Sugar Confectioneries are referred to as food products containing high sugar content such as candies, chocolates, caramels, gums, and cookies, and various types such as. In addition, they include variety of products from inexpensive, to individually wrapped sweets, and to sweets with sophisticated packaging. The global market was valued at $44,481 million in 2015, and is projected to reach $55,594 million by 2022, growing at a CAGR of 3.2% from 2016 to 2022. Asia-Pacific held more than two-fifths share of the global market in 2015.
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The factors that drive the growth of global sugar confectionery market include increase in the retail market and expansion of product portfolio. In addition, the increase in disposable income of consumers in developing countries and the shift of trend towards gifting confectionery items, incessant R&D, expansion by key players, emphasis on promotional activities & social media marketing, and advertising campaigns has led to augment in the global sugar confectionery market.
Regional Outlook:
In 2015, Asia-Pacific and North America collectively accounted for two-thirds share of the global sugar confectionery market, and are expected to continue this trend. China, India, and other developing countries are expected to witness high growth rate in Asia-Pacific during the forecast period
Leading Key Players
Nestl SA
Chupa Chups SA.
Cadbury PLC
Kraft Foods Inc.
Ferrero SpA.
The Hershey Company
Perfetti Van Melle S.P.A.
HARIBO Dunhills (Pontefract) PLC
Lotte Confectionery Co Ltd
WM Wrigley JR Company, and Lindt & Sprungli
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Based on product type, the market is segmented into hard-boiled sweets, caramels & toffies, gums & jellies, medicated confectionery, mints, and others. Hard-boiled sweets accounted for maximum share in the global sugar confectionery market in 2015. Caramels & toffies and gums & jellies segments collectively accounted for more than two-fifths of the market share in 2015.
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High raw material prices are expected to hamper the growth of this market in the near future. Moreover, the rise in demand for dark chocolates and sugar free chocolates are also anticipated to restrain the growth over the forecast period. Major factors projected to impede the market growth are the increase in awareness among consumers about health concerns and the rise in incidence of diabetes globally.
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