Opportunities in the Asia-Pacific Confectionery Sector: Analysis of Opportunities Offered by High Growth Economies

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.