Key regions: Philippines, South Korea, Canada, Japan, China
The Confectionery & Snacks market within The Food market in Ireland has seen limited growth, influenced by factors such as consumer preferences for healthier snacks, increasing competition, and fluctuations in raw material prices. Despite this, the market continues to thrive due to the convenience and indulgence offered by these products.
Customer preferences: The Irish Confectionery & Snacks Market is experiencing a shift towards healthier snacking options, driven by a growing awareness of the importance of nutrition and wellness. This trend has led to an increase in demand for organic and natural snacks, as well as a focus on ingredients and sourcing. Additionally, there is a rise in demand for vegan and plant-based snacks, catering to the increasing number of consumers adopting a flexitarian or vegetarian diet. This shift towards healthier and more sustainable options is influenced by cultural values and evolving lifestyle factors.
Trends in the market: In Ireland, the Confectionery & Snacks Market within The Food market is seeing a rise in demand for healthier and more sustainable options. This trend is driven by increasing consumer awareness and concerns about the impact of traditional sugary and processed snacks on health and the environment. To cater to this trend, companies are launching new products with natural and organic ingredients, as well as offering more sustainable packaging options. This trend is expected to continue as consumers prioritize health and sustainability in their purchasing decisions.
Local special circumstances: In Ireland, the Confectionery & Snacks market is heavily influenced by the country's rich cultural heritage and love for traditional sweets and snacks. This has led to a strong demand for locally produced products, with a focus on high-quality and natural ingredients. Additionally, Ireland's strict regulations on food labeling and advertising have shaped consumer preferences towards healthier options, driving the growth of the health and wellness segment in the market.
Underlying macroeconomic factors: The Confectionery & Snacks Market within The Food market in Ireland is greatly impacted by macroeconomic factors such as consumer spending patterns, economic growth, and government policies. With a growing economy and an increasing disposable income, consumers are more likely to purchase indulgent treats, creating a higher demand for confectionery and snacks. Additionally, favorable government policies and investments in the food industry have further propelled the growth of the market. However, fluctuating commodity prices and changing consumer preferences pose challenges to market growth.
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.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 9am - 5pm (SGT)
Mon - Fri, 10:00am - 6:00pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
