Updated Dec 10, 2022 18:58

Global Confectionery Market

Market Overview
The global confectionery market expanded to $ in , increasing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level at $ in 2019; however, from to , consumption failed to regain momentum.

In value terms, confectionery production rose to $ in estimated in export price. The total output value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2008 with an increase of % against the previous year. Global production peaked at $ in 2019; however, from to , production failed to regain momentum.

The countries with the highest volumes of production in were China ( tons), the United States ( tons) and India ( tons), together accounting for % of global production.

From 2007 to , the most notable rate of growth in terms of production, amongst the main producing countries, was attained by China (with a CAGR of +%), while production for the other global leaders experienced more modest paces of growth.


Consumption
Global confectionery consumption expanded modestly to tons in , picking up by % against figures. The total consumption volume increased at an average annual rate of +% from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2018 with an increase of %. Over the period under review, global consumption hit record highs at tons in 2019; however, from to , consumption stood at a somewhat lower figure.

The global confectionery market value stood at $ in , growing by % against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +% over the period from 2007 to ; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in and is expected to retain growth in years to come.


Consumption by Country
The countries with the highest volumes of consumption in were China ( tons), the United States ( tons) and India ( tons), with a combined % share of global consumption.

From 2007 to , the biggest increases were recorded for China (with a CAGR of +%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest confectionery markets worldwide were China ($), the United States ($) and Japan ($), together comprising % of the global market.

In terms of the main consuming countries, China, with a CAGR of +%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In No countries confectionery per capita consumption remained relatively stable over the period from 2007-.


Consumption by Type
Chocolate and confectionery ( tons) constituted the product with the largest volume of consumption, comprising approx. % of total volume. Moreover, chocolate and confectionery exceeded the figures recorded for the second-largest type, candies, sweets, and nonchocolate confectionery ( tons), twofold.

From 2007 to , the average annual rate of growth in terms of the volume of chocolate and confectionery consumptions stood at +%.

In value terms, chocolate and confectionery ($) led the market, alone. The second position in the ranking was held by candies, sweets, and nonchocolate confectionery ($).

From 2007 to , the average annual growth rate of the value of chocolate and confectionery markets totaled +%.


Market Forecast
Driven by increasing demand for confectionery worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +% for the period from to , which is projected to bring the market volume to tons by the end of .

In value terms, the market is forecast to increase with an anticipated CAGR of +% for the period from to , which is projected to bring the market value to $ (in nominal prices) by the end of .