Rockville , Sept. 11, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global confectioneries market is estimated to increase at a CAGR of 4.6% and reach a value of US $474 Billion by the end of 2033.
Confectioneries are sweet treats like candies, chocolates, and pastries made with ingredients like sugar and flavorings. They are preferred for delicious tastes, a wide range of flavors, and various textures, from chewy to creamy. They're popular for gifting due to their universal appeal and often come in attractive packaging.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7992
The growth of the confectioneries market is being driven by several key factors. Firstly, increasing consumer demand for premium and artisanal products is fueling innovation and driving sales. Secondly, a rising preference for indulgent and unique flavor experiences is boosting the market, with consumers willing to pay a premium for high-quality confectioneries. Additionally, the trend towards gifting confectionery items on special occasions and the expanding influence of e-commerce channels are further propelling market expansion.
| Report Attributes | Details |
| Value Projection (2033) | US$ 474 Billion |
| Growth Rate (2023-2033) | 4.6% CAGR |
| No. of Pages | 170 pages |
| No. of Tables | 25 Tables |
| No. of Figures | 132 Figures |
Key Takeaways:
- The US market was valued at more than US $ 48.5 Bn by the year 2022. Moreover, the Canadian market is expected to grow at a CAGR of 4.1% from 2023 - 2033. Besides this, Asia Pacific is expected to witness a CAGR of 5.1% through 2033.
- As per the regional areas, the market in Europe occupied the largest share (35% market share) in 2022-end. Moreover, these growth opportunities are due to rising popularity along with the high demand for chocolate confectionery products.
Growing demand for premium and artisanal products, a preference for indulgent and unique flavor experiences, and the increasing influence of e-commerce channels are the common factors boosting the growth of the confectioneries market.” - Says FACTMR Expert
Key Companies Profiled in This Report
- Lindt & Sprungli
- Lotte Confectionery
- Mars Wrigley
- Mondelez International
- Nestle SA
- Perfetti Van MelleSpA
- The Hershey Company
- Pladis
Market Competition
The confectioneries market is highly competitive. It is characterized by intense rivalry among a diverse range of players, including multinational corporations, boutique artisans, and private-label brands. Major industry leaders compete on a global scale, leveraging their extensive resources, brand recognition, and innovation capabilities to capture market share.
- In 2020, Mondelez International Inc. secured a patent for a process allowing the reduction of sugar content in its chocolates by utilizing soluble corn fiber.
- In January 2022, MrBeast, a famous philanthropist and online content creator, introduced Feastables, a snack brand that focuses on healthier options and fun gaming elements. Their first product, the MrBeast Bar, is a gluten-free chocolate bar made with organic cocoa and other straightforward ingredients, aiming to provide top-quality snacks.
Winning strategies
- Companies should develop premium, handcrafted sweets aimed at customers who value exceptional quality and distinctive flavors and are willing to invest more in such products. These confectionery items will stand out in terms of their craftsmanship and flavor profiles, catering to a niche market that appreciates gourmet treats.
- In the industry, it's essential to provide healthier choices like sugar-free, low-sugar, or organic treats to meet the demands of health-conscious consumers. These alternatives address the growing need for better dietary options, ensuring a broader appeal and market presence for confectionery brands.
- Key players should maintain a commitment to regularly unveiling fresh and inventive confectionery offerings, unique flavor combinations, and attractive packaging designs. This adaptability ensures they can keep pace with evolving consumer tastes and preferences, staying relevant and competitive in the market.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=7992
Segmentation of Confectioneries Industry Research Report
- By Type:
- Chocolates
- Sugar Confectioneries
- Cookies
- Ice Cream
- By Distribution Channel:
- Offline
- Online
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global Confectioneries Market, presenting forecast statistics for the period of 2023-2033.
Confectioneries Market By Type (Chocolate, Sugar Confectioneries, Cookies, Ice Cream), By Distribution Channel (Online, Offline), By Region
Explore More Related Studies Published by Fact.MR Research:
Industrial Chocolate Market: The global industrial chocolate market is estimated to be valued at US$ 62.4 billion in 2023 and reach US$ 97 billion by 2033, expanding at a CAGR of 4.5% from 2023 to 2033.
Artisanal Ice Cream Market: Worldwide demand for artisanal ice cream is forecasted to rise at a CAGR of 4.2% and reach a market valuation of US$ 98 billion by 2033.
Protein Ice Cream Market: The global market is anticipated to grow with a CAGR of 11% in coming Years.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
