Confectionery Market Overview
Confectionery
Market size is estimated at $217 billion in 2020, projected to grow at a CAGR
of 3.8% during the forecast period 2021-2026. Confectionery are the products
used in making items like hard candies, chocolates, cookies, and chewing gum.
Cocoa powder, dairy ingredients, emulsifiers, stabilizers and thickeners (EST),
malts, oils & shortenings, sweeteners, starch & derivatives, and
flavors are among the most popular confectionery ingredients. Confectionery industry
has witnessed huge demand owing to the increasing demand for ready-to-eat food
in the market. Moreover, in order to improve the texture, mouthfeel and
stability of the product hydrocolloids are used as the gelling agent,
thickening agent and stabilizers in confectionery. Increased demand for
sugar-free products as a result of rising consumer health consciousness has
compelled confectionery manufacturers to research and develop new confectionery
products, which has aided the confectionery industry's development.
Furthermore, the increasing preference for natural ingredients among
confectionery manufacturers has provided an advantageous demand for
confectionery suppliers thereby driving the Confectionery Industry.
Confectionery Market Report Coverage
The report: “Confectionery Market Forecast (2021-2026)”,
by Industry ARC, covers an in-depth analysis of the following segments of the Confectionery Market.
By Ingredient
Type: Cocoa powder & Chocolate, Hydrocolloids,
Dairy Ingredients, Malts, Emulsifiers, Sweeteners, Starches & Derivatives,
Flavors, Oils & Shortenings and Others.
By Source: Natural and
Synthetic.
By Form: Dry and Liquid.
By
Application: Sugar Confectionery, Chocolate, Gum and Others.
By
Geography: North America
(U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and
Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia &
New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and
Rest of South America) and RoW (Middle East and Africa).
Key Takeaways
- Confectionery Market growth is being driven by an increase in demand for non-carbonated drinks owing to the increasing demand for gluten-free, clean, low-calorie, and low-carbon drinks.
- Geographically, Europe Confectionery Market held the largest revenue share of 36% in 2020 owing to the growing customer preference for various applications in the region. The scope of the Confectionery Market for various regions will be provided in the final report.
- The increasing demand for sugar free products, ready-to-eat products are driving the Confectionery Industry.
- The demand for items such as bread, cake, and cookies is rising rapidly, and the confectionery market is expected to rise as a result.
- However, regulations for the use of confectionery products in order to maintain international quality standards, volatile cocoa costs, and uncertainty about use due to health concerns are all holding the industry back.
Confectionery Market: Market Share (%) by Region, 2020
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Confectionery
Market Segment Analysis – By Ingredient
Type:
Based on Ingredient Type, Cocoa powder & Chocolate segment accounted for the largest revenue
market share in 2020. This is majorly attributed to its diverse applications,
not just on confectionery but also in baking like cookies, food processing and
food technology. Moreover, the antioxidant property of cocoa helps in controlling cholesterol and sugar levels. As cocoa is rich in polyphenols, it helps in
improving blood pressure, minimizing the risk of heart strokes and therefore
appeal to customers who prefer wholesome foods. Sweeteners are predicted to grow
with the fastest CAGR of 3.9% in the forecast period 2021-2026. Sweeteners are
food additives used to enhance the flavor of a number of foods. Many natural
sweeteners add to the benefit of sugar. Aware calorie consumers tend to eat
without weight loss. As they add sweetness without adding a lot of extra
calories. Almost no calories are present in many of these. The use of sugar
alternatives helps to avoid tooth decay as well thereby, driving the
Confectionery Market
Confectionery Market Segment Analysis – By Application:
Based on
Application, Chocolate
segment has accounted for largest revenue market share in the year 2020.
Chocolates contain high levels of antioxidants Some studies have indicated that
chocolate can decrease cholesterol and prevent deterioration in memory. Sugar
confectionery is anticipated to grow with the fastest CAGR of 4.2% in the
forecast period 2021-2026. This is mainly attributed to the rising demand for
various forms and colors of candies globally. In developing countries like
Brazil and India and in countries with historically low sugar consumption, like
China and Japan, confectionery consumption is increasing. Chocolate and
cookies consumption is rising as more wealthy societies emerge. Sweets
consumption in more developed countries has remained relatively flat year over
year, and in some cases has decreased, assisting the Confectionery Industry's
growth.
Confectionery Market Segment Analysis – By Geography:
Based on Geography, Europe Confectionery Market accounted for the 36% revenue share in 2020. This is majorly attributed to the established industries in this region, moreover it offers top quality confectionery globally. According to the Ministry of Foreign Affairs, Europe is a very diverse market for cocoa, which makes it very interesting. It has a thriving chocolate processing and manufacturing industry that needs large quantities of cocoa beans. Although the industry processes a lot of bulk cocoa, demand for specialty cocoa is on the rise. For the European cocoa industry and European chocolate consumers, sustainability is a critical problem. Since manufacturers in this region are focusing on developing benchmark items, Asia-Pacific is expected to be the fastest expanding market throughout the projected period 2021-2026. Owing to the steady increase in demand for candy products and cookies as a result of increased disposable income, procurement power, and industrialization in China and India, the range of confectionery has significantly expanded. Further, owing to the appropriate weather and operating benefits regional demand is anticipated to expand. Ease of business and wide range of application are also prominent factors in the Asia-Pacific economy which drive demand for confectionery Industry.
Confectionery Market - Drivers
The Growing Demand for Sugar Free Products:
The global confectionery market
is expected to be driven be the rising demand for sugar free products such as
obese and diabetic cakes, the industrialisation, increased purchasing power per
capita and the use of color naturally derived from specific color emulsion
technology. Moreover, the growth of the world's cakes market will be fuelled by
increased health awareness, evolving eating habits, lifestyle and innovation in
products. Moreover, diabetic cases have also provided a huge chance for
sugar-free products like dark chocolate & cookies. The U.S. Department of
Health and Human Services reported that in 2018, in the United States 34.2
million people had diabetes. It was also found that the proportion of diabetes
adults is increasing with age. Unlike 26.8% of the population aged 65 years or
over, 21.4% of all US adults 18 years old or older suffered from diabetes. All
these factors aids to the overall confectionery Industry growth. Also, owing to
the complicated issues that the food supply chain faces, food retailers are
requesting certificates from their suppliers, according to the Global Food
Safety Initiative (GFSI).
Confectionery Market - Challenges
Fluctuating Cocoa Prices:
Fluctuations in the price of cocoa, as well as
quality standards and norms for confectionery raw materials, are major market
constraints. As people strive for a healthy lifestyle, the market for
low-calorie foods is expected to rise. This pattern could stifle the market's
expansion. For instance, honey's popularity as a primary component in
confections among health-conscious consumers, owing to its natural sweetness,
is impeding the market's growth.
Confectionery
Market
- Landscape:
The Confectionery Market's main strategies include product
launches, mergers and acquisitions, joint ventures, and regional expansion. Confectionery Market top 10
companies are Arla Foods, Cargill, Inc., Archer Daniels Midland Company, Olam
International, Ingredion Inc., E.I. du Pont de Nemours and Co, Kerry Group plc,
Barry Callebaut, Tate & Lyle plc and Koninklijke DSM N.V.
Acquisitions/Product Launches:
- In November 2019, Olam International has acquired Dangote Flour Mills Plc, a pasta manufacturing company. This has aided in the growing demand for chemical-free and organic goods among consumers
- In January2019, Barry Callebaut, one of the world’s leading manufacturer of the high quality cocoa products has acquired Inforum, one of the leading Russian B2B manufacturer of chocolate, fillings, compound coatings.
Related
Reports:
Confectionery
Ingredients Market Forecast (2021-2026)
Report Code:
FBR 54131
Chocolate
Confectionery Market Forecast (2021-2026)
Report Code: FBR 0407
For more Food and Beverage Market reports, please click here
LIST OF TABLES
1.Global MARKET SEGMENTATION Market 2023-2030 ($M)1.1 Product Type Market 2023-2030 ($M) - Global Industry Research
1.1.1 Chocolate Confectionary Market 2023-2030 ($M)
1.1.2 Sugar Confectionery Market 2023-2030 ($M)
1.1.3 Snack Bar Market 2023-2030 ($M)
1.2 By Distribution Channel Market 2023-2030 ($M) - Global Industry Research
1.2.1 Supermarket/Hypermarket Market 2023-2030 ($M)
1.2.2 Specialist Retailers Market 2023-2030 ($M)
1.2.3 Online Retail Stores Market 2023-2030 ($M)
1.2.4 Convenience Stores Market 2023-2030 ($M)
2.Global COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
2.1 Most Active Companies Market 2023-2030 ($M) - Global Industry Research
2.2 Most Adopted Strategies Market 2023-2030 ($M) - Global Industry Research
3.Global MARKET SEGMENTATION Market 2023-2030 (Volume/Units)
3.1 Product Type Market 2023-2030 (Volume/Units) - Global Industry Research
3.1.1 Chocolate Confectionary Market 2023-2030 (Volume/Units)
3.1.2 Sugar Confectionery Market 2023-2030 (Volume/Units)
3.1.3 Snack Bar Market 2023-2030 (Volume/Units)
3.2 By Distribution Channel Market 2023-2030 (Volume/Units) - Global Industry Research
3.2.1 Supermarket/Hypermarket Market 2023-2030 (Volume/Units)
3.2.2 Specialist Retailers Market 2023-2030 (Volume/Units)
3.2.3 Online Retail Stores Market 2023-2030 (Volume/Units)
3.2.4 Convenience Stores Market 2023-2030 (Volume/Units)
4.Global COMPETITIVE LANDSCAPE Market 2023-2030 (Volume/Units)
4.1 Most Active Companies Market 2023-2030 (Volume/Units) - Global Industry Research
4.2 Most Adopted Strategies Market 2023-2030 (Volume/Units) - Global Industry Research
5.North America MARKET SEGMENTATION Market 2023-2030 ($M)
5.1 Product Type Market 2023-2030 ($M) - Regional Industry Research
5.1.1 Chocolate Confectionary Market 2023-2030 ($M)
5.1.2 Sugar Confectionery Market 2023-2030 ($M)
5.1.3 Snack Bar Market 2023-2030 ($M)
5.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
5.2.1 Supermarket/Hypermarket Market 2023-2030 ($M)
5.2.2 Specialist Retailers Market 2023-2030 ($M)
5.2.3 Online Retail Stores Market 2023-2030 ($M)
5.2.4 Convenience Stores Market 2023-2030 ($M)
6.North America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
6.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
6.2 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
7.South America MARKET SEGMENTATION Market 2023-2030 ($M)
7.1 Product Type Market 2023-2030 ($M) - Regional Industry Research
7.1.1 Chocolate Confectionary Market 2023-2030 ($M)
7.1.2 Sugar Confectionery Market 2023-2030 ($M)
7.1.3 Snack Bar Market 2023-2030 ($M)
7.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
7.2.1 Supermarket/Hypermarket Market 2023-2030 ($M)
7.2.2 Specialist Retailers Market 2023-2030 ($M)
7.2.3 Online Retail Stores Market 2023-2030 ($M)
7.2.4 Convenience Stores Market 2023-2030 ($M)
8.South America COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
8.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
8.2 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
9.Europe MARKET SEGMENTATION Market 2023-2030 ($M)
9.1 Product Type Market 2023-2030 ($M) - Regional Industry Research
9.1.1 Chocolate Confectionary Market 2023-2030 ($M)
9.1.2 Sugar Confectionery Market 2023-2030 ($M)
9.1.3 Snack Bar Market 2023-2030 ($M)
9.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
9.2.1 Supermarket/Hypermarket Market 2023-2030 ($M)
9.2.2 Specialist Retailers Market 2023-2030 ($M)
9.2.3 Online Retail Stores Market 2023-2030 ($M)
9.2.4 Convenience Stores Market 2023-2030 ($M)
10.Europe COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
10.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
10.2 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
11.APAC MARKET SEGMENTATION Market 2023-2030 ($M)
11.1 Product Type Market 2023-2030 ($M) - Regional Industry Research
11.1.1 Chocolate Confectionary Market 2023-2030 ($M)
11.1.2 Sugar Confectionery Market 2023-2030 ($M)
11.1.3 Snack Bar Market 2023-2030 ($M)
11.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
11.2.1 Supermarket/Hypermarket Market 2023-2030 ($M)
11.2.2 Specialist Retailers Market 2023-2030 ($M)
11.2.3 Online Retail Stores Market 2023-2030 ($M)
11.2.4 Convenience Stores Market 2023-2030 ($M)
12.APAC COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
12.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
12.2 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
13.MENA MARKET SEGMENTATION Market 2023-2030 ($M)
13.1 Product Type Market 2023-2030 ($M) - Regional Industry Research
13.1.1 Chocolate Confectionary Market 2023-2030 ($M)
13.1.2 Sugar Confectionery Market 2023-2030 ($M)
13.1.3 Snack Bar Market 2023-2030 ($M)
13.2 By Distribution Channel Market 2023-2030 ($M) - Regional Industry Research
13.2.1 Supermarket/Hypermarket Market 2023-2030 ($M)
13.2.2 Specialist Retailers Market 2023-2030 ($M)
13.2.3 Online Retail Stores Market 2023-2030 ($M)
13.2.4 Convenience Stores Market 2023-2030 ($M)
14.MENA COMPETITIVE LANDSCAPE Market 2023-2030 ($M)
14.1 Most Active Companies Market 2023-2030 ($M) - Regional Industry Research
14.2 Most Adopted Strategies Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Confectionery Market Revenue, 2023-2030 ($M)2.Canada Confectionery Market Revenue, 2023-2030 ($M)
3.Mexico Confectionery Market Revenue, 2023-2030 ($M)
4.Brazil Confectionery Market Revenue, 2023-2030 ($M)
5.Argentina Confectionery Market Revenue, 2023-2030 ($M)
6.Peru Confectionery Market Revenue, 2023-2030 ($M)
7.Colombia Confectionery Market Revenue, 2023-2030 ($M)
8.Chile Confectionery Market Revenue, 2023-2030 ($M)
9.Rest of South America Confectionery Market Revenue, 2023-2030 ($M)
10.UK Confectionery Market Revenue, 2023-2030 ($M)
11.Germany Confectionery Market Revenue, 2023-2030 ($M)
12.France Confectionery Market Revenue, 2023-2030 ($M)
13.Italy Confectionery Market Revenue, 2023-2030 ($M)
14.Spain Confectionery Market Revenue, 2023-2030 ($M)
15.Rest of Europe Confectionery Market Revenue, 2023-2030 ($M)
16.China Confectionery Market Revenue, 2023-2030 ($M)
17.India Confectionery Market Revenue, 2023-2030 ($M)
18.Japan Confectionery Market Revenue, 2023-2030 ($M)
19.South Korea Confectionery Market Revenue, 2023-2030 ($M)
20.South Africa Confectionery Market Revenue, 2023-2030 ($M)
21.North America Confectionery By Application
22.South America Confectionery By Application
23.Europe Confectionery By Application
24.APAC Confectionery By Application
25.MENA Confectionery By Application