Confectionery Market (By Type: Chocolate, Sugar Confectionery, Gums & Jellies, Mints, and Others; By Distribution Channel: Supermarkets & Hypermarkets, Pharmaceuticals, Specialty Stores, Convenience Stores, Online Stores, and Others; By Age Group: Adult, Kids, and Geriatric) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022 - 2030

The global confectionery market size was estimated at US$ 240.5 billion in 2021 and expected to hit US$ 298.2 billion by 2030, growing at a compound annual growth rate (CAGR) of 2.4% from 2022 to 2030.

Growth Factors:

increasing population, and innovative products are projected to positively influence the market. Innovative products with superior qualities such as low sugar, fat, and cholesterol content are slated to further aid in market growth over the next six years. The surge in general health problems such as obesity, breathlessness, and stomach disorders among the younger population can be attributed to irregular eating habits and unhealthy food consumption.

Rising health awareness and consciousness regarding the high-calorie food consumption is expected to retard the market growth. Increasing raw material prices along with the varying consumer spending habits are anticipated to hinder market growth over the next six years. Different confectionery products have different market characteristics pertaining to different geographies. Chocolate confectionery dominated the confectionery product market over recent years, followed by gum and sugar confectionery. Chocolate market is segmented on the basis of regional tastes, where as the sugar confectionery market is fragmented due to the availability of multiple local producers.

Such variation in the market poses financial and logistical challenges for the industry participants. However, chocolate and gum confectionery industries are fairly consolidated, with global key producers accounting for a major market share. Innovative product positioning coupled with attractive packaging and creative advertising is presumed to open up lucrative opportunities for the industry participants in the near future. R&D activities on manufacturing confectionery products with natural ingredients and low negative health impacts promise abundant opportunities for the established as well as new entrants in the market. In addition, functional confectionery products such as cough drops, nutritional tablets, and premium sweets promise rapid market growth and related opportunities for the participants.

Report Scope of the Confectionery Market

Type Insights

By type, the chocolate segment led the global confectionery market with remarkable revenue share in 2020 and is anticipated to retain its dominance throughout the forecast period. Chocolate is the most common and popular confectionery across the globe. The growing rising disposable income, craving for chocolate among the all age groups, and easy availability of various chocolates like dark chocolate, white chocolate, nut-based, and fruit-based chocolates are the important factors driving the demand for the chocolates globally.

On the other hand, the sugar confectionery is estimated to be the most opportunistic market due to the rising adoption of low-calorie sugar substitutes in various sugar confectioneries. The taste bud satisfying feature of the sugar confectioneries coupled with the low or no negative impact on health is driving the sugar confectionery segment across the globe.

Distribution Channel Insights

By distribution channel, the supermarkets & hypermarkets segmentled the global confectionery market with remarkable revenue share in 2020 and is anticipated to retain its dominance throughout the forecast period. The supermarkets & hypermarkets offers discounted prices on popular brands and has high penetration in the developed markets like U.S., Germany, UK, France, Canada, Italy. This segment accounted for over 35% of the market share in 2020 and is estimated to remain the leading segment throughout the forecast period.

On the other hand, online stores is expected to be the most opportunistic segment during the forecast period. This is attributed to the rapid growth and popularity of online groceries and food delivery platforms across the globe.

Age Group Insights

By age group, the adult segmentled the global confectionery market with remarkable revenue share in 2020 and is anticipated to retain its dominance throughout the forecast period. This is mainly attributed to the increased consumption of different confectioneries among the millennials. The improved packaging, introduction of innovative flavors, and personalized services offered by the confectioners are the major driving force of this segment.

On the other hand, the geriatric segment is expected to grow rapidly during the forecast period. The population of the world is getting older. Therefore, the consumption habits of people is expected to boost the consumption of sugar-free confectioneries, thereby propelling the segment growth in the forthcoming years.

Region Insights

Based on the region, Europe dominated the global confectionery market with the highest revenue share in 2020 and is expected to sustain its significance throughout the forecast period. This is attributed to the highest per capita consumption of confectioneries in majority of the European countries such as Switzerland, Sweden, France, Italy, and Netherlands. Further, the growing consumer awareness regarding the side-effects of chemically produced raw materials like cocoa liquor used for making chocolates have exponentially boosted the demand for the organic chocolates in the region. The growing demand for the organic chocolate among the population is expected to be the major driver of the confectionery market in Europe during the forecast period.

On the other hand, Asia Pacific is estimated to be the fastest-growing confectionery market during the forecast period. The presence of huge youth population, rising disposable income, changing consumer lifestyle, demand for the premium products among the young population, and rising investments in the region by the major market players are the various important factors that are expected to foster the market growth across the region.

Some of the prominent players in the Confectionery Market include:

• Nestle S.A.
• The Hershey Company
• Mars Incorporated
• Ferrero Group
• Mondelez International, Inc.
• HariboGmbh& Co. K.G.
• Barry Callebaut
• Meiji Holdings
• Pladis Global
• Chocoladefabriken Lindt &Sprungli AG
• Ezaki Glico Co. Ltd.

Segments Covered in the Report

This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:

By Type

• Chocolate
• Sugar Confectionery
• Gums & Jellies
• Mints
• Others

 By Distribution Channel

• Supermarkets & Hypermarkets
• Pharmaceuticals
• Specialty Stores
• Convenience Stores
• Online Stores
• Others

By Age Group

• Adult
• Kids
• Geriatric

By Geography

North America

• U.S.
• Canada

Europe

• Germany
• France
• United Kingdom
• Rest of Europe

Asia Pacific

• China
• Japan
• India
• Southeast Asia
• Rest of Asia Pacific

Latin America

• Brazil
• Rest of Latin America

Middle East & Africa (MEA)

• GCC
• North Africa
• South Africa
• Rest of Middle East & Africa

Key Points Covered in Confectionery Market Study:

• Growth of Confectionery in 2022
• Market Estimates and Forecasts (2017-2030)
•  Brand Share and Market Share Analysis
•  Key Drivers and Restraints Shaping Market Growth
•  Segment-wise, Country-wise, and Region-wise Analysis
•  Competition Mapping and Benchmarking
•  Recommendation on Key Winning Strategies
•  COVID-19 Impact on Demand for Confectionery and How to Navigate
•  Key Product Innovations and Regulatory Climate
•  Confectionery Consumption Analysis
•  Confectionery Production Analysis
•  Confectionery and Management