Sugar
confectionery comprises of many different products, such as boiled
sweets, lollipops, medicated confectionery, mint, pastilles, gums,
jellies and chews, toffees, caramels and nougats and others. The
sugar confectionery industry is growing at a significant rate due to
the rising demand for confectionery products, medicated confectionery
products and sweet snacks items. In addition, changing lifestyle and
increasing customer preference for gifting confectionery items fueled
by the growing retail sector is further boosting the market for sugar
confectionery in Asia Pacific. Growing sugarcane industry and
innovation in sugar confectionery products is enhancing the Latin
America sugar
confectionery market.
By
types, the market is segmented into boiled sweets, lollipops,
medicated confectionery, mint, pastilles, gums, jellies and, chews,
toffees, caramels and nougat and others. Moreover, the report also
provides cross sectional analysis of all the above segments across
different countries within different regions such as Asia Pacific and
Latin America. Asia Pacific country includes India, china, Japan,
South Korea and Rest of Asia Pacific. Latin America includes country
such as Brazil, Argentina and Rest of Latin America.
In
2014, among the different types of sugar confectionery, the toffees,
caramels and nougat segment occupied the largest market share.
However, the medicated confectionery segment is anticipated to
witness the fastest growing market. The rapid growth of this segment
is attributed to the increasing demand for medicated confectionery
products, used in the formulation of drugs for many conditions such
as colds, coughs, respiratory tract congestion and allergies are the
main factors driving the growth of this market.
The
boiled sweets have gained popularity across different application
segment owing to consumer preference as a gift especially for
children and it’s also used as snacks item. Currently, boiled
sweets hold the second largest market share of sugar confectionery
market due to growing trend
of snacks between meals and increasing trend of the nutritional
content of sugar confectionery. Moreover, increasing sales owing to
growing number of super market and retail channel is expected during
the forecast period. Popularity of boiled sweets and its affordable
price is projected to benefit the overall sugar confectionery market.
In addition, pastilles, gums, jellies and chews manufacturers are
focused on rising concern about obesity among youth. Therefore they
are in the process of improving their products and introducing gluten
free products.
Currently,
toffees, caramel and nougat market expected a significant growth
during the forecast period due to the awareness about the products
created by the multinational and local manufacturers. The
manufacturers not only focused on urban area but also they tried to
cater the rural market. In addition, the rising demand and increasing
trend of gifting confectionery product and especially in the occasion
like Christmas, new year and others the manufacturers made different
shape and flavor of confectionery products .Owing to these factors
the market of total sugar confectionery is growing substantially
Geographically,
the Latin America sugar confectionery market is predicted to
experience the fastest growth from 2015 to 2023 in Asia Pacific and
Latin America sugar confectionery market. Growing sugarcane industry
and innovation in sugar confectionery products is enhancing the Latin
America sugar confectionery market.
In
order to get a better understanding of the sugar confectionery
market, a key trends analysis has been included for all the segments.
Furthermore, the market share of the major players in the sugar
confectionery market has also been discussed in terms of market share
revenue held in Asia pacific and Latin America. In addition, the key
players in the market have also been profiled in terms of their
product segments, financial overview, recent developments and
business strategies adopted by them. The leading players in the
market include Mars Inc., Mondelez International, Ferrero SpA, The
Hershey Company, Nestle S.A., Lindt & Sprungli, Lotte
Confectionery Co. Ltd. and Perfetti Van Mella SpA among others.
The
Asia Pacific and Latin America sugar confectionery market can be
segmented as follows;-
Asia
Pacific and Latin America Sugar Confectionery Market, by Product Type
- Boiled Sweets
- Lollipops
- Medicated Confectionery
- Mint
- Pastilles, Gums, Jellies and Chews
- Toffees, Caramels and Nougat
- Other
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