Global Chocolate, Confectionery and Desserts Market - Overview, Consumer Behavior and Market Trends

Summary

This report outlines the market trends and consumer behavior impacting the chocolate, confectionery, and desserts 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.

The global chocolate, confectionery, and desserts sector will see an upward volume and value trajectory from 2020-23, with value increasing at a faster rate than volume when compared to baseline industry predictions. This is the result of negative monetary influences such as loss of jobs and income that have impacted consumers' shopping behavior as there is a shift to online shopping and decrease in the frequency of in-store trips.

Scope

• All categories in the chocolate, confectionery, and desserts 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.
• Gum accounts for the lowest sales, as it often relies on impulse-buying. The decline in store visits and increase in online shopping could therefore explain the gum category's slow growth.
• Chocolate, confectionery, and desserts show innovation in at-home snacking, which is expected to lead to growth in all categories.

Reasons to Buy

• Understand the relevant market and consumer trends that are driving the chocolate, confectionery, and desserts sector.
• Gain a broader understanding of the impact of COVID-19 on the chocolate, confectionery, and desserts 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.