Key regions: Spain, Canada, Japan, South Korea, Russia
The Confectionery Market in Canada's Food Market is currently experiencing negligible growth due to various factors such as increasing health awareness, changing consumer preferences, and the convenience of online shopping. Despite the sub-markets of Chocolate Confectionery, Sugar Confectionery, Ice Cream, and Preserved Pastry Goods & Cakes, the overall market is struggling to grow due to the shift towards healthier snacking options and competition from alternative indulgent treats.
Customer preferences: Consumers in Canada are increasingly gravitating towards healthier and more natural options in the Confectionery Market. This trend is driven by a growing awareness of the health risks associated with excessive sugar and artificial ingredients. As a result, there has been a rise in demand for organic, gluten-free, and non-GMO snacks and confectionery products. Additionally, there is a growing preference for locally sourced and sustainably produced treats, reflecting a greater emphasis on ethical and environmentally friendly consumption habits.
Trends in the market: In Canada, the Confectionery Market of the Confectionery & Snacks Market within The Food market is experiencing a shift towards healthier options. Consumers are becoming more health conscious and are seeking out products with natural ingredients, reduced sugar, and no artificial additives. This trend is expected to continue as the demand for healthier snacks and treats increases. Additionally, there is a growing interest in plant-based and vegan confectionery products, as well as a rise in demand for premium and indulgent options. These trends are significant for industry stakeholders as they must adapt to meet changing consumer preferences and develop innovative products to stay competitive in the market. Furthermore, this trend towards healthier options has potential implications for the marketing and advertising strategies of confectionery brands, as well as for the ingredients and sourcing practices of manufacturers.
Local special circumstances: In Canada, the Confectionery market is heavily influenced by the country's diverse and multi-cultural population. This has led to a wide variety of unique flavors and products being introduced, catering to different cultural tastes. Additionally, the country's strict food regulations have resulted in a high standard of quality for confectionery products, making them highly trusted by consumers. Furthermore, Canada's cold climate has resulted in a strong demand for comfort foods, driving the sales of confectionery products during the winter months.
Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is greatly impacted by macroeconomic factors in Canada. The country's stable economic growth, favorable business environment, and high consumer spending contribute to the overall growth of the market. Additionally, Canada's strong investment in the food and beverage industry, coupled with regulatory support for food safety and quality, further drives the market's performance. Moreover, the increasing demand for indulgent treats and convenience foods, driven by the busy and on-the-go lifestyle of Canadians, also plays a significant role in the growth of the Confectionery Market.
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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