Sugar Confectionery Market Size Estimated To Be Valued At $69.5 Billion By 2026: Polaris Market Research
The global sugar confectionery market size is anticipated to reach USD 69.5 billion by 2026, according to a new research published by Polaris Market Research. In 2017, the offline stores segment dominated the global sugar confectionery industry, in terms of revenue. Asia-Pacific is expected to grow at the highest rate during the forecast period. The report “Sugar Confectionery Market Share, Size, Trends & Industry Analysis Report, By Type (Hard-Boiled Sweets, Gums and Jellies, Caramels and Toffees, Medicated Confectionery, Others); By Distribution Channel; By Region: Segment Forecast, 2018 – 2026” provides an extensive analysis of present market dynamics and predicted future trends.
In 2017, During the forecast period, Asia-Pacific is expected to lead injection molded plastic market.
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A significant increase in population, changing eating habits, and rising disposable income drive the market growth. Other factors influencing the global sugar confectionery industry include growing inclination towards gifting of confectionery products, and investments by market players in promotional activities, advertising campaigns, and social media marketing. Improvement in lifestyle due to rise in income level, especially in the developing countries of Asia-Pacific, further fuels the market growth.
Factors such as increase in per capita income, changes in consumer behavior, and rising trend of e-commerce are expected to accelerate the growth of sugar confectionery industry in the coming years. However, increasing health awareness, rising cases of obesity related diseases, and shift in trend towards consumption of low calorie food are expected to restrict the growth of the sugar confectionery industry. Increasing demand from developing nations, rising demand for organic and premium chocolate products, and growing trend of gifting confectionery products are factors expected provide numerous growth opportunities to the market players during the forecast period.
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Asia-Pacific is expected to grow at the highest rate during the forecast period. The increasing population in the region coupled with rising disposable income drives the market growth in the region. The increasing demand of Sugar Confectionery in the region is expected to be driven by growth in countries such as China, Japan, and India. The development in retail market, stable economic growth, and growing trend of using sugar confectionery as gifts supports the market growth in the region.
The well-known companies profiled in the sugar confectionery market analysis report include Nestle SA, Mondelez International, Perfetti Van Meller, Lindt & Sprungli, Hershey Food Corp, Ferrero Group, Mars Incorporated, Kraft Foods Co., WM Wrigley JR Company, and Haribo GmbH & Co. KG among others. These companies are consistently launching new products to enhance their offerings in the global sugar confectionery industry. With change in lifestyles, companies are innovating and introducing new products to cater the growing needs of the customers. Leading companies are also acquiring other companies, and enhancing their product offerings to improve their market reach. Acquisitions enable key players to increase their market potential in terms of geographic expansion and expansion of customer base.
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Polaris Market Research has segmented the global sugar confectionery market on the basis of type, distribution channel and region:
Sugar Confectionery Type Outlook (Revenue, USD Billion, 2015 – 2026)
- Hard-Boiled Sweets
- Gums and Jellies
- Caramels and Toffees
- Medicated Confectionery
- Others
Sugar Confectionery Distribution Channel Outlook (Revenue, USD Billion, 2015 – 2026)
- Offline Stores
- Online Channels
Sugar Confectionery Regional Outlook (Revenue, USD Billion, 2015 – 2026)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Belgium
- Russia
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Korea
- Singapore
- Malaysia
- Indonesia
- Thailand
- Philippines
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
Leading Key Players of Sugar Confectionery Market
- Nestle SA
- Mondelez International
- Perfetti Van Melle
- Lindt & Sprungli
- Hershey Food Corp
- Ferrero Group
- Mars Incorporated
- Kraft Foods Co.
- WM Wrigley JR Company
- Haribo GmbH & Co. KG
About Polaris Market Research
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for our clientele spread across different enterprises. We at Polaris are obliged to serve our diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide our customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavour to deliver value-added business solutions to our customers.
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