Sugar Confectionery Market 2020-2026
Global Sugar Confectionery Market Size, Share & Trends Analysis Report, By Product (Chocolate, Sugar Based Food, and Snack Bars), By Distribution Channel (Online and Offline), and Forecast, 2020-2026
The global sugar confectionery market is estimated to grow at a CAGR of 3.5% during the forecast period. The trend towards healthier snacking options is leading to increasing demand for low-calorie and sugar confectionery products. An increasing shift towards a healthier diet coupled with increasing health awareness is supporting to drive the demand for energy and cereal bars. In addition, energy bars are also useful for patients suffering from chronic diseases. Energy bars with uncooked corn starch are a suitable choice for the diabetic population.
Energy bars with uncooked corn starch enables to prevent the spike-crash crave cycle to support controlling blood sugar levels. Energy bars for diabetic patients can support to decrease the risk of hypoglycemia at night by nearly 75%. This also allows patients to avoid blood sugar highs after snacking and manage hunger between meals. As a result, this facilitates to lose weight and offer plenty of energy to get with a thorough exercise routine. Therefore, energy bars can be included along with other well-balanced diets to manage their condition.
The global sugar confectionery market is segmented based on product and distribution channels. Based on the product, the market is classified into chocolate, sugar based food, and snack bars. Chocolate segment to witness a significant share in the market owing to the increasing availability of innovative chocolate brands. In addition, the increasing availability of sugar-free chocolates is further supporting the adoption of chocolate products. Chocolate with nuts is one of the premium segments, which differs from the price range.
Chocolate confectionery is further segmented into white and milk chocolate and dark chocolate. Sugar confectionery is further segmented into boiled sweets, caramels and toffees, mints, gums and jellies, and others. Snack bars are further segmented into energy bars, cereal bars, and others. Based on the distribution channel, the market is segmented into an online and offline distribution channel. Offline distribution channels are further segmented into supermarket/hypermarket, convenience stores, and others.
Geographically, Asia-Pacific is estimated to witness significant growth during the forecast period owing to the increasing demand for innovative confectionery products and emerging demand for snack bars in the region. In India, food habits are changing significantly, primarily in Tier 1 and Tier 2 cities. The consumers in these cities are becoming highly conscious regarding health, health claims on the products, and consumption pattern. As a result, the demand for organic, sugar-free, and less sugar confectionery products have been gaining significance in the country.
Some prominent players in the market include Mondelez International, Inc., Ferrero International S.A., Nestle S.A., Mars, Inc., and Meiji Holdings Co., Ltd. Product launches and mergers and acquisitions, are certain strategies adopted by the market players to expand market share and gain a competitive advantage. For instance, in March 2020, CORE Foods, a provider of fresh, refrigerated snacking, declared the introduction of CORE ENERGY BARS. It is a new line of plant-based bars which is filled with probiotics, prebiotic fiber, natural caffeine, and protein to offer balanced nutrition. This new line of energy bars is available in three coffee shop-inspired flavors, including Caramel Coffee Crunch, Mocha Chip Espresso, and Strawberry Basil Tea. Such new products comprise 65 mg of natural caffeine and complement the brand's current portfolio of fresh snacking options that allow consumers to enjoy these snack bars on-the-go.
The market study of the global sugar confectionery market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity to our reports.
Secondary Sources Include:
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
1. Global Sugar Confectionery Market Research and Analysis by Product
2. Global Sugar Confectionery Market Research and Analysis by Distribution Channel
The Report Covers:
Comprehensive research methodology of the global sugar confectionery market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global sugar confectionery market.
Insights about market determinants which are stimulating the global sugar confectionery market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.