Global Sugar Confectionery Products Market Report 2022: A $55 Billion Market by 2028 – Competitive Landscape, Size, Segments, Outlook, and Revenue Forecasts – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Global Sugar Confectionery Products Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Packaging Type, Distribution Channel, and Region” report has been added to ResearchAndMarkets.com’s offering.

According to this analysis, the Global Sugar Confectionery Products Market is expected to record a positive CAGR of ~4% during the forecast period (2022-2028) and is expected to reach approximately US$ 55 billion by 2028.

Sweets are sugar-based confections that are consumed by almost all socioeconomic categories. These goods come in a wide range of varieties, from individually wrapped candies to pricey goods in elegant packaging. The chosen type of confectioneries frequently varies by geographic region because of differences in regulatory norms and other considerations including economy, flavor, and customer desire.

The sugar confectionery market is in growth at a steady pace on account of the rise in demand for on-the-go snacks, an increase in gifting trends, the introduction of new products with innovative flavors & healthy ingredients, and growth in the retail market

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 forced to hunt for quick-to-prepare food items because they are unable to spend time cooking or dining out during their working hours.

Nowadays, as there are more consumers in the workplace, it is more difficult for them to maintain a healthy work-life balance. 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.

Strict government regulations to limit the market growth

Strict government regulations are anticipated to protect the quality of these items in nations including the USA, Germany, the UK, China, and India, which presents challenges for new market entrants. The hygienic standards for consumption are ensured by the established federal guidelines and rules which is putting pressure on the current organizations to match the standards

Given the implementation of numerous industrial trade and manufacturing restrictions during 2020, the COVID-19 pandemic had a moderate impact on the sugar confectionery business as evidenced by the dropping sales of snacks, notably sweets. To balance the rising COVID-related stress levels, consumers’ rising propensity and willingness to spend more on food products helped to improve product demand during the pandemic

Competitive Landscape

The Global Sugar Confectionery Products Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players.

Large global players constitute ~5%, while regional players hold a 30% share. Some of the major players in the market include Lotte Confectionery, Ferrero SpA, Perfetti Van Melle, The Hershey Company, Specialty Food Association, Inc., Nestle S.A., The Kraft Heinz Company, Jelly Belly Candy Company, Lindt & Sprungli AG, HARIBO of America, Inc., and others.

Key Trends by Market Segment

By Product Type: The hard-boiled sweets segment held the largest market share in the global sugar confectionery products market in 2021

By Packaging Type: The sachet segment held the largest share of the global sugar confectionery products market in 2021.

By Distribution Channel: The confectionery store distribution channel segment held the largest share of the global sugar confectionery products market in 2021.

By Geography: Asia Pacific accounted for the largest market share in 2021 within the total global sugar confectionery products market.

Recent Developments Related to Major and Emerging Companies

• In February 2022, Lotte Confectionery increased local production of its well-known Choco Pie chocolate desserts across the nation by investing US$ 28.5 million in Lotte KF RUS, its Russian subsidiary
• In November 2021, Lindt & Sprungli is reaffirming its dedication to Switzerland as its home base by investing the capacity increase at its production site in Olten. The Lindt Cocoa Center, which produces cocoa mass for all of Lindt’s production facilities in Europe, will be receiving an investment of almost 74 million Swiss francs by 2024
• In November 2022, Swedish confectionery expert Cloetta Global Travel Retail (GTR) plans to introduce a cutting-edge new product by 2032, Swedish confectionery expert Cloetta Global Travel Retail (GTR) plans to introduce a new product under its Red Band line.

Key Topics Covered in the Report

• Snapshot of the Global Sugar Confectionery Products Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Sugar Confectionery Products Market
• Historic Growth of the Overall Global Sugar Confectionery Products Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter’s 5 Forces Analysis of the Global Sugar Confectionery Products Market
• Overview, Product Offerings, and SWOT Analysis of Key Competitors
• COVID-19 Impact on the Overall Global Sugar Confectionery Products Market
• Future Market Forecast and Growth Rates of the Total Global Sugar Confectionery Products Market and by Segments
• Market Size of Product Type/Packaging Type Segments with Historical CAGR and Future Forecasts
• Analysis of the Sugar Confectionery Products Market in Major Regions
• Major Production/Consumption Hubs in the Major Regions
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Country

Major Players Mentioned in the report

• Lotte Confectionery
• Ferrero SpA
• Perfetti Van Melle
• The Hershey Company
• Specialty Food Association, Inc
• Nestle S.A
• The Kraft Heinz Company
• Jelly Belly Candy Company
• Lindt & Sprungli AG
• HARIBO of America, Inc
• AAK Confectionery Innovation
• Mondoux Confectionery
• IT’SUGAR
• Prizaco
• Shantou Yixin Food Co., Ltd
• Suntak Foods Manufacturing Co., Ltd

Scope of the Report

By Product Type

• Gums
• Jellies
• Hard-Boiled Sweets
• Caramel & Toffees
• Mints
• Medicated Confectionery
• Others

By Packaging Type

• Sachet
• Box
• Others

By Distribution Channel

• Hypermarket/Supermarket
• Departmental Store
• Confectionery Stores
• Online Retails

For more information about this report visit https://www.researchandmarkets.com/r/ite27k

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