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Europe Confectionery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Europe Confectionery Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

  • October 2021
  • 142 pages
  • ID: 6177340
  • Format: PDF
  • Mordor Intelligence LLP

Summary

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Europe Confectionery Market is projected to grow at a CAGR of 3.22 %, during the forecast period.

Key Highlights
Consumer’s tastes and their inclination towards chocolates and sweets is the reason behind the growth of the confectionery market. With increasing concerns for health and simultaneous increase in consumer’s craving for variety of chocolates and candies, caused the growth in the sales of low calories and sugar free confectionery products.
Dark chocolates are known for controlling cardiac diseases and cholesterol owing to its richness in antioxidants and high coca content which boosts the market for chocolates confectionery. Product portfolio extensions and new brand launches from established players are significant factors that fuel the market growth.

Key Market Trends

Market driven by Indulgence

Western Europe dominates the chocolate sale, followed by Central and Eastern Europe. Increased demand for higher quality cocoa products and premium chocolate has accelerated the Confectionery sale in Europe. The high sugar content in chocolates and candies are likely to hinder the growth of the market. Health-conscious consumers have turned toward snack bars and other snacks categories that are perceived as being healthier, as well as reducing the intake of chocolate Confectionery. Owing to the changing tastes and preferences of consumers toward healthy food, there have been considerable developments in products by various players. Confectionery has encouraged the players to develop sugar-free chocolates, gums, jellies, etc., in order to cater to the needs of the consumers. The Confectionery market in Europe is largely dominated by four big multinationals: Ferrero, Mondelez, and Mars, Nestle of which, Ferrero continues to grow and lead the Confectionery market.

Innovation in Chocolates Driving the Sales

Manufacturers continuously innovating around a large number of flavours and consumers are curiously giving them a try. Manufacturers are increasingly trying other citrus fruits such as lemon in their chocolate offerings. Chocolate launches with lemon flavour have doubled in the last year. Although still niche, vegetables are finding their way into Chocolates. We have seen a wide range of fruits – including strawberry, raspberry and cherry – added to chocolate, but there are now a lot more types of fruit being integrated. Peach is one of the fruits that have become more common.Hazelnut is the top nut ingredient in chocolate, followed by almond and peanut. But there is also a growth in pistachio, which has figured in more products this year, and there are a number of blends of nuts and seeds or nuts and other ingredients. For example, in Canada Rogers’ Chocolates has launched Rogers’ Chocolates Natural Dark Chocolate Chipotle Almonds, which comprises fresh California almonds cooked in small batches of cane sugar and a blend of chillies and spices.

Competitive Landscape

Confectionery market in Europe is largely fragmented and dominated by four big multinationals: Ferrero, Mondelez, Mars, and Nestle. The market is very competitive with consumers bound to several brands which have a long history in the market and traditional importance during festival season. Although several innovative brands are coming up in the market and living upto the competition.

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