The Latest Confectionery Industry Statistics Explained
The global confectionery market size was valued at USD 210.3 billion in 2020,
The statistic stating that the global confectionery market size was valued at USD 210.3 billion in 2020 refers to the total revenue generated by the confectionery industry worldwide during that year. This figure represents the combined value of sales of various confectionery products such as chocolates, candies, chewing gum, and other sweet treats across different regions and markets. The market size serves as a key indicator of the scale and economic significance of the confectionery sector, reflecting consumer demand, industry competitiveness, and overall trends in the global food and beverage market. The substantial size of the confectionery market highlights the widespread appeal and consumption of sweet products among consumers globally, making it a significant player in the overall food industry landscape.
The market is expected to expand at a compounded annual growth rate of 4.2% from 2021 to 2028,
This statistic indicates that the market in question is projected to grow consistently at a rate of 4.2% per year from 2021 to 2028. Compounded annual growth rate (CAGR) is a measure used to represent the mean annual growth rate of an investment over a specified time period, taking into account the effects of compounding. In this context, the CAGR of 4.2% tells us that the market’s value is forecasted to increase by that percentage every year, resulting in a cumulative growth of approximately 38.8% over the entire period from 2021 to 2028. This prediction suggests a positive outlook for the market, indicating potential opportunities for investors and businesses within this sector.
The market has seen a shift towards dark, organic, and sugar-free chocolates,
The statement suggests that there has been a notable change in consumer preferences within the chocolate market, with an increasing demand for dark chocolates (which typically have a higher cocoa content and are less sweet), organic chocolates (produced without synthetic chemicals or pesticides), and sugar-free chocolates (which cater to health-conscious consumers or individuals with dietary restrictions). This shift implies a growing awareness and emphasis on health, sustainability, and potentially ethical considerations among chocolate consumers. It also indicates a trend towards more specialized and diverse product offerings within the chocolate industry, as manufacturers respond to changing consumer tastes and preferences.
The European confectionery market size was estimated to be over USD 60 billion in 2020,
This statistic indicates that the total value of the European confectionery market in 2020 was estimated to be more than USD 60 billion. This figure represents the collective revenue generated by various confectionery products sold in European countries throughout the year. The market size serves as a key indicator of the economic significance and consumer demand for confectionery items in the region. The data suggests a substantial market opportunity for confectionery manufacturers, retailers, and other stakeholders operating within the European confectionery industry. Understanding the market size helps businesses make informed decisions regarding production, marketing strategies, and investment opportunities to better cater to the needs and preferences of consumers in this lucrative market.
The Asia Pacific region is expected to witness the fastest growth due to increasing consumption of sweets,
The statistic that the Asia Pacific region is expected to witness the fastest growth due to increasing consumption of sweets indicates a trend of rising demand for confectionery products in this region. This growth is likely driven by factors such as increasing disposable income, urbanization, changing consumer preferences, and a growing young population that has a penchant for sweet treats. As people in the Asia Pacific region become more affluent and adopt a more Westernized lifestyle, there is a shift towards higher consumption of sweets and indulgent food products. This presents opportunities for companies in the confectionery industry to expand their market presence and cater to the evolving tastes and preferences of consumers in this region.
North America held the largest share of 30.4% in the confectionery market in 2020,
The statistic indicates that North America represented the largest portion, or share, of the confectionery market in 2020, accounting for 30.4% of the total market. This means that out of all the confectionery products consumed or sold globally in 2020, nearly one-third originated from or were consumed in North America. Such a significant market share highlights the region’s strong presence and importance in the confectionery industry. Factors contributing to North America’s dominance in this market may include high demand for confectionery products, extensive distribution networks, established brands, and consumer preferences for sweet treats in the region.
In 2019, the chocolate segment accounted for 60% of the global confectionery market,
The statistic indicates that in 2019, the chocolate segment held a significant share of the global confectionery market, amounting to 60%. This demonstrates the strong preference and demand for chocolate products among consumers worldwide. The substantial market share of the chocolate segment suggests that it is a key player in the confectionery industry, competing with other types of sweets and treats. Companies within the chocolate industry likely have a competitive advantage and are influencing the overall market dynamics. Overall, the statistic highlights the prominence and importance of chocolate in the global confectionery market in 2019.
The gum segment is expected to register the highest CAGR of 5.0% between 2021 and 2028,
The statistic indicates that the gum segment, which includes products like chewing gum, is projected to experience the highest Compound Annual Growth Rate (CAGR) of 5.0% between the years 2021 and 2028. This suggests that the demand for gum products is expected to grow steadily over this time period, at a faster rate compared to other segments in the market. The high CAGR implies potential opportunities for growth and profitability within the gum industry, attracting attention from investors, manufacturers, and other stakeholders. Factors contributing to this growth could include changing consumer preferences, new product innovations, and increased market penetration, leading to a positive outlook for the gum segment in the coming years.
In 2020, the offline distribution channel held more than 80% of the market share in terms of revenue,
The statistic suggests that in 2020, the offline distribution channel dominated the market in terms of revenue, holding a share of more than 80%. This indicates that the majority of sales in the industry were generated through physical retail stores, wholesalers, or other traditional brick-and-mortar outlets rather than online platforms. The substantial market share held by the offline channel implies that it was the preferred choice for consumers to make purchases, potentially due to factors such as convenience, trust, or a preference for in-person shopping experiences. This information highlights the continued importance and relevance of traditional offline distribution channels in the marketplace despite the growing popularity of online shopping.
By 2023, global confectionery sale is expected to hit USD 237 billion,
The statistic “By 2023, global confectionery sale is expected to hit USD 237 billion” indicates a projected increase in the total revenue generated from the sale of confectionery products worldwide. This figure suggests a significant growth potential in the confectionery industry, reflecting strong consumer demand for sweets and treats. The expected revenue of USD 237 billion by 2023 highlights the size and importance of the confectionery market on a global scale, signaling opportunities for businesses in this sector to capitalize on the increasing demand for confectionery products in the coming years.
The UK confectionery market was valued at $9.5 billion in 2021,
The statistic “The UK confectionery market was valued at $9.5 billion in 2021” indicates the total estimated worth of the confectionery industry in the United Kingdom for the year 2021. This value encompasses the revenues generated from the sale of various confectionery products such as chocolates, candies, sweets, and other sugar-based treats within the UK market. The $9.5 billion valuation signifies the economic significance and scale of the confectionery sector, reflecting consumer demand, industry competition, and overall market trends in the UK during the specified timeframe. This statistic serves as a key indicator for market analysts, businesses, and policymakers to assess the performance and potential growth opportunities within the UK confectionery industry.
The American candy industry directly employs 54,000 people,
The statistic “The American candy industry directly employs 54,000 people” indicates the number of individuals who work within the candy industry in the United States in various capacities such as production, distribution, marketing, and sales. This figure gives insight into the significant role that the candy industry plays in the country’s economy by providing employment opportunities for a large workforce. Additionally, it highlights the scale of the industry’s operations and its impact on the labor market, as these 54,000 workers contribute to the production and distribution of a wide range of confectionery products that are consumed domestically and exported globally.
In 2019, Nestlé accounted for about 11.5% market share in the global confectionery market,
In 2019, Nestlé held approximately 11.5% of the market share in the global confectionery market. This statistic indicates the proportion of total sales within the confectionery industry that can be attributed to Nestlé specifically. A market share of 11.5% suggests that Nestlé is a significant player in the confectionery market, competing with other companies for consumer spending and influencing industry trends. This statistic provides valuable insights into Nestlé’s competitive position within the confectionery sector and its relative size compared to other key players in the industry.
By 2025, total confectionery consumption volume in India was forecasted to reach 709.8 thousand metric tons,
The statistic “By 2025, total confectionery consumption volume in India was forecasted to reach 709.8 thousand metric tons” indicates the projected amount of confectionery products that are expected to be consumed in India by the year 2025. This forecasted volume of 709.8 thousand metric tons reflects the anticipated level of demand for confectionery goods in the country, taking into consideration various factors such as population growth, changing consumer preferences, and economic conditions. The statistic suggests a significant consumption of confectionery items in India, highlighting the popularity and market potential of the confectionery industry in the country as well as indicating potential opportunities for confectionery manufacturers and retailers.
The US is the top consumer of candy, followed by Russia and Germany,
This statistic indicates that the United States ranks first in terms of candy consumption, with Russia and Germany following closely behind. The data suggests that the US population has the highest per capita consumption of candy compared to other countries, with Russia and Germany showing similarly high levels of candy consumption. This information provides insight into consumer preferences and spending habits within these countries, potentially reflecting cultural factors, economic conditions, and marketing influences on candy consumption patterns. Overall, this statistic highlights the popularity of candy as a treat or snack among consumers in these countries and emphasizes the significance of the confectionery industry in catering to their preferences.
The confectionery industry in Australia generated a revenue of 6.4 billion Australian dollars in 2021,
The statistic indicates that the confectionery industry in Australia generated a total revenue of 6.4 billion Australian dollars in the year 2021. This figure reflects the amount of money earned by companies operating within the confectionery sector through the sale of various candy and sweet treats. The revenue generated by the industry serves as a key indicator of the economic importance and market size of the confectionery sector in Australia. It also highlights the spending patterns of consumers in relation to indulgent and non-essential goods such as confectionery products. This statistic is valuable for stakeholders within the industry, policymakers, and analysts seeking to understand the performance and contribution of the confectionery sector to the overall economy.
China is expected to become the second most valuable confectionery market by 2022,
The statement indicates that China is forecasted to achieve a significant increase in its confectionery market value, placing it as the second-largest confectionery market globally by the year 2022. This suggests a substantial growth trajectory in the country’s confectionery industry, likely driven by factors such as increasing disposable income, changing consumer preferences, and a growing appetite for sweet treats. The statistic highlights China’s emergence as a major player in the global confectionery market, with implications for multinational confectionery companies looking to capitalize on this expanding market opportunity and cater to the evolving tastes of Chinese consumers.
Nearly 75% of consumers in the US are planning to share or gift chocolate and candy in 2021,
The statistic indicates that a substantial majority, about 75%, of consumers in the United States intend to share or gift chocolate and candy during the year 2021. This suggests a strong cultural and social tradition of sharing treats like chocolate and candy among the American population. The significant percentage also implies a high level of interest and participation in gift-giving practices involving sweets, potentially driven by seasonal occasions or special events throughout the year. This statistic could have implications for the chocolate and confectionery industry as companies may expect increased demand and sales, particularly around holidays and festive periods when such gifts are commonly exchanged. Overall, the statistic highlights the enduring popularity and widespread appeal of chocolate and candy as gifts among American consumers.
Japan led the APAC confectionery market with a revenue of over $16 billion USD in 2020,
The statistic ‘Japan led the APAC (Asia Pacific) confectionery market with a revenue of over $16 billion USD in 2020’ indicates that Japan generated the highest revenue in the confectionery industry among all the countries in the Asia Pacific region during the year 2020. This suggests that Japan has a strong presence in the confectionery market and is a key player in terms of sales and revenue compared to other countries in the region. The significant revenue figure of over $16 billion USD underscores the importance of the Japanese confectionery market in the APAC region, highlighting the country’s successful performance and competitiveness in this industry during the specified period.
References
0. – https://www.www.ibisworld.com
1. – https://www.www.statista.com
2. – https://www.www.candyindustry.com
3. – https://www.www.mordorintelligence.com
4. – https://www.premiummarketinsights.com
5. – https://www.www.grandviewresearch.com
6. – https://www.candyusa.com
