Sugar & Gum Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

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Sugar & Gum Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028

Status : February, 2020 | Food and Beverages | PPT format

Report Digest


Sugar & gum confectionery have always been in high demand, with multiple varieties and flavors hitting the shelves in the market every now and then. The quenching experience of indulging in different flavors making consumers make purchases in the sugar & gum confectionery market. Manufacturers are also investing in attractive packaging formats to enhance customer engagement, which in turn would lead to high volume sales.

Sugar & gum confectionery products are usually consumed by people from all walks of life and age groups. Ranging from individual candies to sophisticated bars, sugar & gum confectionery items have hardly witnessed sluggish demand over the past few years. Consumer preferences with respect to type of sugar & gum confectionery products differ from region to region, which is highly dependent on cost, taste preferences, culture, and several other factors.  

Sugar & Gum Confectionery Market- Notable Highlights

  • Nestlé made an official announcement of selling the business of its U.S. confectionery to Ferrero for an all-cash deal of USD 2.8 billion in 2018. This collaboration was aimed at helping Nestlé to boost its U.S. confectionery business and invest as well as innovate across a new range of product categories demonstrating growth potential.
  • The Hershey Company launched the ‘Cocoa for Good’, an initiative oriented toward sustainability and aiming to address pressing issues across prominent cocoa-growing regions. This was one-of-its-kind collaborative approach for a sustainable cocoa supply whilst ensuring solutions for various social, economic, and environmental challenges in these cocoa-producing regions.

Some of the most prominent competitors operating in the competitive landscape of global sugar & gum confectionery market include –

  • Cadbury PLC.
  • Chupa Chups SA.
  • Nestl SA
  • Kraft Foods Inc.
  • The Hershey Company
  • Ferrero SpA.
  • HARIBO Dunhills (Pontefract) PLC
  • Perfetti Van Melle S.P.A.
  • WM Wrigley JR Company
  • Lotte Confectionery Co Ltd
  • Lindt & Sprungli
  • GBO Mendelez International

Price-Sensitivity Remains a Key Sales Determinant in Sugar & Gum Confectionery Market

Price-sensitivity remains a key determining factor with far-reaching impact on consumer decision-making in the sugar & confectionery landscape. Various price promotions remain the key cornerstone to be taken into consideration by leading brands to make their products stand out across the shelves.

The consumer quest for reasonable products puts the onus on leading market players to offer compelling and unique deals to create more reasons for consumers to choose them over other brands. In the sugar & gum confectionery landscape, there are enough scope for the market players to grow by staying at the forefront of innovation and experimentation. This could possibly include offering sophisticated products with enticing flavors and captivating appeal.

Growing Reluctance toward Sugar-based Variants to Dilute Sales

The demand for sugar & gum confectionery tends to be dwindle across various regions. This deterioration of demand can be attributed to a multiple reasons, ranging from the increasing rate of global obesity pandemic to sluggishness of gum sales. Rising governmental intervention to ensure general well-being via imposition of sugar taxes is resulting in people cutting back on sugar & gum confectionery products.

Rising concerns vis-à-vis health and well-being are also predominantly responsible for decline in demand for sugar & gum confectionery. Sugar & gum confectionery remains in the spotlight for not only the sugar content, but also on account of the artificial colors and flavors used. There has been a constant clamor for replacing the artificial ingredients with natural ones, and manufacturers have also started commercializing ‘free-from’ products for boosting consumer confidence.

Asia Pacific Remains Highly Lucrative for Sugar & Gum Confectionery Brands

Consumption of sugar & gum confectionery across key countries in Asia-Pacific is likely to take off significantly, notably assisted by burgeoning middle class population, impressive economic growth, and flourishing retail industry. Developing economies, including India & China, are likely to witness substantial demand for sugar & gum confectionery products of multiple varieties and flavors. This, in turn, is likely to create sustained opportunities for sugar & gum confectionery brands to gain sizeable revenues.

Sugar & Gum Confectionery Market Segmentation

By Packaging

  • Sachets
  • Boxes
  • Wrappers
  • Others

By Distribution Channel

  • Store Based
  • Non-Store Based

The study presents a granular assessment and quantitative evaluation of:

  • Key growth factors and prominent trends
  • Size and share of key segments in overall market
  • Key challenges and winning imperatives
  • Factors shaping competitive landscape
  • Insights into how contours of market will change in coming years
  • Technological advances
  • New avenues and imminent investment pockets
  • Regulatory landscape shaping current and future strategies of companies

The region-wise assessment includes market dynamics in:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.

The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:

  • Which key factors will shape the competitive landscape?
  • Which trends will stimulate research and development activities in different geographies?
  • Which are the lucrative growth areas and what is the size of potential they are likely contribute to the overall market?
  • Which disruptions in market growth are likely to come with the new business models?
  • Which are some of the recent overhauls in policies that may change the course of the market significantly?
  • Which are the geographies that will form sizable sources of new streams to new and established players alike?
  • How are top players likely to realign their strategy to counter the forces of competition?
  • Which key strategies emerging players are likely to focus on to consolidate their position?
  • Which changes in end-user preferences might affect the status quo held by the leading players?
  • Which are some of the game-changing innovations influencing the projected share and revenue of the market and its segments?

Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.

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