Category: Confectionery Market
Market Overview
The global confectionery market growth is on a steady upward trend, with the market size valued at USD 206.97 billion in 2023. Projections show this expansion continuing, with the market expected to grow from USD 213.74 billion in 2024 to USD 278.36 billion by 2032, reflecting a CAGR of 3.36% over the forecast period.
In 2023, Europe dominated the market with a 38.38% share. Furthermore, the U.S. is set to be a significant driver of future confectionery market growth , with its market size projected to reach an estimated USD 36.09 billion by 2032. This is fueled by consumers' willingness to spend on artisanal products and the development of new production facilities in the region.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market size was valued at USD 206.97 billion in 2023 and is projected to grow from USD 213.74 billion in 2024 to USD 278.36 billion by 2032, exhibiting a CAGR of 3.36% during the forecast period. Europe dominated the confectionery market with a market share of 38.38% in 2023. The market has been significantly impacted by the COVID-19 pandemic, which caused a decline in 2020 but is now returning to pre-pandemic growth levels. A key driver for the market is the increasing consumer demand for premium and artisanal products, particularly in developed regions. This trend is also growing rapidly in developing regions due to rising disposable incomes and western influence.
List of Key Market Players:
- Barry Callebaut (Zürich, Switzerland)
- Ferrero SpA (Alba, Italy)
- Nestle S.A. (Vevey, Switzerland)
- Mondelez International, Inc. (Illinois, U.S.)
- Meiji Holdings Co., Ltd. (Tokyo, Japan)
- The Hershey Company (Pennsylvania, U.S.)
- Chocoladefabriken Lindt & Sprungli AG (Zürich, Switzerland)
- Ezaki Glico Co., Ltd. (Osaka, Japan)
- HARIBO GmbH & Co. KG (Bonn, Germany)
- Pladis Global (London, U.K.)
Segmentation
By Type, Chocolate Confectionery to be the Leading Segment
On the basis of type, the market is divided into chocolate, sugar, and gums. The chocolate confectionery segment is the global leader and shows immense growth potential, particularly in developing economies, driven by rising disposable income and westernization. The sugar and gums segment also holds a major share, propelled by innovations in candies and snack bars that appeal to children, young adults, and the working population.
By Product Range, Premium Variant to be Leading Segment
The premium product range is showing significant growth and is a key driver for the market. This trend is driven by consumers in developed regions demanding high-quality, artisanal products and is rapidly growing in developing regions due to rising incomes and international trade. Manufacturers are launching premium lines with different flavors and ingredients to meet this demand.
By Distribution Channel, Mass Merchandisers to be the Major Distribution Channel
Mass merchandisers, such as supermarkets and hypermarkets, are the leading sales channel and are anticipated to dominate the market share. These channels offer consumers a wide product range, freedom of selection, and the convenience of one-stop shopping. However, manufacturers are also focusing on smaller, convenient packs to promote sales through other channels like convenience stores, departmental stores, and online retail.
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
Report Coverage
The market research report provides qualitative and quantitative insights into the market. It also offers a detailed analysis of the market size and growth rate for all the segments. Various key insights presented in the report are an overview of related markets, competitive landscape, recent industry developments such as mergers & acquisitions, the regulatory scenario in critical countries, and key confectionery market trends.
Drivers & Restraints
Market Growth is driven by Demand for Convenient and Healthier Options
One of the primary drivers is the rising emergence of on-the-go snacking due to consumers' hectic lifestyles. Chocolate bars and convenient packs offer a quick and easy food option. Additionally, there is a growing consumer inclination towards healthier choices, fueling demand for organic, low-calorie, and sugar-free chocolates and candies. The perceived health benefits of dark chocolate, such as its antioxidant properties, are also propelling market growth.
Fluctuations in Raw Material Prices May Impede Growth
The market's performance is restrained by the price volatility of essential raw materials like cocoa and sugar. Production yields can be affected by unfavorable weather, crop diseases, and economic factors, leading to fluctuations in supply and demand. This price instability can hamper production and dampen overall market growth.
Regional Insights
Europe Held the Dominant Position in the Market
Europe holds the largest market share, valued at USD 73.41 billion in 2020. This dominance is due to strong consumer preference for premium and quality chocolates, driven by taste preferences and permissive eating habits. Countries like the U.K., Germany, and Austria have consumption rates up to five times the global average.
Asia Pacific is the second-largest market and holds immense growth potential. The market is fueled by rapid urbanization, rising disposable incomes, and the popularity of convenient consumer packs among a young and dynamic population.
North America is witnessing significant growth, with consumers increasingly viewing confectionery as a comfort food. The trend of between-meal snacking and a willingness to spend on artisanal products, especially in the U.S., supports market expansion.
South America is expected to experience slower growth due to economic constraints and health concerns. However, chocolate is still preferred over sugar confectionery in the region due to its perception as a premium product.
Competitive Landscape
Companies Focus on Strengthening Distribution to Remain Competitive
The market is highly consolidated, with a few key players like Barry Callebaut, Ferrero SpA, and Nestle S.A. dominating. These prominent companies are focusing on reinforcing their distribution networks, implementing cost-reduction strategies, and ensuring strategic product placement in the global marketplace to maintain their competitive edge.
Notable Industry Development
- May 2023: Ferrero North America announced new products and seasonal lines, including Kinder Chocolate, at the Sweets & Snacks Expo in Chicago.
- March 2023: The Hershey Company launched a new plant-based product under its Reese's brand to cater to the growing vegan consumer base.
- November 2022: Barry Callebaut announced the launch of a new factory in India, intended to be its largest chocolate production facility in the Asia Pacific region.
Market Overview
The global confectionery market size was USD 206.97 billion in 2023 and is projected to grow from USD 213.74 billion in 2024 to USD 278.36 billion by 2032 at a CAGR of 3.36% over the 2024-2032 period. Europe dominated the confectionery market with a market share of 38.38% in 2023. Moreover, the confectionery market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 36.09 billion by 2032, driven by consumers willingness to spend on artisanal confectionery products and emerging production facilities in the region.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market size was USD 206.97 billion in 2023 and is projected to grow from USD 213.74 billion in 2024 to USD 278.36 billion by 2032 at a CAGR of 3.36% over the 2024-2032 period. Europe dominated the confectionery market with a market share of 38.38% in 2023. Moreover, the confectionery market size in the U.S. is projected to grow significantly, reaching an estimated value of USD 36.09 billion by 2032, driven by consumers' willingness to spend on artisanal confectionery products and emerging production facilities in the region.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
Market Overview
The global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “ Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032 ”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate choose products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want will soon affect the chocolate market.
List of Key Players Covered in the Report:
- Super Confectionery
- Ezaki Glico Co., Ltd.
- The Hershey Company
- Mondelez International
- Ferrero SpA
- HARIBO GmbH & Co. KG
- Chocoladefabriken Lindt & Sprungli AG
- Meiji Holdings Co., Ltd.
- Nestle S.A.
- Barry Callebaut
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions:
- What are the major factors driving the market?
- What are the main hurdles that the market is facing and will face in the future?
- What are the key market segments?
- Which region or regions hold the largest potential for the market to grow?
- How are the competitive dynamics shaping the market?
- Who are the prominent players in this market, and what are their key strategies?
Market Driver
Hectic Lifestyles to Foster Sales Opportunities
As the global economy continues to grow, it is generating more employment opportunities and encouraging business development. This economic expansion enables greater access to education and skill-building, resulting in a larger workforce and increased demand for office space, particularly in major urban centers. However, the fast-paced lifestyle that accompanies this growth is contributing to rising levels of stress and poor health. In response, consumers are increasingly seeking convenient, healthier snack options that are low in sugar and fat. Chocolate has emerged as a top choice, not only for its taste but also for its potential health benefits. To meet this demand, companies are introducing sugar-free and organic chocolate products that cater to health-conscious consumers. Research from Loma Linda University supports these trends, showing that chocolate may enhance brain function, reduce stress, and decrease inflammation.
The Sweet Spot: Understanding the Confectionery Market
The confectionery market covers many types of sweets like chocolates and candies, worth billions, and growing every year. People are buying more sweets because they enjoy them and find comfort in them.
Trends Driving the Market
- Healthier Options
People want candy that's not just tasty but also good for them. They look for sweets with less sugar, that are organic, or that use natural ingredients. This has made it easier to find healthier candy choices.
- Expensive and Unique
People are ready to spend more on candy that's special and made by hand. They enjoy buying high-quality, unique candies that give them a special experience.
- Creative Flavors
Candy companies are always coming up with new flavors and ways to make candy. From candies with exotic fruits to spicy-sweet ones, there's a lot of creative candy out there to try.
Regional Analysis
Europe to Lead the Pack; Asia-Pacific to Showcase Excellent Growth Trajectory
Europe is expected to lead the confectionery market with 39% market share in 2018, mainly due to high demand for premium chocolate products. People want unique and high-quality sweets and are ready to pay for them, leading companies to improve their products in Europe. Asia-Pacific also has great potential for growth because of more money available, a growing number of young and working people, and fast city growth. This has led many companies to try to enter the Asian market, especially China and India, by using various strategies.
Competitive Landscape
Launch of Natural Extracts-derived Products to Spur Competition
The candy market is expected to be very competitive as companies try to keep up with the increasing demand for organic candies. They are also looking to sell their products in more countries by launching new items.
Industry Developments:
- May 2023: Ferrero North America, one of the leading chocolate manufacturers in the U.S., announced new products and seasonal product lines, including products, such as Kinder Chocolate, at the annual expo of sweets & snacks in Chicago.
