PUBLISHER: The Business Research Company | PRODUCT CODE: 1087188
PUBLISHER: The Business Research Company | PRODUCT CODE: 1087188
Sugar And Confectionery Products Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global sugar and confectionery product market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the sugar and confectionery product? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Sugar And Confectionery Product market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider sugar and confectionery product market, and compares it with other markets.
Markets Covered: 1) By Type: Sugar; Confectionery Product
2) By Price Point: Economy; Mid-Range; Luxury
3) By Distribution Channel: Supermarkets/Hypermarkets; Convenience Stores; E-Commerce; Other Distribution Channels
Subsegments Covered: Chocolate Confectionery; Sugar Confectionery; Gum Confectionery
Companies Mentioned: Mondelez International; Barry Callebaut AG; The Hershey Company; Nestle S.A.; Wilmar International Ltd.
Metrics Covered: Number of Enterprises; Number of Employees
Countries: Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita, sugar and confectionery product indicators comparison.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major companies in the sugar and confectionery products market include Mondelez International, Barry Callebaut AG, The Hershey Company, Nestle S.A., Wilmar International Ltd, Grupo Bimbo, S.A.B. de C.V., Chocoladefabriken Lindt & Spruengli AG, Louis Dreyfus, CJ Corp, and Yamazaki Baking Co. Ltd.
The global sugar and confectionery products market is expected to grow from $342.85 billion in 2021 to $372.32 billion in 2022 at a compound annual growth rate (CAGR) of 8.6%. The market is expected to grow to $498.24 billion in 2026 at a compound annual growth rate (CAGR) of 7.6%.
The sugar and confectionery products market consists of sales of sugar and confectionery products by entities (organizations, sole traders, and partnerships) that produce sugar and confectionery products. The companies in the sugar and confectionery products industry process agricultural inputs such as sugarcane, beet, and cacao into sugar and confectionery products such as chocolate, and package and distribute them through various distribution channels to both individual customers and commercial establishments.
The main types of sugar and confectionery products are sugar, confectionery product. Sugar is a sweet crystalline material made primarily of sucrose that is derived from several plants, particularly sugar cane and sugar beet, and employed as a sweetener in food and drink. The different price points include economy, mid-range, luxury and are distributed through various channels such as supermarkets/hypermarkets, convenience stores, e-commerce, Other Distribution Channels.
Asia Pacific was the largest region in the sugar and confectionery products market in 2021. Western Europe was the second-largest region in the sugar and confectionery products market. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The sugar and confectionery product manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), the global GDP growth reached 3.3% in 2020 and 3.4% in 2021. Recovering commodity prices, after a significant decline in the historic period is further expected to aid the market growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than the developed markets in the forecast period. Stable economic growth is expected to increase investments at the end-user markets, thereby driving the market during the forecast period.
The outbreak of Coronavirus disease (COVID-19) has acted as a massive restraint on the sugar and confectionery product manufacturing market in 2020 as supply chains were disrupted due to trade restrictions and consumption declined due to lockdowns imposed by governments globally. COVID-19 is an infectious disease with flu-like symptoms including fever, cough, and difficulty in breathing. The virus was first identified in 2019 in Wuhan, Hubei province of the People's Republic of China, and spread globally including Western Europe, North America, and Asia. Food and beverage manufacturers depend on the supply of raw materials from domestic and international suppliers. As many governments restricted the movement of goods across countries and locally, manufacturers had to halt production due to a lack of raw materials. Also, restrictions on the trade of non-essential goods and fear of contamination through manufacturing facilities contributed to the decline. The outbreak had a negative impact on businesses throughout 2020 and into 2021. However, it is expected that the sugar and confectionery product manufacturing market will recover from the shock across the forecast period as it is a 'black swan event and not related to ongoing or fundamental weaknesses in the market or the global economy.
Confectionery manufacturers are adding naturally occurring herbs and spices flavor to the confectionery market. Innovation has been key to the development of the confectionery market. According to the United States, Food and Drug Administration the term natural flavor or natural flavoring means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating or enzymolysis, which contains the flavoring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Using herbs and spices give manufacturer give innovation of new and unique taste profiles. For instance, Saltworks uses herbs and spices such as espresso, vintage merlot, roasted garlic, rosemary, black truffle, thai ginger, ghost pepper, lime, chipotle, jalapeno, habanero, and srircha.
The countries covered in the sugar and confectionery products market are Argentina; Australia; Austria; Belgium; Brazil; Canada; Chile; China; Colombia; Czech Republic; Denmark; Egypt; Finland; France; Germany; Hong Kong; India; Indonesia; Ireland; Israel; Italy; Japan; Malaysia; Mexico; Netherlands; New Zealand; Nigeria; Norway; Peru; Philippines; Poland; Portugal; Romania; Russia; Saudi Arabia; Singapore; South Africa; South Korea; Spain; Sweden; Switzerland; Thailand; Turkey; UAE; UK; USA; Venezuela; Vietnam.