USD 571.56 million
Liquor Confectionery Market Size, Share, Growth Analysis, By Product(Chocolates, Candies & Gums), By Distribution Channel(Supermarkets/Hypermarkets, Specialty Stores, Online), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30I2318 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
62
|Figures:
75
Liquor Confectionery Market Insights
Global Liquor Confectionery Market size was valued at USD 571.56 million in 2022 and is poised to grow from USD 603 million in 2023 to USD 925.41 million by 2031, growing at a CAGR of 5.5% in the forecast period (2024-2031).
The changing preferences of consumers, particularly millennials, are leading to an increased demand for liquor-infused confectionery products. This trend is particularly pronounced in European countries like the U.K., Germany, and Belgium, where there is a notable consumption of alcoholic beverages.
The introduction of chocolates containing alcohol in these regions is encouraging consumers to explore novel ways of enjoying alcohol. As a result, the global market for such products is experiencing significant growth.
Several factors are contributing to this market expansion. The rising popularity and accessibility of homemade liquor-infused confectionery products are driving this trend.
Given that a majority of consumers belong to the premium segment, an effective marketing strategy is crucial to tap into this growing demand. Additionally, the practice of giving these confectionery items as gifts is becoming more common, especially in developed markets.
However, the market expansion is not without its challenges. Fluctuating prices of raw materials used in the manufacturing process pose a limitation on growth. The premium nature of these products means that their higher price points can hinder their widespread adoption.
The global market's growth is propelled by the increasing prevalence of artisanal confectioneries that incorporate alcohol as a key ingredient. Evolving patterns of alcohol consumption are prompting individuals to allocate more of their budget to liquor-infused confectionery, thereby propelling the global market forward.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
capsule or chocolates
Fastest Growth
candies & gums
Growth Rate
5.5% CAGR
Global Liquor Confectionery Market ($ Bn)
Country Share for Europe Region (%)
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Liquor Confectionery Market Segmental Analysis
The global liquor confectionery market is segmented on the basis of product, distribution channel, region. By product, the market is segmented capsule or chocolates, candies & gums. By distribution channel, the market is segmented into supermarkets/hypermarkets, specialty stores, online. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Analysis By Product
In the year 2022, chocolates stood at the forefront of the global market, commanding a substantial revenue of USD 382.4 million. This dominance is attributed to several factors, including the incorporation of smart labeling and the utilization of diverse manufacturing techniques within the realm of chocolate confectionery. These factors have effectively captured the attention of consumers and contributed to the sector's success.
Moving forward, the segment of candies and gums is projected to exhibit significant growth, with a CAGR of 4.6% anticipated over the forecast period. A driving force behind this expansion is the proactive approach of major vendors who are introducing innovative and distinct offerings within the realm of candies and gums. These new products are characterized by special features that are designed to captivate consumer interest. The transformation of traditional hard candies is a noteworthy example in this context. The conventional method dictated that the sugary exterior would just melt over time, but now these sweets are being reimagined with a coating of chocolate covering the hard candy. Of course, some candies do contain alcohol content inside of them, which is a nice shopping surprise.
Analysis By Distribution Channel
As of 2022 the supermarkets and hypermarkets division brought in a sum total of USD 382.6 million, earning its name as the market leader. These stores offer a wide range of flavored candies for consumers to consider and choose from. The convenience and accessibility of these retail stores and the way they arrange the products in an aesthetic way is one of the explanations for this segment’s trending popularity. Coupled with these advantages, the success of this distribution channel can also be attributed to the attractive variety of promotional offers and discounts. In order to attract a larger customer base, supermarkets and hypermarkets utilize sales techniques like eye-grabbing offers, for example “buy one get one free.” These tactics work magnificently in bringing in more consumers, since they play on their need for special offers on their desired products, thus increasing the sales and revenue of liquor confectionery.
On the other hand, the online distribution channel is growing rapidly with a projected CAGR of 5.7%. Famous online marketplaces such as Amazon, Candy Warehouse, and Alibaba have gained popularity by selling alcohol-infused candies virtually. Several companies have their individual websites and prefer online sales over offline stores since this strategy improves customer convenience, bringing in higher revenue. Customers can now easily check through a wide range of products that are aligned with their tastes and preferences, thanks to the internet.
Global Liquor Confectionery Market Size By Product
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Liquor Confectionery Market Regional Insights
Europe has the biggest market share as of 2022, making up 49.3% of the global market. This leading position can be ascribed to the growing desire in nations like Belgium, Germany, and Switzerland for candy that contains alcohol. These items' unique flavors, widespread availability, and long-standing custom of incorporating them into different events are some of the factors contributing to their recent spike in popularity. A culture of enjoying handcrafted liquor confectioneries at important occasions, holidays, and celebrations has been nurtured by the distinctive cultural customs seen throughout Europe. The steady demand for these goods in the area has been largely fueled by this cultural norm.
Simultaneously, the Asia Pacific area has become a dynamic and swiftly expanding participant in the sector. Over the course of the forecast period, a noteworthy CAGR of 5.9% is anticipated. A number of variables have contributed to this remarkable growth trajectory, such as a change in consumer attitudes regarding the consumption of delicacies infused with alcohol and increased knowledge of liquor-infused confectionery. Interestingly, a large segment of the market, especially millennials, is willing to spend money on these candies in order to try new flavors and sensations. This preference stems from the understanding that these items provide a special means of savoring the essence of alcohol without resorting to excessive consumption. Changes in attitudes about the role of alcohol in celebration and enjoyment are having an impact on consumer behavior in the Asia Pacific area. Alternatives that fit the mood but don't require binge drinking are becoming more and more popular. The demand for alcoholic candies has increased as a result of this shift of viewpoint, making them an alluring and culturally relevant choice.
While Europe persists in its custom of indulging in liquor-infused candy during momentous occasions, the Asia Pacific area is embracing the chance to reimagine the confluence of alcohol and candy, meeting the increasing desire for delights that evoke an experience. Together, these trends emphasize the allure of liquor-infused confections around the world and the many ways that other locales incorporate these goods into their customs and tastes.
Global Liquor Confectionery Market By Region
- Largest
- Fastest
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Liquor Confectionery Market Dynamics
Drivers
Cultural Traditions and Occasions
- There is a constant demand for liquor-infused candy since many cultures have created traditions of ingesting it during festivities and special events.
Innovative Product Offerings
- Continuous innovation in flavors, packaging, and presentation of liquor-infused confectioneries attracts consumers looking for new and exciting culinary experiences.
Premiumization and Gifting Culture
- The premium nature of these products aligns with gifting trends and the willingness of consumers to pay for high-quality, distinctive treats.
Restraints
Fluctuating Raw Material Costs
- The volatility of raw material prices, particularly for quality cocoa and alcohol, can impact production costs and, consequently, product pricing.
Regulatory Constraints
- Stringent regulations on alcohol and food products, varying from region to region, can create challenges for manufacturers in terms of compliance and distribution.
High Pricing
- Because these products are high-end, their comparatively higher prices may prevent some consumer categories from using them, which could hinder their further consumption.
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Liquor Confectionery Market Competitive Landscape
Intense competition among major competitors vying for consumer attention and market share characterizes the competitive landscape of the worldwide liquor confectionery market. Several well-known companies, such Anthon Berg and Solidarno Liqueurs & Vodka, are constantly innovating and expanding the possibilities for flavor profiles and presentation. These businesses set themselves apart by providing a vast selection of liquor-infused candies to suit a range of palates and tastes.
A focus on quality, distinctive ingredients, and artisanal craftsmanship has resulted from the premium nature of the market. Thus, in order to stay competitive, both well-known candy companies and smaller competitors are making investments in finding top spirits, premium chocolate, and a wide range of flavor combinations.
Top Player’s Company Profile
- Ritter Sport (Germany)
- Anthon Berg (Denmark)
- Ferrero SpA (Italy)
- Lindt & Sprüngli AG (Switzerland)
- Solidarno Liqueurs & Vodka (Poland)
- Godiva Chocolatier, Inc. (Belgium)
- Läderach (Switzerland)
- Neuhaus (Belgium)
- Mars, Incorporated (United States)
- Chocolaterie Guylian N.V. (Belgium)
- Mondelez International, Inc. (United States)
- Nestlé S.A. (Switzerland)
- The Hershey Company (United States)
- Artisan du Chocolat (United Kingdom)
- Lindt & Sprüngli AG (Switzerland)
- Moonstruck Chocolate Company (United States)
- The Barry Callebaut Group (Switzerland)
- Droste Chocolates (Netherlands)
- Liqueur Fills (United Kingdom)
- Fruideli (Switzerland)
Recent Developments
- The Hershey Company, referred to as just Hershey’s, is an American multinational company which is also one of the largest chocolate producers and distributors in the world. They announced a new chocolate line filled with liquor flavors will hit the market in the US soon. This announcement was made in March 2023.
- Ferrero is a manufacturer of branded chocolate and confectionery products. It is also the second largest chocolate producer and confectionery company in the world. This global brand announced a new range of pralines would soon debut in Europe. They reported this development in February 2023.
- Lotte Confectionery is a renowned name in the confectionery industry and the biggest confectionery producer in South Korea. The well-known brand stated it would be launching a new line of liquor-flavored candies. This announcement was made in January 2023, and their aim is to enter the liquor confectionery market.
Liquor Confectionery Key Market Trends
- Flavor Innovation: Liquor confectioners have taken the cue from conventionally renowned drinks and mocktails when it comes to their production. They are employing a new and interesting range of flavors inspired from these alcoholic beverages to appeal to a wider consumer base who want a variety in tastes.
- Artisanal and Handcrafted Offerings: Modern consumers are favoring superior and premium products that are produced regionally in this day and age This evolving preference has led to the production and heightened demand for hand-made artisanal items, which also include liquor confectionery carved with intricate designs and filled with delicious flavors.
- Smart Packaging and Labeling: Liquor confectioners are utilizing a new method to improve consumer experience while imparting necessary information about the origins and ingredients of their products. These manufacturers are using additional QR codes and interactive labels to their products, which is a big hit in this digital age, thus furthering market expansion.
Liquor Confectionery Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global liquor confectionery market analysis, the global liquor confectionery market presents a dynamic landscape fueled by shifting consumer preferences, cultural traditions, and innovative product offerings. The market's dominance by key players like Anthon Berg and Solidarno Liqueurs & Vodka showcases their commitment to quality and differentiation through diverse flavor profiles. The premium nature of these products, combined with their appeal for gifting and celebratory occasions, underpins their sustained demand.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 571.56 million |
| Market size value in 2031 | USD 925.41 million |
| Growth Rate | 5.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Liquor Confectionery Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Liquor Confectionery Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Liquor Confectionery Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Liquor Confectionery Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Liquor Confectionery Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Liquor Confectionery Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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