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The India confectionery store market size is forecast to increase by USD 4.14 billion at a CAGR of 13.1% between 2023 and 2028. The market is experiencing significant growth, driven by consumer preferences for healthier and premium options. Marshmallows, cookies, ice cream, and sugar confectionery continue to be popular choices, but organic chocolate and other functional, vegan, and gluten-free varieties are on the rise. Advertising campaigns and social media marketing are essential tools for brands to reach consumers and build brand awareness. E-commerce and retailing platforms offer convenience and flexibility, making it easier for customers to access a wide range of confectionery products. However, the market is not without challenges, including the fluctuating prices of raw materials, which can impact production costs and profitability. To remain competitive, confectionery companies must stay agile and adapt to changing consumer preferences and market trends.
The market is witnessing significant growth due to various factors. One of the primary drivers is the increasing popularity of gifting products. Confectionery items are often used as gifts for various occasions, making them a staple in the retailing space. Another factor contributing to the growth of the confectionery industry is the changing dietary habits of consumers. There is a rising demand for healthier confectionery options, such as sugar-free products, vegan, and organic offerings. This trend is being driven by consumers who are looking for indulgent snacking options that align with their lifestyle changes. Natural ingredients are also becoming increasingly popular in the confectionery industry. Consumers are seeking out products made with natural and organic ingredients, which is leading to the growth of artisanal and premium confectionery brands. Advertising campaigns and social media marketing are essential tools for confectionery companies looking to reach consumers. These channels provide an effective way to target specific demographics and promote new product offerings. Retailing space, including casino supermarkets, convenience stores, and online retailing platforms, are also crucial for the distribution of confectionery products. The convenience factor is another significant trend in the confectionery industry. Consumers are looking for on-the-go snacking options, making sugar-free chocolates, functional chewing gum, and other portable confectionery items popular choices. In conclusion, the confectionery market in North America is experiencing growth due to various factors, including the popularity of gifting products, changing dietary habits, and the rise of natural and organic offerings. Advertising campaigns, social media marketing, and various retailing channels are essential for the distribution and promotion of confectionery products. The trend towards healthier snacking and convenience is also driving demand for sugar-free and portable confectionery items. Companies that can effectively cater to these trends and offer high-quality products will have significant opportunities for growth in the confectionery industry.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018 - 2022 for the following segments.
The offline segment is estimated to witness significant growth during the forecast period. In the market, companies employ various advertising campaigns and social media marketing to promote their offerings, which include marshmallows, cookies, ice cream, organic chocolate, and sugar confectionery. Supermarkets and hypermarkets feature dedicated aisles for these products, enhancing their visibility.
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The offline segment was the largest segment and was valued at USD 3.46 billion in 2018. The trend of urbanization and changing consumer lifestyles, characterized by a preference for quick and convenient purchases, has led to a rise in the popularity of convenience stores in India. As a result, health and nutrition confectionery items, such as gluten-free food products, are experiencing significant sales growth in this sector. Hence, such factors are fuelling the growth of this segment during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Rising demand for organic, functional, vegan, and gluten-free confectioneries is notably driving market growth. In India, the confectionery market is experiencing growth due to the rising trend of healthier snacking. Consumers are increasingly opting for premium, organic chocolates made from raw materials free of synthetic ingredients. Dark chocolates, known for their antioxidant properties and lower sugar content, are particularly popular.
Furthermore, the demand for vegan and gluten-free confectioneries is also on the rise, as more people adopt organic and allergen-free diets due to lifestyle changes and the prevalence of food intolerances. Additionally, sugar-free chocolates and confectioneries are gaining traction as consumers seek out low-calorie alternatives to satisfy their sweet cravings. Overall, the Indian confectionery market is evolving to meet the demands of health-conscious consumers for organic, vegan, and sugar-free options. Thus, such factors are driving the growth of the market during the forecast period.
Premium and healthy chocolates are becoming increasingly popular is the key trend in the market. In the Indian market, there is a growing trend towards premium and health-conscious chocolates. Consumers are increasingly seeking out chocolates with reduced sugar content and natural ingredients, such as superfoods and alternative sweeteners.
Moreover, this shift in preferences is particularly noticeable among urban consumers, who are attracted to innovative chocolate offerings that cater to both their taste preferences and health goals. The chocolate industry has responded with a diverse range of unique flavors and formats, broadening the market's appeal. Furthermore, the rise of e-commerce has made it easier for consumers to access a wider selection of premium chocolate brands, allowing them to explore healthier options at their convenience. Thus, such trends will shape the growth of the market during the forecast period.
Fluctuating prices of raw materials is the major challenge that affects the growth of the market. The market faces challenges due to the volatile pricing of key ingredients, particularly chocolate confectionery's components like cocoa, sugar, and milk. Price fluctuations impact manufacturers' production costs and profitability. For instance, cocoa prices are influenced by factors such as climate conditions and socio-economic issues in major producing countries.
In addition, this instability compels confectionery businesses to maintain consumer pricing while managing rising costs, creating a challenging environment. Innovative candies and comfort food continue to dominate the confectionery market in India. Mass merchandisers and online purchasing platforms have made convenience snacks easily accessible. Consumers increasingly seek healthier options, with a growing demand for organic and gluten-free chocolate confectionery. Hence, the above factors will impede the growth of the market during the forecast period.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
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.
Candico India Ltd: The company owns a licensed confectionery store across India and offers sweets and other snacks.
The market research and growth report also includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted 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.
The confectionery market is a vibrant and ever-evolving sector within the food and beverage industry. This market caters to consumers' cravings for indulgent snacking, gifting products, and dietary preferences. Natural ingredients, sugar-free products, and healthier options are gaining popularity among consumers. Chocolate, chewing gum, sweets, toffee, marshmallow, cookies, ice cream, and a myriad of other confectionery items continue to delight consumers. Advertising campaigns and social media marketing are essential tools for confectionery brands to reach their audience. Organic chocolate, sugar confectionery, and e-commerce are emerging trends in this market. Retailing spaces, including casino supermarkets, convenience stores, and online retailing, offer diverse channels for consumers to purchase their favorite confectionery items. Festive seasons and lifestyle changes are significant drivers for the confectionery market. Consumers seek healthier snacking options, such as sugar-free chocolates, vegan, and organic products. Premium chocolate, sustainable chocolate, and artisanal products cater to the growing demand for indulgent and high-quality treats. Innovative candies, snack bars, and comfort food continue to capture the attention of consumers. The use of raw materials, such as sugar and sugar gums, is a crucial aspect of the confectionery industry's production process. The market is expected to witness continued growth as consumers' preferences and dietary habits evolve.
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1 Executive Summary
2 Technavio Analysis
3 Market Landscape
4 Market Sizing
5 Historic Market Size
6 Qualitative Analysis
7 Five Forces Analysis
8 Market Segmentation by Type
9 Market Segmentation by Crop Type
10 Customer Landscape
11 Drivers, Challenges, and Opportunity/Restraints
12 Competitive Landscape
13 Competitive Analysis
14 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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