The global confectionery products market will derive growth from increasing consumption of dark chocolate across the world. According to a report by Fortune Business Insights, titled “Confectionery Market Size, Share And Global Trend By Product Type (Chocolate Confectionery, Sugar Confectionery, Gum Products), By Distribution Channel (Supermarkets/Hypermarkets, Specialty Stores, Online Channels, Convenient Stores), And Geography Forecast Till 2026,” the market will expand considerably in the coming years with impetus from increasing demand for confectionery products and a subsequent uptake of comfort foods among end users across the world.
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Key players leading the Global Confectionery Market includes;
- The Hershey Company
- Elmer Chocolate
- EZAKI GLICO.
- Meiji Company Ltd.
- Mondelēz International and Grupo Arcor.
The growing demand for healthy comfort foods has created a subsequent demand for organic confectionery products. Increasing health awareness and the recent advancements in organic products have aided the growth of the global confectionery products market. The introduction of gluten-free and low-calorie chocolates has aided the demand for confectionery products in several parts of the world.
The use of natural sugar additives such as sugar as an alternative to its synthetic counterparts will add to the demand for confectionery products, which in turn will favor growth of the global market.
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Eveready’s Confectionary Market Debut to Enable Fresh Growth Trajectory
The global confectionery products market olds massive potential due to the presence of numerous market players and the high number of funds invested in the development of confectionery products. As companies are identifying the huge potential, several companies are leveraging from their core strategies and entering this market with high initial funds. In January 2018, Eveready, a leading battery manufacturer, announced the launch of its ‘Jollies’.
The company announced that Jollies will be its first-ever fruit-chew product. The company is focused mostly on batteries and this is its first-ever involvement in the food and beverage industry. The market has attracted companies from other industries due to the high number of growth opportunities. The report includes market activities, similar to Eveready’s involvement and this is likely to aid the growth of the global confectionery market in the coming years.
Segmentation for Confectionery Market
By Product Type
- Chocolate Confectionery
- Sugar Confectionery
- Gum Products
By Distribution Channel
- Specialty Stores
- Online Channels
- Convenient Stores
Mars Extends Product Sales in India
The demand for confectionery products has risen significantly in the past decade. With an aim to extend consumer coverage, companies are focusing on countries with a huge population. IN one such instance, Mars, a leading candy manufacturer, announced that it plans to extend its product sales in India. The announcement was made in 2017 when Mars announced that it plans to launch its famous ‘M&Ms’ candy into the massive Indian market.
The company believes that it will establish a stronghold in the market and the massive Indian population will help them cater to a wider audience. Fortune Business Insights states that the company’s latest business strategy will help them enhance their business and will create a huge potential for growth of the company. This, in turn, will have a positive impact in the global confectionery market. The report includes business strategies, similar to Mars’ latest product extensions and gauges their impact on the global market.
KEY QUESTIONS ANSWERED:
What is the market size and growth rate of the global and regional market by various segments?
What is the market size and growth rate of the market for selective countries?
Which region or sub-segment is expected to drive the market in the forecast period?
What Factors are estimated to drive and restrain the market growth?
What are the key technological and market trends shaping the market?
What are the key opportunities in the market?
What are the key companies operating in the market?
Which company accounted for the highest market share?
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