Sugar confectionaries include sweet or sugar based food items, which are normally eaten as snacks. Boiled sweets, medicated confectionery, lollipops, gums, caramels, jellies and toffees are some examples of such products. The market for sugar confectionary is likely to grow at a rapid pace owing to the continuous product innovation and increasing trend of gifting these food items in various occasions and parties. Moreover, wide availability of these products through various distribution channels, such as supermarkets, hypermarkets, and retail stores among others is likely to fuel the growth of this market. Increasing demand for organic and natural candies and other premium products is likely to create ample opportunity for the expansion of this market in near future. In addition, rural areas across the world serve as an untapped market for sugar confectionaries. However, factors such as growing consciousness towards health and wellness and increasing number of patients with diabetes are expected to restrain the growth of sugar confectionaries market to some extent. Sugar confectionaries contain high amount of sugar, which if consumed for prolonged time, can result in obesity and other diseases. In addition, rising consumer preference towards dark chocolate is another factor hindering the development of market.
The sugar confectionaries market is bifurcated into product type and geography. On the basis of product type, the market is divided into lollipops, boiled sweets, medicated confectionery, pastilles, mint, gums, chews and jellies, nougat, caramels and toffees among others. There is huge demand for boiled sweets globally, owing to the increasing trend of consumption of snacks between meals and high nutritional content of these products. Factors such as affordable price and popularity of boiled sweets are anticipated to fuel the growth of overall market for sugar confectionery. However, there has been an increasing health concern regarding consumption of pastilles, gums, jellies and chews, owing to obesity problems associated with these food items. Thus, leading manufacturers are continuously indulged in improving these products and developing items that are gluten free. Moreover, the market for toffees, nougat and caramel is expected to witness strong growth, due to increasing promotional activities of these products by local and multinational companies. Medicated confectioneries are widely used in drug formulation for conditions like cold, congestion of respiratory tract, allergies and cough.
On the basis of geography, the sugar confectionaries market is divided into North America, Europe, Asia-Pacific, Middle East & Africa (MEA) and Latin America. There is a significant demand for confectionary products in North America and Europe. Moreover, large numbers of companies have their presence in these regions owing to huge customer base. Asia-Pacific is projected to grow at the highest CAGR, primarily due to increasing disposable income and growing retail industry in this region. Moreover, there has been a decrease in prices of sugar confectionaries, owing to huge capital investments by leading companies in developing nations. The market is also anticipated to witness strong growth in Latin America. The major reason is attributed to improvement in sugar confectionery products and immense growth of sugarcane industry in Brazil and Argentina among others. In addition, the consumption of pastilles, candy, nougat and gum is expected to increase in these regions as substitutes for chocolate. These factors are motivating local manufacturers to significantly invest in this market in Latin America.
Some of the major players operating in the sugar confectionary market are Mondelez International, Mars Inc., The Hershey Company, Ferrero SpA, Lindt & Sprungli AG, Nestle S.A., Perfetti Van Mella SpA, Lotte Confectionery Co. Ltd., United Confectionery, Yildiz Holding, WM Wrigley JR and Zachary Confections among others.
Market by Product
· Boiled sweets
· Medicated confectionery
· Chews and jellies
Makret by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
Introduction According to Acumen Research and Consulting, the global Feed Micronutrients market is expected to grow at noteworthy CAGR around 7.1 % throughout the forecast period and reach around US$ 2.2 billion by 2026. Feed micronutrients are essential additives of animal feed that are added to the feed of animals unable to ac
Introduction According to Acumen Research and Consulting, the global enzymes market is projected to grow at remarkable CAGR around 6.8% throughout the forecast period and reach around US$ 8.6 billion by 2026. Due to increasing awareness of food safety & security, shifting consumers ' preferences to packaged and processed foo
According to Acumen Research and Consulting, the global Frozen Dessert market is expected to grow at noteworthy CAGR around 5.8 % throughout the forecast period and reach around US$ 120 billion by 2026. Frozen desserts are usually eaten as sweets like frozen ice cream and frozen yoghurt. The majority of these products, such as milk and cream, are made from milk. There are several v
Introduction According to Acumen Research and Consulting, the global Probiotics market is expected to grow at noteworthy CAGR around 6.6 % throughout the forecast period and reach around US$ 78 billion by 2026. The effect of the busy, contemporary lifestyle is that people's intake of healthy food is restricted and sometimes the
Introduction: A dietary supplement is a made item expected to supplement the eating routine when taken by mouth as a pill, container, tablet, or fluid. A supplement can give supplements either extricated from nourishment sources or engineered, independently or in the mix, so as to build the amount of their utilization. The US FDA has characteriz
Introduction According to Acumen Research and Consulting, the global vegan food market size is expected to reach around US$ 24.3 billion by 2026 and will grow at noteworthy CAGR around 9.1 % throughout the forecast period 2019-2026. Vegan relates either to a individual who eats or to the diet itself. In other words, the term veg