Global Confectionery Market to See High Growth in Developing Countries, Forecasts MarketLine in Its Report Published at MarketPublishers.com23 Nov 2016 • by Natalie Aster
LONDON – Confectionery represents a profitable business involving players from all over the globe. As of 2015, a value of this market stood at slightly over USD 158 billion. It is set to grow further, with its CAGR being approximately 4% over the period 2015-2020.
Developing countries (the ones in APAC, in particular) are set to witness robust growth of this marketplace. North American markets are set to grow swiftly, as well. However, the Latin American marketplace is forecast to experience a decline.
Consumers in developed markets like the UK, France and the U.S. are increasingly interested in novel (mainly exotic) flavors, while in developing markets products with nostalgic flavors are also popular.
The global marketplace is characterized by a high level of fragmentation. The top five brands (Snickers and Dairy Milk are among them) held a combined share of just slightly higher 7% as of 2015. In terms of private label products, the sugar confectionery category takes the lead.
Growing feedstock costs, a shift toward e-commerce activities and cocoa sustainability are some of major challenges of the global confectionery market.
In-demand research report “Global Confectionery Report” worked out by MarketLine offers a comprehensive analysis of the world’s confectionery market. The study provides a bird’s eye view of this lucrative marketplace. It sheds light on the current scenario and gives future development projections.
The report investigates consumption patterns and concentrates on their changes. The research study identifies countries having high potential for this market. It analyses trends across countries having high potential.
The research report comprises valuable case studies and sheds light on the competitive landscape. The study explored distribution channels and discloses the most popular packaging formats. It also contains recommendations for confectionery manufacturers.
More insightful reports by Canadean can be found at its page.