Country-Niche Players and Regional Players constitute ~65% and ~30% of market presence respectively Despite the Presence of about ~500 Competitors, find a Recent Market Study on Global Sugar Confectionery Products Market
Confections made with sugar are known as sweets, and nearly every socioeconomic group consumes them. Individually wrapped candies to expensive items in tasteful packaging are just a few of the many variations of these products that are available. Because of changes in regulatory standards and other factors including the economy, flavor, and consumer demand, the sort of confectioneries that are preferred frequently differs by geographic region.
Ken Research shares 3 key insights on this high-opportunity market from its latest research study.
1. Large Global Players Hold Around 45% of the Market Share Followed by Regional Players Holding ~30% of the Market Share
A comprehensive competitive analysis conducted during the Research Study found that the global sugar confectionery products market is competitive with ~600 players which include globally diversified players, and regional players, as well as a large number of country-niche players.
According to the research, the country-niche players held the dominant position in the market in 2021, in terms of the market share with about ~40% followed by global players which account for ~35% of the market share.
2. Players are Increasingly Investing in the Sugar Confectionery Products Industry which is Promoting the Market Growth
Manufacturers of confections are enhancing the market's flavor profile with herbs and spices that are found in nature. The confectionery market has developed significantly thanks to innovation. The term "natural flavor" or "natural flavoring" refers to any essential oil, oleoresin, essence or extractive, protein hydrolysate, distillate, or other product of roasting, heating, or enzymolys is that contains flavoring components derived from a spice, fruit or fruit juice, vegetable or vegetable juice, etc., as defined by the USA FDA.
Not just key players but also emerging players are expanding in the sugar confectionery products industry and are also investing in strategies like collaborations and technological development to compete in the industry.
- In November 2022, Painfree Chocolate, created by The Functional Chocolate Company, has been made available to help with common aches, pains, and inflammation.
Painfree Chocolate is made with a base of vegan, gluten-free, and ethically sourced dark chocolate that has a subtle chai taste and contains a blend of natural ingredients like turmeric, white willow, arnica, and hops extract.
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3. Increased Adoption of Sugar Confectionery Products in Various Parts of the World leading to Major Industry-Wide Developments, Acquisitions, and Deal-Wins
- In November 2022, Ferrero introduced a range of holiday candies for the important US market. As the chocolate giant reveals its complete intentions for the region this Christmas, Ferrero's US operations have entered full holiday mode, according to Neill Barston.
- In October 2022, The Trinidad and Tobago Chamber of Industry and Commerce presented 2022 Internationally Known T&T Owned Company of the Year Award to KC Confectionery (T&T Chamber).
Key Topics Covered in the Report:-
Snapshot of the Global Sugar Confectionery Products Market
Industry Value Chain and Ecosystem Analysis
Market size and Segmentation of the Global Sugar Confectionery Products Market
Historic Growth of the Overall Global Sugar Confectionery Products Market and Segments
Competition Scenario of the Market and Key Developments of Competitors
Porter’s 5 Forces Analysis of the Global Sugar Confectionery Products Market
Overview, Product Offerings, and SWOT Analysis of Key Competitors
COVID-19 Impact on the Overall Global Sugar Confectionery Products Market
Future Market Forecast and Growth Rates of the Total Global Sugar Confectionery Products Market and by Segments
Market Size of Product Type/ Packaging Type Segments with Historical CAGR and Future Forecasts
Analysis of the Sugar Confectionery Products Market in Major Regions
Major Production / Consumption Hubs in the Major Regions
Major Country-wise Historic and Future Market Growth Rates of the Total Market and Segments
Overview of Notable Emerging Competitor Companies within Each Major Country
Major Players Mentioned in the report:-
Perfetti Van Melle
The Hershey Company
Specialty Food Association, Inc.
The Kraft Heinz Company
Jelly Belly Candy Company
Lindt & Sprüngli AG
HARIBO of America, Inc.
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Notable Emerging Companies Mentioned in the Report
AAK Confectionery Innovation
Shantou Yixin Food Co., Ltd.
Suntak Foods Manufacturing Co., LTD.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
Confectionery Products Manufacturers
Confectionery and Chocolate Product Development Companies
Vegan Confectionery Manufacturers
Confectionery Raw Materials Suppliers
Government Ministries and Departments of Food Industry
Food Regulatory Authorities
Food Manufacturers Associations
Confectionery Product Manufacturers Associations
Time Period Captured in the Report:-
Historical Period: 2017-2021
Forecast Period: 2022E-2028F
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