Global Confectionery Market: Snapshot
Confectioneries refer to chocolates and gums. Major manufacturers in the global confectionery market are focused on capitalizing the rising trend of healthy snacking in all worldwide locations. As a result, they are investing in the production of premium quality products. This factor is projected to generate promising expansion opportunities in the global confectionery market during the assessment period of 2020 to 2030.
An upcoming research report by Transparency Market Research on the confectionery market gives 360-degree analysis of this market. Thus, it covers reliable data on drivers, challenges, restraints, and growth opportunities in this market. In addition to this, the study provides data on various trends and consumer preferences influencing sales of the market for confectionery. As a result, this report works as a dependable handbook for all entities working in the confectionery market to gain insights and forecasts of market during 2020–2030.
The study bifurcates global confectionery market based on three important parameters such as distribution channels, type, and region. Based on distribution channel, the market for confectionery is classified into convenience stores, online retail, hypermarket/supermarket, and departmental stores.
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Global Confectionery Market: Growth Dynamics
The global confectionery market is slated to show stupendous sales opportunities during 2020 to 2030. This growth is attributed to plethora of factors including growing acceptance and rising indulgence of chocolates and chocolate snacks across the globe. In addition to this, the market for confectionery is expanding at rapid pace on the back of improved disposable income of major worldwide population.
In recent years, majority of population living in various developing countries is inclined toward the acceptance of western culture. This situation has resulted into encouraging people to spend considerable amount of money on various types of confectioneries such as chocolates and gums. This factor is boosting sales in confectionery market. In addition to this, steady development of emerging economies is foreseen to have positive impact on the expansion of the confectionery market in the years ahead.
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Global Confectionery Market: Competitive Analysis
The global confectionery market experiences highly consolidated nature. This situation is due to dominance of a few industry leaders. As a result, the competitive landscape of the market for confectionery is remarkably intense. To sustain in this atmosphere, enterprises are executing many strategies. Many players are increasing focus toward offering superior quality products. Thus, they are investing heavily on research and development activities.
Several enterprises in the confectionery market are eyeing advancement of their distribution channels. Similarly, some of industry leaders are utilizing the strategy of reducing the prices of their products. Owing to implementation of all these strategies, the global market for confectionery is foreseen to expand at decent pace during the assessment period of 2020 to 2030.
Present study profiles following key players working in the confectionery market:
- Ferrero Group
- The Hershey Company
- MondelÄ“z International
- Mars, Incorporated.
- Parle Products Pvt. Ltd.
- Nestlé S.A.
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Global Confectionery Market: Regional Assessment
On regional front, North America is one of the lucrative regions for the expansion of confectionery market. The spending power of major population living in this region is improved. As a result, the major consumer base in this region in inclined toward the consumption of premium quality chocolates over other confectionery products. In addition to this, presence of noteworthy number of important players in the region is one of the key factors impacting positively on North America confectionery market growth.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
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