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Confectionery is a foodstuff that contains sugar as a primary ingredient. It is typically used to refer to sweet foods, such as candy, cake, or pudding. The word “confectionery” can also be used to describe alcoholic drinks, such as cordials and liqueurs.
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Key Trends
The key trends in confectionery technology are focused on improving efficiency and quality while reducing costs. One trend is the use of automation to improve efficiency in the production process. This includes the use of robotics to handle tasks such as packing and sorting.
In addition, new technologies are being used to improve the quality of confectionery products. This includes the use of lasers to cut and shape candy, as well as the use of technology to improve the taste and texture of products.
Finally, companies are looking for ways to reduce costs, such as by using cheaper ingredients or by increasing the use of recycled materials.
Key Drivers
The key drivers of the confectionery market are health and wellness, indulgence, and convenience.
Health and wellness is a key driver because consumers are becoming more aware of the sugar content in their diets and the potential health implications of consuming too much sugar. As a result, many consumers are looking for healthier alternatives to traditional confectionery products.
Indulgence is another key driver of the confectionery market. In today’s busy world, consumers are looking for ways to treat themselves. Confectionery products provide an easy and affordable way to do this.
Convenience is also a key driver of the confectionery market. With busy lifestyles, consumers are looking for products that are easy to consume and require minimal preparation. Confectionery products fit this need and are often portable, making them ideal for on-the-go consumption.
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Market Segmentation
The Confectionery Market is segmented by product type, age group, price point, and region. Based on product type, the market is categorized into hard-boiled sweets, mints, gums & jellies, chocolate and others. By age group, the market is classified into children, adults, and geriatric. Based on price point, the market is distributed into economy, mid-range, and luxury. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and rest of the world.
Key Players
The key players in the Confectionery Market are Mars Incorporated, Mondelez International, Inc., Nestlé S.A., Ferrero Group, Meiji Co., Ltd., The Hershey Company, Chocoladefabriken Lindt & Sprüngli AG, Ezaki Glico Co., Ltd., Haribo GmbH & Co. K.G., and Pladis.
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