Global Sugar Confectionery Market 2017-2021

Global sugar confectionery market overview

Market research analysts at Technavio predict that the global sugar confectionery market will grow steadily at a CAGR of around 4% by 2021. This market research analysis identifies the wide reach through organized retailing as one of the primary factors for the sugar confectionery market growth. Vendors are highly dependent on these large organized retailers for revenue as ready-to-eat (RTE) food items are primarily sold through these retailers. The supermarkets, hypermarkets, and specialty stores constitute a major distribution channel that offers affordable food products. The rising disposable income of the consumers and the growing urbanization influences the growth and demand for supermarkets and this will in turn, influence the growth of the sugar confectionery market.

Vendors can now enhance their profitability by offering their products through the online distribution channels as well. The growth of the retail channel has been fueled by the increasing number of internet users, online transactions, and willingness to buy immediately. The convenience of online shopping and the incorporation of enhanced security features for efficient customer service and payments along with highly user-friendly web-designs offer enhanced product visibility. The vendors in this market must innovate and develop their online channels to target the internet savvy online customer segment.

Competitive landscape and key vendors

The sugar confectionery market is highly-competitive and is fragmented due to the presence of many global, local, and small vendors who compete based on price, product differentiation, distribution, promotion, and quality. Vendor performance is affected by technological advancements, declining profit margins, the unorganized and intense competition, and the changing tastes and preferences of the consumers. To gain competitive advantage, the sugar confectionery vendors must differentiate their products and services through a clear and unique value proposition.

The leading vendors in the market are -

• Ferrara Candy Company
• HARIBO
• Mondelēz International
• Nestlé
• Perfetti Van Melle

The other prominent vendors in the market are Adams & Brooks, Anthony-Thomas Candy, STORCK USA, DB Bourbon Candy, Cloetta, Ezaki Glico, Ferrero, Hammond's Candies, Meiji Holdings, and Wm. Wrigley Jr. Company.

Segmentation by product type and the sugar confectionery industry analysis

• Hard boiled sweets
• Caramel and toffees
• Gums and jellies
• Medicated confectionery
• Mints

The increased visibility near the checkout counter in supermarkets, popularity among children, innovations resulting in exotic flavors, and the growing retail sector result in the growth of the hard-boiled sweets segment. Vendors are constantly innovating and introducing new product variations in this segment. According to the sugar confectionery market research report, the hard-boiled sweets segment will account for the major revenue shares of the sugar confectionery market during the forecast period.

Segmentation by distribution channel and the sugar confectionery industry analysis

• Hypermarkets and supermarkets
• Independent retailers
• Convenience stores

The increasing trend of organized retailing is fueling the growth of supermarkets and hypermarkets that display and offer the food items at reasonable rates to the consumer. Developed countries have the widespread prevalence of supermarkets and hypermarkets due to the rising disposable income of the consumers and the rising urbanization, as per the sugar confectionery industry statistics report. Hypermarkets and supermarket segment will be the distribution channel that accounts for the major shares of the sugar confectionery market throughout the forecast period.

Key questions answered in the report include

• What will the sugar confectionery market size, market forecast and the growth rate be in 2021?
• What are the key factors driving the global sugar confectionery market?
• What are the key sugar confectionery market trends impacting the growth?
• What are the challenges to the sugar confectionery market growth?
• Who are the key vendors in the global sugar confectionery market?
• What are the market opportunities and threats faced by the vendors in the global sugar confectionery market?
• Trending factors influencing the sugar confectionery market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global sugar confectionery market?