Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 206.53 Billion | USD 261.7 Billion | 3.9% | 2022 |
FrequentlyAsked Questions
Confectionery is all those food items that have high sugar and carbohydrate content. They usually include jellies, fudge, candies, toffies, hard candy, pastilles, etc. Chocolate confectionery is widely popular in various countries across the globe as more and more children and increasingly inflicted towards it as they are sweeter and also because cocoa or chocolate is a crucial part of these confectioneries.
Rise in demand for organic chocolate is primarily boosting the growth of the market. Healthier snacking, coupled with simplicity and flavor, is a growing trend among buyers, and firms are responding with a big plan to cater to the increasing demand for healthier snacks. As a result, confectionery businesses are developing packaging that allows consumers to eat tiny quantities and save the remainder for later.
According to the Zion Market Research report, the global confectionery market was worth about USD 206.53 billion in 2022 and is estimated to grow to about USD 261.7 billion by 2030.
The global confectionery market is expected to grow rapidly with a CAGR of 3.9% from 2023-2030.
Europe accounted for the largest portion of the global confectionery market, with over 35 percent of the share. Due to their expanded taste preferences and permissive eating habits, people are increasingly seeking quality and premium chocolates over sugar confectionery goods.
Major players functioning in the global confectionery market include Nestlé S.A., Mars Inc., Ferrero Group, Mondelez International, Inc., Grupo Arcor, Perfetti Van Melle, Cadbury, Petra Foods, United Confectionery Manufacturers, Meiji Co., Ltd., Chocoladefabriken Lindt & Sprüngli AG, The Hershey Company, Ezaki Glico Co., Ltd., Pladis, and Haribo GmbH & Co. K.G.
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