Market Definition:
Non-cocoa confectionery consists of sweets and other goodies which have found traction due to the expensive nature of cocoa. Changing preferences of consumers portend the dynamic tastes and shift towards healthy choices. The global non-cocoa confectionery market report by Market Research Future (MRFR) covers the various types of candies, manufacturing process, consumption patterns, and supply chain analysis for end-users to consider for investment.
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Market Outlook:
The global non-cocoa confectionery market is expected to accumulate massive demand from 2017 to 2022 (forecast period) thanks to growing preference of non-cocoa gummies, candies, and other confectionery. High demand for sugary snacks and high-protein snacks can create plenty of opportunities for the market. The increased purchasing power of consumers in the teen demographic can boost revenue of the market substantially till 2022.
Rising health-consciousness among consumers coupled with reduction of sugar in dietary consumption for weight control can push the demand for non-cocoa confectionery. Collaboration between confectionery manufacturers for meeting consumer goals of a balanced diet is likely to bode well. Furthermore, reformulation of products for offering cocoa-free products as well as serving candies with a calorific value below 200 can appeal to consumers. Effective packaging strategies with astute labels outlining the list of ingredients as well as amount of sugar can augur well for the non-cocoa confectionery market.
Partnerships with domestic or regional stores is a strategy being pursued by non-cocoa sweet makers. This is evident with the establishment of hypermarkets and superstores in major cities and towns. Rising sales of non-confectionery goods coupled with preference of Western goods in Asia Pacific can bode well for the market.
Competitive Landscape:
Key players in the Non-Cocoa Confectionery Market include Ezaki Glico, MARS Inc., Ferrero SpA, DS Group, Morinaga & Co. Ltd., The Hershey Company, Cloetta AB, ITC Limited, Mondelez International, Inc., Nestle India Limited, Arcor Group, Orion Confectionery Co. Ltd., Lotte Sugar Confectionery Co. Ltd, Lindt & Sprüngli, and others.
Industry News:
Nestlé has transferred the rights for its Szerencsi brand of chocolates to Szerencsi Bonbon, a Hungary owned company. The particular offering consists of non-cocoa confectionery.
Segmentation Analysis:
The global non-cocoa confectionery market is segmented on the basis of type and form.
By type, it is segmented into gum confectionery, sugar confectionery, and others. The sugar confectionery segment is expected to remain dominant throughout the forecast period due to its popularity and launch of new flavors annually. On the other hand, the gum confectionery segment can enjoy a positive growth rate during the forecast period due to preference of gum by older and younger demographics.
By form, it is segmented into candy bars, lollipops, gummy candies, candies, and others.
Region Analysis:
Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW) are major regions taken into consideration during the compilation of the non-cocoa confectionery market.
Europe is expected to be one of the most lucrative regions for the non-cocoa confectionery market due to presence of major chocolatiers in Switzerland, Belgium, Germany, and the Netherlands. Local delicacies and flavors combined with constant export of chocolates can create an opportunity for the market. Preference of non-cocoa products in countries of APAC can be bountiful for the global market.
North America is a major producer of non-cocoa confectionery due to high consumption patterns witnessed in Mexico and the U.S. Popularity of sugar gum and candies is the primary driver of the regional market.
The APAC region contribute revenue at a dull rate owing to deference of sweets in China. Preference of luxury sweets and rich taste of chocolate can have a negative impact on the global market revenue. But regions of India, Thailand, Vietnam, and Australia which are open to trying confectionery of novel flavors and fragrances can boost regional market revenue.
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