The Spanish confectionery market volume has shown a fluctuating trend over the past decade, with notable growth and occasional dips. As of 2023, the market stood at 737.58 million kilograms, reflecting a modest year-on-year increase of 1.48%. The volume experienced a consistent upward trend from 2013, with some fluctuations, particularly a drop in 2020 by 6.29%, followed by recovery in 2021 with a significant rise of 12.67%. This volatility is evident through the compounded annual growth rate (CAGR), which was 0.84% over the past five years.
Future trends to watch for include:
- Continued gradual growth with a forecasted 5-year CAGR of 1.08%.
- Potential steady increase in consumer demand, pushing the market volume towards 789.61 million kilograms by 2028.
- Impact of health trends on consumption patterns, potentially influencing product innovation and market dynamics.