New York
City, 22 January 2019: The
global Sugar Confectionery Market size is anticipated
to reach USD 69.5 billion by 2026, according to a new research published by
Polaris Market Research. In 2017, the offline stores segment dominated the
global sugar confectionery industry, in terms of revenue. Asia-Pacific is
expected to grow at the highest rate during the forecast period.
A significant increase in population,
changing eating habits, and rising disposable income drive the market growth.
Other factors influencing the global sugar confectionery industry include
growing inclination towards gifting of confectionery products, and investments
by market players in promotional activities, advertising campaigns, and social
media marketing. Improvement in lifestyle due to rise in income level,
especially in the developing countries of Asia-Pacific, further fuels the
market growth.
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Factors such as increase in per capita
income, changes in consumer behavior, and rising trend of e-commerce are
expected to accelerate the growth of sugar confectionery industry in the coming
years. However, increasing health awareness, rising cases of obesity related
diseases, and shift in trend towards consumption of low calorie food are
expected to restrict the growth of the sugar confectionery industry. Increasing
demand from developing nations, rising demand for organic and premium chocolate
products, and growing trend of gifting confectionery products are factors
expected provide numerous growth opportunities to the market players during the
forecast period.
Competitive Landscape and Key Vendors:
Asia-Pacific is
expected to grow at the highest rate during the forecast period. The increasing
population in the region coupled with rising disposable income drives the market
growth in the region. The increasing demand of Sugar Confectionery in the
region is expected to be driven by growth in countries such as China, Japan,
and India. The development in retail market, stable economic growth, and
growing trend of using sugar confectionery as gifts supports the market growth
in the region.
The well-known companies profiled in
the sugar confectionery market analysis report include Nestle SA, Mondelez
International, Perfetti Van Meller, Lindt & Sprungli, Hershey Food Corp, Ferrero
Group, Mars Incorporated, Kraft Foods Co., WM Wrigley JR Company, and Haribo
GmbH & Co. KG among others. These companies are consistently launching new
products to enhance their offerings in the global sugar confectionery industry.
With change in lifestyles, companies are innovating and introducing new
products to cater the growing needs of the customers. Leading companies are
also acquiring other companies, and enhancing their product offerings to
improve their market reach. Acquisitions enable key players to increase their
market potential in terms of geographic expansion and expansion of customer
base.
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