The demand for Sugar Confectionery is Increasing In 2023
Sugar Confectionery Market Report, published by Allied Market Research, states that the global market was valued at $44,481 million in 2015, and is projected to reach $55,594 million by 2022, growing at a CAGR of 3.2% from 2016 to 2022. Asia-Pacific held more than two-fifths share of the global market in 2015. Sugar confectioneries are referred to as food products containing high sugar content such as candies, chocolates, caramels, gums, and cookies, and various types such as
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Key Companies Included:
The major companies profiled in the report include Nestl SA, Chupa Chups SA., Cadbury PLC, Kraft Foods Inc., Ferrero SpA., The Hershey Company, Perfetti Van Melle S.P.A., HARIBO Dunhills (Pontefract) PLC, Lotte Confectionery Co Ltd, WM Wrigley JR Company, and Lindt & Sprungli.
Key findings of the Sugar Confectionery Market:
In terms of value, medicated confectionery segment is expected to expand at a CAGR of 3.9% during the forecast period.
Asia-Pacific is estimated to maintain its lead position throughout 2022, growing at a CAGR of 4.2%, in terms of value.
China occupied approximately half of the total Asia-Pacific sugar confectionery market in 2015.
India is expected to grow at the highest CAGR of 5.1%, in terms of value.
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Based on product type, the market is segmented into hard-boiled sweets, caramels & toffies, gums & jellies, medicated confectionery, mints, and others. Hard-boiled sweets accounted for maximum share in the global sugar confectionery market in 2015. Caramels & toffies and gums & jellies segments collectively accounted for more than two-fifths of the market share in 2015.
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