Confectionery Market - Forecast(2023 - 2028)

Confectionery Market size is estimated at $217 billion in 2020, projected to grow at a CAGR of 3.8% during the forecast period 2021-2026. Confectionery are the products used in making items like hard candies, chocolates, cookies, and chewing gum. Cocoa powder, dairy ingredients, emulsifiers, stabilizers and thickeners (EST), malts, oils & shortenings, sweeteners, starch & derivatives, and flavors are among the most popular confectionery ingredients. Confectionery industry has witnessed huge demand owing to the increasing demand for ready-to-eat food in the market. Moreover, in order to improve the texture, mouthfeel and stability of the product hydrocolloids are used as the gelling agent, thickening agent and stabilizers in confectionery. Increased demand for sugar-free products as a result of rising consumer health consciousness has compelled confectionery manufacturers to research and develop new confectionery products, which has aided the confectionery industry's development. Furthermore, the increasing preference for natural ingredients among confectionery manufacturers has provided an advantageous demand for confectionery suppliers thereby driving the Confectionery Industry.

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Confectionery Market Report Coverage

The report: “Confectionery Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Confectionery Market.

By Ingredient Type: Cocoa powder & Chocolate, Hydrocolloids, Dairy Ingredients, Malts, Emulsifiers, Sweeteners, Starches & Derivatives, Flavors, Oils & Shortenings and Others.


By Source: Natural and Synthetic.


By Form: Dry and Liquid.


By Application: Sugar Confectionery, Chocolate, Gum and Others.


By Geography: North America (U.S, Canada and Mexico), Europe (Germany, UK, France, Italy, Spain, Russia and Rest of Europe), Asia Pacific (China, Japan India, South Korea, Australia & New Zealand, and Rest of Asia Pacific), South America (Brazil, Argentina and Rest of South America) and RoW (Middle East and Africa).

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Key Takeaways

  • Confectionery Market growth is being driven by an increase in demand for non-carbonated drinks owing to the increasing demand for gluten-free, clean, low-calorie, and low-carbon drinks.
  • Geographically, Europe Confectionery Market held the largest revenue share of 36% in 2020 owing to the growing customer preference for various applications in the region. The scope of the Confectionery Market for various regions will be provided in the final report.

  • The increasing demand for sugar free products, ready-to-eat products are driving the Confectionery Industry.

  • The demand for items such as bread, cake, and cookies is rising rapidly, and the confectionery market is expected to rise as a result.

  • However, regulations for the use of confectionery products in order to maintain international quality standards, volatile cocoa costs, and uncertainty about use due to health concerns are all holding the industry back.



The Growing Demand for Sugar Free Products:

The global confectionery market is expected to be driven be the rising demand for sugar free products such as obese and diabetic cakes, the industrialisation, increased purchasing power per capita and the use of color naturally derived from specific color emulsion technology. Moreover, the growth of the world's cakes market will be fuelled by increased health awareness, evolving eating habits, lifestyle and innovation in products. Moreover, diabetic cases have also provided a huge chance for sugar-free products like dark chocolate & cookies. The U.S. Department of Health and Human Services reported that in 2018, in the United States 34.2 million people had diabetes. It was also found that the proportion of diabetes adults is increasing with age. Unlike 26.8% of the population aged 65 years or over, 21.4% of all US adults 18 years old or older suffered from diabetes. All these factors aids to the overall confectionery Industry growth. Also, owing to the complicated issues that the food supply chain faces, food retailers are requesting certificates from their suppliers, according to the Global Food Safety Initiative (GFSI).

Confectionery Market - Challenges

Fluctuating Cocoa Prices:

Fluctuations in the price of cocoa, as well as quality standards and norms for confectionery raw materials, are major market constraints. As people strive for a healthy lifestyle, the market for low-calorie foods is expected to rise. This pattern could stifle the market's expansion. For instance, honey's popularity as a primary component in confections among health-conscious consumers, owing to its natural sweetness, is impeding the market's growth.

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Confectionery Market - Landscape:

The Confectionery Market's main strategies include product launches, mergers and acquisitions, joint ventures, and regional expansion. Confectionery Market top 10 companies are Arla Foods, Cargill, Inc., Archer Daniels Midland Company, Olam International, Ingredion Inc., E.I. du Pont de Nemours and Co, Kerry Group plc, Barry Callebaut, Tate & Lyle plc and Koninklijke DSM N.V.

Acquisitions/Product Launches:

  • In November 2019, Olam International has acquired Dangote Flour Mills Plc, a pasta manufacturing company. This has aided in the growing demand for chemical-free and organic goods among consumers
  • In January2019, Barry Callebaut, one of the world’s leading manufacturer of the high quality cocoa products has acquired Inforum, one of the leading Russian B2B manufacturer of chocolate, fillings, compound coatings.

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