Key regions: Spain, Canada, Japan, South Korea, Russia
The confectionery market in Georgia is facing subdued growth, influenced by factors such as increasing health consciousness, consumer preferences for healthier snacks, and the convenience of online shopping. Despite this, the market continues to experience growth, driven by the sub-markets of chocolate, sugar, ice cream, and preserved pastry goods & cakes. With the rising demand for healthier options, the market is expected to see a shift towards healthier and more innovative products in the coming years, driving further growth.
Customer preferences: The Confectionery Market in Georgia is seeing a rise in demand for healthier and more diverse options, as consumers become more health-conscious. This trend is driven by the increasing popularity of plant-based and organic products, as well as a growing interest in global flavors and ingredients. Additionally, there is a shift towards smaller portion sizes and individually packaged snacks, catering to on-the-go and convenience-focused lifestyles.
Trends in the market: In Georgia, the Confectionery Market of the Confectionery & Snacks Market within The Food market is experiencing a shift towards healthier options, with an increased demand for organic and natural ingredients. This trend is driven by consumer preferences for transparency and sustainability, as well as a growing awareness of health and wellness. As a result, companies are incorporating these trends into their product offerings and marketing strategies. This has significant implications for industry stakeholders, as they must adapt to changing consumer preferences and stay competitive in the market. Furthermore, this trend is expected to continue, as consumers become more health-conscious and seek out better-for-you options in the confectionery market.
Local special circumstances: In Georgia, the Confectionery market is heavily influenced by the country's rich cultural heritage of sweet treats and desserts. The market is also shaped by the country's geographical location, with its proximity to major cocoa producers like Ghana and Ivory Coast. Additionally, the regulatory environment in Georgia favors small, locally-owned confectionery businesses, leading to a vibrant and diverse market with a wide range of traditional and innovative products. These unique factors contribute to the dynamic and competitive nature of the Confectionery market in Georgia.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Georgia is greatly influenced by macroeconomic factors such as consumer spending, economic stability, and government policies. The country's stable economic growth and rising disposable income have led to an increase in consumer spending on indulgent food products, including confectionery. Moreover, the government's efforts to promote tourism and attract foreign investment have also positively impacted the market. However, the recent economic slowdown and fluctuations in exchange rates have hindered market growth. Additionally, changing consumer preferences towards healthier snacking options and the implementation of sugar taxes have also affected the performance of the Confectionery Market in Georgia.
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)
