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SIAL Shenzhen 2024|Future Segmentation Trend of Confectionery Market

2024.03.28

Market Segmentation by Product

SIAL Shenzhen 2024 blieves that the increasing urbanization will fuel the chocolate segment which in turn increases the market growth. The global chocolate market is mature, and to keep up with changing consumer preferences, companies are introducing new products with unusual flavors like hibiscus, lavender, ginger, and alcohol. In addition, premium-positioned organic chocolates are becoming increasingly popular. In addition, reduced sugar chocolate variants, such as dark chocolate, have seen a significant increase in demand as consumers become more aware of the health benefits. Moreover, the growth in the segment is expected to be driven by the growth in demand for organic, vegan, sugar-free, and gluten-free chocolates. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Market Segmentation by Distribution Channel

The offline segment is estimated to witness significant growth during the forecast period. The different types of offline channels are hypermarkets, supermarkets, and grocery and convenience stores. In addition, organized retailing, which includes hypermarkets and supermarkets as two of the major offline distribution channels of confectionery, eases the purchasing process for consumers. Furthermore, it enables them to choose from a diverse range of confectionery.

Moreover, Tesco Plc (Tesco), Carrefour Group, and Target Brands Corp. (Target) are some of the major hypermarkets and supermarkets that offer various brands of confectionery. In addition, one of the major factors expected to drive the growth of the segment is the expansion of hypermarkets and supermarkets worldwide. For instance, in 2022, Tesco, one of the leading supermarkets based in the UK, opened 650-750 convenience stores in Thailand. Furthermore, as these retailers have a global presence, they help improve the visibility of vendor products and increase the demand for such products. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.

Key Regions for the Market

The UK, Germany, France, Italy, Switzerland, the Netherlands, and Spain are some of the prominent markets in the region. In addition, major confectionery manufacturers in Europe have undertaken strategic collaborations to achieve novel technological innovations and acquire a prominent position in the marketplace. For example, in 2018, Ferrero International S.A., an Italy-based manufacturer of branded chocolate and confectionery, announced that it had acquired Nestle SA confectionery business in the US, which includes more than 20 brands of confectionery products. Moreover, the purpose of this acquisition is to expand the geographical reach of Ferrero's premium confectioneries. In addition, the increased penetration of small family-run bakeries and restaurants has significantly contributed to the increased consumption of confectionery items in the region. Hence, such factors are driving the market growth in Europe during the forecast period.

Company Overview

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market forecasting growth and analysis.

The market analysis and report of qualitative and quantitative analysis of companies has been conducted by SIAL Shenzhen 2024 to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.

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