Confectionery & Snacks - Armenia

Armenia

Highlights

Revenue in the Confectionery & Snacks market amounts to US$629.00m in 2024. The market is expected to grow annually by 6.74% (CAGR 2024-2029).
In global comparison, most revenue is generated United States (US$135bn in 2024).
In relation to total population figures, per person revenues of US$226.40 are generated in 2024.
In the Confectionery & Snacks market, volume is expected to amount to 116.60m kg by 2029. The Confectionery & Snacks market is expected to show a volume growth of 3.1% in 2025.0.
The average volume per person in the Confectionery & Snacks market is expected to amount to 36.4kg in 2024.

Key regions:

Market definitionIn-Scope/Out-of-scopeMarket structureReportsMethodology

The Confectionery & Snacks Market in Armenia is experiencing minimal growth, influenced by factors such as the increasing demand for healthier snack options, growing health consciousness among consumers, and the convenience of online shopping. The market is also impacted by the rising cost of raw materials and competition from other food sub-markets.

Customer preferences: As consumer tastes continue to evolve, there has been a noticeable shift towards healthier snack options in the Confectionery & Snacks Market within The Food market in Armenia. This trend is driven by a growing awareness of the importance of nutrition and wellness, as well as an increasing demand for plant-based and organic products. Additionally, there is a growing preference for smaller and more convenient snack sizes, reflecting the busy and on-the-go lifestyles of many Armenians.

Trends in the market: In Armenia, the Confectionery & Snacks Market is experiencing a surge in demand for healthier options, as consumers become increasingly health-conscious. This trend is particularly evident in the rise of organic, gluten-free, and vegan snack products, as well as the use of natural sweeteners and ingredients. The trajectory of this trend is expected to continue, as consumers prioritize their health and wellness. For industry stakeholders, this shift presents opportunities for innovation and diversification of product offerings. It also emphasizes the need for transparent and ethical sourcing and production practices. Overall, the trend towards healthier snacks in Armenia highlights the changing preferences and priorities of consumers, and industry stakeholders must adapt to meet these demands to remain competitive in the market.

Local special circumstances: In Armenia, the Confectionery & Snacks Market within The Food market is influenced by the country's rich history and culture of producing high-quality, organic ingredients. With a strong emphasis on traditional recipes and locally sourced ingredients, the market caters to a growing demand for healthy and natural snack options. Additionally, the regulatory environment promotes small-scale, artisanal production, creating a unique and diverse market landscape. This, combined with a rising middle class and increasing consumer spending, drives the growth of the market in Armenia.

Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Armenia is heavily influenced by macroeconomic factors such as consumer spending power, inflation rates, and trade policies. With a growing economy and a rising middle class, consumers in Armenia have more disposable income to spend on indulgent food products like confectionery and snacks. However, inflation rates and trade policies can impact the cost of raw materials and imports, thus affecting the pricing and availability of these products in the market. Furthermore, shifts in global economic trends and fiscal policies can also impact the purchasing behavior of consumers, leading to changes in demand for these products.

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.