Understanding Sugar and Confectionery Products Market Dynamics: Industry Drivers

Overview and Scope
Sugar is a sweet, crystalline substance obtained from sugarcane and sugar beet which is used as a sweetener in food and drinks.  Confectionery products are foods that mainly consist of sugar or similar sweeteners.

Sizing and Forecast
The sugar and confectionery products market size has grown strongly in recent years. It will grow from $353.62 billion in 2023 to $371.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.1%.  The  growth in the historic period can be attributed to consumer sweet tooth, industrialization and mass production, global sugar production, marketing and branding, seasonal and gifting tradition.

The sugar and confectionery products market size is expected to see steady growth in the next few years. It will grow to $440.72 billion in 2028 at a compound annual growth rate (CAGR) of 4.3%.  The growth in the forecast period can be attributed to health-conscious consumer preferences, clean label and natural ingredients, sustainability and ethical sourcing, digital marketing and e-commerce. Major trends in the forecast period include healthier indulgence, plant-based confectionery, artisan and craft confectionery, gourmet and premium chocolate, personalized and customized sweets.

To access more details regarding this report, visit the link:
https://www.thebusinessresearchcompany.com/report/sugar-and-confectionery-products-global-market-report

Segmentation & Regional Insights
The sugar and confectionery products market covered in this report is segmented –

1) By Type: Sugar, Confectionery Product
2) By Price Point: Economy, Mid-Range, Luxury
3) By Distribution Channel: Supermarkets/Hypermarkets, Convenience Stores, E-Commerce, Other Distribution Channels

Subsegments Covered: , Chocolate Confectionery, Sugar Confectionery, Gum Confectionery

Asia-Pacific was the largest region in the sugar and confectionery products market in 2023. Western Europe was the second-largest region in the sugar and confectionery products market. The regions covered in the sugar and confectionery products market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Intrigued to explore the contents? Secure your hands-on sample copy of the report:
https://www.thebusinessresearchcompany.com/sample.aspx?id=3560&type=smp

Major Driver Impacting Market Growth
The sugar and confectionery products manufacturing market’s growth is aided by stable economic growth forecasted in many developed and developing countries. According to the International Monetary Fund (IMF), global GDP growth reached 3.3% in 2020 and 3.4% in 2021, both according to the IMF. Recovering commodity prices, after a significant decline in the historical period, are further expected to aid the market’s growth. Developed economies are also expected to register stable growth during the forecast period. Additionally, emerging markets are expected to continue to grow slightly faster than developed markets in the forecast period. Stable economic growth is expected to increase investments in the end-user markets, thereby driving the market during the forecast period.

Key Industry Players
Major companies operating in the sugar and confectionery products market include  Mondelez International Inc., Barry Callebaut AG, The Hershey Company, Nestle S.A., Wilmar International Ltd., Grupo Bimbo S.A.B. de C.V., Chocoladefabriken Lindt & Spruengli AG, Louis Dreyfus Company, CJ Corp, Yamazaki Baking Co. Ltd., Mars Wrigley Confectionery div. of Mars Inc., Ferrero International S.A., Pladis Group, Perfetti Van Melle B V, Haribo GmbH & Co. K.G., Ezaki Glico Co. Ltd., General Mills Inc., Grupo Arcor, Albanese Confectionery Group Inc., Jelly Belly Candy Company, The Topps Company Inc., Alfred Ritter GmbH & Co. KG, Trolli GmbH, The Kraft Heinz Company, The Ferrara Candy Company, The Warrell Corporation, The Promotion In Motion Companies Inc., Crown Confectionery Co. Ltd., Morinaga & Co. Ltd., Roshen Confectionery Corp., Cloetta AB, Yildiz Holding AS, Lotte Confectionery Co. Ltd., Orion Corp., American Licorice Co., Georgia Nut Co., Nellson LLC.

The sugar and confectionery products market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
.
.
.
27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

Related Reports:

https://goodprnews.com/graphite-market-dynamics-research/
https://goodprnews.com/herbicides-market-share/
https://goodprnews.com/exploring-the-hypolipidemics-industry-trends-and-opportunities/
https://topprnews.com/graphite-market-overview/
https://topprnews.com/herbicides-market-insights/
https://topprnews.com/hypolipidemics-market-research/

Explore the trending research reports from TBRC:

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model