Consumer and Market Insights: Confectionery Market in Venezuela
This report brings together consumer insight and market data to provide a comprehensive brief of Venezuela’s Confectionery sector. This allows for the rapid identification of key growth opportunities across major Confectionery categories and their packaging.
Large young population base will drive growth in the CPG industry in Venezuela.
Sugar Confectionery has the highest volume share in the Confectionery market.
Hypermarkets & Supermarkets is the leading distribution channel in the Confectionery market followed by Convenience Stores.
Flexible Packaging is the most used packaging material while Bag/Sachet and Wrapper are the preferred container types in the Confectionery market.
The Venezuelan Confectionery market is forecast to grow at a CAGR of 2.3% during 2014-2019. Chocolate is the leading category by value and accounted for 54.5% of retail consumption in terms of value in 2014 while Gum registered the highest growth during 2009-2014. The presence of large young population in the country provides good opportunity for the Confectionery manufacturers.
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This overview of the consumer and market dynamics of Venezuela’s Confectionery sector allows new entrants and established companies to gain rapid and comprehensive insight into the current state of the market.