Confectionery Market : Global Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis (2017-2021) and Forecast (2022-2028)

Description

Confectionery Market size was valued at USD 195.1 billion in 2021. It is expected to reach a value of USD 245.6 billion by 2028, growing at a CAGR of 3.9% during the forecast period from 2022 to 2028. The global market provides a detailed overview of the Confectionery market, and that has been segmented into product type, price point, age group, and distribution channel. By Product Type, the confectionery market has been segmented into Caramels and Toffees, Chocolate, Fine Bakery Wares, Gums & Jellies, Hard-boiled Sweets, and Medicated Confectionery, Mints, and Others. The Chocolate segment is likely to be the largest and fastest-growing segment in product type. Based on price point, the confectionery is segmented into Economy, Luxury, and Mid-Range. The Economy segment is expected to register the fastest growth rate during 2022-2028. Based on age group, the confectionery market is segmented into Adults, Children, and Geriatric. The Adult segment is the dominant segment in the forecast period. Based on the distribution channel, the confectionery market is segmented into Convenience Stores, Duty-free Outlets, E-commerce, Food Services, Pharmaceutical & Drug Stores, Supermarket/Hypermarket, and Others. According to precision business insights, supermarkets/Hypermarkets are predicted to hold the largest market share in the forecast period.

Key Development:

In 2020, Mondelez International Inc has patented a process that enables it to lower the sugar levels in its chocolate using soluble corn fiber; this has the potential to reduce the level of sugar in its products by up to 50% without compromising the flavor of the actual product.