Global Sugar Confectionery Market: Overview
The emergence of sugar-free confectionery and the rising demand for private labels are pegged as some of the promising factors estimated to drive the global sugar confectioneries in the next few years. In addition, the growing focus on product innovation and rising trend of gifting sugar confectionery are expected to encourage the growth of the overall market. The growing population and technological advancements in developing nations are expected to contribute extensively towards the growth of the global sugar confectionery market.
The report studies the sugar confectionery market across the globe thoroughly, focusing on the key growth prospects. The research study comprises a SWOT analysis of the leading players to offer a clear picture of the strengths, weaknesses, opportunities, and threats that are expected to influence the growth of the global sugar confectionery market. In addition, the use of Porter’s five forces analysis helps in identifying the bargaining power of buyers and suppliers, threat of new entrants, and the intensity of the competitive rivalry. The past performance and developments in the global sugar confectionery market have been discussed in the scope of the research report and compared with the current scenario to determine the growth prospects of the market.
Global Sugar Confectionery Market: Drivers and Restraints
The expansion of product portfolio and growing retail market are the primary factors estimated to drive the demand for sugar confectionery in the coming years. Key players in the market are emphasizing on promotional activities, advertising campaigns, and social media marketing to expand their horizon and gain a competitive advantage in the market. In addition, these players are marking notable efforts to enter developing nations in order to exploit lucrative market opportunities surfacing here.
On the flip side, the growing awareness regarding a healthy lifestyle and wellness and the rising number of diabetes cases worldwide are estimated to restrict the growth of the market in the near future. Moreover, the rising inclination of consumers towards dark chocolate and growing competition from unorganized and local players are some of the key challenges for the leading players. Nonetheless, the rising demand for natural and organic candies and premium products is expected to generate potential opportunities for the leading players.
Global Sugar Confectionery Market: Region-wise Outlook
A wide range of sugar confectionery is available across the globe and volume sales are showing a progressive increase. The global market for sugar confectionery has been classified on the basis of geography into North America, Europe, Asia Pacific, and Rest of the World. The global sugar confectionery market is expected to witness significant growth, especially in developed countries. The rising number of distribution channels, such as hypermarkets, supermarkets, and retail stores in developed countries is one of the key factors boosting the demand for sugar confectioneries.
Among the key geographical regions, at present, Europe holds a massive share in the global market and is estimated to remain in the leading position in the next few years. On the other hand, North America and Asia Pacific are projected to witness steady growth throughout the forecast period, thanks to the rising disposable income of consumers. In addition, the rising population in developing countries is expected to drive the demand for sugar confectionery in developing countries.
Key Players Mentioned in the Research Report are:
Some of the prominent players operating in the sugar confectionery market across the globe are Nestlé SA, Lindt & Sprungli, Chupa Chups SA., Mars Inc., Cadbury PLC., Kraft Foods Inc., the Hershey Company, Ferrero SpA., Perfetti Van Melle S.P.A., and WM Wrigley JR Company. The rising popularity of sugar confectioneries is expected to attract new players in the near future and intensify the competitive scenario of the market.
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.