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Confectionery Market To Reach USD 2,83,327.89 Million By Year 2030

The Global Confectionery Market size was valued at USD 2,12,429.73 Million in 2023 and is projected to reach USD 2,83,327.89 Million by 2030, growing at a CAGR of 4.20% from 2023 to 2030.

Swati Kalagate
Food and Beverages
Pristine Intelligence LLP

Market Overview:

The Global Confectionery Market size was valued at USD 2,12,429.73 Million in 2023 and is projected to reach USD 2,83,327.89 Million by 2030, growing at a CAGR of 4.20% from 2023 to 2030.

Confectionery, the craft of creating sugary delights, offers a plethora of snacking options, including chocolates, candies, and gum, prized for their convenience and diverse flavors. Frequently bought on impulse, they tempt consumers at checkout counters with enticing packaging and promotional deals. Beyond snacking, confectionery ingredients like chocolate chips and sprinkles elevate desserts and baked goods, enhancing both taste and presentation. In the hospitality industry, these treats feature prominently on dessert menus, buffet spreads, and post-meal offerings in eateries and hotels. Furthermore, confectionery delights play a central role in children's celebrations, with candies and chocolates often adorning party favors and delighting young guests at birthday parties and special events.

Top Key Players Covered in The Confectionery Market:

    • Mars, Incorporated (US)
    • Mondelez International, Inc. (US)
    • Nestlé S.A. (Switzerland)
    • Meiji Holdings Co., Ltd. (Japan)
    • Cadbury PLC (United Kingdom)
    • The Kraft Heinz Company (US)
    • Ferrara Candy Company, Inc. (US)
    • Yildiz Holding (Turkey)
    • Parle Products Pvt. Ltd. (India) and Other Major Players.

Market Dynamics and Factors:         

Globalization has significantly impacted the confectionery market dynamics by facilitating easier access to diverse products from around the world. This has led to a growing consumer exposure to international confectionery brands, flavors, and formats, fueling a demand for novelty and exotic experiences. Cross-cultural influences have further stimulated an appreciation for unique flavors, textures, and ingredients, driving innovation in product development.

Increased international travel and tourism have facilitated the exchange of confectionery preferences, with travelers often introducing new products to their home markets. The emergence of fusion and hybrid confectionery products, blending various cultural influences, caters to consumers' cravings for novel taste sensations, thereby propelling market expansion.

Cultural celebrations and festivals play a significant role in promoting confectionery consumption, with companies capitalizing on these occasions by offering special edition products and packaging. Customization has emerged as a key market trend, allowing consumers to tailor their confectionery experience by selecting flavors, ingredients, and packaging designs. This personalization fosters a deeper connection with the brand, enhancing customer loyalty and engagement.

Furthermore, personalized confectionery products are particularly sought after for gifting purposes, offering consumers the opportunity to create unique and memorable experiences for special occasions. By embracing customization, confectionery companies can differentiate themselves in a competitive market landscape, catering to specific consumer preferences and niche segments.

Overall, the interplay of globalization, cross-cultural influences, and customization trends shapes the dynamic confectionery market, driving innovation, expanding consumer choices, and fostering deeper brand-consumer connections.

The Confectionery Market Report Highlight:

    • By Type, the segment encompasses various types, including chocolates, candies, gums, and mints. Each segment offers distinct flavors, textures, and consumption experiences, catering to diverse consumer preferences and occasions. These segments drive innovation and competition, shaping the dynamic landscape of the confectionery industry.
    • By Age Group, the segment caters to diverse age groups, with products tailored to meet specific preferences and nutritional needs. Children are targeted with colorful and fun candies, chocolates, and lollipops, while adults may prefer premium chocolates, gourmet treats, and healthier snack options. The seniors may seek sugar-free or low-sugar confectionery items to align with dietary restrictions and health concerns.
    • By Region, The European confectionery market holds a significant global share, boasting steady growth fueled by consumer demand, innovation, and premium offerings. While growth rates vary, there are ample opportunities for expansion and product development. Healthier options are in demand, with a preference for reduced-sugar, organic, and natural ingredient-based products. Manufacturers respond by introducing such alternatives. There's a rising interest in on-the-go snacks, portion-controlled treats, and individually wrapped items, catering to busy lifestyles. Single-serve formats and resealable packaging meet consumer needs for convenience and portability.

Key Industry Development:

    • In April 2023, Nestlé and private equity firm PAI Partners announced the formation of a joint venture for Nestlé's frozen pizza business in Europe. The venture aims to establish a dedicated player in the fiercely competitive frozen pizza market. Nestlé will retain a non-controlling stake with equal voting rights alongside PAI Partners. The transaction awaits employee consultations and regulatory approvals, with closure anticipated in the latter half of 2023. Financial terms remain undisclosed.
    • In August 2022, MONDELĒZ International finalized the acquisition of CLIF BAR & COMPANY, a leading U.S. player in the rapidly growing energy bars sector. This acquisition expands MONDELĒZ International’s global snack bar business to over $1 billion, bolstering its portfolio with renowned brands like CLIF®, CLIF Kid®, and LUNA®. It also complements the company’s existing refrigerated snacking business Perfect Snacks in the U.S. and performance nutrition business Grenade in the U.K., aligning with MONDELĒZ's strategy to drive higher and sustainable growth.

The Confectionery Market Segmentation:

By Type

    • Mints
    • Gums
    • Jellies
    • Chocolate

By Age Group

    • Children
    • Adult
    • Geriatric

By Distribution Channel

    • Supermarket/Hypermarket
    • Convenience Stores
    • Pharmaceutical & Drug Stores
    • Online

For this report, Pristine Intelligence has segmented the Confectionery Market based on region:

Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)

North America

    • The U.S.
    • Canada
    • Mexico

Eastern Europe

    • Bulgaria
    • The Czech Republic
    • Hungary
    • Poland
    • Romania
    • Rest of Eastern Europe

Western Europe

    • Germany
    • UK
    • France
    • Netherlands
    • Italy
    • Russia
    • Spain
    • Rest of Western Europe

Asia Pacific

    • China
    • India
    • Japan
    • South Korea
    • Malaysia
    • Thailand
    • Vietnam
    • The Philippines
    • Australia
    • New-Zealand
    • Rest of APAC

Middle East & Africa

    • Turkey
    • Bahrain
    • Kuwait
    • Saudi Arabia
    • Qatar
    • UAE
    • Israel
    • South Africa

South America

    • Brazil
    • Argentina
    • Rest of SA
Pristine Intelligence LLP

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