Market Overview
In 2023, the global confectionery market was valued at USD 206.97 billion and is expected to grow to USD 278.36 billion by 2032, reflecting a compound annual growth rate (CAGR) of 3.36% from 2024 to 2032. Europe led the market in 2023, accounting for a 38.38% share. The U.S. confectionery market is also set to experience notable growth, with its value projected to reach approximately USD 36.09 billion by 2032. This growth is fueled by rising consumer interest in artisanal confectionery and the development of new production facilities across the region.
Rising health consciousness among consumers will play a key role in augmenting the growth of this market, shares Fortune Business Insights™ in its recent report, titled “Confectionery Market Size, Share & Industry Analysis, By Type (Chocolate, Sugar, and Gums), Distribution Channel (Hypermarket/Supermarket, Convenience Stores, Departmental Stores, and Online Retails), and Regional Forecast, 2024 – 2032”.
Chocolate bars and candies usually have a lot of artificial sweeteners. Because health problems related to lifestyle are on the rise, even people who love chocolate are choosing products with organic and natural ingredients. For example, a study by a Swiss chocolate company found that the value of organic chocolates in Western Europe is €30 million. This change in what people want is likely to affect the chocolate market soon.
List of Key Players Covered in the Report:
Source: https://www.fortunebusinessinsights.com/industry-reports/confectionery-market-100542
According to the confectionery market report, the value of this market stood at USD 206.97 billion in 2023. The report further contains answers to the following questions: