Global Sugar Confectionery Market was Valued at US$ XX Mn in 2018, Owing to Increasing Demand for Premium Products and Organoleptic Properties and Growing Consumption of Sugar Confectionery Products
“The Global Sugar Confectionery Market was valued around US$ XX Mn by 2018 and growing at a significant CAGR over seven years forecast period 2019-2025” due to increasing demand for premium products and organoleptic properties and growing consumption of sugar confectionery products.
Precision Business Insights (PBI) in its report titled “Global Sugar Confectionery Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2018 and Forecast 2019-2025” assesses the market performance over seven years forecast period over 2019-2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The global sugar confectionery market was valued at US$ XX Mn in 2018 and growing at a significant CAGR over the forecast period owing to availability of new innovative products along with various flavors and increase in disposable income and gifting trends are major driving factors of sugar confectionery market over the forecast period. In addition, increasing demand for the privately labeled sugar confectionery and expansion of retail outlet fuels the growth of the market. However, growing awareness regarding health and rising prevalence of diabetes and obesity hinders the growth of the market
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Global sugar confectionery market segmented on the basis of product type and distribution channel.
Hard-Boiled Sweets Sugar Confectionery accounted for higher revenue share
Based on product type, global sugar confectionery market segmented into caramel and toffees, hard-boiled sweets, medicated confectionery, gums & jellies, mints, and others. Hard-Boiled sweets registered higher growth rate in 2018 and expected to dominate over the forecast period increasing demand for confectionery food products and introduction of various flavored products boosts the growth of the market. In addition, rising promotional activities and growing gifting trends and expansion of retail outlets fuel the growth of the market over forecast period.
North America leads the global Sugar Confectionery market
PBI’s global sugar confectionery market report analyses the market in different regions such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. According to regional analysis, North America holds larger revenue share in 2018 and the same trend is projected to follow over 2019-2025 due to more number of retail outlets and innovation of newer products and high per capita income and promotional activities drives the growth of the market over forecast years. Europe expected to witness the highest growth rate during the forecast period due to change in life styles and increasing gifting trends. Asia Pacific offers significant growth opportunities due to increasing population in China, India, and Japan.
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Acquisitions & Mergers and strategic alliances are the key strategies adopted by the market players
Global sugar confectionery market further reveals that the key player’s increasingly adopting strategies such as acquisitions & mergers and strategic alliance to improve market revenue share and strengthening their presence across the region. For instance, In January 2018, Ferrero group inked an agreement to acquire Nestlé’s U.S. confectionery business for strengthening its presence in U.S.
Key player’s profiles in the report are Cadbury PLC. (U.K), The Hershey Company (U.S.), HARIBO Dunhills (Pontefract) PLC (U.K), Ferrero SpA. (Italy), Lotte Confectionery Co Ltd (South Korea), Perfetti Van Melle S.P.A. (Italy), Nestle SA (Switzerland), Kraft Foods Inc. (U.S.), WM Wrigley JR Company (U.S.), and Lindt & Sprungli (Switzerland).
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By Product Type
Caramel and Toffees
Gums and Jellies
By Distribution Channel
Super markets & Hyper Markets
Rest of Europe
Australia & New Zealand
Rest of Asia-Pacific
Rest of World
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