Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks Market within The Food market in Canada has seen minimal growth due to factors such as changing consumer preferences, increasing health consciousness, and the rise of healthier snacking options. Despite this, the convenience and indulgence offered by these products continue to drive demand.
Customer preferences: With the rise of health-conscious consumers, the Confectionery & Snacks Market within The Food market has seen a growing demand for healthier options. This trend is driven by factors such as shifting demographics, with younger generations placing more emphasis on health and wellness. As a result, there has been an increase in the availability of alternative snacks made from natural and organic ingredients, as well as a rise in demand for plant-based and functional snacks. This shift towards healthier snacking options is also influenced by cultural nuances, with the growing popularity of international cuisines and a greater emphasis on clean eating.
Trends in the market: In Canada, the Confectionery & Snacks Market within The Food market is experiencing a shift towards healthier snacking options, with consumers seeking out products that are low in sugar and made with natural ingredients. This trend is being driven by the growing demand for healthier food choices and the rising awareness of the negative health effects of excessive sugar consumption. Industry stakeholders are responding by reformulating their products and introducing new options to meet this demand. Additionally, there is a rise in e-commerce sales for confectionery and snacks, as more consumers turn to online shopping for their food needs. This trend is expected to continue, with potential implications for brick-and-mortar retailers who may need to adapt their strategies to stay competitive in the changing market landscape.
Local special circumstances: In Canada, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's unique multicultural landscape. With a diverse population and a strong demand for international flavors, the market is driven by a variety of products catering to different cultural tastes. Additionally, strict regulations on food labeling and ingredients ensure the safety and transparency of products, creating a sense of trust among consumers. Furthermore, the country's vast geography and varying climate also play a crucial role in shaping consumer preferences and demand for certain products, such as seasonal treats and healthy snack options.
Underlying macroeconomic factors: The Canadian Confectionery & Snacks Market within The Food market is heavily impacted by macroeconomic factors such as consumer spending, population demographics, and overall economic health. The global trend of increasing health consciousness and demand for healthier snack options has influenced the market in Canada as well, leading to a rise in sales of healthier snack alternatives. Canada's stable economic conditions and government support for the food industry have also contributed to the growth of the Confectionery & Snacks Market. However, the industry is facing challenges due to rising raw material costs and changing consumer preferences. The increasing prevalence of chronic diseases and the aging population in Canada also play a significant role in driving demand for healthier snack options to promote better health outcomes. Overall, the Canadian Confectionery & Snacks Market within The Food market is expected to continue experiencing steady growth, influenced by both global and national macroeconomic factors.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
