Market Overview
Confectionery products majorly include pastilles, gums, jellies, and chews which are high in sugar content. Increasing demand for confectionery products has given an opportunity to the sugar confectionery manufacturers to come up with various innovative sugar confectionery products. Furthermore, high demand for sugar confectioneries among children is considered to be a major driving factor for the market growth. Additionally, demand for medicated sugar confectionery is pushing the growth of the market in a positive direction.
Market Forecast
Sugar confectionery products are attractive and sweet which is gaining traction among all the age groups. Changing consumption pattern followed by increasing disposable income is boosting the growth of the sugar confectionery market. Moreover, growing trend of gifting confectioneries is driving the growth of the sugar confectionery market.
Various innovations in the sugar confectionery products are boosting the growth of the market globally. Moreover, key players are growing their market through attractive packaging, which is adding fuel to the growth of the sugar confectionery market. However, increasing health conscious population followed by increasing obesity may hamper the growth of the market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 3.2% of sugar confectionery market during the forecast period, 2017-2023.
Key Players
The major players in the sugar confectionery market
THE HERSHEY COMPANY (U.S.)
Nestlé (Switzerland)
Mars Incorporated (U.S.)
Mondelez International (U.S.)
HARIBO (Germany)
Ferrero (Italy)
Wrigley (U.S.)
Market Segmentation:
Sugar confectionery market is segmented on the basis of type such as pastilles, gums, jellies, chews, and others. Among all, the pastilles segment is dominating the market followed by the gums segment. Growing retail sector is majorly contributing to the growth of pastilles segment as they usually fall under an impulsive purchase of the consumers.
On the basis of the packaging, the sugar confectionery market is segmented into sachets, boxes, and others. The sachet segment is dominating the market. However, the boxes segment are expected to grow at the fastest rate in the coming years.
Based on the distribution channel, sugar confectionery market is segmented into the store-based and non-store based distribution channel. The store-based distribution channel is dominating the market and is likely to continue its dominance over the forecast period. However, the non-store based distribution channel is expected to gain moderate growth in the coming years.
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Regional Analysis
The global sugar confectionery market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). North America is dominating the global market. Use of sugar confectioneries on various occasions for gifting is a major driver for this market in North America.
Europe is the second largest sugar confectionery market across the globe.
Asia Pacific is the fastest growing sugar confectionery market owing to high usage of confectioneries in the festivals and customs in India. Moreover, continuous innovation and new product launches with innovative packaging are supporting the growth of sugar confectionery market in rest of the world.
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Consumers are highly influenced by being aware of ingredients used in the food they consume which is driving the clean label ingredients market globally.
The type of clean label ingredients includes emulsifiers, stabilizer, and thickeners (EST), flavor, preservatives, colorants, and others.
They are applicable in various industries including bakery & confectionery, dairy & frozen desserts, beverages, oils & fats, snacks, meat products, and others.Market ForecastThe global clean label ingredients market is increasing due to increased demand for clean label products in developed countries.
Among them, the preservative is the most common type owing to the harmful effects caused due to an overdose of artificial preservatives.
Moreover, the rising demand for low-fat alternatives in processed food and beverages is likely to surge in the demand for natural emulsifiers, stabilizers, and thickeners over the review period.On the basis of the form, the clean label ingredients is segmented into dry, liquid and others.
Among them, the dry segment is witnessed to gain a potential growth over the forecast period.On the basis of application, clean label ingredients market is segmented into beverages, bakery & confectionery, sweet and savory snacks, dairy & frozen desserts, oils and fats, and others.
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Market ForecastGlobal RTE Popcorn Market size is projected to be valued at USD 5.83 Billion by 2027 at a CAGR of 7.9% between 2020 and 2027.
The global market has been largely benefiting from the increasing demand for RTE popcorn products across the world.
The growing demand for RTE popcorn in multiplexes is boosting the demand for RTE popcorn among consumers.Moreover, the growth of the e-commerce sector and the inclination of manufacturers toward this mode of distribution is further expected to boost the growth of the RTE popcorn market during the review period.
Investments in the market are projected to significantly impact the RTE popcorn market size during the forecast period.
All the factors are anticipated to create substantial growth opportunities for the growth of the global RTE popcorn market.Key PlayersConagra Brands, Inc. (US)Weaver Popcorn Company, Inc. (US)Amplify Snack Brands (US)Snyder's-Lance.
(US)Wyandot Inc. (US)Smartfoods Inc. (US)PepsiCo (Frito-Lay) (US)Quinn Foods LLC.
Energy bars provide various sources of energy such as protein, fat and carbohydrates.
Organic energy bar is prepared and processed without synthetic fertilizers or pesticides and do not contain any artificial flavors, colors or preservatives.
Market Forecast The global organic energy bar market share is witnessing an impressive growth over the last few years.
Innovation in overall chocolate industry and launch of new product is creating a niche for the rising growth of organic energy bar market.
Increasing massive growth of organized retail sector is considered to be one of the main factors for the rising growth of this market in the upcoming decade.
Consumers are inclined to buy the products from the super markets & hypermarkets instead of the normal grocery shop.
Baobab is gaining popularity in various industries such as functional foods, beverages, sauces & seasonings, nutraceuticals, cosmetics, and others, which is boosting the growth of the market.
Moreover, continuous R is likely to lubricate the growth of the baobab market with various innovations globally.
Among all, the Digitata is the most commonly available source for baobab, which grows in various parts of Africa and the Middle East including Yemen, Oman, and Ghana.On the basis of the form, the global baobab market is segmented into oil, powder, fruit pulp, and others.
Among all, the baobab oil is dominating the market and is expected to grow at the fastest rate over the forecast period owing to its rising demand for cosmetics.
The Baobab powder is the second largest segment of the baobab market and is projected to continue its growth in the coming years.Based on the application, the market is segmented into a functional food, beverages, sauces & seasonings, nutraceuticals, cosmetics, and others.
The cosmetics segment is dominating the market based on the high application of baobab oil as a skin and hair moisturizer.
Market HighlightsMedical device & accessories are products, intended to support, supplement, or augment the performance of one or more parent devices.
In this regards, Koninklijke Philips N.V, in June 2017, acquired Cardio Prolific Inc. which is a U.S.-based, privately held company that develops catheter-based thrombectomy approaches to treat peripheral vascular disease.
These mergers and acquisitions help them to develop pipeline and network of their product around the globe.
People in this region are more health conscious that leads to an increase in the healthcare spending.Europe accounts for the second largest market, which is followed by Asia Pacific.
Western Europe holds the major share of the market which is majorly contributed by Germany, U.K., and France.
Moreover, major driving factors for the market in this region are increasing the prevalence of chronic diseases, strong government support, and well-developed technology.On the other hand, The Middle East & Africa holds the least share in the market owing to the presence of poor and slow developing countries, especially, in the African region.
