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.
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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
Most recent update: Nov 2024
Source: Statista Market Insights
Most recent update: Sep 2024
Source: Statista Market Insights
The Confectionery market in NAFTA has seen modest growth, influenced by factors such as shifting consumer preferences towards healthier options, increasing competition from alternative snacks, and fluctuating ingredient costs. Sub-markets, such as Chocolate Confectionery and Sugar Confectionery, may also face challenges due to changing consumer tastes and concerns about ingredients. Despite these hurdles, industry players are adapting to new market conditions and investing in innovative products to drive growth.
Customer preferences: Consumers in the Confectionery Market of the Confectionery & Snacks Market within The Food market are increasingly looking for healthier options, leading to a rise in demand for low-sugar and organic confectionery products. This trend is driven by a growing awareness of the negative impact of excessive sugar consumption on overall health and well-being. Moreover, the shift towards healthier snacking options is also influenced by the rise of health-conscious millennials and Gen Z consumers who prioritize clean, natural ingredients in their food choices.
Trends in the market: In NAFTA, the Confectionery Market within the Confectionery & Snacks Market of The Food market is seeing a shift towards healthier and more sustainable options. Consumers are increasingly demanding all-natural and organic ingredients, as well as products that are free from artificial preservatives and additives. This trend is driven by a growing awareness of the negative health effects of processed foods and the environmental impact of traditional production methods. As a result, industry stakeholders are investing in research and development to meet these changing consumer preferences and maintain their competitive edge. This trend is expected to continue in the coming years, presenting opportunities for innovative companies to tap into this growing market.
Local special circumstances: In the Confectionery Market of the Confectionery & Snacks Market within The Food market, local factors such as taste preferences, cultural traditions, and regulations play a significant role in shaping market dynamics. In Mexico, for example, the tradition of indulging in sweet treats during holidays and celebrations drives the demand for confectionery products. In Canada, strict regulations on food labeling and ingredients influence consumer purchasing decisions, leading to a growing demand for healthier and more natural options in the confectionery market.
Underlying macroeconomic factors: The Confectionery Market of the Confectionery & Snacks Market within The Food market is heavily influenced by macroeconomic factors such as consumer spending, disposable income, and economic growth. Regions with stable economic conditions and rising disposable income are experiencing higher demand for confectionery products, while regions with economic uncertainties and declining disposable income are facing lower demand. Moreover, government policies, trade agreements, and currency fluctuations can also impact the market, as they affect the cost of raw materials, production, and distribution, ultimately affecting the prices and availability of confectionery products. Additionally, changing consumer preferences and dietary trends, such as the growing demand for healthier snacks, are also shaping the market landscape.
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights