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South America Sugar Confectionery Market Outlook, 2027

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    Report

  • 66 Pages
  • September 2022
  • Bonafide Research
  • ID: 5483305
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The growth of the South American sugar confectionery market demand further drives the growth of Brazil's retail sugar confectionery market. Brazil has nearly 40% market share in the South American sugar confectionery market and is expected to remain in a dominant position over the forecast period as well. This growth can be attributed to the rising food and beverage industry and an increase in the middle income group in the region. The expanding retail industry in the region further aids market growth. The confectionery market has undergone a massive change owing to dynamic consumer demands, socio-economic changes, and cultural influences. Inclination towards sugar and sweetness is a never-ending reason for the growth of the sugar confectionery market in South America. However, rising health focus and an increase in chronic diseases hamper market growth. But the sugar-free segment overcomes this hurdle. Warning labels about sugar intake drive consumers to make informed choices. The government has restricted sales in schools of any product high in sugar, sodium, calories, or saturated fats, which acts as a restraint.

According to the research report, South America Sugar Confectionery Market Outlook, 2027 it is projected to grow at a steady CAGR of 6.84% over the forecast period ending in 2027. As sugar confectionery products are now seen as an alternative to chocolates, the local players who have already established themselves in the chocolate industry are now significantly investing in sugar confectionery production. The sugar confectionery market is segmented into product types such as hard-boiled sweets, chewy, sugar-free, novelty, plain mints, caramel/taffy, licorice, and other types. The sales channel is segmented into supermarkets and hypermarkets, convenience stores, pharmacies, e-commerce retailers, and others. Children (1-20 years), adults (21-55 years), and geriatrics (56 years and older) are the age groups.

By means of product type, the South American sugar confectionery market is highly inclined towards the chewy confectionery segment, which in 2021 held 37% of the market. One of the major hurdles in the market's growth is the increasing cases of obesity and diabetes. This has made people shy away from sugar consumption and move towards low-calorie food items. In order to capture this market gap, the manufacturers have been focusing on the production of sugar-free confectionery, which in the forecasted period is to grow at a CAGR of 10.09%, considerably the highest in the segment.

Much like the global trend, the convenience store segment leads the market in South America. This segment amounted to USD 0.72 billion in the year 2021. By the end of the forecasted period, the e-commerce sales channel is expected to be the fastest-growing segment with a CAGR of 10.64%. In countries like Argentina, kiosks are seen as an important channel of advertising in the sugar confectionery industry. Even with the COVID pandemic lockdown, the kiosk chains like Open 25 and 365 have partnered with PedidosYa, and Rappi benefited from a sales boost.

The adult age group segment is dominating in the region and is also expected to show an incline in the market share and grow at the highest CAGR in the forecasted period. The companies have been focusing on continuous promotions through social media to keep a hold on this segment of consumers. Yet, on the other hand, the increasing health awareness about early childhood obesity is hampering the market. This is to reduce its direct impact on the market, which is to restrict the growth of the children's age group segment to 6.34% in the forecasted period.

Among the studied South American countries, nearly 40% of the market share is held by Brazil, which can be attributed to the increasing middle-class population and the rise of the F&B industry in the country. Also, in recent years, the country has experienced a significant increase in the export of confectioneries. The leading companies are focusing on improving their global position by enhancing their product lines and through mergers and acquisitions. Understanding the changes in lifestyles, companies are now innovating and introducing new products to cater to the customers' growing needs.

Companies Mentioned:

Mars Wrigley Confectionery, div. of Mars Inc., Ferrero Group, Haribo GmbH & Co. K.G., Perfetti Van Melle, Meiji Co. Ltd., Nestle SA, Hershey Co., Lotte Confectionery Co Ltd, Mondelez International, Lindt & Sprungli AG

Considered in this report

  • Geography: South America
  • Base year: 2021
  • Estimated year: 2022
  • Forecast year: 2027

Countries covered in the report:

  • Brazil
  • Argentina
  • Columbia
  • Chile

Aspects Covered in the report:

  • South America Market Size By Value for the time period (2015-2026F)
  • Country Wise Market Size By Value for the time period (2015-2026F)
  • Market Share by Product Type (Hard Boiled Sweets, Plain Mints, Caramel/ Toffee, Chewy, Novelty, Licorice, Sugar-free, Others) By Value
  • Market Share by Age Group (Children(1-20 Age), Adult (20-55) & Geriatric(55 and above)) By Value
  • Market Share by Sales Channel (Supermarket/Hypermarket, Convenience Stores, Pharmaceutical & Drug Stores, E-commerce & Others) By Value

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to sugar confectionery industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.

Table of Contents

1. Executive Summary2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Global Sugar Confectionery Market Outlook
4.1. Market Size by Value
4.2. Market Share
4.2.1. By Type
4.2.2. By Age Group
4.2.3. By Sales Channel
4.2.4. By Region
4.2.5. By Country
4.2.6. By Company
5. South America Sugar Confectionery Market Outlook
5.1. Market Size by Value
5.2. Market Share
5.2.1. By Type
5.2.2. By Age Group
5.2.3. By Sales Channel
5.2.4. By Country
5.3. Brazil Sugar Confectionery Market Outlook
5.3.1. Market Size by Value
5.3.2. Market Share
5.3.2.1. By Type
5.3.2.2. By Age Group
5.3.2.3. By Sales Channel
5.4. Argentina Sugar Confectionery Market Outlook
5.4.1. Market Size by Value
5.4.2. Market Share
5.4.2.1. By Type
5.4.2.2. By Age Group
5.4.2.3. By Sales Channel
5.5. Columbia Sugar Confectionery Market Outlook
5.5.1. Market Size by Value
5.5.2. Market Share
5.5.2.1. By Type
5.5.2.2. By Age Group
5.5.2.3. By Sales Channel
5.6. Chile Sugar Confectionery Market Outlook
5.6.1. Market Size by Value
5.6.2. Market Share
5.6.2.1. By Type
5.6.2.2. By Age Group
5.6.2.3. By Sales Channel
6. Market Dynamics
6.1. Market Drivers
6.2. Market Challenges
7. Market Trends and Developments8. Porter's Five Forces
9. Company Profiles
9.1. Ferrero Group
9.2. Haribo GmbH & Co. K.G.
9.3. Lindt & Sprungli AG
9.4. Lotte Confectionery
9.5. Mars Wrignery
9.6. Mondelez International
9.7. Nestle S.A
9.8. Perfetti Van Melle
9.9. The Hershey Company
10. Strategic Recommendations11. Disclaimer
List of Figures
Figure 1: Global Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 2: Global Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 3: South America Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 4: South America Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 5: Brazil Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 6: Brazil Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 7: Argentina Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 8: Argentina Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 9: Columbia Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 10: Columbia Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 11: Chile Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 12: Chile Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 13: Porter's Five Force Model for Sugar Confectionery Market
List of Tables
Table 1: Global Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 2: Global Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 3: Global Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 4: Global Sugar Confectionery Market Share by Region (2016, 2021 & 2027F)
Table 5: Global Confectionery Market Share by Country (2016, 2021 & 2027F)
Table 6: Global Sugar Confectionery Market Share by Company (2021)
Table 7: South America Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 8: South America Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 9: South America Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 10: South America Sugar Confectionery Market Share By Country (2016, 2021 & 2027F)
Table 11: Brazil Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 12: Brazil Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 13: Brazil Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 14: Argentina Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 15: Argentina Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 16: Argentina Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 17: Columbia Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 18: Columbia Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 19: Columbia Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 20: Chile Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 21: Chile Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 22: Chile Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 23: Key Facts of Ferrero Group
Table 24: Key Facts of Haribo GmbH & Co. K.G.
Table 25: Key Facts of Lindt & Sprungli AG
Table 26: Key Facts of Lotte Confectionery
Table 27: Key Facts of Mars Wrignery
Table 28: Key Facts of Mondelez International
Table 29: Key Facts of Nestle S.A
Table 30: Key Facts of Perfetti Van Melle
Table 31: Key Facts of The Hershey Company

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Ferrero Group
  • Haribo GmbH & Co. K.G.
  • Lindt & Sprungli AG
  • Lotte Confectionery
  • Mars Wrignery
  • Meiji Holdings Co. Ltd
  • Mondelēz International
  • Nestle S.A
  • Perfetti Van Melle
  • The Hershey Company