Non-Cocoa Confectionery Market Overview:
The global non-cocoa confectionery market is analysed in detail in the new report from Market Research Future (MRFR). The market’s growth rate over the forecast period till 2022 is analysed in detail in the report, with information about the historical trajectory of the market and present leaders within the market.
Europe Non-Cocoa Confectionery Market is a vibrant and dynamic segment of the region's confectionery industry, offering a wide variety of candies, gums, and other sweets to consumers across the continent. From fruity gummies and licorice candies to refreshing mints and chewing gums, non-cocoa confectionery products cater to diverse tastes and preferences of European consumers. In countries like Germany and the United Kingdom, traditional confectionery brands coexist with innovative newcomers, offering a range of flavors and formats to suit different consumer preferences. As Europeans increasingly seek out indulgent and flavorful treats, the non-cocoa confectionery market in Europe presents opportunities for manufacturers to introduce new products and capitalize on emerging trends.
Non-Cocoa Confectionery Market is projected to grow USD 57.66 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.3% during the forecast period (2022 - 2030)
Non-cocoa confectionery includes a number of products such as sugar candies, lollipops, gummy candies, and candy bars. These products have gained widespread popularity all over the world due to their aggregable flavor, the availability of various types and forms of non-cocoa confectionery, and the increasing demand for sugary snacks as well as high-protein snacks. The increasing spending power of younger consumers in emerging regions across the world is likely to be a major driver for the global Non-Cocoa Confectionery Market over the forecast period, as these products are highly popular within this demographic.
Growing spread of the distribution network required for widespread distribution of non-cocoa confectionery is likely to be a key driver for the global non-cocoa confectionery market over the forecast period. The growing prevalence of super/hypermarkets in urban centers in emerging countries is likely to be a major driver for the global non-cocoa confectionery market over the forecast period. The increasing sales of non-cocoa confectionery products are the result of the increasing disposable income of consumers in these regions, who have become keen purchasers of Western brands of non-cocoa confectionery, which often excel local brands in terms of quality and brand value. The growing prevalence of Western confectionery brands in emerging regions such as Asia Pacific is likely to be a major driver for the global non-cocoa confectionery market over the forecast period. Several confectionery makers have recently made moves to ensure sustained success in the emerging Asia Pacific market, which is likely to remain fruitful for the global non-cocoa confectionery market over the forecast period.
Segmentation:
By type, the global non-cocoa confectionery market is segmented into sugar confectionery, gum confectionery, and others. Sugar confectionery is likely to retain a dominant share in the global non-cocoa confectionery market over the forecast period due to the widespread popularity of sugar confectionery and the ease of innovating new flavors in the products. The increasing incorporation of new and varied flavors by manufacturers is likely to be a major driver for the global non-cocoa confectionery market over the forecast period. Gum confectionery is also likely to be widely popular over the forecast period due to the growing popularity of gum among younger demographics as well as older demographics. The increasing innovation of new flavors and widespread popularity of gum confectionery is likely to be a major driver for the non-cocoa confectionery market over the forecast period.
By form, the global non-cocoa confectionery market is segmented into candies, candy bars, gummy candies, lollipops, and others.
Competitive Landscape:
Leading Non-Cocoa Confectionery Market Companies in the include Mondelez International Inc., The Hershey Company, Arcor Group, Lindt Sprüngli, Lotte Sugar Confectionery Co. Ltd., Ezaki Glico, ITC Limited, Orion Confectionery Co. Ltd., MARS Inc., Morinaga Co. Ltd., Cloetta AB, DS Group, Nestle India Limited, and Ferrero SpA.
Industry Updates:
In February 2019, U.S. candy and nut maker Mount Franklin announced plans to build a new 220,000 sq ft factory in San Jeronimo, Mexico.
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