The sugar confectionary market for products like chocolates, chewing gums, and energy bars are expected to grow in the future. Key companies in the confectionary market are now entering the developing countries to exploit market opportunities. Product innovation is expected to contribute to the global market growth. Sugar confectioneries are food items that are rich in sugar or sweetener content.
Confectioneries are food products that commonly include sugar syrup, honey, fruits, berries, butter, cocoa, milk, nuts and more. Confectionaries are known by different names like candies, sweets, toffees, lollies, and goodies in different regions. They include different food items like chocolates, marshmallows, caramels, fudge and more. Confectionaries with a wide range of items are consumed by almost all regions and further growth in confectionary consumption is expected from developing countries. European market is the largest one for confectioneries while North America and Asia-Pacific are trailing behind. The Asia-Pacific market is expected to show significant growth in the near future.
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The major restraint for the confectionary market is health awareness among consumers. Confectionary mainly includes products made from sugar, which has high amount of calories and is considered to be reason for diseases like obesity and diabetes. Also, confectionary consumers majorly include children, hence, much focus is on the composition of the food items. In addition to this, the market for snacks and drinks is seen to effect the confectionary market growth negatively. Major manufacturers are now trying to develop sugar-free products or products with the same taste and with low calories.
Some of the key players in the confectionary market are Kraft Foods Inc., Cadbury PLC., Nestlé SA, Mars Inc., Perfetti Van Melle S.P.A., Ferrero SpA., the Hershey Company, Lindt & Sprungli, WM Wrigley JR Company, and Chupa Chups SA., among others.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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