Market Research Report
Global Sugar Confectionery Market Outlook, 2026
|Global Sugar Confectionery Market Outlook, 2026|
Published: October 9, 2021
Bonafide Research & Marketing Pvt. Ltd.
Content info: 190 Pages
Delivery time: 1-2 business days
The report titled 'Global Sugar Confectionery Market Outlook, 2026' published by identifies and discusses recent developments in sugar confectioneries across the globe. This report not only serves with the facts, figures, and forecasts but also has a detailed study about the Covid effect on the industry. As the name suggests, this sweet-tasting is loved by all age groups across the globe. The market has been in growth at a steady pace on account of the high demand from middle-class consumers. This market is divided into different product types of Hard Boiled Sweets, Plain Mints, Caramel/ Toffee, Chewy, Novelty, Licorice, Sugar-free, and Others, Children, Adult & Geriatric, in terms of age group, based on sales channel: Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, E-commerce & Others, and by region & country.
The major market drivers are the rise in disposable income & an increase in the population in emerging countries. The market of sugar confectionery in the period of 2015-2020 grew at a rate of 3.65%. With the changes in consumer preferences over time, the players have been actively involved in the introduction of different variants like low calorie and fiber-rich. Also, there has been a significant incline in the investments directed towards the promotional activities, point of purchase advertising campaigns & and social media marketing has been an added advantage to the industry growth. Through the forecasted period, the market is expected to reach a value of more than USD 65 Billion which is to be backed by the increasing urbanization which brought in lifestyle change. On the other hand, the incline in the health consciousness among the youngsters and the increasing diabetes traces in the early ages are the major market hampering factors.
Classified on the product type, the chewy confectionery segment is highly common, and thus leading the market with a value share of 37.99% in the year 2015. Without a doubt, diabetes is one of the fastest-growing health challenges of the 21st century, which is also a root cause of different health issues. This is much likely to push the sugar-free segment in the coming years which is to make it the fastest-growing segment in the forecasted period. Through the forecasted period, the sugar-free segment is expected to be growing at an anticipated growth rate of 6.34%. However, the plain mint segment and caramel/ toffee segment in the year 2026 together is expected to hold a share of little more than 6%.
By terms of age group, the market is led by the adult age group segment which held slightly lower than 50% of the market share. Globally, this segment has been showing a marginal incline over the period and also is to be the fastest-growing segment in the forecasted period. Following this, the geriatric age group segment had shown a considerable incline in the market in the historic period, but through the forecasted period, it is to be showing a decline in the share and reach to 9.49% share. By sales channel, the market is dominated by the convenience stores segment, which held nearly 40% of the market in the year 2015. Followed by this, was the supermarket/ hypermarket segment, which triggers the impulsive purchase decision of the customer through strategic placing. However, through the forecasted period, the e-commerce sales channel is expected to gain popularity given the number of internet portals coming up. The segment is expected to be growing at an anticipated CAGR of 6.88%, backed by the growing preference towards the number of discounts.
In terms of region, Europe held to a high share in the year 2015, which was at 40%, given its high production capacity, already established dominance in the chocolate segment. However, on the other hand, with the increasing population and the spending ability, the Asia Pacific region is expected to become a promising potential market in the coming period. The increasing online shopping and rising social media campaigns in the region support the growth. In the year 2026, the Latin America market, along with the Middle East & Africa market is expected to contribute to a share of less than 10%.
The leading companies are focusing on improvising their global position by enhancing their product line and through mergers & acquisitions. Understanding the changes in lifestyles, companies are now innovating and introducing new products to cater to the customers' growing needs.
Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., LOTTE CONFECTIONERY CO., LTD., Mondelez International, Lindt & Sprungli AG.