Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks market in EMEA is experiencing minimal growth due to factors such as changing consumer preferences, increasing health concerns, and competition from healthier snack options. However, the market is still driven by convenience and indulgence, and the rise of e-commerce is expected to further boost growth in the future.
Customer preferences: Consumers in the EMEA region have shown a growing interest in healthier snack options, leading to a rise in demand for plant-based and functional snacks. This trend is driven by a desire for more nutritious and sustainable choices, as well as a shift towards plant-based diets. Additionally, there has been an increase in demand for snacks that cater to specific dietary needs such as gluten-free, dairy-free, and vegan options. This shift in consumer preference is also influenced by cultural norms and evolving lifestyles, where health and wellness are increasingly prioritized.
Trends in the market: In EMEA, the Confectionery & Snacks Market within The Food market is seeing a shift towards healthier options, with a rise in demand for plant-based, organic, and gluten-free snacks. This trend is driven by increasing health consciousness among consumers and a growing preference for clean label products. In addition, there is a rise in demand for sustainable packaging solutions and a focus on reducing sugar and salt content. These trends are significant for industry stakeholders as they need to adapt their product offerings and marketing strategies to cater to these changing consumer preferences. This could also lead to potential implications such as increased competition and the need for investment in research and development to meet these evolving trends.
Local special circumstances: In EMEA, the Confectionery & Snacks Market within The Food market is influenced by unique local factors. In Europe, the market is driven by the popularity of healthy and organic snack options, while in the Middle East, the market is dominated by traditional and indulgent snacks. In Africa, the market is heavily influenced by cultural preferences and affordability, with a rise in demand for affordable and locally-sourced snacks. These factors shape the market dynamics in EMEA, creating a diverse and competitive landscape for the Confectionery & Snacks Market within The Food market.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market is greatly impacted by macroeconomic factors in EMEA. Global economic trends, such as changing consumer preferences and shifting demographics, are influencing the market. Additionally, national economic health, fiscal policies, and financial indicators are key determinants of market performance. For instance, countries with strong economies and stable fiscal policies are experiencing higher growth rates in the Confectionery & Snacks Market compared to those with weaker economies and volatile fiscal policies. Moreover, increasing disposable income and changing lifestyles in the region are also driving the demand for convenience and indulgence foods, further boosting the Confectionery & Snacks 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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