Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks Market in Europe is seeing limited growth, influenced by factors such as changing consumer preferences, health concerns, and competition from healthier alternatives. While digital technology is also playing a role, it is not a major driver in this particular market.
Customer preferences: In recent years, there has been a growing demand for healthier snack options in Europe, driven by changing consumer preferences. This has led to an increase in the availability of natural and organic snacks, as well as snacks with functional benefits such as protein or probiotics. Additionally, there is a rising interest in plant-based snacks and alternatives to traditional confectionery products, reflecting a shift towards more plant-based diets. These trends are influenced by a growing focus on health and sustainability among European consumers.
Trends in the market: In Europe, the Confectionery & Snacks Market within The Food market is experiencing a shift towards healthier options, with consumers becoming more health-conscious. This trend is driven by increasing concerns about obesity and chronic diseases, leading to a rise in demand for low-calorie, natural, and organic snacks. Additionally, there is a growing demand for snacks that cater to specific dietary needs, such as gluten-free, vegan, and keto-friendly options. These trends present opportunities for industry stakeholders to innovate and diversify their product offerings to cater to the evolving consumer preferences. Furthermore, this shift towards healthier snacks aligns with the overall trend of healthier eating habits, indicating a potential long-term impact on the Confectionery & Snacks Market in Europe.
Local special circumstances: In Europe, the Confectionery & Snacks Market within The Food market is greatly influenced by the region's cultural diversity, with each country having its own unique preferences and tastes. For example, in France, there is a strong demand for high-quality confectionery products due to the country's long-standing tradition of gourmet cuisine. In Germany, on the other hand, there is a growing trend towards healthier snack options, leading to a rise in demand for organic and plant-based snacks. Additionally, strict regulations on food labeling and ingredients in some European countries also play a significant role in shaping the market dynamics.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Europe is greatly impacted by macroeconomic factors such as consumer spending, economic growth, and trade policies. The overall health of the European economy and its stability play a significant role in the performance of the market. Changes in consumer purchasing power, influenced by factors such as inflation, exchange rates, and unemployment rates, can greatly affect the demand for confectionery and snack products. Additionally, trade policies and agreements between countries can impact the availability and cost of ingredients and raw materials, which can ultimately impact the pricing and profitability of products in the 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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