Key regions: Spain, Canada, Japan, South Korea, Russia
The Food market in China has seen minimal growth in the Confectionery & Snacks Market, driven by factors such as changing consumer preferences, increasing health awareness, and convenience of online purchasing. Sub-markets such as Chocolate Confectionery and Ice Cream contribute to this growth, while Preserved Pastry Goods & Cakes show slower growth. Economic factors and competition from healthier options may be impacting the overall market's growth rate.
Customer preferences: In China, the Confectionery Market is experiencing a shift towards healthier and more functional products, as consumers prioritize wellness and nutrition. This is driven by growing health consciousness and concerns over food safety. Additionally, there is a rising demand for premium and indulgent confectionery products, as disposable incomes increase and consumers seek out new and unique experiences. This trend is further fueled by the influence of social media and the desire for aesthetically appealing products.
Trends in the market: In China, the Confectionery market is experiencing a shift towards healthier options, with increasing demand for sugar-free and organic products. This trend is driven by a growing awareness of health and wellness among consumers, as well as government initiatives to reduce sugar consumption. In addition, there is a rise in online sales of confectionery products, as e-commerce continues to gain popularity in China. These trends present opportunities for industry stakeholders to tap into the growing demand for healthier options and leverage the online market to reach a wider consumer base.
Local special circumstances: In China, the Confectionery market is heavily influenced by the country's large population and strong emphasis on gift-giving culture. This has led to a high demand for premium and luxury confectionery products, especially during holidays and special occasions. Additionally, China's strict regulations on imported goods have created a unique market for domestic confectionery companies, driving competition and innovation in the industry. The country's rapid urbanization and increasing disposable income among its middle class have also contributed to the growth of the Confectionery market, as consumers seek out indulgent treats and snacks.
Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is greatly impacted by macroeconomic factors in China. The country's economic growth and stability, along with its investment in infrastructure and consumer spending, have a significant influence on the market. Additionally, changing consumer preferences and increasing disposable income are driving the demand for high-quality and innovative confectionery products. However, economic slowdowns and fluctuations in the Chinese economy can have a negative effect on the market, leading to a decrease in consumer spending and demand for confectionery products. Furthermore, government policies and regulations, such as import and export restrictions, can also impact the market's growth and performance.
Data coverage:
The data encompasses B2C enterprises. Figures are based on the total consumer spending on food, which comprises all private household spending on food that is meant for at-home consumption (out-of-home consumption is not accounted for).Modeling approach:
Market sizes are determined through a top-down approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use resources from the Statista platform as well as in-house market research, national statistical offices, international institutions, trade associations, companies, the trade press, and the experience of our analysts. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, consumer spending, and consumer price index. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing is well suited for forecasting the Food market with a projected steady growth. The main drivers are GDP per capita and consumer spending per capita.Additional notes:
The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year.
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