Global confectionery market trends

Ever wondered what the confectionery market is doing throughout the world these days? Well a USA company called Persistence Market Research can certainly tell you more in their latest report about the global confectionery market that is available to buy. Meanwhile, here’s a thought provoking summary.

Europe continues to dominate the global confectionery market, followed by North America and Asia Pacific. In terms of size, the USA, not surprisingly, leads the way with the largest confectionery market globally, followed by China and the UK.

India in the Asia Pacific is the fastest growing confectionery market in the world. Furthermore, the growth rate is expected to rise.

So what factors determine the growth of confectionery consumption in a country? In broad terms it comes down to rising disposable income, a growing retail market, an expanding population, increasing urbanization (urban dwellers consume more confectionery than rural dwellers), hectic lifestyle characteristics and more women in the workforce. So overall, as an economy develops, so will the consumption of confectionery in that country.

The increased number of women working has a positive impact on the level of disposable income and so in turn, increases the amount of confectionery purchased for the family. A hectic lifestyle meanwhile (and many of us can appreciate this point) leads to a greater likelihood of consuming confectionery, either as a snack or as a treat when you feel you deserve it.

So what does the future of the global confectionery market look like? The number of working women in the USA is expected to increase 5.4% by 2022 whilst India’s number of urban dwellers will reach 404 million by 2050 – for China, this figure is 292 million. The signs are that the global confectionery market will remain buoyant for some time to come.

But take note of the potential restraints on the market. Rising health issues continue to be a leading factor and has so far resulted in the growth of the sugar free confectionery market. Government regulations could yet have a significant impact on the confectionery market and of course the global confectionery market is extremely vulnerable to key raw material costs, most notably sugar and cacao.

Want to learn more about the global confectionery market? Go to Persistence Market Research to read more about the report that is available.

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