Estimates 2019-2024 Confectionery Market development trends with the recent trends and SWOT analysis. The report provides key statistics, Major Manufacturers, Industry Analysis on the market status of the Confectionery Market is a valuable source.
Dallas, United states – December 6, 2019 /MarketersMedia/ —
Asia-Pacific Confectionery Market is projected to grow at a CAGR of 6.2% during the forecast period (2019-2024).
– Chocolate is the most popular category dominating the market, owing to its increased consumption, globally with Asia-Pacific being a prospective market, owing to the customers’ increasing preference for the exotic confectionary products being sold and manufactured in the countries.
– Chocolate companies, such as Mondel?z International and Ferrero launched Lickables and Kinder, respectively. These products have toys in their chocolate offering, thus attracting the kids segment in their range of chocolate offerings, with innovation in packaging.
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Scope of the Report
Asia-Pacific Confectionery Market is segmented by Product Type as Chocolate Confectionery, Sugar Confectionery, and Snack Bars; by Distribution Channel as Supermarkets and Hypermarkets, Convenience Stores, Online Retail Stores, Specialist Retailers, and other Distribution Channel; and by Geography.
Key Market Trends
Chocolate is the Largest Growing Segment
Rising disposable incomes in Asia-Pacific is leading the Asians to consume more chocolates than sugar confectionery. This is promoting the manufacturers to produce healthy chocolates by maintaining the sugar levels in the chocolate and chocolate products. There is growing popularity of pure chocolates among the Asians as they are more concerned with the quality of the product. Sugar confectionery and Gums are also equally in demand as snacks between meals. Although, in the gum sector, the most visible trends were functional, herbal and sugar-free gums. Also, there would be a growing preference for dark chocolates among the consumers in the coming years.
China Dominates the Confectionery Market
China’s confectionery sales are increasing mainly due to the rise in purchasing power of the Chinese and also increased use of confectionery as a snack among the consumers. Many innovative chocolate products were launched in China making it the most popular confectionery market followed by India and Japan. Confectionery products rather than being used as gifts are also used as ready-to-go snacks between the meals. Chinese consumers prefer small packages of confectionery products for less sugar consumption. Chocolates are used as a stress-buster for the consumers.
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Asia-Pacific Confectionery market is fragmented which consists of players like Mondeléz International Inc., Mars, Incorporated, Nestle, Ferrero, etc. Key players are focusing on online distribution channels for their online marketing and branding of their products, in order to expand their geographic reach and increase their customer base. Mars has adopted various strategic initiatives, such as partnerships and investments, in the recent past, which are expected to enhance its overall business capabilities. In February 2018, the company’s DOVE Chocolate expanded its range of products with the launch of dusted almonds and cashews in market.
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Table of Contents
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
3.1 Market Overview
4 MARKET DYNAMICS
4.1 Market Drivers
4.2 Market Restraints
4.3 Porters Five Forces Analysis
4.3.1 Threat of New Entrants
4.3.2 Bargaining Power of Buyers/Consumers
4.3.3 Bargaining Power of Suppliers
4.3.4 Threat of Substitute Products
4.3.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.1 Chocolate Confectionery
22.214.171.124 Dark Chocolate
126.96.36.199 White and Milk Chocolate
5.1.2 Sugar Confectionery
188.8.131.52 Boiled Sweets
184.108.40.206 Toffees, Caramels and Nougat
220.127.116.11 Pastilles, Gums, Jellies and Chews
5.1.3 Snack Bar
18.104.22.168 Cereal Bars
22.214.171.124 Energy Bars
126.96.36.199 Other Snack Bars
5.2 Distribution Channel
5.2.2 Convenience Stores
5.2.3 Specialist Retailers
5.2.4 Online Retail
5.2.5 Other Distribution Channels
5.3.5 Rest of Asia-Pacific
6 COMPETITIVE LANDSCAPE
6.1 Market Share Analysis
6.2 Most Active Companies
6.3 Most Adopted Strategy
6.4 Company Profiles
6.4.1 Mondelez International Inc.
6.4.2 Mars, Incorporated
6.4.5 Meiji Holdings Co., Ltd.
6.4.6 The Hershey Company
6.4.7 Lotte Confectionery Co. Ltd
6.4.8 Lindt & Sprungli AG
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
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