Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks Market within The Food market in EU-27 is facing a slow growth rate due to factors such as changing consumer preferences, increasing health consciousness, and the availability of healthier snack options. Despite the negligible growth, the market is still driven by the convenience and indulgence offered by these products. Furthermore, technological advancements and the rising trend of e-commerce are also playing a role in shaping the market's growth.
Customer preferences: Consumers in the EU-27 are increasingly opting for healthier and more sustainable snacking options, leading to a rise in demand for plant-based and organic snacks. This trend is driven by a growing awareness of the environmental impact of traditional snacking and a desire for cleaner, more natural ingredients. Additionally, the rise of flexitarian and vegan diets is also fueling the demand for plant-based snacks, as consumers seek to reduce their consumption of animal products. This shift towards healthier and more conscious snacking choices is expected to continue in the coming years, as consumers prioritize their health and the environment.
Trends in the market: In the EU-27, the Confectionery & Snacks Market is seeing a shift towards healthier snacking options, such as plant-based and organic products. This trend is driven by increasing consumer awareness of the health benefits of these products, as well as concerns over sustainability and animal welfare. As a result, we can expect to see more product innovation and marketing efforts focused on these segments. This could also lead to potential partnerships and collaborations between traditional confectionery and snack companies and health food brands. Furthermore, with the rise of e-commerce and online grocery shopping, there is an opportunity for companies to capitalize on the growing demand for healthier snack options in the EU-27 market.
Local special circumstances: In Germany, the Confectionery & Snacks Market within The Food market is heavily influenced by the country's strong economy and high disposable income. This has led to a preference for premium and organic products among consumers. Additionally, the country's strict food regulations and labeling requirements ensure food safety, which has boosted consumer trust and confidence in the market. The popularity of traditional German snacks, such as pretzels and chocolate, also contribute to the market's success.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in the EU-27 is impacted by macroeconomic factors such as consumer spending power, trade policies, and economic stability. The demand for confectionery and snacks is heavily influenced by changes in consumer preferences and behavior. For instance, the rising trend of health-consciousness and the demand for healthier snack options are driving the growth of the market. Moreover, favorable trade policies and increasing disposable income in emerging markets are expected to boost the growth of the market. However, economic uncertainties and trade disputes between countries can adversely affect the market, leading to fluctuations in demand and supply.
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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