Confectionery - Zimbabwe | Statista Market Forecast

Revenue in the Confectionery market amounts to US$374.60m in 2024. The market is expected to grow annually by 5.48% (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$22.01 are generated in 2024.
In the Confectionery market, volume is expected to amount to 101.30m kg by 2029. The Confectionery market is expected to show a volume growth of 1.9% in 2025.0.
The average volume per person in the Confectionery market is expected to amount to 5.2kg 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.

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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 Zimbabwe is experiencing limited growth due to various factors. These include high import costs for ingredients, limited consumer purchasing power, and a preference for homemade sweets. However, with the rise of e-commerce and increasing health consciousness among consumers, there is potential for growth in the digitalization of the market. The sub-markets of Chocolate Confectionery, Sugar Confectionery, Ice Cream, and Preserved Pastry Goods & Cakes should also consider these factors in their strategies to tap into this growing trend.

Customer preferences: The Confectionery Market in Zimbabwe has seen a rise in demand for healthier and more unique options, as consumers are becoming more health-conscious and looking for alternative snacks. This trend is influenced by the growing health and wellness movement, as well as the increasing availability of organic and natural products. In addition, there is a growing preference for locally produced confectionery, as consumers prioritize supporting local businesses and promoting sustainability. This has led to an increase in the consumption of traditional snacks made from local ingredients, such as dried fruits and nuts.

Trends in the market: In Zimbabwe, the Confectionery market is seeing a rise in health-conscious consumers, driving demand for healthier snack options. In addition, there is a growing trend of premiumization, with consumers willing to pay more for high-quality, indulgent treats. This trend is expected to continue, as the country's economy stabilizes and disposable income increases. As a result, there is potential for growth in the premium and health-focused segments of the market. Additionally, with the rise of e-commerce and online shopping in the country, there is an opportunity for confectionery companies to tap into this channel and reach a wider audience.

Local special circumstances: In Zimbabwe, the Confectionery market is heavily influenced by the country's economic and political factors. The ongoing currency crisis has led to increased prices of raw materials, making it challenging for small businesses to compete. Additionally, the country's strict regulatory environment and import restrictions have limited the availability of foreign brands, giving local manufacturers an advantage. These unique factors have contributed to a highly competitive and rapidly evolving market in Zimbabwe, with local players dominating the Confectionery & Snacks Market within The Food market.

Underlying macroeconomic factors: The Confectionery Market in Zimbabwe is heavily influenced by macroeconomic factors such as consumer spending power, inflation rates, and currency stability. With the country's economic recovery in recent years, there has been an increase in consumer spending on indulgent products like confectionery. However, high inflation rates and currency devaluation have resulted in rising production costs, which may impact market growth. Additionally, government policies on import tariffs and taxes also play a significant role in shaping the market landscape. Overall, the performance of the Confectionery Market in Zimbabwe is closely tied to the country's economic health and stability.

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.