Global Sugar Confectionery Products Market Outlook and Revenue Forecast to 2028: Growing Demand for On-the-Go Snacks, Increase in Gifting Trends and New Products Flavors & Healthy Ingredients

DUBLIN, May 30, 2023 /PRNewswire/ -- The "Global Sugar Confectionery Products Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type, Packaging Type, Distribution Channel, and Region" report has been added to  ResearchAndMarkets.com's offering.

The Global Sugar Confectionery Products Market is expected to record a positive CAGR of ~4% during the forecast period (2022-2028) and is expected to reach approximately US$ 55 billion by 2028.

The sugar confectionery market is in growth at a steady pace on account of the rise in demand for on-the-go snacks, an increase in gifting trends, the introduction of new products with innovative flavors & healthy ingredients, and growth in the retail market

One of the main causes of the need for convenience snacks as part of the daily diet is rising modernization and a busy combination of work and personal commitments. Due to their busy schedules, customers are forced to hunt for quick-to-prepare food items because they are unable to spend time cooking or dining out during their working hours. Nowadays, as there are more consumers in the workplace, it is more difficult for them to maintain a healthy work-life balance. To provide consumers with a balanced diet, producers and marketers are actively profiting from the introduction and promotion of a variety of chocolate snacks, including on-the-go snacks, chocolate bars, and others.

Strict government regulations to limit the market growth

• Strict government regulations are anticipated to protect the quality of these items in nations including the USA, Germany, the UK, China, and India, which presents challenges for new market entrants The hygienic standards for consumption are ensured by the established federal guidelines and rules which is putting pressure on the current organizations to match the standards
• Given the implementation of numerous industrial trade and manufacturing restrictions during 2020, the COVID-19 pandemic had a moderate impact on the sugar confectionery business as evidenced by the dropping sales of snacks, notably sweets To balance the rising COVID-related stress levels, consumers' rising propensity and willingness to spend more on food products helped to improve product demand during the pandemic

Scope of the Report

The sugar confectionery products market is segmented by product type, packaging type, and distribution channel. In addition, the report also covers market size and forecasts for the four major regions' sugar confectionery products market. The revenue used to size and forecast the market for each segment is US$ billion.

By Product Type

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

By Packaging Type

• Sachet
• Box
• Others

By Distribution Channel

• Hypermarket/Supermarket
• Departmental Store
• Confectionery Stores
• Online Retails

By Geography

• North America (USA, Canada, and Mexico)
• Europe (Germany, UK, France, Spain, and Italy)
• Asia Pacific (China, Japan, South Korea, India, Indonesia, and Australia)
• LAMEA (Latin America, Middle East, and Africa)

Key Players

• Lotte Confectionery
• Ferrero SpA
• Perfetti Van Melle
• The Hershey Company
• Specialty Food Association, Inc
• Nestle SA
• The Kraft Heinz Company
• Jelly Belly Candy Company
• Lindt & Sprungli AG
• HARIBO of America, Inc

Key Trends by Market Segment

• By Product Type: The hard-boiled sweets segment held the largest market share in the global sugar confectionery products market in 2021. From 2022 to 2028, the hard-boiled sweets segment will gain market share for sugar confectionery due to its increased appeal among children. Another element affecting the demand for the product is an increase in consumption to swiftly raise blood sugar levels
• By Packaging Type: The sachet segment held the largest share of the global sugar confectionery products market in 2021.
• By Distribution Channel: The confectionery store distribution channel segment held the largest share of the global sugar confectionery products market in 2021.
• By Geography: Asia Pacific accounted for the largest market share in 2021 within the total global sugar confectionery products market.

The global sugar confectionery products market is forecasted to continue a gradual growth that is witnessed during the forecast period. The sugar confectionery market is in growth at a steady pace on account of the rise in demand for on-the-go snacks, the increase in gifting trends, the introduction of new products with innovative flavors & healthy ingredients, and the growth in the retail market. The market is highly competitive with ~500 participants concentrating on expansion strategies through product innovations as well as acquisitions and mergers.

Key Topics Covered in the Report

• Snapshot of the Global Sugar Confectionery Products Market
• Industry Value Chain and Ecosystem Analysis
• Market size and Segmentation of the Global Sugar Confectionery Products Market
• Historic Growth of the Overall Global Sugar Confectionery Products Market and Segments
• Competition Scenario of the Market and Key Developments of Competitors
• Porter's 5 Forces Analysis of the Global Sugar Confectionery Products Market
• Overview, Product Offerings, and SWOT Analysis of Key Competitors
• COVID-19 Impact on the Overall Global Sugar Confectionery Products Market
• Future Market Forecast and Growth Rates of the Total Global Sugar Confectionery Products Market and by Segments
• Market Size of Product Type/Packaging Type Segments with Historical CAGR and Future Forecasts
• Analysis of the Sugar Confectionery Products Market in Major Regions
• Major Production/Consumption Hubs in the Major Regions
• Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
• Overview of Notable Emerging Competitor Companies within Each Major Country

For more information about this report visit https://www.researchandmarkets.com/r/qjdmoy

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets