Confectionery Market size is expected to reach USD 401.54 billion by 2028

 Confectionery Industry Overview

The global confectionery market size was valued at USD 298.23 billion in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 4.3% from 2022 to 2028.

 

The growing food and beverage industry across the globe and the rising per capita consumption of these products are expected to promote market growth. Moreover, consumers’ inclination toward gifting these products coupled with rising disposable income and rapid urbanization across the globe are the major driving factors of the market. In addition, the continuous development and attractive packaging increase the demand for confectionery products in emerging economies.

 

Gather more insights about the market drivers, restrains and growth of the Global Confectionery Market

 

Continuous changing consumer behavior and dietary habit are propelling the growth of the market. The growing trends toward consumers buying confectionery products made with natural ingredients are gathering popularity in recent years. According to Döhler, approximately 50% of confectionery products consumers want, asks for healthier options with at least 60% natural ingredients. Moreover, the increasing popularity and demand for sugar-free confectionery products across the developed economies have led to significant market demand over the forecast period.

 

The manufacturers of confectionery products are offering a wide range of products such as chocolate, chewing gum and sweets, toffee, marshmallow, cookies, ice cream, and other products. Moreover, the rising investment by the key market players in advertising campaigns, promotional activity, and social media marketing is accelerating market growth. However, government guidelines in countries such as the U.S., Germany, U.K., China, and India are expected to maintain the quality of these products. The published federal guidelines and rules ensure the quality of products up to the hygienic standards for consumption.

 

Browse through Grand View Research's Consumer F&B Industry Research Reports

  • Gelatin Substitutes Market: The global gelatin substitutes market size was worth USD 349.60 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 7.2% from 2023 to 2030.
  • Rice-based Products Market: The global rice-based products market size was valued at USD 198.04 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. 

 

 

Key Companies Profile

Some of the key players operating in the global confectionery market include:

  • Mondelez International, Inc.
  • Mars, Incorporated
  • The Hershey Company
  • Nestlé S.A.
  • Meiji Co., Ltd.
  • Ferrero Group
  • Chocoladefabriken Lindt & Sprüngli AG
  • Perfetti Van Melle
  • Ezaki Glico Co., Ltd.
  • Haribo GmbH & Co. K.G.
  • Grupo Arcor
  • Pladis

 

Order a free sample PDF of Confectionery Market Intelligence Study, published by Grand View Research.

 

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