Global Confectionery Market: Snapshot
Confectioneries refer to chocolates and gums. Major manufacturers in the global confectionery market are focused on capitalizing the rising trend of healthy snacking in all worldwide locations. As a result, they are investing in the production of premium quality products. This factor is projected to generate promising expansion opportunities in the global confectionery market during the assessment period of 2020 to 2030.
An upcoming research report by Transparency Market Research on the confectionery market gives 360-degree analysis of this market. Thus, it covers reliable data on drivers, challenges, restraints, and growth opportunities in this market. In addition to this, the study provides data on various trends and consumer preferences influencing sales of the market for confectionery. As a result, this report works as a dependable handbook for all entities working in the confectionery market to gain insights and forecasts of market during 2020–2030.
The study bifurcates global confectionery market based on three important parameters such as distribution channels, type, and region. Based on distribution channel, the market for confectionery is classified into convenience stores, online retail, hypermarket/supermarket, and departmental stores.
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Global Confectionery Market: Growth Dynamics
The global confectionery market is slated to show stupendous sales opportunities during 2020 to 2030. This growth is attributed to plethora of factors including growing acceptance and rising indulgence of chocolates and chocolate snacks across the globe. In addition to this, the market for confectionery is expanding at rapid pace on the back of improved disposable income of major worldwide population.
In recent years, majority of population living in various developing countries is inclined toward the acceptance of western culture. This situation has resulted into encouraging people to spend considerable amount of money on various types of confectioneries such as chocolates and gums. This factor is boosting sales in confectionery market. In addition to this, steady development of emerging economies is foreseen to have positive impact on the expansion of the confectionery market in the years ahead.
Global Confectionery Market: Competitive Analysis
The global confectionery market experiences highly consolidated nature. This situation is due to dominance of a few industry leaders. As a result, the competitive landscape of the market for confectionery is remarkably intense. To sustain in this atmosphere, enterprises are executing many strategies. Many players are increasing focus toward offering superior quality products. Thus, they are investing heavily on research and development activities.
Several enterprises in the confectionery market are eyeing advancement of their distribution channels. Similarly, some of industry leaders are utilizing the strategy of reducing the prices of their products. Owing to implementation of all these strategies, the global market for confectionery is foreseen to expand at decent pace during the assessment period of 2020 to 2030.
Present study profiles following key players working in the confectionery market:
- Ferrero Group
- The Hershey Company
- MondelÄ“z International
- Mars, Incorporated.
- Parle Products Pvt. Ltd.
- Nestlé S.A.
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Global Confectionery Market: Regional Assessment
On regional front, North America is one of the lucrative regions for the expansion of confectionery market. The spending power of major population living in this region is improved. As a result, the major consumer base in this region in inclined toward the consumption of premium quality chocolates over other confectionery products. In addition to this, presence of noteworthy number of important players in the region is one of the key factors impacting positively on North America confectionery market growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.