Global Liquor Confectionery Market

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 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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FAQs

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).

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. '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)'

There is a constant demand for liquor-infused candy since many cultures have created traditions of ingesting it during festivities and special events.

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.

Europe has the biggest market share as of 2022, making up 49.3% of the 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.

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Global Liquor Confectionery Market

Report ID: SQMIG30I2318

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