Rise of Private Labels in Global Sugar Confectionery Market Deemed Beneficial for Growth

Transparency Market Research discusses the ins and outs of several top industry verticals in the world. For the food and beverages industry, many players will find “Sugar Confectionery Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024” a valuable document to attain.

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One of the key drivers augmenting the global sugar confectionery market at the moment, is the growing demand for the several popular private labels that operate within the market. Thanks to the increasing disposable income among the working class – especially from the emerging economies – there is a very high demand for known and even globally popular brands of confectionery manufacturers. This is creating a reduction in demand for local manufacturers, while driving a larger chunk of revenue towards the global sugar confectionery market.

Another top driver for the global sugar confectionery market is the growing demand for sugar-free products. Owing to the growing percentage of the global consumer population being affected by chronic illnesses such as diabetes, or even a generally increasing count of health-conscious consumers, there is a very high demand for sugar-free confectioneries in all parts of the world. At the same time, manufacturers are ramping up their innovation processes in terms of products as well as product packaging. This falls in conjunction with the growing trend of gifting confectioneries over mail, further improving the revenue generation of manufacturers in the global sugar confectionery market. The ecommerce industry also plays a significant hand in the proliferation of the global sugar confectionery market, as it allows regions that previously did not have access to popular brands at local stores to purchase them online.

While the demand for sugar-free confectioneries is on the rise, the global sugar confectionery market is also being restrained by the increasing number of health-conscious consumers who are reducing their overall intake of sugar-based confectioneries, which falls under the primary production goals in the market. At the same time, while advancements in technology are allowing global players to achieve better rates of production and innovation, they are also allowing regional players to stack up their production rates, causing a dip in the overall registered revenue in the global sugar confectionery market. This market also faces stern competition from the manufacturers of dark chocolates and similar opposing categories.

Geographically speaking, the global sugar confectionery market has so far been dominated by the developed economies, especially those from Europe. North America and Asia Pacific are expected to show a steady rate of growth in demand for confectioneries. The increase in demand for confectioneries in Asia Pacific is directly attributed to a higher awareness among consumers of global brands and a higher disposable income.

The key players in the global sugar confectionery market today, include Nestlé SA, Chupa Chups SA., Lindt & Sprungli, Cadbury PLC., Mars Inc., The Hershey Company, Kraft Foods Inc., Perfetti Van Melle S.P.A., Ferrero SpA., and WM Wrigley JR Company.