey Company, Mondelez International, Inc., Ferrero Group, Meiji Co., Ltd., Haribo GmbH & Co. K.G., Chocoladefabriken Lindt & Sprüngli AG, pladis Global, Ezaki Glico Co., Ltd. and others. Also, the study covers a summary of key developments by the market players and COVID-19 impact analysis.

According to a recent report by Research Dive, the global confectionery market is divided into three segments based on type, distribution channel, and region. The chocolate sub-segment of the type segment and the online sub-segment of the distribution channel segment are at a dominant position in the market.

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Segmental Analysis

On the basis of type, the global market is divided into the following:

• Chocolate Confectionery
• Sugar Confectionery
• Gum & Candies

Among these, the chocolate sub-segment is expected to dominate the market growth by garnering $126.5 billion during the forecast period, 2020–2027. This is mainly because chocolate confectioneries are highly preferred and consumed by people belonging to almost any age group.

On the basis of distribution channel, the global market is divided into the following:

• Supermarkets/ Hypermarkets
• Bakeries
• Convenience stores
• Online
• Others

Among these, the online sub-segment is foreseen to witness highest growth by surpassing $15 billion during the forecast period, 2020–2027. This is mainly because working professionals having busy lifestyles find it extremely suitable and easy to buy from online stores.

Based on region, the global market is segmented into the following:

• Europe
  • UK
  • Germany
  • Spain
  • Italy
  • France
  • Rest of Europe
• North America
  • Canada
  • S.
  • Mexico

• Asia-Pacific
  • South Korea
  • Japan
  • China
  • Australia
  • India
  • Rest of Asia-Pacific
• LAMEA
  • South Africa
  • UAE
  • Saudi Arabia
  • Argentina
  • Brazil
  • Rest of LAMEA

Among these, the Asia Pacific region market is anticipated to observe accelerated growth and hit $60 billion during the 2020–2027 timeframe. This is mainly because of the growing disposable income of people and developing retail market in countries like India and China in this region.

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