Lake Shore Gazette

Leading News Website

Confectionery Market Sales Revenue to Significantly Increase in the Next Few Years

The confectionery market is one of the growing sectors globally . Usually, confections are low in nutrients and high in calorie. Sugar-free confections are gaining popularity in the recent years due to factors such as increasing obesity rate, increasing number of diabetic patients, increasing nutritional and health concerns, and changing lifestyle. The confectionery market can be primarily divided into two broad categories: sugar confectionery and bakers’ confectionery . Sugar confectionery includes sweets, candies, chocolates, and chewing gum. Bakers’ confectionery includes pastries, cakes, doughnuts, and cookies.

Planning Forward? Access Sample of Confectionery Market Report @ https://www.persistencemarketresearch.com/samples/3792        

The global confectionery market can be segmented into five categories: chocolate confectionery, sugar confectionery, gum, cereal bars, and others. Major raw materials used in chocolates are cocoa and sugar, and raw materials used in gum include latex. Confectionery products are consumed by people of all age groups.

In terms of geography, Europe dominates the global confectionery market, followed by North America and Asia Pacific . The U.S. represents the largest confectionery market globally , followed by China and the U.K. India is the key market in Asia Pacific and the fastest-growing confectionery market in the world.Rising disposable income, growing retail market, increasing trend of gifting confectionery items, increasing population , increasing urbanization, hectic lifestyle, and more women in the workforce are some of the major driving factors of the confectionery market. Increasing population along with increasing disposable income in developing countries such as India and China is expected to increase the growth rate of the confectionery market. Increasing disposable income allow the customer to spend more.

Get A Customized Scope To Match Your Need Ask An Expert – sales@persistencemarketresearch.com

According to the National Bureau of Statistics China, annual per capita disposable income of urban households in China increased from USD 2,271.0 in 2008 to USD 3408.5 in 2012. The overall annual disposable income in India median household income  increased from USD 1,366.2 billion in 2010 to USD 1,587.6 billion in 2013. Consumers with hectic schedule tend be more inclined toward confections, as these items are tasty and consume less time. Additionally, increasing number of working women is driving the global confectionery market as it is resulting in higher disposable income for the family .

According to the U.S. Department of Labor in 2013, there were 127.1 million working women in the U.S. which is expected to grow at 5.4% by 2022. The urban population is more inclined toward consumption of confectionery compared to its rural counterparts.  According to the United Nations Department of Economic and Social Affairs (UN DESA), in 2013 the largest urban population growth took place in the Asian countries such as India and China. By 2050, India is expected to have 404 million urban dwellers while China is likely to stand at 292 million. Some of the major restraints for the global confectionery market are rising health issues, increasing government regulations , and increasing raw material cost.

Some of the major companies operating in the global confectionery market are The Hershey Company, the Ferrero Group, Mars, Incorporated., MondelÄ“z International, Nestlé S.A., Parle Products Pvt. Ltd., Kraft Foods, Cadbury, HARIBO Dunhills (Pontefract) PLC, United Confectionery Manufacturers, Perfetti Van Melle, Kegg’s Candies, Petra Foods, Yildiz Holding, Crown Confectionery, and  Brookside Foods.

For in-depth competitive analysis, Check Pre-Book here @ https://www.persistencemarketresearch.com/checkout/3792

About us: Persistence Market Research

Contact us:

Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com

Leave a Reply

Your email address will not be published. Required fields are marked *