Confectionery - Armenia | Statista Market Forecast

Revenue in the Confectionery market amounts to US$180.30m in 2024. The market is expected to grow annually by 8.32% (CAGR 2024-2029).
In global comparison, most revenue is generated China (US$84bn in 2024).
In relation to total population figures, per person revenues of US$64.89 are generated in 2024.
In the Confectionery market, volume is expected to amount to 34.33m kg by 2029. The Confectionery market is expected to show a volume growth of 4.7% in 2025.0.
The average volume per person in the Confectionery market is expected to amount to 10.1kg in 2024.

Definition:

The Confectionery market covers food items with a relatively high sugar. Confectionery has a variety of flavorings, colorings, and other components that give them their distinct taste, texture, and appearance. This market is divided into four submarkets: chocolate confectionery, ice cream, preserved pastry goods and cakes and sugar confectionery.

Additional Information:

The market comprises revenue and average revenue per capita, volume and average volume per capita, price per unit (unit refers to kilogram), sales channels. The market encompasses retail sales through both online and offline sales channels to private end customers (B2C). The market only covers at-home consumption; out-of-home consumption is not included.

For more information on the displayed data, click the info button on the right side of each box.

Chocolate products
Sugar confectionery
Ice Cream
Preserved Pastry Goods & Cakes

Nuts
Dried fruit snacks
Chocolate spreads
Desserts
Jams
Out-of-home consumption

The Confectionery market in Armenia has been experiencing minimal growth, influenced by factors such as consumer preferences for healthier options, increasing competition from imported goods, and a slow economy. Despite this, the market remains stable due to the popularity of traditional sweets and the growing demand for premium and artisanal confectionery products.

Customer preferences: The confectionery market in Armenia has seen a growing demand for healthier and more natural options, as consumers become more health-conscious. This has led to an increase in products with reduced sugar and fat content, as well as gluten-free and vegan options. Additionally, with the rise of e-commerce, there has been a shift towards online purchasing of confectionery products, driven by the convenience and safety of contactless transactions. This trend is expected to continue, especially among younger consumers who are more digitally savvy.

Trends in the market: In Armenia, the Confectionery & Snacks Market within The Food market is experiencing a shift towards healthier and more natural ingredients, with a focus on traditional flavors and locally sourced products. This trend is driven by increasing consumer demand for healthier options and a desire for authentic, artisanal products. As a result, industry stakeholders are investing in research and development to cater to this demand and differentiate themselves in a competitive market. This trend is expected to continue, with potential implications for the industry such as increased competition and a growing market for niche and premium products.

Local special circumstances: In Armenia, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's rich cultural heritage and traditional recipes. The use of local ingredients such as honey, nuts, and dried fruits in confectionery products sets it apart from other markets. Additionally, strict regulations on food safety and labeling have led to a high level of consumer trust in the market. The country's mountainous geography also plays a role in the limited availability of certain ingredients, leading to a focus on using local resources and production methods.

Underlying macroeconomic factors: The performance of the Confectionery Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and economic stability. In countries with strong economic growth and rising disposable incomes, there is an increased demand for confectionery products, as consumers have more purchasing power. However, in regions with economic challenges and lower disposable incomes, the demand for confectionery products may be limited. Additionally, government policies and regulations, such as import/export restrictions and taxation, can also impact market performance. Overall, the Confectionery Market is closely tied to the overall economic health of a country, making it susceptible to changes in global and national economic trends.

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.