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Confectionery Market Size, Share, Industry, Forecast and outlook (2023-2030)

Published: 2023 May 10
SKU : FB1817
180 pages
Report Summary
Table of Contents
List of Tables & Figures

Confectionery Market is segmented By Product Type (Sugar Confectionery, Chocolate Confectionery, Bakers Confectionery), By Distribution Channel (Supermarkets & Hypermarkets, Bakeries, Convenience Stores, Online, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030 


Confectionery Market Report Overview

The Confectionery Market report analyzes the global market shares, size, recent trends, future market outlook, and competitive intelligence. Confectionery products include sweets, candies, chocolates, chewing gum, and other sugar-based products. The market is driven by the increasing demand for sugar-based products among consumers worldwide. The Asia Pacific region is expected to witness significant growth in the market due to the rising population and increasing disposable income. Key players in the Confectionery Market include Mars, Incorporated, Nestlé S.A., The Hershey Company, Ferrero Group, and other prominent players operating in the market.

Confectionery is a group of food products that are made with sugar or carbohydrates. There is a wide collection of confectionery products across the globe which are majorly classified as chocolate confectionery, sugar confectionery, and bakers’ confectionery. Most of the well-known products such as candies, gums, lollipops, and chocolates are included in confectionery.


Confectionery Market Scope and Summary



Market CAGR


Segments Covered

 By Product Type, By Distribution Channel, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America


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Confectionery Market Dynamics and Trends

Health benefits associated with chocolate products are driving the growth of the overall confectionery market

Dark chocolate is considered a healthy snack owing to its nutrient content and its potential in lowering the risk of heart disease. Epidemiologists across the globe are suggesting the consumption of dark and milk chocolate for heart health with clinically proven and study-based facts. In a recent study by Harvard Medical School on 21,000 residents of England, it is found that consumption of up to 3.5 ounces of chocolate a day lowered the risk of heart disease in adults. Furthermore, innovations in the market in terms of flavor and nutritional content are driving market growth. Global confectionery manufacturers are focusing on the development of confectionery products with flavors such as coffee, fruits, cinnamon, and different ingredients. For instance, in February 2019, Nestlé S.A. launched premium chocolate derived from raspberries and ruby cocoa beans in the American market, and this confectionery product is estimated to gain significant sales in Valentine's season. Companies such as Mars Wrigley Confectionery are likely to mark product innovations catering to the burgeoning interest in nut butter and mixed fruit flavors.

The rising consciousness among consumers toward sugar intake is the primary factor hindering the growth of the confectionery market. Sugar present in confectionery products is considered a leading cause of diseases such as Obesity and Diabetes. The rising prevalence of obesity and diabetes is limiting the consumer base for confectionery across the globe. The global Diabetes community in the U.K. suggests avoiding chocolate consumption in people with blood sugar levels higher than recommended levels. However, this is resulting in an immense growth potential for sugar-free confectionery products. A product labeled sugar-free use sugar substitutes such as saccharin and aspartame or sugar alcohols for sweetening, all without adding calories to the product, thus making them the confectionery of choice for the Diabetic and health-savvy population. The evolution of sugar-free, low-calorie products is a potential opportunity for the confectionery market across the globe.

Confectionery Market Segmentation

The large market for hard candies across the globe made sugar confectionery the largest segment of the global confectionery market

Sugar confectionery is widely accepted and preferred by populations of almost all groups and this segment is likely to hold its dominance in the market over the forecast period. The United States Department of Agriculture in its recent press release stated that millennials and Generation X accounted for nearly 50% of the candy sales in the U.S. in 2017. However, the growing demand for chocolate products owing to its low-sugar content and health benefits resulted in chocolate confectionery as the fastest-growing segment. Chocolate confectionery is likely to grow at a lucrative CAGR of over 6.2% during the forecast period.

Supermarkets and hypermarkets evolved as the largest sales channel for confectionery products with a share of nearly YY% in terms of sales value in 2020. The increasing dependence of consumers on these facilities, freedom of selection, more comprehensive product ranges, and bundling schemes offered by mass merchandisers have led to increased foot counts on the floor. Consumers prefer mass purchasing of groceries for a particular period due to their busy and hectic schedules. Thus, supermarkets/hypermarkets offer a convenient buying experience to consumers under a single roof. The separate sections in the supermarkets/hypermarkets provide an easy way to buy chocolates and other confectioneries. The rapid emergence of such sales counters worldwide is expected to contribute to the revenue generation of sugar and chocolate products in the global marketplace. However, the manufacturers are also focussing on small and consumer packs for the middle-class population globally, promoting the sales of confectioneries from convenience, online, and departmental stores.

Confectionery Market Geographical Share

Europe is expected to dominate the global confectionery market during the forecast period

Consumers are intensively looking for quality and premium chocolates over sugar confectionery products, owing to their increased taste preferences and permissive eating habits. The combination of work-life, health concerns, and individual desires among consumers is one of the major factors that are becoming influential motivators to consume confectioneries in their daily routine. Consumers are demanding some specific and customized chocolates in the market, such as ‘melt-in-the-mouth ‘feel chocolate, ‘quality-for-chocolate’, and others which have consequently led to greater sales of confectioneries in the region. It is the most popular snack type in certain European countries, including the U.K., Germany, and Austria. These countries are expected to consume 5 times the global average.

However, Asia Pacific evolved as the fastest-growing market for confectionery products owing to the rising consumer spending and growing adoption of confectionery in countries such as India and China. According to India Brand Equity Foundation (IBEF), chocolate sales in India increased from less than $100 million in 2000 to over $1,500 million in 2017.

On the other hand, North America is witnessing a significant rise in sugar and chocolate product sales as consumers are increasingly eyeing it as comfort food. The between-meal snacking trend in the region has led to increased demand for snacks and cereal bars. The U.S. is one of the major markets where consumers are ready to spend on artisanal confectionery products that enhance their appearance and increase their palatability. Increased efforts from manufacturers, implementation of new technologies, and emerging production facilities in the region have positively impacted the overall growth of the demand.

COVID-19 Impact on Confectionery Market Growth

The global COVID-19 pandemic has negatively impacted the global economy and food industry as governments imposed strict lockdowns and restricted public mobility. The closure of sugar and chocolate products manufacturing facilities significantly affected commodity production in the initial months. For instance, in the U.S., The Hershey Company temporarily closed all its production facilities from 16-29th March 2020 in response to the COVID-19 outbreak. Disruptions in the supply chain, workforce shortages, trade restrictions, and fluctuations in transportation and logistics were some of the problems observed during the lockdown. According to the CEO of the National Confectioners’ Association (NCA), consumers during the quarantine period were eating more meals at home, lowered their store visits, and increased their comfort levels with online purchasing affected the retail confectionery sector.

However, with the manufacturing facilities re-opening in various economies and the market players working towards reinstating the supply chain disruptions, it is anticipated to improve the market situation. As sugar and chocolate items are considered comfort food and consumers find unique ways to celebrate with more at-home activities such as baking, it is expected to impact the market positively.

Confectionery Companies and Competitive Landscape

The global confectionery market is highly fragmented with a large number of players involved in a wide array of confectionery products. However, companies such as Nestlé S.A., Cadbury, Mondelez, and The Hershey Company evolved as market leaders with consumer loyalty and brand reputation. The market turned further competitive by the footprints of many Asian and Middle Eastern companies entering the market with local confectionery flavors. The companies in the market are leveraging acquisitions, mergers, and new product formulations to increase their market share.

Recent Developments in the Industry:

  1. For instance, in January 2021, Mondelez International, Inc. announced the launch of Cadbury Dairy Milk Silk Mousse in India under its premium chocolate segment.
  2. In January 2020, the Hershey Company, under its Indian subsidiary, launched Hershey chocolate bars in India to expand its geographical presence and strengthen its position in the Indian confectionery items market.
  3. In April 2018, Ferrero SpA, an Italian chocolate and confectionery products manufacturer acquired the confectionery business of Nestle in the U.S., thus boosting its portfolio of confectionery products in the North American market.
  4. Furthermore, the company also The Ferrara Candy Company, another U.S.-based confectionery manufacturer in 2017 for approximately $1.3 billion. These activities witness the interest of the company to boost its presence in the non-chocolate confectionery segment. Other key players in the market are Delfi Limited, Mars, Incorporated, Lotte Confectionery, Parle Products Pvt. Ltd., and Grupo Arcor.
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What is the Confectionery Market Growth?
The market is growing at a high CAGR of 7.7% during the Period.
Who are the key players in Confectionery Market?
Confectionery Market include Mars, Incorporated, Nestlé S.A., The Hershey Company, Ferrero Group, and others.
Which region controlled the global market during 2023-2030?
North American Region Controls the Confectionery Market during 2023-2030.
Which is the fastest-growing region in the Confectionery Market?
Among all regions, Asia Pacific is the fastest-growing market share during the forecast period.
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