Confectionery - Sector Landscapes

Confectionery - Sector Landscapes

Published: November 2020
Publisher: GlobalData
Product ref: 319306
Pages: 32
Format: PDF
Delivery: Immediate download

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Summary

Overall, the confectionery sector will see an increase in value and volume over 2019-23. However, this growth trajectory will differ from forecasts in 2019 (i.e. before the COVID-19 outbreak).

The volume growth for the sector is forecast to be slower than anticipated, which is mainly due to people who are concerned about the economy having tighter budgets. As a result, consumers are expected to purchase fewer indulgent goods such as confectionery long-term.

Despite consumer budgets being altered and the volume rate slowdown, COVID-19 shows a limited impact on the confectionery sector's value growth, as brands continue to launch premiumization strategies to differentiate their products from competitors' in the face of the pandemic.

This report outlines the market trends and consumer behavior impacting the confectionery market and what implications these may have on the industry's future. It further explores the evolution of the market amid COVID-19, company performance and news, as well as inspiring product innovation.

Scope

• All categories in the confectionery sector show a level of premiumization, as value growth outpaces volume growth. This reflects the rise of competition within the sector, as confectionery brands, especially in sugar confectionery and chocolate, diversify their ranges to ensure segment growth.
• However, there is an expected decline in volume for gum, which often relies on impulse buying. The decline in store visits and increase in online shopping could therefore explain the gum category's decline.
• Sugar confectionery and chocolate show innovation in at-home snacking, which is expected to lead to growth in both categories.

Reasons to Buy

• Understand the relevant market and consumer trends that are driving the savory snacks sector.
• Gain a broader understanding of the impact of COVID-19 on the savory snacks sector and its impact on consumer spending and preferences.
• Access valuable strategic take-outs in the form of specific opportunities to enhance future decision-making and inform new product development.

Price: $1450.00

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