Confectionery Market Size & Share Report, 2029

Confectionery Market

Confectionery Market was valued at USD 261.0 billion in 2021 and is projected to reach USD 360.0 billion in 2029, growing at a CAGR of 4.1% from 2022-2029

The factors driving the growth of Confectionery Market includes increase in the geriatric population around the world, growing consumption of milk chocolates, rising consumers preference for low sugar products and improvements in the living standards. In addition, rise in the launch of innovative products, growing adoption of advanced technologies by manufacturers, increasing availability of different variety of confectionaries at online stores and rapid urbanization, are some of the additional factors supplementing the Global Confectionery Market. Moreover, the increasing investments by major corporations on research and development, strategic mergers and alliances between companies and rising population growth rates, are further propelling the Confectionery Market size.

However, growth of the Confectionery Market is hindered due to increasing cases of obesity and diabetes worldwide.

Request a free sample of this report

The major players operating in the Confectionery Market are Meiji Holdings Co., Ltd., The Hershey Company, Chocoladefabriken Lindt & Sprungli AG, Mars, Incorporated, Ferrero International, Nestle S.A., Ezaki Glico Co., Ltd., Haribo GmbH & Co. KG, Mondelez International, Inc, and Lotte Confectionery Co. Ltd., among others.

Based on Type, the Snack Bar segment is predicted to grow at a significant CAGR during the forecast period

Growing demand for on-the-go snacks and chocolate products and increasing popularity of sugar free chocolates, are pushing Confectionery Market share.

Based on Distribution Channel, the Supermarket/Hypermarket segment is projected to capture the largest market share over the forecast period

Supermarkets offer wide range of confectionaries at discounted rates and provides free home delivery options on bulk orders, are some of the factors responsible for the segment’s growth.

Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period

As per the Confectionery Market Trends, increased adoption of advanced technologies by manufacturers, rising popularity of dark chocolates, easy availability of confectionaries at distribution channels and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.

Key Developments

  • In 2019, Mars Wrigley International Travel Retail (MITR), collaborated with Kind LLC, a provider of snacks. Through the partnership, both the company’s plans to strengthen their position in the international market.

  • In 2018, Ferrero International completed the acquisition of Nestle S.A.’s U.S confectionary business which includes, 20 brands including Crunch, BabyRuth, SweetTarts, Butterfinger, and others.

Market Segmentation

Segmentation by Type

  • Chocolate Confectionary

    • Dark Chocolate

    • White and Milk Chocolate

  • Sugar Confectionery

    • Boiled Sweets

    • Toffees, Caramels and Nougat

    • Pastilles, Gums, Jellies and Chews

    • Mints

    • Others

  • Snack Bar

    • Cereal Bars

    • Energy Bars

    • Others

Segmentation by Distribution Channel

  • Supermarket/Hypermarket

  • Specialist Retailers

  • Online Retail Stores

  • Convenience Stores

  • Other Distribution Channels

Segmentation by Region

  • Asia Pacific

    • China

    • Japan

    • India

    • Rest of APAC

  • North America

    • United States of America

    • Canada

  • Europe

    • United Kingdom

    • Germany

    • France

    • Spain

    • Rest of Europe

  • RoW

    • Brazil

    • South Africa

    • Saudi Arabia

    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact

Company Name: GMI RESEARCH

Contact Person: Sarah Nash

Email: enquiry@gmiresearch.com

Phone: Europe – +353 1 442 8820; US – +1 860 881 2270

Address: Dublin, Ireland

Website: https://www.gmiresearch.com/