Confectionery Market Size, Share, Growth Analysis, By Type(Chocolates, Sugar, Gums), By Distribution Channel(Supermarkets/Hypermarkets, Convenience Stores, Departmental Stores, Online Retail), By Age Group(Children, adult, geriatric), By Price Point(Economy, Mid-range, luxury), By Region - Industry Forecast 2024-2031

Confectionery Market Driver

• Nowadays, since there are more consumers in the workplace, it is more difficult for them to maintain a healthy work-life balance. In order to provide customers with a balanced diet, producers and marketers are actively profiting on the introduction and promotion of a variety of chocolate snacks, including on-the-go snacks, chocolate bars, and others. They also concentrate on providing consumers with tiny, handy packaging that makes it possible for them to carry bars and sweets in their luggage. A spike in interest in dark chocolate is being attributed to its positive health effects.
• Global consumer lives are also changing drastically, particularly with regard to daily eating and health. Numerous lifestyle problems, including diabetes, high blood pressure, etc., have increased as a result of these changes. Consumers are becoming increasingly concerned about obesity, overweight, and the diseases it causes, which is causing substantial problems for the sustainability of healthcare systems everywhere.
• For example, Luker Chocolate reports a 50% rise in requests expressly for customized sugar-free and no-added sugar goods. Luker Chocolate says it has also seen an increase in requests from companies trying to create products that cater to the rising category of more aware customers. The selection comprises erythritol & stevia 70% sugar-free dark chocolate and erythritol & stevia 40% no-added-sugar milk chocolate. The selection also includes an item sweetened with maltitol and allulose for particular markets.

Confectionery Market Restraint

• Sugar and cocoa are two crucial ingredients that are mostly used in the production of confections all over the world. Due to the rapid changes in supply and demand for these commodities on the international market, sugar and cocoa prices have fluctuated during the last few years. Unfavorable weather conditions, crop diseases, labor availability, stock ratios, and other economic variables that impede the smooth flow of their demand and supply in the market have an impact on the yields of cocoa and sugar. When compared to the prices seen one year prior, cocoa powder prices rose in October 2021. They increased by 58 percent from US$3,058 to US$4,837 per tonne in the United States in October 2021, rallying on both markets.