Vance Anderson / mrfrfood

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.

Read More @ https://www.marketresearchfuture.com/reports/noncocoa-confectionery-market-1712

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.

The Non-Cocoa Confectionery Market was valued at USD 114.08 billion in 2022 and is projected to grow from USD 117.24 billion in 2023 to USD 150.0 billion by 2032. The industry is expected to register a compound annual growth rate (CAGR) of approximately 2.77% during the forecast period 2024–2032.

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.

Competitive Landscape:

Leading Key Non-Cocoa Confectionery Market Players 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.

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.

Regional Analysis:

Europe is likely to be a major regional market in the global non-cocoa confectionery industry due to the strong presence of the chocolate and confectionery industry in Central European countries such as Germany, Belgium, Switzerland, and the Netherlands. Turkey is another major player in the global confectionery market, with several of the region’s delicacies becoming highly popular all over the world. Germany, Belgium, and Turkey count among the top five exporters of confectionery, lending the Europe market significant gravitas in the global non-cocoa confectionery market. Growing popularity of non-cocoa confectionery in Asia Pacific countries such as India, China, Vietnam, Australia, and Thailand is also likely to be a major driver for the European market players, as all major players in the non-cocoa confectionery market are looking to cash in on the boom in the Asia Pacific market.

North America is also a major producer of non-cocoa confectionery and is likely to remain a leading contributor to the global non-cocoa confectionery market over the forecast period due to the growing consumption of non-cocoa confectionery in the U.S. and Mexico. The growing popularity of sugar candies and gum candies in the U.S. is likely to be a major driver for the global non-cocoa confectionery market over the forecast period.

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.