Global Sugar Confectionery Market 2017-2021
About Sugar Confectionery
Sugar confectionery are a range of sugar-based products, which contain a high amount of sugar or sweetener. Sugar confectionery products form an integral part of the global confectionery market. They are consumed as taste ingredients and snack food. Besides, they also find application in gifts industry. The sugar confectionery market is divided into six major segments based on product type, which includes hard-boiled sweets, gums and jellies, caramels and toffees, mints, medicated confectioneries, and others.
Technavio’s analysts forecast the global sugar confectionery market to grow at a CAGR of 3.92% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global sugar confectionery market for 2017-2021. To calculate the market size, the report considers new installations, shipments, sales, volume, and value.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Sugar Confectionery Market 2017-2021
Technavio recognizes the following companies as the key players in the global sugar confectionery market: Mondelēz International, Ferrara Candy Company, Nestlé, HARIBO, and Perfetti Van Melle.
Other Prominent Vendors in the market are: Adams & Brooks, Anthony-Thomas Candy, STORCK USA, DB Bourbon Candy, Cloetta, Ezaki Glico, Ferrero, Hammond's Candies, Meiji Holdings, and Wm. Wrigley Jr. Company.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is increasing availability of products through online channels. With the growth of e-commerce businesses worldwide, vendors now have the potential to enhance their profitability; e-commerce accounts for nearly 12% of the world’s retail trade. Online channels support both business-to-business (B2B) and business-to-consumer (B2C) operations.”
According to the report, one driver in the market is wide reach through organized retailing. The number of organized retailers has increased worldwide with the establishment of supermarkets, hypermarkets, and specialty stores. Ready-to-eat (RTE) foods are mostly sold through large organized retailers, and as such, vendors are highly dependent on these large organized retailers. Supermarkets constitute a major distribution channel, which offer affordable food products. Given the rise in population, the number of supermarkets is growing.
Further, the report states that one challenge in the market is increasing vendor fragmentation leading to unhealthy competition. The major challenge for vendors in any packaged food items industry is achieving mass market penetration and building a loyal customer base. Many local and unorganized regional vendors operate in the global sugar confectionery market. They provide products at a lesser price with an aim to fulfill consumer needs. Therefore, national and international players face strong and unhealthy competition from these regional vendors.
Mondelēz International, Ferrara Candy Company, Nestlé, HARIBO, Perfetti Van Melle, Adams & Brooks, Anthony-Thomas Candy, STORCK USA, DB Bourbon Candy, Cloetta, Ezaki Glico, Ferrero, Hammond's Candies, Meiji Holdings, and Wm. Wrigley Jr. Company.