Global Sugar Confectionery Market – Industry Trends and Forecast to 2030

Sugar Confectionery Market Analysis and Size

The global sugar confectionery market is a non-age-restricted segment. For the vast majority of the world's population, age has never been an impediment to indulging in sugar to satisfy their taste buds. For over a decade, the market has been growing steadily, and innovations in flavours and textures are contributing to the market's expansion.

Data Bridge Market Research analyses that the global sugar confectionery market which was growing at a value of USD 1.89 billion in 2022 is expected to reach the value of USD 2.52 billion by 2030, at a CAGR of 3.7% during the forecast period of 2023-2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Sugar Confectionery Market Scope and Segmentation

Market Definition

Sugar confectioneries are sweet-tasting food products that are high in sugar content, as the name implies. Confectioneries include items such as candies, chocolates, chewing gums, and a variety of other sugar-based products.

Global Sugar Confectionery Market Dynamics

Drivers

• Rising Expansion of Retail Channel for Distribution of Products

One of the key trends driving the evolution of the global sugar confectionery market is advancements in online retail. Convenience stores, specialty stores, supermarkets, drug stores, and hypermarkets are all large distribution channels for products. Continuous efforts by retailers and manufacturers to expand their supply and distribution chain have played an important role in increasing access to products in the sugar confectionery market.

• Diversification of Products according to the Needs

Globally, the number of health-conscious people is growing. Obesity, malnutrition, a weakened immune system, and other health issues are also on the rise. Furthermore, the prevalence of vitamin deficiency is increasing as a result of unscheduled mealtimes, hectic lifestyles, and nutritional loss during food processing. As a result of these factors, people are focusing on getting enough vitamins into their bodies to boost their immunity.

Opportunity

• Rising Use of E-Commerce Websites

The ease of payment for products through online channels, as well as the wide range of sugar flavours and textures, are important factors driving the popularity of e-commerce in the sugar confectionery market. Furthermore, sugar confectionery is increasingly being used in the formulation of a wide variety of beverages and confectionery products, such as cakes, milkshakes, croissants, and hot sugar, which is contributing to the global sugar confectionery market's growth.

Restraint/Challenge

• Volatility in Raw Material Prices

The raw material used for sugar confectionery   is derived from various natural sources, resulting in a However The high cost of R&D activities, as well as the volatility of raw material prices, will stymie the Sugar Confectionery market's growth rate. Other market growth restraints include rising obesity prevalence, high sugar levels in patients, and a rising incidence rate of diabetes globally.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

 Recent Developments

• In February 2022, Hershey's created a sugar bar to commemorate All Women and Girls. The "Celebrate SHE" bars are a limited edition. SHE was highlighted in the centre of the milk sugar bar by the brand
• In January 2022, Cadbury, a brand of Mondelez International, introduced the Twist Wrap packaging solution for its Duos range,, allowing consumers to snack in small portions by twisting and sealing the package after consuming half of the sugar bar
• In September 2021, collaboration with Lagardère, Ferrero will pre-launch the new Ferrero Rocher Tablets in the travel-retail channel.  Ferrero enters the sugar tablet market with the new product, which is available in three flavours: milk, dark 55 percent cocoa, and white.

Global Sugar Confectionery Market Scope

The global sugar confectionery market is segmented on the basis of type, packaging type and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Pastilles
• Gums
• Jellies
• Caramel and Toffees
• Hard-Boiled Sweets
• Medicated Confectionery
• Mints
• Others

Packaging type

• Sachet
• Box
• Others

Distribution channel

• Retail Stores
• Online stores
• Other

Global Sugar Confectionery Market Regional Analysis/Insights

The global sugar confectionery market is analysed and market size insights and trends are provided by country, type, packaging type and distribution channel.

The countries covered in the global sugar confectionery market report are U.S., Canada and Mexico in North America, Germany, Sweden, Poland, Denmark, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific is expected to dominate the global market during the forecast period due to rising demand for sugar confectionery products such as chocolates from emerging markets such as India and China. Furthermore, rising consumer health consciousness is expected to drive demand for sugar foods in Asia-Pacific.

North America is expected to grow in the forecast period of 2023 to 2030 owing to rising consumer preference for healthy living and increased spending on nutritional dietary supplements. Furthermore, key manufacturers like Mars Inc., Lindt, and Barry Callebaut have boosted product penetration in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data. 

Competitive Landscape and Global Sugar Confectionery Market Share Analysis

The global sugar confectionery market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to global sugar confectionery market.

Some of the major players operating in the global sugar confectionery market are:

• Barry Callebaut (Switzerland)
• Olam Group (Singapore)
• The Hershey Company (U.S.)
• Mars, Incorporated (U.S.)
• Ingredion (U.S.)
• DSM (Netherlands)
• Kerry Group plc (Ireland)
• Tate & Lyle (U.K.)
• Nestle SA (Switzerland)
• Cargill, Incorporated (U.S.)
• Blommer Chocolate Company (U.S.)
• Foley's Candies LP (Canada)
• PURATOS (Belgium)
• Ferrero (Italy)

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