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Description
Sugar Confectionery Market size was valued at USD 50.2 billion in 2021 and is expected to reach USD 69.2 billion by 2028, at a CAGR of 4.7% during the forecast period 2022 to 2028. Sweets are sugar confectionary that is consumed by people of all socioeconomic classes. Candies (also known as candy), candied nuts, chocolates, chewing gum, bubble gum, pastillage, and other sugar-based sweets are all examples of sugar confectionery. These companies offer a wide range of products, from individually wrapped sweets to sophisticated packaging for low-cost items. Expansion of sugar confectionery portfolio to retail market and innovation of newer products with different flavors are the primary factors upsurge the revenue of sugar confectionery market. Moreover, rise in disposable income, increase in the gifting trends, promotional activities and advertising campaigns by the market players, and rise in disposable income in emerging countries are expected to fuel the global market over the forecast years. However, rise in prevalence of diabetes and obesity, increase in the health awareness, and grow in inclination towards the dark chocolate may hinder the growth of market over the forecast period.
