Opportunities in the Asia-Pacific Confectionery Sector: Analysis of Opportunities Offered by High Growth Economies
Summary
Asia-Pacific accounted for a 24% value share in 2018 of the global confectionery sector and is forecast to record the fastest CAGR of 5.8% during 2018-2023. This growth can be attributed to socio-economic factors such as an increasing income and spending patterns, and consumers’ interest in purchasing specialty confectionery with health & wellness benefits. Sugar confectionery is the largest category in the Asia-Pacific confectionery sector, with value sales of US$17,972.5 million (43.2% of the overall confectionery sector) in 2018, and is expected to reach US$23,049.4 million by 2023, growing at a CAGR 5.1%.
New Zealand, China, Australia, and India were shortlisted as high-potential countries, primarily owing to their large market size, high value growth rates, and rising per capita value growth levels. Among these countries, China is the largest market, accounting for a value share of 43%, followed by India at 10.3%. The overall confectionery sector in the Asia-Pacific region is fragmented with the top five brands - Extra, Dairy Milk, Dove, Xylitol, and Hsu-Fu-Chi - accounting for 13.3% of the market value in 2018. Private label accounted for 2.1% of the overall sector in 2018.
Convenience stores are the most popular channel for confectionery products in the Asia-Pacific region, accounting for 42.3% of overall sales in 2018. It is followed by hypermarkets & supermarkets at 38.8% share, food & drinks specialists at 7.6% and department stores at 3.3%. Flexible packaging is the most commonly used package material in the Asia-Pacific confectionery sector, accounting for 70.4% (in packaging unit terms) in 2018, while bag/sachet is the most used pack type, accounting for 41.7% volume share in the same year.
The report Opportunities in the Asia-Pacific Confectionery Sector, brings together multiple data sources to provide a comprehensive overview of the Asia-Pacific confectionery sector.
Companies mentioned: Mars Incorporated, Mondelēz International, Lotte Co., Ltd., Nestlé SA, Perfetti Van Melle SpA, Meiji Holdings Co Ltd, Ferrero, Ezaki Glico co., Ltd, The Hershey Co, Morinaga & Co., Ltd.
Scope
This report brings together multiple data sources to provide a comprehensive overview of the Asia-Pacific confectionery sector. It includes analysis on the following -
- Sector overview: Provides an overview of the sector size, value, and volume growth analysis, across regions.
- Change in consumption: Analysis on the shift in consumption of confectionery by categories across the key countries in the Asia-Pacific region.
- High potential countries: Provides Risk-Reward analysis of top four high potential countries in the Asia-Pacific region based on market assessment, economic development, socio-demographic, governance indicators and technological infrastructure.
- Country analysis: Provides deep-dive analysis of four high potential countries covering value growth during 2018-2023, key challenges, consumer demographics, and key trends supported with product examples. It also includes analysis of the key challenges faced and future outlook for the region.
- Health & wellness analysis: Provides insights on the health & wellness products in terms of value and percentage share in the overall confectionery sector during 2013-2023. The analysis includes key health & wellness attributes and consumer benefits driving the sales of confectionery products in the Asia-Pacific region in 2018. It also covers the market share of leading companies offering confectionery products with health and wellness attributes in the same year.
- Brand Analysis: Provides an overview of leading brands in the Asia-Pacific region and analyzes the growth of private labels in the region.
- Key distribution channels: Provides analysis on the leading distribution channels in the Asia-Pacific confectionery sector in 2018. It covers distribution channels: hypermarkets & supermarkets, convenience stores, food & drinks specialists, department stores, “dollar stores”, vending machines, e-retailers, cash & carries & warehouse clubs, drug stores & pharmacies, and other retailers.
- Preferred packaging formats: The report provides percentage share (in 2018) and growth analysis (during 2013-2023) for various pack materials, pack type, closures, and primary outer types based on the volume sales (by pack units) of confectionery.
Reasons to buy- Manufacturing and retailers seek latest information on how the market is evolving to formulate their sales and marketing strategies. There is also demand for authentic market data with a high level of detail. This report has been created to provide its readers with up-to-date information and analysis to uncover emerging opportunities of growth within the sector in the region.
- The report provides a detailed analysis of the countries in the region, covering the key challenges, competitive landscape and demographic analysis , that can help companies gain insight into the country specific nuances
- The analysts have also placed a significant emphasis on the key trends that drive consumer choice and the future opportunities that can be explored in the region, than can help companies in revenue expansion
- To gain competitive intelligence about leading brands in the sector in the region with information about their market share and growth rates.
- 1. Executive summary
- 2. Market size and growth analysis (Regional analysis )
- Market size analysis - Asia Pacific compared to other regions
- Growth analysis by region
- Growth analysis by country
- Growth analysis by category
- 3. Identifying high potential countries in Asia-Pacific
- High potential countries in Asia-Pacific
- Identifying high potential countries - Methodology
- Identifying high potential countries - Risk, reward, and opportunity analysis
- 4. Market size and growth analysis (High potential countries in Asia-Pacific)
- High potential countries in Asia-Pacific - Overview
- Growth contribution analysis by country (1/2)
- Growth contribution analysis by country (2/2)
- Share of confectionery compared to other food sectors
- Change in consumption levels by country and confectionery categories
- Per capita consumption and expenditure analysis
- 5. Country Profiles (High potential countries in Asia-Pacific)
- New Zealand
- China
- Australia
- India
- 6. Success Stories
- Confectionery in Asia-Pacific: case studies
- 7. Company and Brand Analysis
- Brand share analysis in the confectionery sector
- Leading companies in the Asia-Pacific confectionery sector
- Leading brands in the Asia-Pacific confectionery sector
- Private Label penetration in the Asia-Pacific confectionery sector
- 8. Health & Wellness Analysis
- Health & Wellness analysis - Overview
- Health & Wellness market growth analysis by country
- Health & Wellness analysis - Key product attributes and consumer benefits
- Leading Health & Wellness companies by market share
- 9. Key Distribution Channels
- Leading distribution channels by countries
- Leading distribution channels by categories
- 10. Key Packaging Formats
- Growth analysis by key packaging material and container type
- Growth analysis by closure type and outers
- 11. Challenges and Future Outlook
- Key challenges
- Future Outlook
- 12. Appendix
- List of Tables
- Regional comparison: Market size, growth, and per capita analysis, 2018-2023
- High potential countries in the Asia-Pacific - Overview
- Share of confectionery compared to other food sectors
- Change in consumption levels by country and confectionery sectors
- Per Capita Consumption in Asia-Pacific and high potential countries, 2018
- Per Capita Expenditure in Asia-Pacific and high potential countries, 2018
- Brand share analysis in the confectionery sector
- Private Label penetration in the confectionery sector
- Health & Wellness analysis - Overview
- Health & Wellness analysis - Key product attributes and consumer benefits
- Leading Health & Wellness companies by market share
- Leading distribution channels by countries
- Leading distribution channels by categories
- List of Figures
- Value growth analysis by region (2018-2023)
- Volume growth analysis by region (2018-2023)
- Value and volume growth analysis by country (2018-2023)
- Value and volume growth analysis by category (2018-2023)
- Top four high potential countries in the Asia-Pacific
- Country level contribution to the growth of chocolate category in the Asia-Pacific, 2018-2023
- Country level contribution to the growth of gum category in the Asia-Pacific, 2018-2023
- Country level contribution to the growth of sugar confectionery category in the Asia-Pacific, 2018-2023
- Value share of confectionery sector as a proportion of overall food by country, 2018
- Leading companies in the Asia-Pacific confectionery sector by value sales (US$ million), 2018
- Leading brands (including Private label) in the Asia-Pacific confectionery sector by value sales (US$ million), 2018
- Country level contribution to the growth of H&W Market in the Asia-Pacific, 2018-2023
- Key package material volume (units) share, 2018, unit volume growth by package material (2013-2023)
- Key pack type volume (units) share, 2018, unit volume growth by pack type (2013-2023)
- Key closure type volume (units) share, 2018, unit volume growth by closure type (2013-2023)
- Key primary outers volume (units) share, 2018, unit volume growth by outers (2013-2023)