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Confectionery Market Size 2020 to 2026 | This Study Will Perfect your Business, Read Or Miss Out!
Confectionery Market Size 2020 to 2026 | This Study Will Perfect your Business, Read Or Miss Out!
The global confectionery market size is projected to reach USD 245.28 billion by 2026, registering a CAGR of 3.23% during the forecast period.

The global confectionerymarket size is projected to reach USD 245.28 billion by 2026, registering aCAGR of 3.23% during the forecast period. Rising health consciousness amongconsumers will play a key role in augmenting the growth of this market, sharesFortune Business Insights™ in its recent report, titled “Confectionery MarketSize, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums),Distribution Channel (Hypermarket/Supermarket, Convenience Stores, DepartmentalStores, and Online Retails), and Regional Forecast, 2019 – 2026”. Manufacturedchocolate bars and candies are known to contain large amounts of artificialsweeteners. With increasing prevalence of lifestyle-related disorders, even themost ardent chocolate-lovers are getting increasingly inclined towards organicand natural ingredients-based products. For example, the Swiss chocolate-makerBarry Callebaut’s research found that the market value for organic chocolatescurrently stands at €30 million in Western Europe alone. This figure shows thatthe shifting consumer preference for chocolate and other confectionery itemsmade from naturally-derived extracts will lead the confectionery market trendsin the foreseeable future.

Market Driver

Hectic Lifestyles toFoster Sales Opportunities

Global economic growth and development have led to anexplosion of job and business opportunities. Greater access to education andskill development have expanded the number of employable people around theworld, resulting in more working people and more office spaces, especially inlarge urban conglomerations. As a result, modern lifestyles have become morehectic and stressful, with unfortunate consequence being on health and fitnessof people. Therefore, many consumers are now demanding on-the-go confectionerysnacks, preferably having low sugar and fat.

Chocolate, owing to its numerous health benefits, is themost consumed confectionery product in the world, and many companies are nowdeveloping sugar-free and organic chocolate items to cater to thehealth-conscious urban populace. Furthermore, chocolate consumption has positivephysiological effects. The Loma Linda University Adventist Health SciencesCenter in California found, through a research study, suggested that chocolateconsumption positively impacts brain health and reduces stress andinflammation.

Regional Analysis

Europe to Lead thePack; Asia-Pacific to Showcase Excellent Growth Trajectory

With a market share of 39% in 2018, Europe is slated todominate the confectionery market share in the coming years, primarily onaccount of high consumption chocolate items. Consumers are increasinglydemanding premium and customized confectionery products and are willing to payfor such items, prompting companies to manufacture and deliver superiorofferings in the region.

Asia-Pacific holds tremendous growth opportunities for thismarket owing to rising disposable income, increasing young and working-age population,and rapid urbanization. As a result, many players are implementing differentstrategies to establish themselves in the Asia-Pacific region, especially Chinaand India.

Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542