Global Sugar And Confectionery Products Market Trends And Strategies Of Major Players In The Sugar And Confectionery Products Market 2021-2030
22 Jan, 2021
The sugar and confectionery products market consists of sales of sugar and confectionery products by entities (organizations, sole traders and partnerships) that produce sugar and confectionery products. The companies in the sugar and confectionery products industry process agricultural inputs such as sugarcane, beet and cacao into sugar and confectionery products such as chocolate, and package and distribute them through various distribution channels to both individual customers and commercial establishments.
Global Sugar And Confectionery Products Market Size And Drivers:
The global sugar and confectionery products market is expected to grow from $341.62 billion in 2020 to $360.11 billion in 2021 at a compound annual growth rate (CAGR) of 5.4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $475.65 billion in 2025 at a CAGR of 7%. The sugar and confectionery product manufacturing market growth is aided by stable economic growth forecasted in many developed and developing countries.
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Trends In The Global Sugar And Confectionery Products Market
Confectionery manufactures are adding naturally occurring herb and spice flavors in the confectionery market. Innovation has been key to the development of the confectionery market. According to the United States, Food and Drug Administration the term natural flavor or natural flavoring means the essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or any product of roasting, heating or enzymolysis, which contains the flavoring constituents derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc. Using herbs and spices give manufacturers the innovation of new and unique taste profiles.
Global Sugar And Confectionery Products Market Segments:
The global sugar and confectionery products market is further segmented based on type, distribution channel and geography.
By Type: Sugar, Confectionery Product.
By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Others.
Subsegments Covered: Chocolate Confectionery, Sugar Confectionery, Gum Confectionery.
By Geography: The global sugar and confectionery products market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific was the largest region in the global sugar and confectionery products market, accounting for 48% of the total market.
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Sugar And Confectionery Products Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides sugar and confectionery products market overviews, analyzes and forecasts market size and growth for the global sugar and confectionery products market, sugar and confectionery products market share, sugar and confectionery products market players, sugar and confectionery products market segments and geographies, sugar and confectionery products market’s leading competitors’ revenues, profiles and market shares. The sugar and confectionery products market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.