U.S (New York)– The “Confectionery Market ” 2023 research report appears to cover various aspects of the market, including the strategies of top players, market segments, competitive landscape, manufacturing, and pricing structures. In this report, we will provide an in-depth analysis of the current state of the global Bahrain Alcoholic Beverages Market, its key drivers and challenges, and its future prospects. This study contains research on market dynamics, such as SWOT, PESTLE, and Porter’s Five Forces analysis, as well as details about drivers, constraints, trends, and opportunities. These studies may assist in providing a thorough overview of the worldwide industry. Additionally, the key segments of the industry are evaluated according to their performance.
The confectionery market size is valued at $184,056 million in 2015 and is expected to reach $232,085 million by 2022, registering a CAGR of 3.4% from 2016 to 2022. Confectionery is associated with food products that contain high sugar content such as chocolates, gums, candies, caramel, sweets, cookies, and marshmallows. These food products are usually utilized to reduce stress, alleviate boredom, and satisfy cravings. Confectioneries can be preserved for long time and are consumed by all age groups. Cocoa products, flours, sorbitol, lecithins, oils & fats, sugar, and latex are some of the raw materials used in the industry. Dietetic and therapeutic confectionaries are also available in the market, which differ chemically from traditional confections.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
The confectionery market is driven by introduction of new products with innovative flavors & healthy ingredients, growth in retail market, rise in number of women workforce, and increase in gifting trend. Asia-Pacific is expected to register substantial growth in the market, owing to rise in disposable income and increase in population in emerging economies such as China and India. In addition, introduction of low priced, smaller versions of established confectionery chocolate brands by companies such as Nestle India Ltd. and Mondelez International, Inc. in India supplemented the market growth. Increase in raw material prices and diverse consumer spending habits restrain the growth of the market; however, rise in demand for sugar-free, organic, and low-calorie products and increase in disposable income in developing economies are anticipated to provide lucrative opportunities for the growth and development of the market.
The report segments confectionery market on the basis of type and geography. Based on type, the market is categorized into sugar, chocolate, fine bakery wares, and others. Others include gums, mints, and ice creams. Geographically, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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In October 2016, The Hershey Company launched Hershey’s Cookie Layer Crunch bar to cater to the growing demands for various snacking occasions and multi-textural eating experiences. In April 2015, BBX Sweet Holdings, LLC acquired Kencraft, Inc., a U.S.-based candies manufacturer, to expand its existing product portfolio in the confectionery business.
KEY BENEFITS FOR STAKEHOLDERS
This report provides a quantitative analysis of the current trends and estimations from 2014 to 2022 of confectionery market, which assist to identify the prevailing market opportunities.
Major countries in each region are mapped according to individual market revenue.
This study evaluates the competitive landscape to understand the competitive environment across the geographies.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Microlevel analysis is conducted based on type and region.
Leading players and their key developments in recent years are listed.
Major players operating in this market include the following:
Delfi Limited (Singapore)
Ezaki Glico Co., Ltd. (Japan)
Ferrero SpA (Italy)
Lindt & Sprungli AG (Switzerland)
Lotte Confectionery Co. Ltd. (South Korea)
Mars, Incorporated (U.S.)
Mondelez International, Inc. (U.S.)
Nestle S.A. (Switzerland)
The Hershey Company (U.S.)
Wm. Wrigley Jr. Company (U.S.)
OTHER KEY PLAYERS
Arcor Group (Argentina)
Brookside Foods Ltd. (Canada)
Candy Tops (Pty) Ltd. (South Africa)
Cloetta AB (Sweden)
Crown Confectionery Co., Ltd. (South Korea)
Dongguan Hsu-Fu-Chi Food Co. Ltd. (China)
DS Group (India)
Grupo Bimbo S.A.B. de C.V (Mexico)
HARIBO Dunhills (Pontefract) PLC (UK)
Intercontinental Great Brands LLC (U.S.)
ITC Limited (India)
Kerr Bros. Ltd. (Canada)
Meiji Co., Ltd. (Japan)
Morinaga & Co., Ltd. (Japan)
Orion International Euro, LLC (Russia)
Parle Products Pvt. Ltd. (India)
Perfetti Van Melle (India)
Specialty Food Association, Inc. (U.S.)
The Natural Confectionery Co. Pty Ltd. (Australia)
Unilever Plc (UK)
KEY MARKET SEGMENTS
By Type
Sugar
Hard-Boiled Sweets
Caramel & Toffees
Gums & Jellies
Medicated Confectionery
Mints
Others (Marshmallows, Nougat, Lollipops, and Liquorice)
Chocolate
White
Milk
Dark
Fine Bakery Wares
Others (Gums, Snack Products, Brand Ice Creams, and Raw Pastes)
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By Geography
North America
U.S.
Canada
Mexico
Others
Europe
UK
Germany
Italy
France
Spain
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Argentina
Turkey
Venezuala
Rest of LAMEA
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
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