DUBLIN--(BUSINESS WIRE)--Research and Markets has announced the addition of the "Opportunities in the Global Confectionery Sector: Analysis of Opportunities Offered by High Growth Economies" report to their offering.
The Global Confectionery sector was valued at US$156.4 billion in 2016 and is forecast to record a CAGR of 4.6% during 2016-2021 to reach US$195.8 billion by 2021.
Western Europe represented the largest market for the global confectionery sector with a value share of 29.6% in 2016. Meanwhile, Asia-Pacific is forecast to record the fastest CAGR of 7.2% during 2016-2021 and surpass North America to become the second largest market globally by 2021. A growing population, rising urbanization rate, and improving economy will remain the primary macroeconomic factors driving the sector globally. Chocolate represented the largest market in the sector with a value share of 55.5% in 2016. Given that confectionery purchase is often impulsive-driven by the desire for an indulgent treat, demand is likely to remain strong in the coming years.
The confectionery sector is forecast to register an increasing share in the global food industry during 2011-2021. All the regions, except Latin America, are forecast gain share in the confectionery sector, driven by the growing population, rising disposable income, and expanding retail industry. The increasingly hectic and busy lifestyles of consumers globally means that they are turning to indulgent confectionery products as a way to relax and unwind on a regular basis.
The top 10 high potential countries included China, Japan, Saudi Arabia, the US, Mexico, Brazil, Spain, Germany, Russia, and Poland. The US is set to continue leading the global confectionery sector, while China is forecast to record the fastest growth globally during 2016-2021. Russia is set to emerge as the fastest-growing market for confectionery in the Eastern European region with a CAGR of 5.5% during 2016-2021. Brazil represented the largest market in Latin America, accounting for 74.1% of total value sales, while Saudi Arabia represented the largest market with 33.6% value share in the Middle East & Africa region.
- Mars Inc
- Mondelez International
- Lotte Co.
- Perfetti Van Melle
- Meiji Holdings Co
- Ezaki Glico
- Morinaga & Co.
- Halwani Bros
- The Hershey Company
- Chocoladefabriken Lindt & Sprüngli
- Grupo Bimbo
- Grupo Arcor
- Haribo GmbH & Co. KG
- United Confectioner
Colian sp. z o.o.
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