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Asia Pacific Sugar Confectionery Market Outlook, 2027

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    Report

  • 74 Pages
  • September 2022
  • Region: Asia Pacific
  • Bonafide Research
  • ID: 5483306
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The sugar confectionery market in the Asia-Pacific region is driven by a shift in consumer preferences due to rising disposable income and emerging economies in the region. China leads the sugar confectionery market in the region and India is the fastest growing market owing to thriving food and beverage industry and rising disposable incomes. Population growth also adds to the healthy growth prospects in these countries. Nowadays, many confections are enriched with vitamins, and the sector is also focusing on producing sugar-free or low-sugar versions of the products. Confectionery products, rather than being used as gifts, are also used as ready-to-go snacks between meals. Chinese consumers prefer small packages of confectionery products for less sugar consumption. In Asia Pacific, consumers are getting more health-conscious day by day, which has resulted in the demand for low-calorie and sugar-free food products. Asians have diversified tastes and preferences and are fond of experimenting with new flavours. Manufacturers are constantly innovating and widening their product portfolios to meet dynamic consumer demands.

According to the research report, Asia-Pacific Sugar Confectionery Market Outlook, 2027 it is projected to grow at a steady CAGR of 4.25% over the forecast period ending in 2027. Small pack size and low cost is the most preferred strategies in the Asia-Pacific region adopted by key players. An emerging trend of confectionery gifts has superseded traditional sweets owing to their longer shelf life. Mints are gaining popularity over gums among young consumers, as they instantly refresh the mouth and have a soothing mental effect. One of the major restricting factors is the importance of traditional sweets in Asian cultures, which is hard to replace due to customs and beliefs. However, only last minute buying needs for gifting on occasions add to the market's growth. In the region, the growth is recorded at a steady pace, which is backed by the inclining demand from middle-income consumers.

The chewy confectionery segment leads the sugar confectionery market in the region, with a market value of USD 5.49 billion by the end of 2021. The market is highly competitive, mostly with the presence of a high number of local confectionery manufacturers. Nevertheless, the improved lifestyle that has allowed people to spend more has been profitable for international brands, capturing a considerable market. In order to establish their dominance, many brands are now focusing on embedding the flavours of traditional sweets within their confectioneries. Unlike the global trend, the liquorice segment is expected to be the fastest-growing segment, with an anticipated CAGR of 5.72%.

The region’s focus on confections enriched with vitamins has inclined and is also focusing on producing sugar-free or low-sugar versions of the products. This indirectly helped the segment of the geriatric age group to gain more popularity and thus reach a value of USD 2.13 billion by the end of the forecasted period. Even though the geriatric population contributes the least, this segment accounted for considerably more in Japan than in other markets.

In terms of sales channel, supermarkets/hypermarkets and convenience stores are closely related, with a small market share difference. These segments are expected to account for nearly 65% of the market in 2027. Aside from these, the introduction of new product lines, innovation in flavours extracted from healthy ingredients, and investments in retail space displays are expected to be major driving factors in market growth.

The key local players are keenly interested in investing in offline advertising campaigns and are also working hard on enhancing their online brand recognition. The overall regional market is hampered by the rise in instances of diabetes. 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: Asia-Pacific
  • Base year: 2021
  • Estimated year: 2022
  • Forecast year: 2027

Countries covered in the report:

  • China
  • India
  • Japan
  • Australia
  • South Korea

Aspects Covered in the report:

  • Asia-pacific 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. Asia Pacific 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. China 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. Japan 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. India 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. Australia 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
5.7. South Korea Sugar Confectionery Market Outlook
5.7.1. Market Size by Value
5.7.2. Market Share
5.7.2.1. By Type
5.7.2.2. By Age Group
5.7.2.3. 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. Meiji Holdings Co. Ltd
9.7. Mondelez International
9.8. Nestle S.A
9.9. Perfetti Van Melle
9.10. 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: Asia Pacific Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 4: Asia Pacific Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 5: China Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 6: China Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 7: Japan Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 8: Japan Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 9: India Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 10: India Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 11: Australia Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 12: Australia Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 13: South Korea Sugar Confectionery Market Size - By Value 2016 to 2027F (In USD Billion)
Figure 14: South Korea Sugar Confectionery Market Share By Age Group (2016, 2021 & 2027F)
Figure 15: 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: Asia Pacific Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 8: Asia Pacific Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 9: Asia Pacific Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 10: Asia Pacific Sugar Confectionery Market Share By Country (2016, 2021 & 2027F)
Table 11: China Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 12: China Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 13: China Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 14: Japan Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 15: Japan Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 16: Japan Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 17: India Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 18: India Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 19: India Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 20: Australia Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 21: Australia Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 22: Australia Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 23: South Korea Sugar Confectionery Market Share By Product Type (2016- 2021)
Table 24: South Korea Sugar Confectionery Market Share By Product Type (2022F-2027F)
Table 25: South Korea Sugar Confectionery Market Share by Sales Channel (2016, 2021 & 2027F)
Table 26: Key Facts of Ferrero Group
Table 27: Key Facts of Haribo GmbH & Co. K.G.
Table 28: Key Facts of Lindt & Sprungli AG
Table 29: Key Facts of Lotte Confectionery
Table 30: Key Facts of Mars Wrignery
Table 31: Key Facts of Meiji Holdings Co. Ltd
Table 32: Key Facts of Mondelez International
Table 33: Key Facts of Nestle S.A
Table 34: Key Facts of Perfetti Van Melle
Table 35: 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