Consumer and Market Insights: Confectionery in China
Summary The Chinese Confectionery market has seen large and constant growth in recent years as consumers increasingly turn away from traditional sweets and instead purchase more Western-style Confectionery products such as Gum, Sugar Confectionery, and Chocolate. This is highlighted by the high market growth rates, the second highest in world behind India, with a CAGR of 5.6% during 2010-2015. This is forecast to reach a CAGR of 5.1% between 2015-2020 as consumers opt for more Confectionery products instead of traditional offerings. Rising disposable incomes and increased awareness about foreign treats are also driving the market, with volumes now standing at 1,077kg million in 2015, compared to 821.4kg million in 2010. Additionally, women consume the most Confectionery products in China due to their strong desire for indulgent treats; they account for over 30 billion consumption occasions annually compared to men, who account for 28.7 billion as of 2015.
Key Findings Women account for the most Confectionery consumption occasions at 30.4 billion, and the highest per capita consumption, at 45.8 per year as of 2015.
The Chocolate segment is the largest in the market, accounting for a 76.7% share by volume in 2015.
The Gum segment is forecast to grow the fastest in volume terms between 2015-2020, at a CAGR of 8.5%.
By 2020, China will become the second biggest Confectionery market in the world, at 1,378.8 kg million in volume terms, behind only the US.
Synopsis Consumer and Market Insights: Confectionery in China is an analytical report by Canadean that provides extensive and highly detailed current and future market trends in the Chinese market. It covers market size and structure along with per capita and overall consumption. Additionally, it focuses on brand data, retail pricing, prospects and forecasts for sales and consumption till 2025.
Reasons To Buy Get a detailed understanding of consumption to align your sales and marketing efforts with the latest trends in the market.
Identify the areas of growth and opportunities, which will aid effective marketing planning.
The differing growth rates in regional product sales drive fundamental shifts in the market.
This report provides detailed, authoritative data on these changes - prime intelligence for marketers. Understand the market dynamics and essential data to benchmark your position and to identify where to compete in the future.