Global Confectionery Market Insights and Forecast to 2028

Confectionery Market Report 2028

The global Confectionery market size is projected to reach US$ 23290 million by 2028, from US$ 17640 million in 2021, at a CAGR of 4.0% during 2022-2028. Consumer preferences, interests, and behaviors are always changing. This has sparked innovation in the confectionery market, which is fueling market expansion. To suit shifting consumer preferences, manufacturers are expanding their product line by using functional ingredients, organic herbal fillings, tropical fruit, and nut-based & exotic flavors in product formulations.

Additionally, the industry is primarily driven by customers' propensity to present these products, as well as increased disposable income and global urbanization.

Confectionery Market Trends

The Confectionery market is expanding as a result of consumers' constantly changing eating habits and consumer behavior. In recent years, there has been an increase in the popularity of consumer buying patterns for confectionary items created with natural ingredients. 

Additionally, during the course of the projected period, there will be a large increase in demand for sugar-free confectionery items due to their rising popularity and demand in developed nations. Consumer lives are also changing drastically, particularly with regard to daily eating and health. Numerous lifestyle problems, including diabetes, high blood pressure, etc., have increased as a result of these changes. Consumers are becoming increasingly concerned about obesity, overweight, and the diseases it causes, which is causing substantial problems for the sustainability of healthcare systems everywhere. To combat these disorders, consumers are gravitating more and more toward low-calorie and sugar-free food items. Consumers now consume less sugar as a result of increased health concerns. 

One of the main causes of the need for convenience snacks as part of the daily diet is rising modernization and a busy combination of work and personal commitments. Due to their busy schedules, customers are unable to prepare meals at home or eat out during business hours, which causes them to search for cuisine that can be prepared quickly. This factor is expected to increase the growth of the Confectionery market. Furthermore, in order to provide consumers with a balanced diet, producers and marketers are actively profiting from the introduction and promotion of a variety of chocolate snacks, including on-the-go snacks, chocolate bars, and others. They also concentrate on providing consumers with tiny, handy packaging that makes it possible for them to carry bars and sweets in their luggage. A spike in interest in dark chocolate is being attributed to its positive health effects.

Following the pandemic, there will be an increase in demand for organic Confectionery and goods made with natural components, which will present chances for market participants. Consequently, a robust Confectionery market growth rate is anticipated in the forecast years.

Confectionery Market Share Analysis

With a market share of roughly 45%, the chocolate segment held the largest market share based on type. Market expansion is accelerated by consumers of all ages' growing desire for and consumption of chocolate goods to satiate their taste senses. Additionally, when compared to other products around the world, chocolate is the confectionary that is consumed the most per person. Additionally, rising consumer demand for organic and premium chocolate products has predicted market expansion throughout the anticipated time frame.

Hypermarkets are expected to hold the largest market segment based on application. The segment's expansion is projected to be fueled by consumers' ease of access to and browsing of a variety of confectionery products in stores. The growing customer demand for chocolate, cookies, and ice cream is also encouraging manufacturers to create new stores in malls, which is boosting the development of the hypermarket industry.

With a combined share of nearly 55%, North America and Asia-Pacific are the next largest markets after Europe, which has a share of roughly 30%.

Segment by Type

• Sugar Confectionery
• Chocolate
• Gum
• Pastilles
• Segment by Sales Channel
• Hypermarkets
• Supermarkets
• Small Retail Shops
• Online

BY COMPANY

• Mars, Incorporated
• Mondelez International
• Nestle
• Meiji Holdings
• Ferrero Group
• The Hershey Company
• Arcor
• Perfetti Van Melle
• Haribo
• Lindt and Sprüngli
• Barry Callebaut
• Yıldız Holding
• August Storck
• General Mills
• Orion Confectionery
• United Confectioners
• LOTTE Confectionery
• Bourbon
• Crown Confectionary
• ROSHEN Corporation
• Ferrara Candy Company
• Orkla ASA
• Raisio Group
• Morinaga and Company
• Cemoi
• Jelly Belly Candy Company
• Cloetta AB
• Ritter Sport
• Petra Foods Limited
• Amul

BY REGION

• North America
• United States
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Confectionery Market Scope