DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Sugar Confectionery Market by Product Type and Others - Global Opportunity Analysis and Industry Forecast, 2014-2022" report to their offering.
Sugar Confectionery Market Report, states that the global market was valued at $44,481 million in 2015, and is projected to reach $55,594 million by 2022, growing at a CAGR of 3.2% from 2016 to 2022. Asia-Pacific held more than two-fifths share of the global market in 2015.
The factors that drive the growth of global sugar confectionery market include increase in the retail market and expansion of product portfolio. In addition, the increase in disposable income of consumers in developing countries and the shift of trend towards gifting confectionery items, incessant R&D, expansion by key players, emphasis on promotional activities & social media marketing, and advertising campaigns has led to augment in the global sugar confectionery market. However, high raw material prices are expected to hamper the growth of this market in the near future. Moreover, the rise in demand for dark chocolates and sugar free chocolates are also anticipated to restrain the growth over the forecast period. Major factors projected to impede the market growth are the increase in awareness among consumers about health concerns and the rise in incidence of diabetes globally.
Introduction of new products with innovative flavors & healthy ingredients, growth in retail market, and increase in gifting trend drive the market growth. Asia-Pacific is anticipated to register significant growth in the market, owing to rise in disposable income and increase in population in emerging countries such as China and India. In addition, introduction of low-priced, smaller versions of established confectionery chocolate brands by key players has supplemented the market growth However, rise in demand for sugar-free products on account of increase in instances of diabetes and growth in health concerns are anticipated to restrain market growth.
Major players operating in this market include the following:
- Nestlé SA
- Chupa Chups SA.
- Cadbury PLC,
- Kraft Foods Inc.
- Ferrero SpA.
- The Hershey Company
- Perfetti Van Melle S.P.A.
- HARIBO Dunhills (Pontefract) PLC,
- Lotte Confectionery Co Ltd
- WM Wrigley JR Company
Lindt & Sprungli
For more information about this report visit http://www.researchandmarkets.com/research/mgz8sg/sugar