According to Stratistics MRC, the Global Confectioneries Market is estimated at $161.6 million in 2015 and is poised to reach $205.3 million by 2022, growing at a CAGR of 3.5% during the forecast period. Increasing disposable income, rising population, growing urbanization and rising trade market are some of the key factors driving the confectionery market. The major challenges for the industry include rising government regulations, changing end user preferences and health issues. The chocolate segment is estimated to witness the maximum growth.
Europe leads the worldwide confectionery market, followed by North America and Asia Pacific. Followed by China and the U.K., U.S. represents the major confectionery market worldwide. India is the main market in Asia Pacific and the rapidly growing confectionery market in the world.
Some of the key players in the market include Parle Products Pvt. Ltd., Kegg’s Candies, The Ferrero Group, Cadbury, The Hershey Company, Crown Confectionery, Nestle S.A., Perfetti Van Melle, Mars, Kraft Foods, Mondel?z International, HARIBO Dunhills PLC, United Confectionery Manufacturers, Petra Foods, Yildiz Holding and Brookside Foods.
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Type of Sugars Covered:
o Chewing gum
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